Rensselaer Semi-Weekly Republican, Volume 22, Number 89, Rensselaer, Jasper County, 26 July 1901 — CORN BELT IS PERISHING. COMMERCIAL AND FINANCIAL [ARTICLE+ILLUSTRATION]

CORN BELT IS PERISHING.

COMMERCIAL AND FINANCIAL

Rich Scope of Country Heine: Devastated by the Terrible Drought. The corn belt is being devastated by drought. A corn crop with a money value of $54(>,O0O,0OO is withering away. A general rain would be worth SIOO,000,000. But if no ruin come and the high temperature continue, there will be a loss of millions. The great corn-growing States are Indiana, Illinois, Missouri, Kansas, Nebraska, and lowa, States produced Inst year 1,278,238.072 bushels of corn, valued at $394,042,883. All these States are in the grip of a destroyer as paralyzing ns the shifting sands -of the desert. Within the limits of the stricken district are seven other corn-growing States —Ohio, Texas, South Dakota, Minnesota, Michigan, Wisconsin, and Kentucky. These States produced last year 441,000,000 bushels of corn, valued at $151,000,000. Outside of these thirteen States there was grown in the United States 380,000,(KM) bushels of corn. All of the corn States are more or less affected by the drought, but in the thirteen States the bulk of the world's corn crop, representing $540,000,000, is being scorched off the earth. The destruction of the corn crop would be u menace to all the commercial interests of the West. The loss of tin* corn crop would mean loss' to the railroads, to the great manrtfacturiug plants, to the ocean steamship lines, and to European interests that last year puid us $72,000.000 for corn. There have been times when the eyes of the world were turned to Chicago in ruins, to Gnlveston overwhelmed by a flood. Now they are turned to the perishing corn belt of the United Stntes. A Vain sweeping from the gulf northward, or from the mountains eastward, or from the lakes westward would bring firmness to the markets the world over and would give hope to millions of despairing farmers. . . The total wheat crop of the United Stntes might fail and the other nations of the earth would and could contribute toward making the shortage good. When the price of wheat flour in this country advances beyond a certain point wheat of the world is directed toward our ports, and if the price remains excessive the bread eaters of the world turn to corn floitr. They have done it more than once, and their doing of it has brought several wheat corners to an inglorious ending. Wheat furnishes a staff of life for man. but corn furnishes a staff of life for man and beast.

Business men have tried in vain to bring sufficient influence to bear upon the opposing lenders in the steel strike to effect a settlement. It is clear that no compromise is thought of now. The steel corporation announces that it will grant no concessions, and the strikers hope-, fully say that they will win in the end. If each side lives up to its word a long contest may be expected. But the interests at stake are so vast that disappointment will be felt if some of the great financial interests of the country are not strong enough to restore harmony between labor and the largest aggregation of capital in the world. Anxiety is caused to more people by the unsatisfactory outlook for corn. Kailroad men in the West insist that the traffic of the roads is so diversified that they will not suffer materially from the loss of the corn, but individual Communities will. Fortunately the crops have been abundant for so long that farmers have been able to save Hgainst such an experience as this. The destruction of the corn and oats crops will decrease somewhat the purchasing power of the West. A few merchants have lies itated on this account to commit themselves to large orders, but the great majority have not shown timidity. Labor disturbances other than in the steel plants are no longer possibilities for tronble. The passing of the machinists' strike will be followed, events indicate, by an cud of the strike of the stationary engineers in the anthrncite eoal mines. Both -stock and grain exchanges were active during the week. Wheat was higher in the expectation of a wide market. The net advance, in corn, occasioned by the continued drought and bullish advices from the Southwest, was 5 cents. Stocks, have been sensitive to the three factors of crop conditions, the steel strike, and the rounding out of th'e community of interest principle in the Northwest by the nomination of a harmony board in the Northern Pacific Road. Two roads yet remain to be dealt with before absolute community of interest will prevail in that quarter.