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The Boat Fight at Fort Pillow.

The St. Louis Republican contains the following account of the fight between Foote's Flotilla and the rebel gunboats on the 10th at Fort Pillow:
One of the most gallant gunboat battles of the war has just been fought above Fort Pillow. The action exhibits a good deal of the dash of the days of Hull and Decatur.

On Friday evening last at about four o'clock the enemy sent a flag of truce to Commodore Foote, covering four of the Belmont prisoners, whom they wished to exchange. The boat used by the enemy for the trip was the Gordon Grant, formerly owned by Riddle, Coleman & Co., of Pittsburg, and from them stolen by the rebels at the breaking out of the rebellion, Capt. Davis, now acting Chief, doubtless saw the ruse. When we have 20,000 rebel prisoners on hand, and the rebels at least as many hundred of ours, the proposition to exchange four was a too self evident ruse to procure the knowledge of our position not to have been seen through. Saturday morning, about four o'clock, earlier than usual, the tow boats dropped a mortar boat down to the point where it has for some time made music, and at five o'clock, also earlier than usual, its iron lungs saluted the enemy. The fact that the Cincinnati, thirteen guns, Capt. Stembell in command, also dropped down and took position near the gunboat, seems to me to indicate that Captain Davis fully apprehended a rebel move. About six o'clock, the morning being unusually dark from the humidity of the atmosphere, one of the rebel gunboats, supposed to be the ram Louisiana, carrying two heavy guns fore and aft, came round Craighead Point, hugging the land so closely as not to have been seen by the Cincinnati. In a short interval two other boats followed, and still another interval four more. The Louisiana got within rifle range of the Cincinnati before she was observed. The Cincinnati cast off her shore line and swung out into the stream; as she got fairly into the channel the Louisiana was almost between her and the shore, the other boats being in line of battle behind, head up stream. The Cincinnati opened with a broadside, and the run, instead of replying made a run and struck the Cincinnati twice heavily in the starboard side, doing her great damage. One shot from the boats below, evidently intended to damage her rudder, entered three feet wide of the mark, doing no irreparable damage. The Cincinnati poured in terrible broadsides as the ram came up with the intention of striking her, and the sailors say the shot made daylight shine through her. The Cincinnati held them all in check for about a quarter of an hour, when others of our boats came to her aid, during which the rebels drew off and continued the fight at longer range. After continuing the fight for nearly an hour longer the rebels drew off under the heavy canopy of smoke which covered them. Two of the enemy's boats were blown up and sunk, among them, doubtless, the terrible ram Louisiana. Three of the enemy's boats were rams.

One of them made at the Benton, but got a broadside that soon made him lower his horns. Captain Stembell was badly wounded. As the Louisiana came up he was tempted to shoot her pilot, and he laid him out cold. Another pilot seeing the act shot at Capt. Stembell, inflicting an ugly by not dangerous wound.

The First Master of the Cincinnati was wounded, with two or three others. I here of no other casualties.

The enemy must have suffered terribly, for while they relied on their rams, our boats poured in shot at terribly damaging ranges.

Commodore Hollins was recognized on one of the enemy's boats by one of our officers, who had known him under the old flag, and who exchanged shots with him but without effect. When the Louisiana came up to butt the Cincinnati, her crew undertook to throw a stream of scalding water upon our men, but the pipe bursting the enemy were most damaged.