Evening star., 1928-02-29
TRADE IS HEAVIER
ON BOND MARKET
Broader Movement in Gov
ernment issues-NeW York
fractions Strong.
BY CHARLES r. SPEARE.
Special Dispatch to The STAR.

Special Dispatch to The STAR.
NEW YORK, February 29.--The in.
crease III the volume of transactions IL
bonds today was due TO broa Ter move
ment in United States Government is
sues. These were all strong in anticipa-
ton Of an early Treasury announce
ment concerning the March Is flnanc-
/ ing.
The long-term Treasury certificates
advanced an average of a quarter They
nave been subject to quite sharp changes
recently. losing one day what they gain
ed in the previous session and showing
no definite trend. It is expected that
whatever new securities are offered by
the Treasury must be on n better Lasls
10 the purchaser than thoSc in connec-
ton with previous operations, as money
rates now are higher than they we're
/ when the earlier offerings we're made
/ Liberty bonds mo9ed with the treasury
| lSSueS, the first 4i4s getting above iU3
/. Aside from the local traction group
! theFe were no strong features in the
/ domestic market. Interborough Rapid
Transit 5s rose a point and the Brook
/ iyn-Manhattan Transit IS l., point
This was in connection with the hope
of a higher fare for the former com
pany, Cuba Cane Sugar issues. u. S.
Rubber 5S. Dodge Is and LIQUID Car
bonlc 6S were off TO a point. There
was a further gain of 81, points in
/ the Park-LeXington 6los which have
had sketchy history over the period
( OF the last two years Sinclair 6i,s ad-
vanoed to the best price in Severa!
weeks.
Steady liquidation was. in progress
tn the Seaboard Air Line Junior bonds
and in the Seaboard All-Florida 6s
The adjustment IS sold toabout So the
! consolidation IS for the first time broke
below 50 and the All-Florida 6s were
in the neighborhood of 80, With the
group as a whole lower than it has
been at any time, 1t showed an average
decline from the high of the year Of
about II points. Rallies were feeble.
Florida East Coast 5s were affected
, fractionally. There were small de-
cllnes in the Chicago Great Western
and MiSsouri-Pacific Is.
Italian government. municipal and
corporation bonds were higher as we're
those of Japan, Belgium and Chile
French rails were Stronger than either
The government or municipal issues.
Dealers in municipal bonds were
waiting for their cue from the sale this
afternoon of the $50 100000 New York
CITY notes. although these are really of
cIo siiutG u 10 IE1k6Ct lLlc LAX
exempt market Offerings were made
today by the City of Minneapolis, the
city and county of San Francisco and
there is large new issue expected by
the City of Detroit. Next week Phila-
| delphia will sell $7,50o.0o0 per cents
For several days Wall Street has had
reports, which emanated from Washing
ton that the Van Sweringens had offer
ed the Craftsmanship of the Nickel Plate
Railroad TO L. r. Loree and that Mr.
Loree was to give up his plan for a
fifth system and turn over his holdings
in the Delaware and Hudson. Wabash
and Lehigh Valley for ALLEGATION to the
| Pennsylvania, New York Central, Balti-
more & Ohio, and Nickel Plate lines.
1t may be stated positively that this
report has no basis In fact There was
several months ago tentative pro-
posal from the Van Sweringens to Mr.
Loree. made at one of the conferences
between the five-system representatives.
Nothing came of 1t. as it involved con-
cesSions on both sides. which neither
WINS willing to make. Subsequently. the
executives OF the roads that originally
suggested the four-plan system and Mr.
Loree met and tried to work out
a satisfactory arrangement on the basis
of fifth system which would include
those roads in which Mr. Loree is as
sumed TO have controlling position.