Evening star., 1933-07-17
BOND LIST FIRMS
IN ACTIVE TRADING
Early IrreguIarity Followed by
, New Peaks in High
Grade Issues.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, July 17-Irregular at
the start. bonds firmed today as the
session progressed and turned active on
the upside.
Strength of high-grade industrials
and rails. mixed tendencies in specula-
tive carriers, further bidding up OF
amusement issues, dullness in most
public utility securities and the singing
out of certain foreign bonds for wide
gains were features of the session.
Insurance companies. whose cash re-
sources approximate $3.50, 100000, are
again buving prime grade rails and In
dustrials along with United States Gov
ernments. the latter partly because
under the new bank act demand de-
posts no longer pay interest. The gilt
edged rails have attracted such bidders.
who haze been seeking slzeable block
Of choice descriptions. Only part OF
their desires we been satisfied through
the selling .tivities of banking con-
SENATORS.
Lead in Upswing.
In the industrial list Lorillard To-
bacco 5s American Smelling & Re
fining 5s and Youngstown Sheet &
Tube 5s. series B, were first bid up to
new highs. Bethlehem Steel 5S Of
active and frmer.
Later industrial issues like 1nterna-
tional Agricultural Chemical stamped
SIS of 1912 and the amusements, such
as General Theater 6S and several OF
the Paramount issues. were marked up
to new tops Keith 6s at 527a also
were at their best Level Hudson Coal
SIS shattered their altitude mark. thanks
to the bctterment in anthracite move
ments. Allis Chalmers IS similarly
performed at 921..
Atchison General As and Union Pa
cific IS were the first of the gilt-edged
rails to firm up. American Water
works 6s in the medium grade utilities
were first to attain new high ground.
American Telephone bonds were mod
erately active and steady but the bulk
Of demand for communications again
converged around the speculative issues.
International Telephone SIS OF 1885
we're the first to break their price
record.
Italian and Japanese public utilities
attracted attention as Adriatlc Electric
rs. Meriodinale Electric Is and Toxic
Electric 6s OF 1853 reached new peaks
for the year. Polish is and Switzerland
SIS led the foreign governments to
new high ground.
BuenOS Aires Issue On.
Province of Buenos Aires stamped
6i,s of 1861 sold off more than point
as holders were informed that under
the readjustment plan they would get
s25.52 cash with respect to each s32 so
coupon due August l and per cent
arrears certificate for the balance.
The market excepting foreign Gov
ernments and domestic industrials. re-
ceded fracticnally during the third hour
and in the fourth hour activity slack
ened. Italian Public Utility IS and
Lombard Electric is followed the up-
swing of previous leaders IN this group
Central Steel 8s, Lake Shore 3l2s
Pacific Gas g. Electric SIS, Corn Prod
ucts Refining SIS and Liggett & Myers
rs we're at or around their highest
quotations fer the year. Wheeling
Steel l2s and National Steel 5s turned
active. Anglo Chilean Nitrate rs and
Lautaro Nitrate rs we're marked up
Active buying of st. Paul ADJUST
nonts continued to the end. In the
South American group sharp advance
in the Antiocuia issues attracted at-
tention. ~
(Copyrisht. l933D