There is but little room longer to doubt that McClellan has effected his escape to James River with the remainder of his force, amounting to about 75,000 men, with a portion of his cannon and stores. It appears also that he has been re-inforced strongly, making his army about 100,000 men.

He is entrenching on the river at the confluence of the Chickahominy and James rivers, under cover of the gunboats. His position is a very strong one. It was expected that he would be attacked on Saturday last, as the divisions of Jackson, Longstreet and A. P. Hill were near him. But no attack has yet been made, nor does it appear that ordinary prudence would allow an attack under such circumstances. Having failed to cut off his retreat, when according to rumor he was entirely in our power, and when every attack upon his batteries was attended with severe loss, it could hardly be the part of wisdom to attack him in his present position, when so little can be gained at the risk of so great loss.