Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-26
BONDS ARE HIGHER
IN ACTIVE TRADING
New High Marks Registered
in Prime ISSues-For-
eign List Weak.
BY F. III. RICHARDSON.
1 nisnatrh In The star


NEW YORK, August 26.-In the
heaviest trading of any session this
month, bonds worked higher today. In
the prime group new high prices for
the year were common, and the invest
ment demand broadened to include
many second grade high yield issues,
particularly in railroad securities.
Money rates were unchanged and
there were no new offerings, so that the
market had nothing to interfere with its
course, except possibly the imminence
of number of new issues. Those in
course of preparation and soon to be
offered total about $4,000, 900, includ-
ing SIS, 100000 Alabama Power AIS to
be priced at SO, $4,000, 900 Iowa Co.
first SIS at 961a, $17,000,000 State Line
Generating Co. flrsts AIS, $1,000 900
Western Pacific first SIS.
Find Ready Market.
They are all of a class of bond which
is finding a ready market at the present
time. But bankers seem loath to in
terrupt the steady course of the invest
ment market and some of these issues
may be delayed week or more. There
are also reports that the Nickel Plate
will market $26, 100000 of AIS, but
these have not been confirmed.
Foreign bonds. however, were weak
today. This was chiefly due to the
heavy influence of Peruvian bonds.
which had renewed Slumps on the
news that President Leguia had been
arrested and will probably have to
stand trial, with the possibility that
such drastic measures on the part Of
the military junta now controlling the
government may postpone the restora-
ton OF peace and economic order. The
Ge NJ M
below their recent levels and at new
lows. The Is of 1889 were of about
8 points and also at a new low record
for the year.
Other South Americans were affected
by the news. Sac Paulo state IS were
of 2l9 points to a new low and there
were fractional declines in Argentine
IS, Bolivian IS, Brazil 61as and Buenos
Aires province 6s.
ConvertibIes Irregular.
On the other hand, French, German,
italian and Belgian issues were higher.
Japanese bonds were of shade, chiefly
because of developments in the Japa-
nese money market.
In the high-grade domestic section
new peaks were reached by Atchison
general Is, Canadian Pacific As, South
ern Pacific 4las, Inland Steel AIS, and
higher range ruled in Baltimore &
Ohio first As, New York Central As
Frisco "a" As, Northern Pacific As
Standard Oil of New York 41as, Phila-
delphia Co. IS, Columbia Gas SIS and
American g. Foreign Power SIS.
ConvertibleS had an irregular trend
with stocks. There were small gains in
Southern Pacific AIS, International
Cement IS, Loews SIS and Warner Broth
erS Pictures IS. New Haven IS, Texas
Corporation SIS and General Theater
Equipment IS were lower.
Demand for junior railroad bonds
was much sitter than in any recent
session and it applied to the entire
list with the single exception of Denver
& Rio Grande Western SIS, which were
off q small fraction. The same thing
applied to industrials like Fisk IS,
Anglo-Chilean Nitrate rs and Armour
OF Delaware SIS. The New York trac-
ton bonds were all active, influenced by
the renewed fight to get stockholders to
pool their resources in an attempt to
secure the marlborough directorate's
cooperation in unifying the subway
systems with the city.