1

Grand Union Advance.

Armies of Potomac and James united.

Gen. Sheridan's Cavalry in the Van.

A Great Battle believed to be in Progress.

Heavy Cannonading near Petersburg.

Another Peace Sensation.

LINCOLN, SEWARD AND GEN. GRANT
REPORTED IN CONFERENCE WITH
JEFF. DAVIS, HUNTER AND GEN. LEE.

New York Stock & Produce Market.

ETC., ETC., ETC.

NEW YORK, March 31. — The Tribune's Washington special says that an announcement having been made that the Army of the Potomac had again resumed the offensive, it will not be improper to state that, while troops of the Army of the James crossed James river and joined Grant in his new movement, Gen. Grant, himself, left City Point for the front, Tuesday p.m. General Sheridan with his cavalry led the advance and by this time has probably cut the only remaining line of communication with Richmond, somewhere between Burksville and Danville.

The rebels on Sunday and Monday had the bulk of their army massed on their right, either in anticipation of an attack in that direction, or preparatory to the evacuation of Richmond.

The telegraph between here and City Point has not been working for five or six hours, and if there has been any fighting, it is unknown here. It is believed, however, that a heavy battle took place to-day.

The Herald's Washington special says it is now understood from the very highest and most reliable sources of information that Secretary Seward was sent for by Mr. Lincoln to come to City Point for consultation, and arrangements are actually in progress for a military convention between Gens. Grant and Lee, supported on one side by Mr. Lincoln and Secretary Seward, and on the other by Jeff. Davis and R. M. T. Hunter.

A grand movement of the army under Gen. Grant was begun on Wednesday morning. That this movement will result in compelling Lee to an early capitulation of his army is regarded in military circles as inevitable.