The Washington times., 1922-12-22
BOND TRADERS
NOW BUYING
STOCKS

Irregular Prices Blamed on
Exodus Of Traders to
Stock Market.
BY MUNROE ROBERTS.
Copyright. 1sf3. by Cosmopolitan News
servioal
NEW YORK. Dec. 12.--One ,os
the reasons for the irregular move
ment in prices Of speculative bonds
at the present time. IL the exodus
Of a. good many traders from this
section Of speculative activity to
the stock market. In the early
part of December. when the stock
market was moving erraticaliy, II
was reported that q good many
SPECTATORS turned from stocks to
engage In the buying and selling
Of whelt, cotton, commodities and
bonds. The response Of the bond
market was 20 emphatic that q
good many Of the prognosticators
hailed this as an indication Of bet
ter times ahead for the stock mar.
ket.. One Of the axioms Of Wall
Street is that q rising market II
quite apt to usher in an upward
movement in the prices Of specula-
tive stocks.
There il no doubt also that con-
siderable liquidation has been going
on by investing institutions of var1-
Gus kinds. including savings banks,
insurance and surety companies,
trustees Of estates. etc, and to
this, probably more than to un-
favorable financial developments in
American Industrial corporations. II
due the erratic price trend Of some
bond issues. OF course. steadily
investors, but this should not In
board on q falling market.
Commissioner James F. Oyster,
in charge Of police, today IN
structed Inspector Albert ]. Head
ley, chief Of the traffic bureau,
to make q survey Of conditions in
the streets and report with rec
omm mendations for one-way thor
oughfares in the downtown sec
tions.
"Ons-way streets for all down.
town Washington must come very
soon," the Commissioner told In
spector Headley. 81 want you to
prepare for me a list Of streets
which, in your judgment, should
be Immediately one-way thorough
fares" ..>
Psvements Too Wide.
Thirteenth, Twelfth. Eleventh
and Tenth are four of the streets in
the consested section which prob
ably viii be the first to be desig-
mated one way. F and G streets will
also be considered.
Commissioner Oyster also ex-
pressed the opinion today that the
pavements In many of the streets In
Warrington were too wide. He indi-
Gated that he would seek Congress
sional action to authorize the Com
missioners to reduce pavement space
downtown.
Inspector Headley is agreed with
the Commissioner on the question
Of onsway streets.
"As soon az we take such action
there will be a storm of protest. but
that appears to be the only solution
at this time to the traffic problem
in the congested areas" the in.
spector said.
During the year 1928 railroad
bonds and notes coming In for at.
tention. either by refunding or pay.
met. aggregate about 100000, 900
compared with $2s0. 600, 900 in 1922;
ment, aggregate about 5000. 900, 900
In 1920, according to the Dow-Jones
compilation.
The largest amount Of obligations
falling due in one month in 1923
10 In January. the sum being $780,
00o. 900. and including $23 3,000, 900 in
railroad equipment trusts. As q
rule. the maturities of 1923 are in
small amounts, the largest being
the St. Paul and Northern Pacific
first skies In the sum Of $7.743,000,
which como due February 1. Sep
tembsr has the smallest aggregate,
the amount being $2,73S.6
It IL reported that two new for
eign loans may be brought out in
the early part of the New Year.
These are the Peruvian loan Of $685.
900 900, and the Belgian Congo loan
for $4,000, 900. The details of the
latter, according to Wall Street re-
ports. will be published in q few
days.
New bond issues today aggregate
about $2.500,000. The most Inn
portant Offering is an Issue Of
81 500, 900 6h per cent, first mort
gage. serial coupon bonds Of Bull.
lard Machine Tool Company, Of
Bridgeport. maturing In from two
to fifteen years.