We left Memphis at or about 6 p.m. of the 27th instant with a large number of passengers, including several officers and about fifty discharged or furloughed soldiers.  Of this number six were paymasters returning to Saint Louis from payment of the troops in the field.  They had with them, I was informed by one of the corps, about $40,000.  The steamer reached Randolph, Tenn. about 12 o'clock of the same night, landed, and proceeded to take on board eight bales of cotton under permit of the military authorities at Memphis, the port from which the boat was cleared. The cotton belonged to one Harris, who was the first to leave the boat.  He appeared to hasten at once to the top of the bank and immediately a party of armed rebels, numbering, I should think, at least fifty, rushed toward the boat, discharging their arms, and attempted to get on.  Only six of them succeeded, as Capt. Alexander Zeigler, master, as soon as they were discovered, ordered that the steamer be backed into the stream, which was done, leaving the second clerk, Mr. George Atherton, and crew ashore.  The rebels on board entered the engine room at once, ordered the engines to be reversed, and the boat run to the landing.  By their knowledge of their duties and their coolness they succeeded in only complying with part of their orders, kept the boat at a sufficient distance from the shore to prevent others from getting on board.  Defeated in their effort these rebels then attempted to reach the pilot and compel him to execute the orders they had given the engineers.  By this time, the passengers had not only become thoroughly aroused, but most thoroughly panic-stricken.  The appearance of the rebels in the cabin and their orders to surrender gave rise on the part of many to the belief that we were then past relief.  The only arms on board were pistols in possession of the officers, and in many cases these were either with their baggage in the party's room or in unserviceable condition.  My first effort upon observing the critical condition of affairs was to see that orders were given not to land the steamer under any circumstances, knowing that under way these rebels on board could easily be disposed of by superior numbers.  Majors Smith and Beeler, paymasters, with their pistols, advanced to the forward part of the boat just as the men before mentioned were ascending to seize the pilot.  Shots were at once exchanged and Major Smith severely wounded, from the effects of which he died on the evening of the succeeding day. Major Beeler received a severe wound in the breast, but continued to fight until he had killed one and mortally wounded another.  He then was able to return to the cabin and lingered until about noon of the succeeding day.  The rebels then observing their failure to capture the boat and being aware of their own danger, escaped by jumping overboard. I do not know whether they succeeded in reaching the shore or not.  Mr. L. F. McGowan, paymaster's clerk, one of the engineers sick in his berth, and a negro were severely, though not fatally, wounded.  Majors Smith and Beeler deserve great praise for their bravery and presence of mind.  Both had previously served in the line of the army with commendable distinction.