Evening star., 1933-11-25
j. S. BONDS STRONG.
AS WEEK CLOSES.
Advances in Foreign Trade
and Wholesale Commodity
Prices Stressed.
BY JOHN A. CRONE.
Special Disratch to The Star


: NEW YORK, November Strength
i IN United States Government bonds
g sIc.1 ccntrasted with the irregularity
f. c. foreign government loans in today's
mccc-ctely active bond market.
-.,i.,lar the attacks on the present
monetary policies of the Government
re-, indications that the Government
ocr.cmplated no immediate change in
its policies proved market factors
Rather it was the strength of the COL
lar, in terms of foreign currencies, the
gain in wholesale commodity prices,
, measured Oh weekly and monthly
, rather than daily swings, and the bet
terment in foreign trade that stiffened
Government bond quotations.
Attempts to form a new cabinet to
replace that of the fallen Sauraut
ministry provided no stimulus to
French government bonds. though city
issues of that country hardened.
British issues pointed upwards, but
Reich descriptions were not as strong
and active as in Fridays dealings.
Reich Issues Firm.
Announcement that the fiscal agents
for Hamburg American Line first 6l2s
were continuing their efforts to OBTAIN
payments for the holders Of December
maturities and interest caused fairly
firm bids of the previous markets to
hold. Argentine issues moved narrow
ly but Cuban loans again receded.
Rubber debentures moved unevenly,
while the trade awaited the outcome
of the Dutch growers conference on
restricting world production United
States Rubber SIS opened up a point
and Goodrich IS were up fractionally,
but Goodyear IS eased in the first few
trades.
The upturn in a wide list of railroad
couponed securities reflected the better
. than expected rise in weekly car load
ing figures, which make favorable COM
parison with those of a year ago in
view of the sharp declines then being
recorded.
Railroad earning statements for Oc-
tober, for the most part, are pleasant
reading This was strikingly illustrated
today by the uniform advance Of Penn
showed net of S5,731 CTS for last month
against S5,630,549 IN the same period
OF 1882.
In contrast with this improvement
in the rails there was a noticeable de-
gree of uncertainty in the public utility
division. which was affected by The
fact that bond dealers were awaiting the
- outcome today of the Knoxville, Tenn
balloting of the proposal to issue bonds
for the construction of municipal
Light and power plant
At. & T. Leans Rise.
Prime mortgages of operating COM
panies not within the Muscle Shoals
area, or in territories where municipal
power projects have been disapproved,
we're strong. Examples of this trend
included the two most active Duquesne
Lighting mortgages and Pacific Gas &
Electric IS of 1912.
=, Lake Shore & Michigan Southern 312s
opened higher Union Pacific As and
Burlington General As, Illinois division;
were slightly easier. Atchison general
Is frightened New York Central 3l2s
rallied. The first mortgages of the
Pennsylvania then moved forward;
American Telephone obligations bet
tered, as did those of New England
, Telephone & Telegraph, though specu-
lative communication issues, such as
International Telephone SIS, moved ir-
regularly Utilities Power g. Light IS
Of 1859, with warrants. reacted.
), Baltimore & Ohio bonds, after their
marked gains of Friday, were trihe
heavy today. Canadian rail issues,
both systems were helped by traffic
statements st. Paul adjustments were
7 lower most of the time. A rapid rally
of American Water Works securities
was a late feature in the public utility
: list.
The market at the start of the last
half hour gave promise of increased
activity but this movement lasted only
few minutes. The generally firm
tone, however, was maintained right
up to the close. with United States
Governments virtually at their best
levels of the session.
(Copyright, 1933)