Year: 1876

thousands Of acres of corn at 50 cents per acre,
and this is the best producing district in the
State. Probably it is not as well all through
the State, but little corn has been cultivated
here at all, while the great bulk of the plant
will not be touched, as it is beyond recovery.
The shot, forcing weather. OF the past few
days has no beauties for a corn-ield covered
with water.-if not standing on the surface, SO
near it as to take person to his boot-tops in
the mud to walk through it, while you had to
part the weeds and grass to find the hills of
corn. 1t Is serious question II this country
will raise corn enough to feed through until
the next crop. Yours respectfully.


To THE EDITOR OF THE CHICAGO TRIBUNE.
GooDLAND, Newton Co., Ind, July 1.-THE
farmers and merchants here are feeling very de-
spondent over the continuous heavy rains that
have visited this and adjoining counties for sew
eral weeks back. The farmers are no longer
between hope and fear in regard to their corn
I ty. The wheat is also past redemption, and
oats will be extremely short. This failure
seems to extend through belt of country here
about 50 miles wide, and through Illinois over
Grand Prairie.


SPECIAL DISPATCH TO The CHICAGO TRIBUNE


MENDOZA, H., July 1.-THE hay season is
in full operation at present, and heavier crop
has never been known in this section. Farm
hay is being delivered at S5 and Sc per ton,
and wild hay generally sells for IS less than
tame. Wheat and oats, as far as can ascertain
will not average one-half the usual crop, but
corn, according to present prospects, will be
equal to last year. Potatoes are line and abun-
dant.


Tho Decline in Wheat


FEoM The CHICAGO TRIBUNE JULYl8.


Since the last national holiday. two weeks
ago, the price Of wheat in this market has de-
clined lax cents per bushel, or nearly IA per
cent. This is very important change, as it
involves, or accompanies. similar shrinkage
in the selling value Of nearly all the wheat III
the civilized world. The loss to holders OF
wheat in this city is enormous; and not more to
those who own the wheat now in store here
than to those who have brought much larger
for surprise and thankfulness that none ol
them have failed Except an operator in s'puts
and calls J, though not a few have fonnd the
load heavy one to bear. The reason is that
most OF the parties on the "long" side are
among our leading capitalists, and able to
calmly meet losses which would swamp an Or
dlnary businessman.


The chief cause of this decline is understood
to be the fact that good deal of the wheat in
New York is in a critical condition. The crop
of 1875 was harvested in wet weather, and a
good deal of that wheat was damp enough to
suffer under the intense heat that has reigned
on the seaboard for two or three weeks past
The danger is not so much to grain actually in
store, however, as to that which is exposed to
heat and moist atmosphere for several days to-
gether, waiting for a chance to be unloaded.
About one million bushels Of wheat is now
atloat in New York harbor, with no storage
room in that city, no demand from Europe:
and scarcity of ocean freight room, which
prevents holders from sending the grain to
Europe on their own account, and taking the
risk OF finding a market on the other side ol
the Atlantic.


Under this condition ofthings the New York
market is very much depressed. The best bid
telegraphea yesterday, as made in that city fol
flair spring. was 81 per bushel. People hold
off. afraid to buy; the low price, which would
otherwise be a powerful inducement, being ne
temptation to purchase wheat which may bt
spoiled when delivered. 1t is probable tina
the excitement there is considerably create
that is warranted by the facts in the case; bu
it exists, --and reacts torciby on the Chicago
market, though there is no No. , wheat her,
out Of condition, and no fear that any of it vii
become so.