The Express.
London, England, 1862-02-04 00:00:00

'EtVEN#II6, FEBRU.

[CA.

(111,0711611 TELBOWL)

THE BATTLE IN KENTUCKY.

NEW YORK, JAIL 21.
The New York journals publish a dispatch from
Cincinnati, dated 20th inst., which says :
A battle took place at Somerset, Kentucky, on
Saturday, between General Schoepf's and Genoa
Zollicoffer's forces. The battle lasted from early in
the morning till dusk. General Zollicoffer was
killed and his army entirely defeated. Our vie-
tory (continues the despatch) has been very de-'
cisive, and will result in a rent of the whole
force defending the right flank of Bowling Green. I
A combined attack was made to-day on General
Zollicoffer's entrenchments at,Mill Spring, Wayne
County, Kentucky, resulting in a complete vie-
tory. The stars and stripes now float over the
fortifications. We captured all their camp property
and a large number of prisoners. General Zolli-
coffer's dead body is in the hands of the Unionists."
A Lexington correspondent gives the following
acount of the battle :
" General Zollicoffer, learning that the Union
forces had appeared in his rear, marched out of hie
entrenchments at 3 o'clock on Saturday morning,
and attacked General Schoepf in camp. The pickets
were driven in at an early hour and the attack was
made before daylight. The battle is reported to
have raged with great fury until Cares in the after-
noon, when, General Zollicoffer having been killed,
the whole Confederate force fled in confusion to
their camp. The loss is not stated, but is "-
ported to be heavy."
A telegram from Louisville of the 20th says :
" The Confederates were in full retreat to their
entrenchments at Mill Spring, with the Union
troops in hot pursuit. General Thomas followed
up the rebels on Sunday to their entrenchments,
sixteen miles from his own camp, and when about
to attack them he found their entrenchments
deserted, the rebels having left all their cannon,
quartermaster's stores, tents, horses, and waggons,
which fell into our hands. The rebels, dispersing,
had crossed the Cumberland, opposite their en-
campment, at Mill Spring. Two hundred and
seventy-five rebels were killed and wounded, in-
cluding Generals Zollicoffer and Belie Peyton,
who were found on the field. The Tenth Indiana
Regiment loot 75 killed and wounded. Nothing
further of the Union loss has yet reached here."
A Washington despatch of the 20th inst., also
published in the New York journals, says :
"The Government has received a despatch this
evening confirming the news of the glorious victory
in Kentucky. The demonstration in Kentucky is
the opening of the grand campaign, and which
will result in a continuous movement until the re-
bellion is crushed out. This wipes the rebels out
from Eastern Kentucky and opens the way for
General Buell's grand army to march into East
Tennessee, where he will soon unite his forces with
our forces from the cont."
There is great rejoicing in New York over the
news from Kentucky.
COMMERCIAL INTELLIGENCE.
Jar. 20, 8 P.a.

The money market is without change.
Paper of the highest grade passes at 6 to 6} per
oent., and broken are paying 6 as a general rule
for call loans. At this rate the supply is in excess
of the demand.
The banks are steadily increasing their reserve
of specie, and at the same time reducing their loans
and their circulation.
The curtailment in loans is probably involuntary
and proceeds from the want of business. The re-
duction in circulating notes arises from the demand
for gold.
None of the New York banks refuse to redeem
their notes in gold, and speculators have been send-
ing parcels of them for redemption. Altogether the
position of our banks is a sound one, and will be
sounder still when Congress adopts the necessary
measures for taxation and currency.
Exchange fell to-day. Bankers' bills were
offered at 111 to } for sterling. Gold rose to 2}
per cent in the morning, and fell oft' to 2f in the
afternoon.
The movement in gold and exchanges are mainly
caused by the operations of speculators.
Stocks closed steady. Panama, 113 to 114 ;
Illinois Central, 62} to 63 ; New York Central 7's,
1876, 102} ; Erie 3rd Mortgage Bonds, 91 to 92 ;
Illinois Central Bonds, 7'•, 91 to } ; Missouri 6's,
42} to } ; Pacific Mail, 98} to f ; New York Cen•
teal, 83} to } ; Erie, 35} to } ; ditto Preferred, 57
O to } • Michigan Central, 53} to I.
• Breadstuffs generally heavy and lower. Wheat,
* heavy, prices easier. Pork, heavy and doll. Sugars
quiet; sales limited. Coffee quiet, but firm, with
ch sales of 1,200 bags Rio and 700 St. Domingo.
at Freights leas buoyant ; for grain engagements
mu generally moderate.
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