Sad looking dogwood

I planted a red Dogwood (Cornus Florida) this spring. It is now extremely sad looking, with ugly yellowing leaves with dark blotches. I planted another one (not very close) this spring that is doing just fine. Other nearby plants look fine (butterfly bush "Black Knight", forsythia).
Its possible that its gotten too much water -- we've had an extremely wet spring and early summer. I see a few mushrooms growing in the mulch near the base. That doesn't seem like a good thing. Is that bad? Assuming it is getting too much moisture, what can be done? I thought I planted it in a spot that would drain well -- there's a small slope -- but maybe not. Is moving it or replanting an option at this point? Is there any other problem that it could be having?
Swyck
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Sadly, Cornus florida is prone to anthracnose, an fungal disease. It's causing "dogwood decline" among these beautiful native trees. Your tree could have been infected before you bought it, or it could have developed after you planted it. It won't necessarily spread to the other tree--I've got one dogwood that has been slowly dying for years, and another that seems to be somewhat resistant. Do a google search, and you're bound to turn up lots of information. I believe there are new cultivars out there that are more resistant, and kousa dogwoods are a lovely substitute, although they lack some of the charm and graceful branch structure.
The mushrooms probably just incidental. There's always fungal spores around, and in a wet year you are bound to get some. They are not generally a cause for concern.
Sue snipped-for-privacy@earthlink.net Zone 6, Southcentral PA

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