Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-06-30
TREASURY ISSUES
FEATURES IN BONDS
Long Term U. S. Bonds Con-
tinue Advance-Dodge IS
Also Climb.
BY CHARLES. F. sPEARE.


Special Dispatch TO The Star.
NEW YORK. June S0--The feature
OF today's quiet bond market was the
further advance in the long term Unit
ed States Treasury certificates. In adj
dition to yesterdays gains Of from q
to s., there was rise today OF Is &c
IA, 50 that the AIS are nearly point
higher than a week ago in the race
of the severest money test in several
years.
There has probably been some buy
ing by the Federal Reserve Banks tt
replace bonds sold earlier in the year
when this method was being employed
TO reduce the floating supply OF money
available for speculation,
Another advance occurred in Dodge
SIS which sold around IS, / y points
above yesterdays closing. There Is a
fair chance that after the merger has
gone through. and the financial ar
rangenentS are perfected, these bonoS
will be called at ITO.
GOODYEAR SIS were up L point. and
the tone of the United States Rubber
issues was better. The largest oecllneS
in this group the last few days nave
been in the unlisted Gig per cent notes.
Public Service Of New Jersey con-
vertible AIS advanced over q point
the local fractions were firm, ana there
was steady market for many OF the
better grade rails and public utilltleS.
Not mich was done in the foreign de-
nartment where prices ruled Snghlly
above those OF the day previous.
There is much curiosity in Wall
Street as TO the leadership behind the
revival in stock speculation The puo-
lie has not come back into the market
and many Of the professionals ana
small traders on the Stock Exchange
have temporarily retired from 1t ana
are planning long vacations after four
months Of the greatest activity ever
experienced.
Durant, Cutten and Raskob.
The names of Dursnt, Cutten and
Raskob are freely mentioned as among
those having most to do with bidding
I'd prices this week. The Fisher Bros.
are reported to be inactive. but closely
watching the course of events. Most
Of the stocks that have been in the
lead Of the market have been con-
spicuoUs throughout the year.
A canvass of the prominent banking
houses II the street LDQ4C1lSS AIidt Of1Aii-
ion is still two-sided. One Of the larg-
est of the international houses is strong
Nv bssrish on stocks, but moderately
bulliSh On bonds A partner in another
large house stated that while the pub
lie has withdrawn to the sidelines and
is not likely to be a factor for some
time, he did not see how the big fell
lows could be forced out Of their
stocks in view Of the lack Of unfayor-
able conditions and the great resources
they possess and also the large profits
they still have on securities purchased
months ago.
Investment Trusts Liquidate.
Nearly all Of the investment trusts
have been liquidating corporation and
bank and insurance company stocks
throughout this month. One trust this
week sold out a large proportion of all
the stocks held. feeling that it would
repurchass 10 better advantage In latter
part of the year.
One of the public selling features of
the market is the persistent weakness.
Of United States Steel common in con-
traSt To the consistent strength in Gen.
eral Motors common. Both stocks are
backed By practically the same finan-
cial groups.