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Show EUROPE 15 BUYING i IEI1 WHEATj British Guarantee Against Loss by Ocean Capture Is Factor in Prices CHICAGO Aug 4 European buy ng of American wheat in defiance of the m 8 t haps of war began today Brit sh gov v ernment guarantees against poss b e It losBes by ocean capture of any part of 1 the millions of bushe s prev ous y under contract to go to Eng sh ports opened the way for add tional purchas ng not withstanding that the guarantee had not ?et been forma ly extended to t ansae ions entered into Blnco war was dec ared Prices of wheat leaped upward to an extreme of Sflc a bushel and c osed etrong with net ga ns of 2Jc to 28c Al the other leading atap es on the board of I trade Joined in the advance. Both for e gn and domestic Investors appeared to believe that the s gn ng of the b to put under the protection of the Amer lean flag a 1 the sh pp ng needed was on y a matter of a few hours and that the temporary financial strain here had been relaxed According to a leading exporter all of i the news regard ng bus ness In the grain world today was good news except one I (thing namely that fore gn exchange J bankers had not yet found themse ves ab e to purchase fore gn bills aga nst . foodstuffs. Negot at ons seek ng a satis ( factory bo utlon of this h gh y Important matter were in progress with good re suits hoped for At a meet ng of the Chicago board of trade d rectors th s even ng steps were tken to request the chambers of com merce of the United States to pet t on the secretary of the treasury to buy . $25 000 000 to $40 000 000 of fo e gn ex ' 1 change to be used to fac tate the export j of grain It was also dec ded to me i morla ze Pres dent "Wi son to use h s influence with the govemn ents of Ger many Great Britain and Franoe to have foodstuffs dec ared not contraband of war In add tion the meet ng appointed a committee to out ne a p an for a new c ear ng system on change here reduc ng marg ns so that no money w,ould be t ed up except on net d fferences on da y balances between profits and osses in Btead of the gigantic sums now requ red |