Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-12-09
BOND PRICES UP
IN N. Y. TRADING,
RETCHSMARKS RISE
Market Developed Strength
During Afternoon-New
York Central Defers Divi-
dend.

NEW YORK. Dec S,--During the after
noon the bond market developed
strength. although trading was not act
i've. and prices were generally UP from
last nights closing. i'm some cases over
point The two principal topics Of In
terest today we're the action Of the New
York Central directors in deferring the
regular quarterly dividend of IA per cent
and another rise in reichsmark exchange
70 new high level for the present move
ment.
Colorado and Southern refunding AIS
were feature, advancing points to I6
from yesterdays close The sharp rise
was said to be the result of the action
Of the Miners Union in calling of the
atrike in the Colorado coal fields Mis-
souri, Pacific 4s we're active, being up
points.
The most active issue was the 6 per
cent. debenture bonds. when issued, Of
the Consolidated Gas Company OF New
York, which was admitted to the list
shortly after noon The opening trans
action was made at liOA, a block OF
$1,000 changing hands. The price later
dropped to 1iO. The total sales we're
10000. The bonds arc due in 1920
( Inspiration Copper receipts, Sd paid IS,
which we're strong in the trading yes
terday, we're up ". Texas Company
convertible 6s were up rs, while LorIllard
rs were up points at d.
The vigorous buying which made
Rock Island issues prominent features
In the last two weeks was no longer In
evidence, and those issues sustained
moderate losses under small selling.
There was diminished trading in stocks,
through the Clearing House and on the
ca
ment ofshrd shrdI shrd cshreshrdcmfwy
heavy, with offerings at 4sik The state
ment of untitled orders to be published
tomorrow Is expected to show decrease
of over 200, 900 tons, as new business has
been slow and under the output Of the
corporation.
Stock Exchange authorities are prepar-
ing new ruling in regard to trading in
international issues The purpose is to
prevent trading in stocks in which foreign
holdings are large. but important foreign
bankers state that all American issues,
from Corn Products to Sears-Roebuck, are
held in large amounts on the other side
Of the Atlantic, and that an embargo
against so-called International issues
would prevent trading in all but a few
stocks Brooklyn Rapid Transit is the
most important exception, foreign hold
ings OF that stock being comparatively
small.
Exchange on Berlin continues so strong
as TO cause general comment There
was a further advance to 92A, for
Reichsmark cables. with the supply
so small and demand so urgent that
sellers could practically fix their own
prices. The demand is still attributed
TO sales of German-held bonds. but bank
ors with Berlin connections insist that
heavy imports of German goods through
Scandinavia and Holland have been so
large in the last week as to give a good
reason for the sudden demand for remit
! tances to Berlin. Nine ships from this
gateway OF German commerce have ar
rived at this port in the last week. all
heavily laden with German goods.
Demand sterling sold at 4.S7h and cables
at 4.s7ss.
Announcement that the New York Cen
trial had decided to defer action on the
quarterly dividend of IA per cent. caused
much comment In the street The an
pouncement came as a surprise. although
there had been considerable comment re-
Gently as to whether the dividend would
be declared, inasmuch as the company's
earnings have not been showing up well
In comparison with last year. Similar
action was also taken by the Lake Shore
an underlying company.
Call money loaned at sIk per cent, and
there seemed to be an oversupply.