Evening star., 1933-11-13
US. BONDS STRONG;
FORE|GNS UNEVEN
Domestic Corporate Issues
Are Firmer Than in Re-
cent Sessions.
specIaI plspatch 70 The star.

CpeCidi DtSpdtSl " 1nt StdEs
NEW YORK, November 13-Tht
uniform strength of United States Gov.
eminent obligations and the unevennes,
of foreign government leans provided
contrasting features in bond dealings or
the Stock Exchange today. The ton'
of domestic corporate bonds was flrmel
than in recent sessions.
Recovery in Federal bonds was suff.
ciently large in the first two hours tc
erase most of the declines of last Fri
day and Saturday, though not enough
to make up the losses that started No
yember T. This rally naturally was
aided by early strength In the dollar II
Paris, which explained the heaviness ir
some French issues.
The three French cities along with
the governments reacted. Reich issues
were not much changed by the German
elections on Sunday, owing to the
meaningless" character Of the ballot
ing. Sharp drops in Argentine bonds
conceded with gains in that country's
internal issues at Buenos Aires. The
latter development reflected the posi-
biiity of a near conversion plan which
WOulQ Involve "A issues.
Finnish Loans Jump.
The widest gains in European gov
ernments took place in the Finnish
division. United Kingdom and Polish
securities moved only fractionally,
which was true also Of Belgian issues.
Dutch East Indies bonds hardened.
Cuban loans softened Greek bonds
moved widely. Canadian governments
were not nearly so active and gains
and losses about balanced. Canadian
National Railways, which are guaran-
teed by the Dominion government. were
uniformly firm and moderately active.
Strength In gilt-edged rails, indus
trials and utilities was one of the most
interesting developments of the first
hour in domestic corporate bonds. Union
Pacific As of 1868 opened at S5as, up
5Is points.
Atchison general; 4s initially were un-
changed. American Telephone IS OF
1865 were trifle higher. as were STAN
dard Oil of New Jersey IS, Armour 4 4las,
and Duquesne Lighting AIS of 1867
series A. At this stage there were bids
for few sizeable blocks of the better
grade corporate debentures and mort
cages.
SPECULATIVE AcouCS db OAAA'
period, however, moved unevenly. This
was true of International Hydro Electric
SIS OF 1914, International Telephone con-
vertihle AIS, and Laclede Gas 512s.
New York fractions Up.
United States Rubber SIS opened up a
point on reports of better business In
the trade. Oil debentures. such as Sim
clair Is, improved. American a. For
eign Power IS, American Rolling Mil
convertible SIS and American Metal Us
then turned active and upward. Amer
ican Chemical 5 rs and Philadelphia &
Reading Coal & Iron convertible IS
reacted.
Warner Brothers convertible IS paid
little attention marketwise to the report
for the fiscal year, which showed net
less Of s6,29l, TAB, after taxes amortiza-
tion, depreciation. interest, etc, but ex-
elusive of profit of 81 ,286,o71 from re-
tirement of debentureS and subsidiaries
funded indebtedness, which was cred
tied to surplus account. Other amuse-
ulents also Jagged
Local fractions enjoyed brief furry
In the early afternoon. Great Northern
rs opened I'D a shade as II reported
September net income of 1914. .449,
against S1I9.fO4 IN tne same ISSN
month Nine months net loss of IS .332,-
$50 compares with sl2.336. 1922 in the
same period a year ago, The road re-
Gently repaid an advance from the
r. F. C. of s6,0o0.000.
Government bonds held their gains
well up to the end. unaffected by the
steady drop in the dollar Foreign
issues were strong and domestic de-
scriptions heavy, particularly the spec
ulative.