11 JULY 1863, Page 1

The Federals have had one little piece of success which

has been a bitter disappointment to the South. The success,

a Confederate iron-clad, which has long been preparing, and was to do wonderful things, came out of Savannah on the 23rd of June, and was captured in fifteen minutes. The commander, it is said, was so overcome by mortification and disappointment that he fainted after surrendering his sword.