Evening star., 1933-09-26
BONDS IRREGULAR
AS ACTIVITY GAINS
New York fractions Advance
After Rumors of Boost
in Fares.
BY JOHN A. CRONE.

Special Dispatch TO Inc star
NEW YORK. September 26.-Open-
ing dull and irregularly, bonds today
turned slightly more active, without.
however, attaining much uniformity in
price trends Local fractions featured
the upside in the forenoon.
Soft at the start. German bonds
stiffened as dealings progressed, though
foreign loans generally were not as
active as in the same period in the
preceding session.
The squirt in local fractions, which
lifted issues from l to 3 points and
more, resulted from rumors of an in
crease in fares. The higher fares,
however, would be utilized to replace
tax sources which failed to materialize.
Spectators bid for a variegated assort-
ment of transport issues, trolleys, ele-
vators and subways.
Other fractions Aided.
New York Railway 6 per cent in
comes, which never have paid coupon,
moved up from 712 to 9s4. Inter-
borough Rapid Transit IS rose from
% to 25 on this move. Third Avenue
Railway Adjustments opened up point
at 27l2 and issues long inactive ap-
peared on the tape today.
Market Street Railway Is were up a
point and few other out-of-town troll
leys advanced in sympathy with the
speculation in local transport issues.
New York 8, Richmond Gas IS of 1851
orened at 100b, off la4 points, as a
result of the explanation given OF the
company's financial position in connec-
ton with the omission OF the preferred
dividend. Like other gas companies
throughout the country. this local con-
Germ had been hit by reduced rates and
increased taxes.
Other local gas companies were not
affected by this selling, though bonds OF
out town firms with the same press
ing problems turned dull and slightly
lower on q few offerings. North Amer
ican Edison IS and Utilities Power d
Light 512s eased.
High-grade rails were somewhat cas-
Ter in the first several hours, as exem-
plified by the quotations of Louisville &
Nashville unified As, Pennsylvania SIS,
Union Pacific first Is and Pittsburgh,
Cincinnati, Chicago g. st. Louis general
IS Of 1870. These recessions, however
did not bring about increased offerings
Decline Features Close.
Chicago g. Northwestern issues re-
sponded to reports that the road Is
likely to declare operative its plan for
the payment of s7.724,000 of Fremont,
Elkhorn 81 Missouri Valley bonds. This
was indicated by Interstate Commerce
Commission action, which modified con-
dition attached to the approval Of the
So 862, 900 r. F.. c. loan to pay hall
the issue in cash at maturity.
st. Paul Adjustments around mid
day we're up q small fraction. Missouri
Kansas-Texas Adjustments then were
off y point international Great
Northern Adjustments were up that
amount. st. Paul Gold" SIS rose al
most a point Erie IS Of 1867 were
down more than point. One Winston
& Salem First 4 was offered at 8612,
unchanged from its close Monday.
Berlin cables telling Of reactionary
tone in the bond mart there erased
some of the forenoon gains in Reich
issues here Previously, however, some
of the municipalities, such as Dresden,
some OF the ind,istrials like nseder IS,
and utilities like Westphalia Electric
Power 6s of 1858 had advanced.
The market sold of in the last hour
in sympathy with the reaction In stocks:
Speculative rails lost fractions. to full
point. but the turnover was small. In
the foreign list the Brazilian issues were
under moderate pressure. Domestic In
yestment issues were a shade easier.
(Copyrieht. 1881