Evening star., 1933-11-01
BOND LIST FIRM
AFTER EARLY DROP
u. S. Governments Take Lead
With Many of GiIt-Edged
Issues.
BY JOHN A. CRONE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November 1-After
opening lower today, bonds steadied
and showed signs of f1rming in the early
afternoon. This change in trend was
led by United States Governments,
though it was noticeable that many of
the gilt-edged issues, some of the prime
rails, for example. also stiffened
Dealings as contrasted with the first
half of the preceding session were
slight, in Libertys and TreaSuryS as
well as in other securities. There was
marked falling off in turnover Of for
Ngn loans, which may have been due
to the fact that foreign markets were
closed in observance of All Saints day
Havana cables indicating that ele-
me;lts of the present Cuban regime
favor repudiating some Of the dollar
loans hoated here during the Machado
rule brought out a few offerings Of
Cuban bonds. Frankfort 6las were not
much changed. though the city in
tied the interest due today in ReichS-
marks with the Conversion Bank for
Foreign Debts.
British Issues Gain.
The two British issues bettered, as
London cables detailed the improvement
IN the floating debt which resulted from
the payment of 20 per cent of the new
~ per cent conversion loan there.
Although there was probably less
switching into foreign currency issues
today than in recent sessions, Canadian
governments remained steady. Canadian
financing due in part to the recent
conversion loan there. IS above levels
Of year ago.
The principal moves in gold currency
government securities were in French,
Dutch and Swiss descriptions. Uru-
guayan loans Jagged, though that gov
ernment sent here s18,75 to pay against
the $50 coupon due today on the IS OF
1860 and the IS of 1864
The United States Treasury issue,
known as the Al and 3% S of 1943-
1945. made their initial appearance on
the exchange at 101.4, which compares
with their offering price several weeks
ago of 10l50. The actual subscription
price of this issue was figured at 101 10.
They closed on the -the-counter
market Tuesday at 1913, with interest
to be added
Conversion Total Grows.
There has been presented for con-
version thus tar 634,20o,450 of Fourth
Liberty 41.s, according to the daily
Treasury statement, which officials
point out does not indicate all such
transactions as some exchanges are in
process and others have not been
formally completed.
Canadian National Railway 412s OF
1856 and the IS of July, 1863, were
the first Of the carrier issues to reach
new peaks A rise in General Electric
3L2s and steadiness Of American Sugar
6s and Standard Oil of New Jersey SIS
marked prime industrialS.
Whether buyers of prime investments
are being influenced more by corporate
than by currency developments con-
tinues to be questioned, but the tape
indicates that former weigh more
heavily in their considerations. This
was all the more unusual today. when
section of the street reported that
insurance companies have decided to
buy no more rail securities until they
receive assurance from the Govern
ment that bondholders will not be
jeopardized by the pressing OF Federal
claims.
The late trading was featured by good
support for Government obligations and
for the best corporate issues. On the
other hand, the speculative rails were
reactionary.
(Copyright, 1880