Evening star., 1933-12-16
RAIL ISSUES EASE
ON BOND MARKET
U. S. Governments Irregular.
Rest of List Holds to Mar
row Range.
Special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK, December 16.-Frac-
tional recessions in domestic rails, prime
as well as speculative, declines in Ger
I'm loans and irregularity in United
STATES Government obligations featured
soday's moderately active and narrow
bond price movements on the stock
exhange.
The somewhat stronger tone of the
dollar abroad and todays unchanged
+. F. c. gold price of $34.01 fine
ounce, had little effect on Federal issues
in early trading. Reich issues were
phaSis placed on German trade reports
for November.
Rails were subjected to profit-taking,
but even today's decline in them did
not erase all of the net gains registered
earlier in the week. Specific corporate
earning reports were not without mar
ket effect in this group. Missouri Pacific,
for instance, reported a net loss of
S919,l15 in October, against net in
come of $27,l84 in the same month
of 1882.
Other Showings Poor.
More disappointing were the show
ings made by Atchison and Pennsyl-
vania. The former reported an Octo-
ber net of s1,s42, ,327, against 81, 2,12s,-
1874 in October, 1882, as a result of a
,essened movements of agricultural prod
ucts. The latter had an October net
income of 1895, ,667, against $3,667,-
34f in October, 1882. In reading Sep
tember and october earning statements
this year it is we'll to remember that
the carriers were making much larger
expenditures on maintenance than in
the same season year ago. This often
explains the apparent anomaly of a
larger gross and a smaller net.
With few exceptions German prov
1nces and cities followed the down
trend of the government issues. United
Kingdom As were higher as the IS
moved lower. The same diversity of
movements was recorded in the French
group, where cities were virtually un-
changed while the rs were higher and
the 715s lower. Gains and losses
about balanced in the Canadian divi-
sion
Brazilian IS turned active and lower
IN the second hour. Peruvian loans
generally were easier. Argentine des-
time were a shade better. Cuban
issues again yielded readily.
Activity Increases.
The slight rise In activity that began
at the close of the first hour picked
up momentum as the second hour
progressed. This expansion in dealings,
however was not felt by Liberty and
Treasury issues, turnover of which was
at a rate considerably below that of
the preceding session
Louisville Gas & Electric SIS, Ameri-
can Telephone 512s. Western Union IS
of 1851 and similar grades of utilities
we're a shade better American g.
Foreign Power SIS reacted again, as did
.ome of the speculative communication
issues such as International Telephone
convertible 4l5s sand Postal Tele-
Graph SIS.
Southern Railway issues were not
much changed after their improved
october earning report. International
Cement IS. National Steel SIS and
United States Rubber SIS receded.
Denver & Rio Grande income As were
down about 2 points near the end.
Dodge IS gave way. Local fractions,
specially Third Avenue Railway bonds.
roftened. Illinois Central As of 1853
'9eclined point. Chicago g. North
western 44s wiped out all of their
earlier rise The market finished ir-
regularly, with the more active Gov
crnments not much changed on the
day. .-...-.
(Copyright. 1933)