Evening star., 1931-05-04
BONDS ARE STEADY
THROUGHOUT LIST
Strength of Foreign Securi-
ties. Particularly Italian
Group, Predominates.
RY F. H. RICHARDSON.

Special Dispatch TO Tne Star.
NEW YORK, May 4.-BondS were
strong throughout the list today. The
feature was the strength of the foreign
department, notably the Italian group
The estimate that $500, 10000 in for
eign dollar bonds had been repatrlatec
was followed by increased orders from
abroad. one house today reporting SUD-
stantial blocks of italian dollar issues
being ordered from italy. The Italy rs
crossed par again in active buying and
there were gains of a point or more in
italian Public Utility Credit Is. Lom-
bard Electric rs, Fiat Is, Milan 6as
and Rome 61as. The current quota !
tions of italian exchange are favorable
to the purchases of these bonds in New
York for Italian account.
This movement extended in smaller
volume to other parts OF the foreign
list. There was unusually heavy buying
of Great Britain 51aS and Irish Ss,
both of which gained fractionally'
French Is gained small amount. Bel
gian bonds were quoted around their
best prices of the year. Austrian rs,
Hungary TVS, German issues, Japanese
51as, Norway SIS, Saxon rs, Toxic Elec-
trio IS all were in demand and generally
higher. Even the South American group
showed signs of life, with gains of a
point and more in Uruguay. IS, Brazil
8s, Brazil 6l5s, Argentine 6s OF May,
1861, and fractional advances in Chilean.
Colombian, Bolivian and Peruvian de-
scriptions.
Foreign bonds accounted for most OF
the trading, but what activity there
was in domestic issues revealed firm
tone. The dull condition of the Stock
Market naturally turned some interests
toward bonds and there were signs OF
speculative buying in some of the wide
ly depressed issues. Warner Brothers
Pictures gained nearly 2 points. Postal
Telegraph SIS ran up a poin5. General
Theaters Equipment IS had a substan-
tial recovery. Goodrich IS, Interborougll
Refunding IS, MisSouri-Pacific SIS,
Nickel Plate 415s, Pan-American Pc
troleum 6s Of 1910, Phillips Petroleum
5Hs, Frisco AIS, Shell Union Oil 5s,
Southern Railway General IS and many
other bonds currently selling at levels
ranging from 40 to 80 cents on the
dollar were in demand.
The prime group was quiet with a
firm trend. American Telephone 5 S
opened down, but later advanced. There
was good buying of Brooklyn -Manhat-
tan Transit IS, Chesapeake Corpora
ton SIS, Atchison General As. Columbia
Gas & Electric IS, Great Northern Is,
NauOnal Dairy HTouuCCS oI4S, new
York Central AIS, Pennsylvania AS,
Utah Power & Light 412s and Youngs-
town Sheet & Tube SIS.
The buying of foreigns naturally
helped along the issues Of companies
with foreign connections. Interna-
tional Telephone IS and AIS, Inter-
national Match IS, both the debentures
and convertibles, and International
Hydro Electric 6s gained. Firmness
characterized International Paper SIS
and 6S and International Cement SIS.
Abitibi Pulp & Paper SIS rose shade.
Duke Price Power IS were Arm. Royal
Dutch As improved.
The New Capital Market was still
convalescing from its recent indiges-
ton, and there were only a few unim-
portant municipals offered today.
Prices have been marked up to un-
precedented levels in municipal bonds.
A glance at dealers lists today shows
that current yields are from 1.30 to
$50 per cent on short term municipals
and from 2.75 to 4 per cent on longer
dated bonds.
Copyright, 1917