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COL. JAMES E. CLAY PASSES AWAY. Lexington. Ky.. July is. — Col. James E. Clay, n descendant of "the great commoner. " Henry Clay, and one of the most prominent breeders of running and trotting hot-sea »P Kentucky, died yesterday. Mr. Clay, who was sixty-one years rtf age, passed away at his country estate. Marchmout, Bourbon County, a I-w uiibs from this city.