DROUGHT EFFECTS

Hokitika Guardian, 13 August 1930, Page 5

DROUGHT EFFECTS

PRESIDENT’S ' PREDICTIONS

[United Press Association—By Electric Telegraph.—Copyright.]

(Received this day at noun.) WASHINGTON, August 12.

The announcement by President Hoover;'that\he. feared a greater loss ;of crops than seven per cent., as predicted by, the Agricultural Department ; (cabled yesterday) and a three cent increase in the price of maize on the Chicago market to a dollar per bushel in December deliveries, were the highlights of the national drought situation. '■ The President stated he is can- : celling his holiday plans to remain at the centre of relief activities. He is giving special attention to the problem, created by the diminution, by 90 million bushels, of maize crop which is the staple of stock feeding and the immediate shortage of food in Kentucky and Tennessee, where conditions are believed to be most serious*. On 'Thursday arid Friday,' President' Hoover Will confer with' State Governor's arid form an organisation representative on these‘and kindred problems. ■ “ The situation on the New York Stock Market was quickly reflected by the Unfavourable report to-day from the drought areas 1 , many feeling tire serioUs: pressure; • -Sears; Roebuck : and Mont"gomery r Ward, great retail trading 'Houses rcached new low levels. DROUGHT HAVOC. = WASHINGTON, August 12. • Another agricultural product which is seriously affected by the drought is •butter/ production of which has been gradually decreasing since Ist June and the pripc of which has risen 5 cents since Ist July. Bran, which ,is being used as stock feed, has risen six dollars a ton. Cleveland has reported an increase of a cent per quart of milk; r \ r< > - 'Vegetable prices ’in New York increased 20 cents over' the . week end with diminished supplies from eastern sources and. the'necessity for western and southern importations. ■ A;*'; interesting’ twist has been given to the 1 drought situation ■' by reports from Utah’and’Flodira indicating considerable danger .'from floods, particularly in the latter state where ’ the overflow’to the Okeegbeebee lake destroyed many crops. .