New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-04-13
I'm Wall Street
An Active Day in Bonds

An Active Day in Bonds
Transactions in bonds on tic New s
\ ork Stock Exchange, which represent /
n turn-ove that rarely equals the i
over-the- counter trading. amounted "a !
$2S .694 600. This volume Of business
was the heaviest since December 3D. /
1920 when sales to establish losses +
for tay reports swelled the total 70
s3s 233 900 On the same date of TIC .
previous year. transactions. similarly .
motivated approT mated $4,000 coo, /
and OF December 20. l1tS exceeded I
$40 100000. The leYg"st daily total last
year was around $26000n0o Trading
was on the largest scale since the ad- !
vance began, dealings being subject TO
no seasonal influence and increasing II
response to the announcement o.
3h per cent rate on n Treasury CIR
tificate Offering. No class Of bonds
was neglected by investors, but buying
orders we're largest in the case Of
Liberty bonds and issues returning al
current prices relatively high yleid.
Liberty Bonds at Par
Exclusive Of the Victory notes. five
Of the Liberty loan issues sold at par
or better yesterday, with other repre-
sentatives Of this group only shade
lower. The impetus which carried quo
tations upward was derived from the
announcement Of the new 3'a per cent
Treasury note issue, buying orders be
ing received from all sections OF the
country and from all classes Of pur-
chasers. The third and fourth ~ .
touched par for the first time since
their issuance, while the first gas
rose TO 1905. the highest since The
early war period. The peak for this
issue, t025O, vas recorded in August,
1918 The first AIS and the FRS
second AIS were the other issues 70
reach par. Trading was exceptionally
active, the turn over in the fourth 41.s
exceeding S500O,O00. One block o. 81
900 600 of these bonds was sod a.
par and a similar transaction. at
like price, occurred in the third 4'ss.
New Certificates Well Received
Initial reception Of the new 313 per
cent Treasury certificate issue indl,
Gated that the oversubscri ption Wout Id
be proportionate to that rolled up in
the case Of offerings bearing higher
coupon. The amount sought, S1oO, 900
900, viii probably be applied for by
banks, investment houses, corporations
and individuals in the New York dis
trict alone The larger financial In
stitutions reported that they had filed
appica tions on the usual scale for the
new certificates. Outstanding issues
reacted favorably rather than other
wise to the Offering, while acceptance
dealers, handling a competitive class
of paper, predicted a satisfactory IN
fuence on their business.
Francs and Lire Better Records
Absence Of clear-cut trend In the
discussions at the Genoa conference
was reflected yesterday in rather con-
fused movements in the foreign ex-
change market, the underlying tone Of
which, however, was firm. Francs and
lire again improved upon their pre-
vious high records for the year, Paris
cables selling up to 9.29As cents and
lire UP to 548 cents. Sterling, in corr
trast failed to better its position
appreciably, although cables at one
time touched s4.42 and the close
showed a fractional gain on the day.
Marks lost some ground and the Con-
tinentals generally were irregular.
sThe counting Of the ballots cast at
the annual meeting Of the Submarine
Boat Corporation Monday for and
against Cne present management con
tinued yesterday until $50 in the
evening, when, with the tabulation still
! uncompl eted, another adjournment was
taken until Monday. The inspectors
finished counting the votes of the so
called Rice committee, which is seek
ing a change in the management, al
about 430. When it was seen that the
votes cast in favor of the present man
agement would take several hours
longer it was decided TO call the meet
| ing in session again on Monday when
an announcement concerning the hnal
result will be made.
| Eastman h odak
The first sale of round lot Of East
man Kodak stock for several years was
recorded yesterday on the Stock Elk
change when sale OF 100 shares took
place at $50. The last previous trans
| action Of round lot according 10 the
records, was at 1T, but on numerous
occasions odd lots have been sold
Eastman Kodak was admitted to trad
ing April IL, 1905, so yesterday marked
the seventeenth anniversary of tins
! listing.
Iron Products
The proposed increase in the capita
stock Of the Iron Products Corpora tior
j.