The latest news received here from Norfolk by the underground railroad, leaves no room for a doubt that the Merrimac is thoroughly repaired and in commission, ready for another expedition against the woodlen walls of the Federal navy, and the numerous transports laying in the Roads.
The delay in coming out is believed to be that she is waiting for some ammunition for the heavy guns that have been placed on board of her, and also for some infernal machines balling constructed by Bombastes Maury.
The steamers Yorktown and Jamestown are also being strengthened and more thoroughly clad with iron, to accompany the Merrimac.
There is also a rumor that two steamers are being clad with iron at Richmond to join in the expedition.
The English frigate Rinaldo and the two French war steamers have taken positions above the Monitor, the former lying almost under the rebel guns of Sewell's Point.
The officers of these vessels, who have communication with Norfolk every day or two,