Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-18
BONDS TURN DULL
AFTER EARLY GAIN
Market Opens Higher Follow
ing Trend in Stock
Trading.
BY F. H. RICHARDSON.
'cial Dispatch to The Star.

opeCldl DlSpatch to The Star.
NEW YORK, December 1S-Bond
trading turned dull today after an ac-
lively higher opening
The market, which on Wednesday
showed itself insensitive to stock moves
ments to the extent that its recovery
Jagged over two hours behind that of
equities, was much quicker today to
follow the big board. Tapering OF vol
ume down to small proportions and
sagging of prices from their highs OF
the day conceded on the two marts.
Time money rates showed a slight
frmnesS in point of supply, though there
was no quotable change. Volume dur
ing the first hour was equal to that OF
Wednesday, but subsequently dropped.
Before the opening surge upward had
run its course there were gains OF / to
4 points scattered through the list. The
wider advances were in secondary do
nestle issues and foreign dollar bonds,
where buying was based on the theory
that Sizeable profits would ensue from
any general advance, and the smaller
advances were in the high-grade do
nestle group that had not declined so
drastically during the period of falling
prices.
During the Irregular period that fol-
lowed, most of the small gains in the
prime favorites were held, while the
wide advances in junior securities were
generally lost
AtchiSon General Is with a gain of
e point illustrated the trend in the
seasoned type of investments. Canadian
National SIS, New York Central As,
Frisco "a Is, Northern Pacific As,
Nickel Plate 412s, Chesapeake Corpora
ton IS, American Telephone SIPS,
Standard Oil of New York 41as, Utah
Power & Light SIS, Utilities Power g.
Light SIS, New York Telephone 412s,
American & Foreign Power SIS and In
ternational Telephone, 4l2s were all
strongly supported International
Hydro-Electric IS, which on Wednesday
recovered sizeable loss, gained another
2 points
United States Government obligations
were unchanged to 4-32 higher. Con-
vertibles advanced strongly with stocks
and then turned dull from the same
cause.
On the Curb Exchange Canadian gov
eminent As of 1860 were about un-
changed and were turned over in small
quantities against the $4,000, 900 deal
ings in them Wednesday. Explaining
Wednesdays drop of points in this
bond, investment houses pointed out
VIZ AAldbOAAOS SAClo at ~ lS
parable with the yields of other out
standing Canadian government issues.
The issuing syndicate put out the bonds
at 95h. at which price their yield was
definitely narrower than similarly
secured descriptions.
Van Sweringen IS notes. Cities Serv-
ice IS, Associated Gas g. Electric SIS,
Gillette Razor SIS and other active curb
bonds had early gains, which We're later
largely Cancelled
Junior railroad obligations such as
st. Paul adjustments, St Paul SIS, Den
yer 6c Rio Grande Western SIS, Erie
general lien As, Erie SIS, Florida East
Coast IS, MisSouri-Pacific As and West
ern Maryland As made good progress at
the start, and in this group most of the
advances were held. Industrials such
as Goodyear S. McKesson e. Robbins
512s, Sinclair Oil rs, Hudson Coal SIS
and Manhattan Railway As lost their
initial advances, but showed a tendency
to. remain above Wednesdays closing
prices.