LATER BY TELEGRAPH TO CAPE RACE.

Otago Daily Times, Issue 290, 24 November 1862, Page 5

LATER BY TELEGRAPH TO CAPE RACE.

New Your, Sept. 16, Evening. The Federals, under General M'Glcllan, have occupied llager«town, Maryland, since when no latei* direct advices have been received. It 13 rumored, however, that a battle is progressing to-day between Sharpsburg'and Middleburg, in the neighborhood, of the Potomac Further intelligence is anxiously awaited. The Kudwalsaresurrounded at Harper's ferry 1,600 cavalry have escaped, but it is supposed that the remainder of the Federal force stationed there will be compelled to surrender. The Confederates have again advanced towards Cincinnati, driving in the Federal pickets two miles north of Florence. The steamer New York has arrived out. The Arabia has arrived at Halifax.

The following private telegram has been received at Liverpool by the mail, which arrived on the 25th of September: -"New York, September 17, via Cape Race.- - There has been a terrible battle between M'Clellau and Lee at Hagerstown. M'Clellan' reports that the Confederates retired across the Potomac. The Federals are surrounded at Harper's Ferry. Sixteen thousand (1) cavalry escaped ; the remainder it iasupposed would surrender. The Confederates are advancing on Cincinnati. They are two miles north of Florence."

Gold down three per cent. New York Commercial Intelligence:—Money easy, exchange quiet, stocks lower, and declining;' cotton steady, middling upland, 57c