Evening star., 1933-08-16
-G|LT-EDGED BONDS
STRONG AND ACTIVE
DuIIness and 'lrregu|arity
Mark Foreign Group.
U.S Issues Firm.
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, August 16.-Strength
and activity of gilt-edged domestic
issues, especially United States Gov
ernment obligations, and irregularity
and dullness of foreign loans, featured
forenoon bond dealings today.
The new Treasury 34s OF l94l
quickly sought a new high level today
as investors and institutions bid for
them. The record peace-time cash In
the Treasury, further details about al
lotments which stated all small sub
scriptions were accepted, and the re-
ception accorded the short-term notes
Tuesday all contributed to the f1rmness
Of United States Governments
Early strength in the dollar, ana
conversely weakness in most foreign
currencies, had an unsettling erect on
the foreign loan division. With the
exception of the South American group
virtually all foreign issues receded.
United Kingdom 5l2s around ll6 were
off slightly more than half point.
German Is opened at 7l34, down Ia.
but subsequently regained most OF their
initial loss. Other Reich issues, now
ever moved irregularly.
Speculative Rails Off.
New York Gas & Electric Power IS
of lo48 opened up point at 1lOf2.
philadelphia Co. IS of 1867 were up
s. at S53s. Consolidated Gas Of New
York SIS we're up fractionally at 1889.
The American Telephone group gener-
ally ranged steady to higher on mod
crate transactions.
Detroit Edison issues, such as the
5s of l949. turned heavy as the Michi-
gan Utilities Commission ordered the
company to submit rates by August rs,
which would be effective September l,
lowering the present rate scale by ST.
500. 900 annually.
Speculative rails, with Few eX-
eeptions. such as Minneapolis IL st.
Louis S per cent certificates OF 1884,
moved lower during the first two hours.
st. Paul Adjustments. at 24i2, ap-
peared initially unchanged, but by mid
day came out at 23ss. At this time
reacted. The As, at 1875, were on
nearly a point. This was true of the
5lbs. around 1875 International Great
Northern Adjustments, around Is, were
of a half point. Seaboard Air Line
Adjustments opened at Ga.
Communications Lose.
Utilities Power & Light 5'as at 3512
were a shade easier. international
TeleDhOne cOQVeTuDle 4f2S dJ Oo "SAS
off IL points Postal Telegraph IS at
So were off "a Of point. American &
Foreign Power SIS and most other specu-
lative utilities likewise softened during
this period.
In the high-grade industrials Loril-
lard Is at l19 were up half point.
American Sugar Refining 6s frmed at
1861. Standard Oil of New Jersey 5s,
after opening lower, steadied. In gen.
eral the oil issues investment as we'll
as speculative. inclined to steadiness
despite the gain in weekly crude Oil
OUTPUT. which was offset by the large
decline in gasoline inventories.
The recovery of Argentine loans was
the feature of early afternoon dealings
in the foreign list. Austrian rs OF
1943, the loan guaranteed by the
League of Nations, equaled their high
of 987s.
Speculative bonds rallied toward the
close in sympathy with the recovery
of stocks All the early losses, how
ever, were not regained
(Copyright 1889