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Later from Europe. The steamship America, from Southampton on the 31st of August, arrived in New York on the 12th. Her nows is three days later than the report of the Scotia. The reports of General Grant's operations on the north side of the James river, when pushing to the Weldon railroad; of Sheridan's action with Longstreet at Front Royal; and of Farragut's victory at Fort Morgan, had been received in England, and produced an impression decidedly favorable to the Union cause. It was rumored in Paris that the Emperor Napoleon would soon make another effort to intervene in American affairs, with a view to the ultimate recognition of the South. The plan, it was said, would now meet with favor in France, as abolition was no longer an element in the Northern war policy, and as the Emperor had prudently waited for "questions to ripen. "