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Show WHEAT ORDERS ARE CANCELLED Grain Trade Puzzled by Sudden Sud-den Act of European Gram Buyers. HEAVY LOSS ACCEPTED Contracts for Two Million Bushels for September Shipment Cut Canadians Cana-dians Also Cancel. Chicago, Aug. 13. Cancellation yesterday yes-terday by representatives of tho al-llos al-llos of contracts aggregating nearly 2 000,000 bUHhela of wheat bought for September shipment to Europe, was puzzling to tho grain trade early today. to-day. Not only were cancellations reported report-ed by Chicago concerns, but some seaboard sea-board exporters claimed to have closed out open contracts Canadian exporters, also, reported some cancellations. cancel-lations. James A. Patten, a former board of trade operator, discussing" the cancellations cancel-lations said: "If peaco were in sight Europe would still need wheat and she would have tho credit to got it. The cancellation can-cellation of orders, thereforo, would seem to indicate one of two thlngB cither Europe has found a source oY new supply which means Russia; or Europe finds that she cannot pay." Large F-lrms Close Contracts. It was said that two of the largest firms which cancelled contracts wore tho Armour Grain company and J. Rosenbaum Grain company. George C. Marcey, president of the Armour Grain company, said. "I am unable to understand what has happened abroad. It must be something important, or they would not have- cancelled purchases that show such profits, Possibly, It Is that the Dardanelles are to be opened But we have no Information. England ants to hold her gold and, by buying wheat in Canada and Australia, she can use her credits and keep her gold, with which to buy munitions. If Europe does not buy our wheat freely, free-ly, it will mean much to us and make a great deal of difference in prices." Europeans Loso Heavily. T'.manuel Rosenbaum of the J. Rosenbaum Ros-enbaum company, said "Our own calculations were not very heavy It was about three dajs ago that the buying stopped The European buyers started to beg out of their purchases, accepting a loss of about 8 to 10 cents a bushel, I should say." |