Evening star., 1933-08-29
i. S. BONDS RALLY
IN ACTIVE TRADING
Speculative Rails Are Firm.
Foreign. Governments
Also Advance.
Special Dispatch to The Star.

Special Dispatch to The star.
NEW YORK, August 20 (CP.A).-
A brisk rally in foreign and United
States Government loans and firmer
tendencies in speculative rails featured
bond trading on the Stock Exchange
today.
The rise in foreign governments fol-
lowed the weakness Ct the dollar in
terms of overseas cHrrencies. United
Kingdom 5i2s at 1908 opened up 2
points. The 4s were up p point at par.
French TBS opened up l1s at 14ols
and the Is were up "a at 143.
While these moves were In progress
the three French cities, Bordeaux IS.
Lyons IS and Marseilles IS, recovered
a point CT more, though Belgian IS
yielded a point to So. Dutch East
Indies IS of 1862 rose more than a
point to a new high for the year.
italian issues remained steady, though
German securities were somcT what soft,
following similar trend in London.
Reach New High Price.
Weakness of the dollar aad no effect
on the United States Government group
during the first several hours as insti-
tutions bid for these securities. AS
trouble in recording a new high price.
Treasury 4As, however, were most
active on the Exchange. but the 3As
we're most sought in over-the- counter
dealings.
Sharp rallies and real activity in the
carriers, however did not get under
way until noon or shortly after the
enlivened demand for rail shares. On
this bulge Misscuri-Kansas-Te SIS,
Baltimore & Ohio convertible 4l2s, the
various Missouri Pacific issues and the
Pennsylvania and New Haven groups
frequently appeared on the tape.
Domestic industrials, overshadowed
In point of volume by the rails, were
not without their wide advances
American Writing Paper IS opened up
4la-point gain. In public utilities Cali
fornia Gas & Electric SIS were down
more than 2 points and Kings County
Electric IS up about 4 points.
American &, Foreign Power IS On a
few trades rose about a point. Stude-
baker IS lost part of their run-up of
the previous session. Dodge IS were
trifie easier. These moves followed
heaviness in motor shares. Atlantic
Refining SIS we're up fractionally, but
oils generally were dull.
Sell OF in Third Hour.
Following the sen-off of rail shares
in the third hour, speculative rails
averaged p point decline, causing gen.
eral bond averages to recede. Mean
while industrials and utilities were vir-
tually unchanged and gilt-edged rails
lower
A break of 3l2 points in Austrian rs,
the League of Nations loan, softness in
Finnish issues, and the weakness of
German loans, especially the heavy in
dustrials like Good Hope Steel & Iron
Works, were outstanding midafternoon
incidents in the foreign division
Norfolk & Western consolidated Is,
Atchison general As, Union Pacific first
IS, and few of the other high-grade
carriers turned downward in the final
hour. Postal Telegraph SIS Cancelled
most Of their earlier gains. California
Packing IS shaded their best forenoon
level. In the better type of public utili-
ties New Jersey. Power & Light AIS
yielded a point. United States Gov
ernments retained virtually all of the
forward moves made earlier, as the
market closed dull and somewhat ir-
regularly.
(Copyrisht 1e33D