Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-02

Demand Puts Many Issues in
Higher Range-IntereSt
Payments Help.
BY r. H. RICHARDSON.
Special Dispatch to The star.

NEW YORK, November BONDS
moved higher in active trading today
The chief factor in the investment mar
ket, apart from the generally more opti-
miStic attitude displayed in all markets
today. was a strong reinvestment de-
mand.
Maturities, bond calls and dividend
and interest payments today amounted
to we'll over 81 $50 10000, and dealers
are inclined to believe that almost all OF
that amount will find its way into the
bond market. The strength of United
States Government bonds. which ad-
vanced Il to Il point at the start and
were turned over In large amounts near
the days best prices, was evidence of
the trend in the demand.
The sharp break in sterling. ascribed
to the movement to import wheat and
other articles against which tariff
may be erected by the new British
unsettlement in British securities. With
the pound at 3.7512. of 7l2 points
British government 5l2S were still SELL
ing around 98, or near their best price
on the recovery Canadian dollars were
firm and Canadian securities were in
demand and higher with the general
list. Canada 4l2s, Canada As, Canadian
Pacific As and Canadian National Rail-
ways bonds all improved.
German dollar bonds moved UP to
new highs on the recovery. Young plan
5I2s crossed 40 and Dawes reparations
Is at "a showed a recovery Of points
from their low. German Central Bank
bonds. municipals like Cologne 6 I2s and
Berlin IS and industrials such as Ger
man General Electric IS and Is and
United Steel Works 612s were flrn.
French. Belgian. Italian and Dutch de-
scriptions were Up fractionally. Rotter-
dam IS recovered part OF their recent
decline. Austrians were OF at the open
ing, but later firmed. scandinavian Is
sues we're higher.
In the South American list Argos
tine IS moved narrowly higher. Ordi-
narily the strength displayed in wheat
prices would have had a strong ref1ec-
ton in Argentine bonds, but the imni-
nence of the elections in that country
has unsettled the market. Brazil issues
were unchanged.
Domestic bonds were generally firm.
Strength in stocks buoyed up the junior
list and higher grade bonds benefited
from the reinvestment demand. Atchi-
son general As, Norfolk g. Western As
american IelEpllOnC %,
Gas AIS, New York Telephone AIS,
New England Telephone first SIS and
many other hjgh-grade bonds are SELL
ing at prices yielding 4l2 to over 5
per cent.
Higher-yield bonds of an investment
character rose to points. including
Northern Pacific SIS, Baltimore & Ohio
4Ias, International Telephone SIS. Texas
Corporation SIS, Sinclair Oil rs, Va
nadium IS. National Steel IS, Lorillard
5las, Dodge Bros 6s, American 81 For
eign Power SIS and Armour of Delaware
5laS.
Bonds we're firm at the opening.
Domestic issues of a junior character
were inclined to follow the opening up
turn in stocks, and, as a consequence
there we're fractional gains in second
grade rails like Chicago Great Western
As. Chicago 81 Northwestern 434s and
Southern Pacific 4 Us, and in indus
trials. such as Dodge Bros. IS, Interna-
tional Match SIS and Brooklyn Manhat-
tan Transit IS. But it was oil COM
pany bonds in which the heaviest trad
ing took place. Texas Corporations S.
Sinclair rs and Standard Oil of New
Jersey IS were all higher.
Foreign dollar issues advanced, with
the exception of the Brazilian group
japanese 61ss gained point. Milan
SIPS, Lyons IS, French 71as, Belgian
612s and British and German govern
rnertS were firm