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Late Southern news.

important from Arkansas--important correspondence between Generals Polk and Grant--the hero watchman, &c., &c.

Important from Arkansas--invasion by the Federals

The Memphis , of the 13th instant, has the following important information from Arkansas:

‘ A gentleman who reached the city from Jacksonport, Ark., yesterday morning, reports that messengers, at Cotton Plant last Thursday, from Gen. Borland, stationed at Pocahontas, informed the people that other were seven thousand Federals at Domiphan, Missouri, thirty-seven miles from Pocahontas, 1,600 of them cavalry, advancing by forced marches from Ironton to ocahontas, and begging for reinforcements. On Friday Gen. Borland sent a courier, stating that the former report had been confirmed, and private assurances that this was no false report A merchant from Pocahontas to Jacksonport last Friday, confirms General Borland's statement. Immediately the call for aid was responded to, and some 300 men, poorly armed, but good fighters, left Jacksonport for Pocahontas last Saturday morning. The news of the threatened invasion by the Federals had been spread in all the river towns and the whole country from Jacksonport to Augusta, and as far west as Batesville, were aroused, and every man was marching for Pocahontas It is supposed that at least 3,000 men had left to meet the invaders, last Saturday. Gen. Borland had only about 2,000. The general impression was that the Federals would reach and capture Pocahontas by Saturday night, and before reinforcements reached there. The Confederate Government has from $150,000 to $200,000 worth of army stored at Pocahontas. It is said that all the towns on the river are deserted, every man having gone to meet the invader.

Important correspondence — Exchange of Treasons at Columbus.

Our readers have already been notified of a correspondence had between the Federal and Confederate Generals relative to an exchange of prisoners taken at the battle of Belmont. The following is a true copy of the correspondence, which we take from the Memphis Appeal, of the 13th inst.:

Cairo, Ill, Nov. 8, 1861

General Commanding Forces Columbus, Ky:

In the skirmish of yesterday, in which both parties behaved with so much gallantry, many unfortunate men were fell upon the field of battle who it was impossible to provide for.

I now send, in the interest of humanity, to have these unfortunates collected, and medical attendance secured them.

Col. Webster, Chief of Engineers, district Southeast Missouri, goes beater of this, and will express to you my views upon the course that should be pursued under circumstances such as those of yesterday.

I am, sir, very respectfully, your obedient servant,

U. S. Grant, Brigadier-General

Headq'rs 1st Div., Western Dupy., Columbus, Ky., Nov. 8, 1861.

Brigadier-General U. S. Grant, U. S. A.
I have received your note in regard to your wounded and killed, left on the battle-field after yesterday's engagement.

The lateness of the hour at which my troops returned to the principal scene of the action prevented my bestowing the care upon your wounded which I desired. Such attentions as were practicable were shown them and measures were taken at an early hour this morning to have them all brought into my hospitals. Provision was also made for taking care of your dead. The permission you desire under your flag of truce is granted with pleasure, under such restrictions as the exigencies of our service may require.

In your note you say nothing of an exchange of prisoners, though you send me a private message as to your willingness to release certain wounded men and some invalids, taken from our list of sick in camp, and expect in return a corresponding number of your prisoners. My own feelings would prompt me to waive again the unimportant affectation of declining to recognize these States as belligerents; but my Government requires all prisoners to be placed at the disposal of the Secretary of War. I have dispatched him to know if the case of the severely wounded held by me would form an exception.

I have the honor to be

Your obedient servant,

L. Polk,
Major-General C. S. A.

Further correspondence — a lady permitted to Nurse her husband.

Cairo, Ill, Nov. 10, 1861.

Major-Gen. Polk, Commanding at Columbus, Ky.;
It grieves me to have to trouble you again with a flag of truce, but Mrs. Col. Dougherty, whose husband is a prisoner with you, is very anxious to join him under such restrictions as you may impose, and I understand that some of your officers expressed the opinion that no objections would be interposed.

I will be most happy to reciprocate in a similar manner at any time you may request it.

I am, General, very respectfully,

Your ob't serv't,

U. S. Grant,
Brig.-Gen. U. S. A.

Headquarters 1st Division, Western Department, C. S. S.
Brig.-Gen. U. S. Grant:

I am in receipt of your note under cover of your flag of truce, asking for Mrs. Dougherty the privilege of joining her husband, who was unfortunately wounded in the affair of the 7th.

It gives me pleasure to grant her the opportunity of rendering such grateful service, and I hope through her attentions the Colonel may speedily be restored to such a condition of health as is compatible with the loss he has been obliged to sustain.

Reciprocating your expressions of a readiness to interchange kind offices, I remain,

Very respectfully, your ob't serv't,

L. Polk,
Maj.-Gen. Commanding.

From East Tennessee--the hero of Strawberry Plains.

A correspondent of the Knoxville (Tenn.) Register, writing from the scene, furnishes the following particulars of the bloody affray on Friday night, the 8th inst., at Strawberry Plains, between James Keelan, the hero watchman, and Pickens's squad of incendiaries:

The fight occurred upon a platform in the trestle work of the bridge. Blood had been profusely poured out upon the planks; and the beams were literally besprinkled with the element of life. More than twenty bullet holes were found in the timbers, and many deep gashes were made in the pasts and slits by the rude knives of the cut throats. All around were evidences that a terrible affray had occurred on the premises.

At the residence of Mr. Elmore., the Railroad agent, we found the brave sufferer. He was shot in three places — the back, thigh, and elbow. His hand was severed at the wrist. Many gashes are found upon his person.--From his cost, I judge twenty attempts were made to cut his throat. When I saw him he was perfectly calm and sensible, bearing his pains with patience and fortitude. He will probably recover. He is a poor man, with a large family depending upon his labor for the subsistence of life. He fought sixteen men, probably killing their leader, whilst in the act of firing the bridge, and finally drove the enemy away without their accomplishing their fiendish purpose. He done all that he could, unaided by any one, in defence of his Government and the people. Indeed it was not known by any one of the citizens, until in a bleeding and exhausted condition he reached the house of Mr. Elmore, where he sank down from great weakness, exclaiming, "They have killed me, but I saved the bridge." He is a hero, and has physically done more for the welfare of his country than any man in the Confederacy. He deserves well of his countrymen, and let a grateful people do something for the relief of his family.

From Gens. Price and M'Culloch.

The Fort Smith (Ark.) Times, of the 5th instant, learns from a gentleman just down from camps, that General Price, with his command, is encamped at Cassville, Missouri, fifty-five miles this side of Springfield. General McCulloch is encamped at Harbins, this side of Keatsville, and about ten miles this side of General Price, who is said to have about 20,000 men, and about 13,000 effective men, and will have a larger force when the battle comes off.

A Strange visitor.

From the Lynchburg Republican, of the 18th, we copy the following:

We are informed by persons who saw it, that a balloon passed over this city Friday morning before day. It is said to have been very near the earth, and proceeded quite slowly. Several persons were visible in the car attached to it. Where it was bound or whence it came is not known, though some suspect it was one of Uncle Abe's reconnoitering machines looking out for the fifty thousand men encamped about Lynchburg.

From Kentucky — dull Times for the Lincolnites.

A gentleman who left Louisville, Ky., on the 5th inst., and arrived at Memphis, Tenn., a few days since, reports that Federal soldiery from Indiana and Illinois was pouring into that city it large numbers, and seemed to be confident of a speedy triumph in Kentucky.

Kentuckians, those at least "to the manor born," still refuse to enlist in any large numbers. All boats from Cincinnati are required to stop at Louisville in for points below, and passengers conducted to the Custom-House, where they are forced to take an eath to support the Lincoln Government. Of the forty-five thousand troops called for from Kentucky, it is said but five thousand had responded.

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