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The situation of affairs.

--We give this morning, from our correspondents, and from Northern and Southern sources, all the information obtainable in regard to the movements and situation of the armies. The news from Kentucky possesses the most interest, and perhaps the attempts which the Federals are making in that State are more important than anything hitherto developed. General Buckner. It will be seen, had occupied Bowling Green; another account represents him at Elizabethtown, near which a railroad bridge had been burnt by the Confederates; and the latest advices contain a rumor that he was at Muldraugh's hill, an excellent strategic point, only thirty-three miles from Louisville. A few days will doubtless develop startling events in Kentucky.

The news from Missouri is through Northern sources; yet even these seem more favorable than otherwise to the Southern cause.

Our armies in Virginia remain in very much the same situation as at last accounts. There has probably been no engagement yet in the West, and it is hoped that reinforcements will reach Gens. Floyd and Wise in time to insure their commands against disaster. The Central train has brought no rumors for two days past, though a few prisoners have arrived to help fill up the places of these who have departed for the sunny South. One passenger said that our troops had advanced as near to Washington as they could get and were going into winter quarters!--We think the winter quarters will not be on this side of the Potomac.

Much activity was observable at the War department on Saturday. There were crowds of persons hurrying about the offices, all seemingly intent on important business. Secretary Benjamin appears to discharge his arduous duties as if he were accustomed to hard labor, preserving meanwhile a suavity of manner which is pleasing to all who hold intercourse with him.

Later.--A Victory for the Confederates in Kentucky.--Dispatches were received in this city on yesterday, stating that the Tennesseans, eight hundred strong, had succeeded in driving the Federals, thirteen hundred strong, from Muldraugh's hill, in Kentucky. Several reports were rife respecting the relative numbers engaged, but all agree upon the certainly of a victory.

The news is confirmed by the Rev. Mr. Son, Missionary Secretary of the M. E. Church, South, who announced the intelligence of the victory at Trinity Church, in the course of his sermon, last night, upon the authority of a dispatch direct from the vicinity of the battle-ground, and written by his son, a gentleman high in office. Authentic particulars of the battle will doubtless be received to-day.

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