Evening star., 1930-12-11
BONDS IRREGULAR
IN ACTIVE MARKET
Losses Are Held to Small
Amounts and Some Is
sues Recover.
BY F. ii. RICHARDSON.
cial Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December 11.-LiQuida-
ton of bonds was heavy and price de-
cllnes were substantial during the first
hour of trading today, but then volume
declined and price movements turned
irregular, though the list was about a
point under Wednesdays close on the
average and at new bottom for five
years or more
The selling was orderly and in most
cases declines were held to fractions.
AS the session wore on, many bonds
made small recoveries. Money rates
were unchanged.
At the opening the market was af-
fected by selling engendered by the
closing of the Bank of United States.
The manner in which this affected the
whole list, high-grade issues, junior
bonds and speculative descriptions alike,
was evidence that much of it was of a
forced character. Such gilt-edge securi-
ties as New York Central As, Atchisoll
General 4S. Canadian National 5s,
Great Northern Is, American Telephone
5i2s. Standard Oil of New York 412s
Duquesne Light 41as, Utah Power
Light SIS and Laclede Gas 5ias dropped
from fraction to over a point.
The entire group of active United
States Government obligations declined
from 1872 to 1882, later making small
recoverieS. Inland Steel Alps were of
Ia points. Frisco A 4s lost 1 4. Nickel
Plate 4 l2s were down 1al at one time
American & Foreign Power SIS dropped
1Ss points. A notable exception was
the gain of ga points in international
Telephone IS.
Convertible had a like course. Cen
eral Theaters Equipment 6s declined
af..A- e.
lost over points, and losses of about
a point each we're made by Allegheny
SIS, Baltimore e. Ohio convertible AIS
Commercial Investment Trust 5las
Southern Pacific 4i2s, American Tele-
phone 412s and Texas Corporation SIS.
The secondary obligations of the
carriers held we'll. international Great
Northern IS, Missouri-Pacific 4s anc
l2S Frisco 4l2s, Seaboard Airline IS
Southern Railway As, Boston g. Maine
SIS and International Railways of Cen
| trail America SIS were unchanged or g
shade bstter. But Chicago & Eastern
| Illinois SIS dropped IA points. st
| Paul adjustments hit a new low, dowr
u. Erie SIS opened off 212 at a fresf
minimum. but later recovered most o.
the ground.
Industrials were mostly lower. Amer.
ican Natural Gas 6i2s dropped point
So did Chile Copper SIS, Paramoun
Publix 512s, National Dairy Product
5Ks, McKesson g. Robbins 542s, Posta
! Telegraph IS, Skefly Oil 5l2s, Sinclair
rs and Hudson e. Manhattan Income 5s
Here again there were few firm spots
including Hudson Coal 5s. Goodyear SIS
American Sugar Refining 6s, Pan-Amer
| ican Petroleum 6s and Transconti
| mental 615s. On the Curb EXchang
| new lows were made by Cities Service
IS of 1850 and by Associated Gas
Electric SIS of 1868. At one time ther'
was no bid for the latter bond but j
sold later at SO, off points.
Foreign dollar bonds joined the down
| ward trend Argentine and Chilean
Issues were off 2 to 234 points on re
newed reports of political unrest il
| South America. Lautaro Nitrate 6
! dived over points. Bolivian issue
| took a fresh tumble, the Is dropping
over points. Brazil 8s were off poin
| and so were Sac Paulo 6s. The Sat
Paulo Coffee Loan rs. however. gained
a point. japanese, French, Belgian anc
Italian descriptions remained un
! changed or dropped slightly. German
issues held about steady. =