At half-past ten o'clock the grand pageant was fully displayed. As far as the eye could reach the brilliant procession filled the streets, presenting a glittering, undulating line of infantry, artillery, firemen, laddermen, axemen, zouaves, cadets, grangers, masons, templars, highlanders, citizens, &c, with gleaming arms, rustling flags, soul-stirring music, and other manifestations of patriotic enthusiasm. Nearly every window, piazza and house-top was crowded with feminine loveliness, to cheer with their smiles and lend their graceful approbation to the _moving_ exhibitions of the occasion. On the side-walks "miles of spectators" were seen submitting to the stifling effects of clouds of dust, with the laudable desire "to see and be seen." While immense flags were floating to the breeze across the principal streets, countless numbers of miniature ones, in red, white and blue, fluttered from windows and porches. A large number of military and fire companies followed by delegations of the Masonic Order, Good Templars, Odd Fellows, Caledonian Clubs, Grangers, invited guests, visitors, &c, all joined in the grand procession to the fair grounds. EXERCISES AT THE FAIR GROUNDS. Arriving at the Fair Grounds, the immense concourse of people gathered around the large stand, which had been erected amidst a clump of trees, for the ladies and invited guests. The stand was beautifully decorated with evergreens, festoons, flags, hornets' nests, and other emblematic devices. The ladies of the city had been diligently weaving these evergreen and floral adornments for several days preceding the Centennial. A precious bouquet and wreath, sent by Mrs. L.H. Walker, from the grounds of Washington's tomb at Mt. Vernon, added a venerated sanctity to the whole. At 11 o'clock, Rev. Dr. A.W. Miller, of the First Presbyterian Church, opened the exercises with an eloquent prayer. The "Old North State" was then rendered in stirring tones by the Citizens' Band. Ex-Gov. Graham then called the assembly to order, and said there was cause to congratulate the vast assemblage of patriotic citizens convened on this centennial occasion, for the bright, auspicious weather that prevailed, and for the general health and prosperity of the country. He felt highly gratified with the patriotic demonstration, and rejoiced to see in our midst so many prominent citizens from sister States. The Governor of North Carolina, and several of the Judges of her Courts were present. The Governor of the far-off State of Indiana, (Mr. Hendricks,) was here, representing one of the great Western States which sprung from old Virginia. There was a representative present (Mr. Bright) from Tennessee, the daughter of North Carolina. The Governor (Mr. Chamberlain) of South Carolina; the ex-Governor (Mr. Walker) of Virginia, and a large delegation from both of these States were all present to participate in the centennial festivities. In the name of North Carolina, he bade all a hearty welcome.