The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-03-01
Bond Market
BY STUAR1 r. WEST
tCopyrsght. 10z2.D

New York, March 1.-The sus-
tanned strength of all exchange
rates, the speculative demand be-
hind the advance of a number OF
low priced rails and q slight cas-
ing of the call loan rate were the
important factors back of the con-
tnued buoyancy OF bonds on the
stock exchange today. United King
dom and French government is
sues were actively dealt in around
the closing high levels of yester-
day, while several other members
OF the foreign government group
advanced to fresh tops. Toxic 5s
up over 6 points and the Danish
and Swedish loans were notable
examples. Kingdom of Italy 6las
made little response to the sharp
upturn in the exchanges. Liberty
bonds were during the most of the
session. Most of the. leadership
which the Missouri, Kansas & Tex
as and Frisco bonds have held for
some time in the active railway
list was augmented today. All the
new Katy" maturities worked to
record high prices, and SO did both
the income IS and adjustment IS
among Frisco issues. Missouri Pa
cific general As also reached their
best price for the year and the
strong Chicago, Milwaukee and
Puget Sound As rose over a point.
Other railroad bonds which had an
upturn were the Baltimore & Ohio
refunding 5s and the Missouri Pa
citic SIS of 1926. Greater New York
Traction maturities were irregular
with a further advance to a new
top in Brooklyn Rapid Transit rs
and a sharp decline in Third Ave
nue. adjustment SIS. The weakness
in the latter was due to the disap-
pointment in the amount of the in
terest payment, for the period end
ing Dec. 81 last, authorized yester-
day on the adjustment bonds, and
the statement during January fall
interest was not earned. New York
Railways and funding As went up
3 points, while marlborough re-
funding 5s sagged. In the indus
trial section the strength OF the
oil and Public Utility was note
worthy. The bulk of industrial is
sues were little changed.
Blair and Company this morning
announced the quick absorption of
a new issue of 81 900 900 City of Sac
Paulo thirty year s per cent ex-
ternal secured sinking fund gold
bonds. In addition to being the di-
rect obligation of the city of Sac
Paulo they are to be secured by
first charge on various tax re-
ceipts. Following their admission
to trading on the curb exchange to-
day, these bonds were bid up above
10Ok.
Chicago, Peoria and st. Louis
Railway company has asked the In
terstate Commerce Commission for
a government loan of 1000, 900 for
ten years with which to meet the
roads maturing Indebtedness.
A syndicate headed by Halsey,
Stuart and company, Inc, today Of
fered an issue of 100000 first
mortgage per cent gold bonds Of
the Cudahy Packing Company at
So and interest to yield about $50
per cent The bonds are due De-
cember, 1916, and are a direct first
mortgage on all real estate and
p. operties of the company valued
at excess of $24, 100000.
Eastman Daltman and Company
and the National City Company sold
$500, 900 City of Durham, N c., 5
per cent serial gold bonds at prices
to yield about five per cent The ma
turtles run 1924 to 1862. Another
syndicate today offered S2,S00,000
City of Atlanta, Ga, 5 per cent
bonds due serially from 1925 to
1861, and priced to yield from 4.65
per cent to 4.55 per cent according
to maturity.