Evening star., 1933-12-11
JUNIOR RA|[SLEAD
| ADVANCE IN BONDS
All Sections of Corporation
! List Share in Active
Demand.
Special Dispatch to The Star.

Special Dispatch to The star.
NEW YORK, December 11.-Brisk
bidding up of speculative rails was the
feature of bond trading on the Stock
Exchange today Virtually all sections
of the domestic corporation list shared
in the active demand that marked FORE
noon dealings. Nearly every active issue
moved higher.
United States Government bonds were
inclined to ease fractionally, while Sc
lective activity in foreign bonds, espe-
cially IN European gold bloc issues and
Argentine descriptions, carried that d.
vision higher.
The public work program is creating
traffic for the carriers, which also are
being helped out by quickened move
ment of holiday freight and passenger
travel. Many of the rails, from tech
nical market point Of view, have been
unduly depressed for the past month
or SO if viewed in the light of improve
ment in their position compared with
a year ago.
Federal bonds were only moderately
active today, as the r. F. c. kept the
gold price at S34.01 an ounce Tor the
ninth consecutive session with the quar-
terly financing virtually out of the way,
the Treasury is considering a new ex-
change offer to holders of Fourth Lib
erty 4l4s, according to specialists in
Government securities.
European loans took their initial cue
from trends in London, where German
issues were reactionary and French Sc
curities strong Berlin cables reported
that the Reich government predicts
Germany's export surpluses are likely to
decline. This news comes just after
the adjournment of the creditors par
ley. Later this month Germany is ex-
pected to tell her creditors she is unable
to better present transfer payments.
French bonds benefited from the
Chamber of Deputies favorable vote on
the Chautemps budget and the general
feeling in Paris that the downward
trend OF the franc had been reversed
Italian issues eaSed as the 1934-1935
BUDGET deficit was reported, though Italy
at present has the lowest central bank
rate in its history and money there is
easy and plentiful
All of the bond averages in the aft
ernoon recorded net gain for the day.
The Second-grade rail averages were
up more than twice as much as the
prime rails, nearly four times as much
as utilities and ii times the gain in
industrials.
United States Governments reversed
their earlier downward trend and re-
traced virtually all the lost ground.
There was also a better tone to the
municipal market
Some of the wider movers in specu-
latlve rails in the late afternoon in
cluded Central of Georgia consolidated
5s of l945, Florida East Coast refund
Ing 5s and their certificates, Interna-
tional Great Northern SIS of 1856. series
9; M1Ssouri-Kansas-T Texas adjustments.
Peoria & Eastern income As. Seaboard
Air Line adjustments and Wisconsin
Central general As.
Meanwhile American Rolling Mill
convertible SIS, Otis Steel first IS and
other lndustrials widely separated in
price brackets moved fordward. French
cities and rails moved upward in the last
hour. American >S5 Foreign Power SIS
spurted. New York Central 3l5s proved
q strong spot in the better grade rails.
United States Governments flrmed up
at the close. which was active and at
virtually the best levels Of the day for
most issues
(Copyrisht, 1933D