The President Speculating

-The following bit oí gossip is from a Sí. Louis dispatch to tho Chicago Times : " There is a story afloat here, among steamboat men, underwriters and army officers, the giet of whicb is, that President Lincoln has turned cotton SJiétíOlator. It is as follows : The sttamboat Progress sorne lime ngo, was ohartered in the interest of Win, Butler & Co., to go after cotton up Red river. She had on board an agent named Tunstall, who carried a permit from the President, whieh perrnit was endorsed by Getieral Banks and Adrnirul Porter, directing the army and JNavy to give all necessary a&sistance. On reaohing the mouth of ihe Ouaeliita river a rebel officer and guard caine on board and guarded the boat up that strttam to a place where 1389 bules of cotton were taken. The rebel officer reeeived pay for the cotton in sterling exchange, guarded the boat back lo Red river and tb jn left it. The boat was afterward burned and the cotton lost at Dead Men's LJeud, twenty miles from Natchez. The President and hs partners, who are thouiiht to be Lamb & Butler, of Springfied, and Albert Pearce and Mr. Peake of St. Louis, would have made at least a million dollars had the cotton rouehed port, but it is the supposition that it was not in sured, and that they have lost money."