Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-20
j. S. BONDS LOWER
IN QUIET SESSION
Scheduled Award of $70,.
100000 New York City
Issue StirS Interest.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November 20.-Invest-
illent markets today displayed about as
much interest in the scheduled award Of
S70000,0 600 of per cent New York City
bonds as they did in the movements Of
outstanding couponed securities.
The gold bloc" bonds moved irregu-
larly higher, United States Govern
ments were unevenly lower, and cor
porate domestic descriptions, after q
firm opening. developed mixed tend
encies Volume was lighter than in re-
proved to be the most vulnerable spot
In the first few hours.
Foreign exchange fluctuations again
explained the bidding up Of French gov
with warrants, Polish IS and United
Kingdom As moved through their usual
wide arc. Brazilian issues, by contrast
with Argentine loans, were firm.
Start at Slower Pace.
Transactions today started off at a
much slower pace than week ago.
Bond dealings on the exchange during
the last week reached $95,8l5 400, the
largest for any week since July % last.
and about one third of total trading was
In long-term Federal bonds.
The financial district was inter-
ested in a statement by Senator
Thomas of Oklahoma that he had
turned over for investigation by Presi-
dent Roosevelt information brought to
the attention of the committee for the
Nation that group of New York bank
ing houses had loaned United States
Government bonds for short selling pur-
poses at one sixty-fourth of l per cent.
American Water Works IS with a de-
cline Of almost 2 points led the descent
of the utilities. Philadelphia Co. IS,
however, were up about a point.
Montreal Tramway SIS of 1941 and
Pennsylvania Power g. Light AIS of
1881 advanced. Local fractions were
not as active as in recent sessions. but
the speculative issues Of that group
hardened during the first several hours.
Although metal debentures moved I'M
certainly there were more uniform
trends in the rubber and oil debentures.
Youngstown Sheet & Tube SIS of 1878,
series A. opened off a point
Declines in Chicago & Western con-
solidated As Of 1852, Illinois Central
4s4s; New York Central refunding AIS
of 20l3, Pere Marquette SIS of 1856.
series A. and Southern Pacific AIS Of
1881 and APPS of 1869, with warrants,
were typical of movements in that
group.
Chesapeake & Ohio mortgages were
not much changed despite the decrease
in weekly carloadings and the greater
drop in October gross than in carload
tngs last month.
Single Bid Accepted.
New York City today received only
one bid for its $40 GOO 900 of per cent
relief bonds This came from syndi-
cate headed by j. P Morgan & Co. and
was al par. according to the bankers
part OF the four-year financing contract
entered into between them and the city
last Month. The bonds were accord
mgly awarded to the single bidder
J. P. Morgan g. Co. was the COM
mittee agent for a group of banks in
GLIDING Bankers Trust, Chase National
National City Bank, which represent a
city-wide account of clearing house
banks and other institutions.
New York City's financing sale
brought an upturn of fractional pro-
portions in its bonds. The city is the
second biggest borrower in the country,
being exceeded only by the Federal
Government
The market finished irregularly lower
on the day and less active than in re-
cent sessions. Renewed weakness in
Argentine loans, strength in Dutch East
Indies and Czechoslovak issues, and
profit-taking in Dominion of Canada
descriptions featured the final hour in
the foreign division. United States
Governments were virtually at the low
of the day as the gong rang.
Copyright, 1889