Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-21
NEW BOND ISSUES
HOLD ATTENTION
General Market EaSier-Size
and Importance of Of
ferings Is Feature.
ny CHARLES r. sPEARE.


Special Dispatch 10 The star.
NEW YORK, December 21.-The
size and Importance of the new issues
of bonds that came into the market
today were the subject of more com
ment fin investment circles than the
fluctuations taking place in old issues
The market generally was easier
Not only were there evidences oil
profit taking in the convertible INDUS
trials, hut also i'm the second-grade
rails and public utilities and in some
quarters of the foreign list.
Andes Conner Is reacted at one
time az points. with the Street new
looking more closely into The posi-
hilities of the stock into which the
bonds are convertible. Anaconda rs
were steady The rubber and tire is
sues were a trifle soft, as were pack
ing house. oil and coal company is
sues. Sinclair consolidated and Pan
American issues sold lower: There
has been a small amount Of liquida-
ton recently in Consolidation Coal 5s.
Government Bonds Rise.
United States Government long ma
TURTLES advanced moderately, but the
movement stopped when the 3sss
touched 1913. Italian government rs
sold well above IS. although 1t was
denied that there were to be further
loans In this country. The new Pol.
ish IS were again under pressure, and
with the terms of Peru's loan an
nounced the az and per cent bonds
declined
Not for some time has there been
an amount or diversity equal TO
that in today's new issues. In nearly
every case the offering represented
-sr mt
affairs of the borrower.
Peru sold $50, 200, 900 of the 6 per
cent bonds on a $50 basis. They
went off quickly Previously the
country had been financing with IS,
115s and as and will call some of
these from the proceeds of the new
loan The coupon rate on these bonds
is now the same as those of Argen-
tina, Chile and Uruguay. though the
price fixed is. of course. we'll below
that OF the other countries.
The next largest loan of the day
was SAP 100000 Sinclair Crude Oil
Purchasing Co. 51as. which are to
run for 10 years. This is in the nature
of refunding loan as it takes UP the
outstanding 6 per cent notes due Feb
ruary ! in the amount of about s40.-
100000. The obligation is jointly made
by the Sinclair Consolidated Oil
Corporation and the Standard Oil Co.
OF Indiana, who agree to purchase
the entire amount of crude oil and
tankHge on demand at not less than
los per cent of the amount of the
bonds outstanding under the present
agreement.
Florida Power Issue.
The third issue in point of size
was the per cent first mortgage of
the Florida Power Light at 9715
or exactly on the market for the out
standing bonds. There are few first
mortgage public utility bonds under
strong management available today
al s7h.
The Central Railroad of New Jer-
sey sold per cent legal bond at
9Sm, the first public offering of the
obligations of this road in many years.
The SIS of the same mortgage were
quoted today at 1854. This also was
a refunding operation.
An interesting issue was that of
the Philippine governments, whose
Az per cent bonds were brought out
at 109. an unusually high premium at
which to start an issue.