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From the Valley.

Several rumors were circulated through the streets yesterday regarding the movements of ‘ "Stonewall"’ Jackson. One of these was that he had returned to the vicinity of Front Royal, and had gained a victory over Shields, and was now turning his attention to Dix and Fremont, who were marching against him with a large force. The first portion of this rumor is probably incorrect' although a battle between Jackson and the enemy may be expected any day. The triumphant march of our-army through the Valley, the utter rout of the army under Banks and the successful march of our cavalry into Maryland seems to have created a great panic throughout the North. Fifty thousand militia have been called out for the defence of the Capital, and many regiments are now on their way to Washington. Among them the famous or infamous, New York Seventh is reported. It is supposed that McDowell has been sent against Jackson, to cooperate with Fremont, Dix and Shields.

Although the stores taken in the late battle have been sent to the rear, we have reason to suppose that Jackson still has his headquarters at Winchester, and that he is on the alert for any or all of the Yankee Generals now marching against him. The removal of stores, superfluous baggage, and extra transportation, undoubtedly gave rise to the report that Jackson was retreating from the Valley. It is hardly possible that many days will pass by without bringing some good news from this veteran General and his brave troops.

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