The campaign in the Southwest.
Mosily, Dec. 27.
--The Advertiser and Register has a dispatch dated Grenada, Miss, 27th, stating that the Memphis Bulletin, says that on the 19th Gen. Forrest destroyed the railroad communication near Humboldt, cutting off the Yankee supplies, and that on the 21st and 22d sixty transports left Helena for the South, and a large force remained at Helena, which was to follow soon.
Scouts report that Forrest and Van-Dorn had formed a junction and attacked Memphis on the 23d instant, destroying a large quality of stores — Nothing further has been ascertained.
From appearances the conflict on the Mississippi and Yahoo rivers will soon commence.
Dr. Price, who left Memphis Tuesday evening, represents Van-Dorn as being in the vicinity, and as having sent a flag of truce demanding a surrender.
The enemy were removing everything to Fort Picking.
There were only two regiments in Memphis. 