Evening star., 1933-08-21
DOMESTIC BONDS
UNEVENLY HIGHER
Market Loses Part of Early
Gains in Afternoon;
IndustriaIs Ease.
Special Dispatch to The Star.

6peclal DlSpatcn 10 Inc Star.
NEW YORK, August 2l.-Domestic
and foreign loans presented sharp con-
trasts in today's forenoon bond dealings,
as the former moved irregularly and
the latter almost uniformly downward.
Junior rails made the best showing in
home issues British and Argentine
securities displayed the greatest strength
In overseas securities. Gilt-edged rails
and industrials registered the narrow
est fluctuations in domestic descrip. ilns
and likewise were dullest. Reich loans
proved the softest spot in the foreign
division
The unseasonal gain Of 9,647 cars il
last weeks carloadings. when the
average showing for the second week
In August is a decline of 1900 cars,
brought about the bidding for specula-
tive rails. The traffic peak to date this
year was 648,9l4 cars in the week of
July % Traffic experts believe weekly
loadings will reach peak Of 100000
before the year end. \
German Issues Heavy.
Announcement that interest and
sinking fund payments amounting to
Sl36,000.000 on various German dol,er
issues outstanding here would cease
on September l was the occasion for
the pronounced heaviness in Reich
couponed securities, from governments,
states and cities through utilities, banks
and industrialS.
Argentine cables today gave no clue
to the rise of point or SO in the gov
eminent issues in this market. On the
contrary, the cable tcld OF untavorable
growing weather to the principal crops,
wheat and fax seed, and of declining
quotations for the former.
Domestic public utilities, contrasted
with recent sessions, displayed a firmer
tone. This was due in part to the way
the industry hailed the Connecticut
Power g. Light Co.'S idea of passing
along the increased costs under the
N. r. A. to the consumer. At the same
time the New York State Public Serv-
fee Commission ordered a 6 per cent
rate cut in this city effective September
l. Other utility commissions indicated
they intended to go ahoad with their
rate reduction programs.
Some Of Firmness Lost.
The market, excepting high-grade
rails. lost some Of its firmness by mid
afternoon, with the industrial. public
utility and second-grade rail averages,
in order mentioned, suffering the widest
losses.
Lake Shore 3Has remained unchanged
even as other high-grade rails turned
active or higher. New York & Harlem
3l2s reached a peak of 88. In specula-
tive industrials gains of points or more
were registered by Container Corpora
tion IS with warrants. Kelly Tire IS
and Murray Body 612s.
New England Telephone SIS aeound
10834 were up y point. Prospective op-
position to the present Cuban regime
brought in few offerings of that gov
ernment's bonds. Cuba sugar pro-
ducers were steady, with one notable
exception, Manatai Sugar 712s COM
pany now In receivership, which broke
II points to new low oils
British issues lost part of their earlier
appreciation. international Paper IS
opened up y point at ~. Standard Oil
of New Jersey IS eased around 1045s.
American Smelling & Refining SIS firmed
almost a point. United States Govern
ments finished actively but irregularly
w7Cosyright, 1933)