The Camden chronicle. (Camden, Tenn.) 1890-current, 1901-07-19
FARMERS LOSSES
REACH MILLIONS
Fearful Heat Ruins Crops
In the Northwest.
KANSAS AND MISSOURI SUFFER
A Possible Tremendous Shortage
Sends Prices of Both Corn
and Wheat Skyward.

Fridays adyices to the Chicago board
of trade and grain commission men
were that the heat and drought in the
southwest was unbroken. It Is said
that the damage OUTSIDE Of Kansas and
Missouri is comparatively slight. but
that unless there Is relief in the next
ten days the corn crop situation viii
be beyond relief.
The loss Of hay and potatoes Is also
great, second only to the loss Of corn.
1t is estimated that the farmers Of
Kansas and Missouri have already lost
$50,0o0,O0O. The straits in which the
corn crop is said to be situated owing
to the intense heat and the lack of
moisture il reflected in the course Of
prices Of that cereal on the board Of
trade.
Corn for September delivery at the
opening friday morning sold simulta-
neously from So to So 3-4c, compared
with the close Thursday at 81 3-8 to
81 1-2c. Shortly afterwards this op.
ton was quoted at So 7-sc, or 9 cents
higher than the price one month ago,
shortly before the heat and drought
had begun to arouse misgivings as to
the future Of the crop. Not in years
have natural conditions attracted the
present prices for corn, although ma
nipulation has at times forced them
higher. There was a sharp demand
from the country during the day, but
local spectators sold to realize prof
it's, claiming that all damage so far had
been amply discounted by recently pre-
vailing prices.
Corn Prices Go skyward.
There was q scene of great excite
ment In both the wheat and corn mar
kets at New York Friday, the trade
aggregating one of the largest days
totals in year or more, especially as
to corn. Prices jumped 5-Sc during
the day in corn, making 1-2c advance
for the week. Orders poured into the
market so fest that brokers could
scarcely execute them at the prices de-
sired, and the unusually small crowd
around the corn ring was increased to
such an extent that at times 1t almost
rivaled that In the wheat pit. The
farmers have taken the ball side in
their hands, and in face of heavy real
izing on the part Of the professionals
have kept prices going until the cry is
for 60-cent corn in Chicago. Already
prices are so high in the southwest
that farmers are feeding their stock
with wheat, and unless rain comes
very soon many fear only half the corn
crop will be gathered, where only a
month ago 1t looked as Il one of the
largest yields on record would be har-
vested. Where the present bull move.
ment will end depends a great deal
upon weather conditions in the leading
corn states.
Wheat also took an extraordinary
jump Friday, and from being in a posi-.
ton almost entirely friendless at once
leaped into popularity with the bulls
and gave corn a close race for leader
ship in the matter of advance for the
day. Prices at New York closed 2 IL
to 5-Sc higher than the previous
night, especially at the top point, Pro
fessionals were caught on this bulge
in wheat and some of them lost about
all the money they have made through
selling out long corn to the bull public
After weeks and months wheat has
been persistently hammered about
from pillar to post by everybody or
the idea that the crop would be a rec
ord one and more than enough to make
up the foreign shortage. The result
has been huge short interest, par
Of which was caught in Fridays big ad
vance.