The Independence County company was --
Independence Guards, Co. E, 8th Arkansas Infantry (Capt. Justus F. Tracy). First Lieutenant John H. Moore accepted the colors from Miss Charlotte Wakefield on behalf of the company.
There were at least three companies named the Arkansas Travellers. The company that received a flag in northern Pulaski County in May 1861 was the Arkansas Travellers, Co. D, 3rd Arkansas Cavalry (Capt. Benjamin F. Danley), also unofficially called Danley's Rangers.
I know I have some information on the Moro Grays somewhere in this rat's nest, but I haven't run across it yet.