The telegraph reports the surrender of Fort Henry, on the Tennessee river, after a short engagement with the gunboats and before the land force had arrived at the scene of action. It is also stated that our forces had advanced fifteen miles beyond Fort Henry and had taken possession of the Memphis and Ohio Railroad bridge. This is an important victory, if we have force enough to take advantage of it. In this event it will be attended with the most important and decisive results. The St. Louis Republican thus detailed the importance of General Grant’s expedition a few days ago:

If the communication between Bowling Green and Columbia can be cut off, the Union forces still have it in their power to achieve such a victory as will make the Confederates tremble from Nashville to Pensacola.