Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-21
BONDS IRREGULAR
IN QUIET MARKET
Domestic Group Is Fairly
Steady, but Foreign List
Continues Weak.
BY F. II. RICHARDSON.
Dispatch to The star.


NEW YORK, November 21.-Bonds
were irregular today. In the domestic
list advances outnumbered gains. In
the foreign department declines were
more numerous.
On the one hand there was the de-
sire of investing institutions to clear
out Of their holdings all but the cream
of the gilt-edged list. Thus legal rails,
public utilities, municipals and United
States Government obligations were
strong. On the other hand was the
desire of banks to avoid danger of And
ing themselves holding large amounts
of frozen assets.
The result was q lower trend in for
eign dollar bonds, which, up till the last
week or so, had been largely bought
because of their former oversold con-
dition. Money rates were unchanged.
Volume was still tapertng OF.
At the opening the individual feature
was the weakness Of French govern
ment issues. Both the Is and TVS
were lower. It was not the width Of
their declines that was important, but
rather the fact that they showed any
tendency at all to recede from the firm
levels they have maintained all through
the markets recent tribulations. 1t was
a reflection of the French banking sit
uation.
South Americans were lower, some of
them widely so. Chile IS, Bolivia IS,
Brazil 6las, Brazil IS, Cundin 'marca
6Ias. Colombia IS and Peru IS were of
a point or more. Montevideo Is and
Uruguay IS also were heavy. Japanese
5hs dropped fractionally. Rome 612s,
Norway IS, Poland 8s, Deutsche Bank
IS, Kreuger g. Toll SIS, Lautaro Nitrate
IS. Austrian Is, Swiss 512s, Vienna IS
and Warsaw rs all were weak. German
government 5iks dipped again to their
low OF the year. Other German bonds
were dull.
High grade domestic obligations
flrmed. United States Governments
were the leaders, Liberty 31as and first
and fourth 4Hs all equaling their pre-
vious high marks for the year New
York Central Is, Inland Steel AVS,
American Telephone 5las, Philadelphia
Co. S. Columbia Gas IS and American
g. Foreign Power SIS went along
Despite an obstinately firm tone on
the Stock Exchange, conyertibles were
lower. This mirrored Thursdays late
decline In stocks rather than today's
developments.
secondary ana Seml-SpeculatlVe issues
did not acquit themselves very well.
Chicago g. Eastern Illinois SIS, st. Paul
adjustments, Florida East Coast SIS,
Missouri Kansas-Te adjustments,
Boston e. Maine SIS, Certainteed 5hs,
Goodyear SIS, Goodrich IS and 6l5s,
Paramount Publix 5ks and Hudson e.
Manhattan income SIS all were heavy.
There was some Improvement else
where. New York City fractions were
firm on the news that the surface lines
had come to an agreement with the
city over the change from trolleys to
buses.
New issues dropped to a mere 81 ,000,-
900 in municipals. The Hungarian
government. which for some time has
been anxious to arrange a long-term
loan, was accommodated with a short
term credit in New York, London,
Amsterdam, Rome, Stockholm and
Geneva. OF this, 100000 was taken
In New York. The credit is in the form
Of discount bills maturing November
81, 1881. They have been placed pri-
vately here at SIS per cent.