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Gallant conduct. During the fight on the Williamsburg road on Wednesday, and while the 1st Louisiana regiment was in its position of greatest peril, under the fire of the enemy in ambuscade, the color- bearer sunk to the ground from exhaustion, when Sergeant William Powers seized the flag and bore it in the thickest of the fight. The act of bravery is highly complimented by the regiment, and it is thought had a good effect in the noble rallying of the regiment under the murderous fire they sustained.