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From the Southwest.

Mobile, Dec. 14.
--A special dispatch to the Advertiser and Register, dated Grenada, yesterday, says:

‘ The latest reliable intelligence places the Abolitionists at Watervally, on the Yockmapatapa river, where they burned five houses. They impress all the stock and crops, and destroy the surplus.--Grant's and McPherson's headquarters are at Oxford. The enemy officially report seventy-five killed and wounded at Coffeeville, including five officers. The 2d Iowa regiment lost five out of seven.

The advance of the Abolition army is an indiscriminate raid, carrying destruction to every interest. Private property is not respected. General Pemberton reviewed the troops at this point to day.

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