Evening star., 1933-09-28
i. S. BONDS ACTIVE,
AT LOWER LEVELS
Hiqh- h-Grade List Advances as
Trading Increases at
Close.
BY JOHN A. CRONE.
epecial Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September 2S.-The
activity of United States Governments
strength of leading foreign loans, de-
mand for New York City long-term
Issues. and irregularity of domestic
corporate descriptions featured bond
trading today.
Treasurys retained their early gains
better than Libertys during the nrst
two hours. The upswing In forelgns'
slow in starting, got under way under
the leadership of French securities
French Is early duplicated their Prev
Gus peak Then the various French
cities averaged a gain OF more than
point
Reich government issues appeared
less frequently on the tape than Ger
man industrials. IKE United Steel
Works 6l2s, and utilities, such as West
phalia Electric Power IS. Brazilian
6las of 1925 made the best showing IN
the South American list at this time.
Junior Rails React.
New York City 4l.s of 1861 were up
points at 82l2-84, while other active
issues rose from IL to 3 points. These
municipals were bid up in anticipation
of the board of estimate meeting. which
was expected to approve of plan 1or
revamping the city's financial structure
Junior rails started out rather prom,
isingly, but turned reactionary around
midday. St Paul adjustments, which
I'D to that time were up y point,
dropped back to their previous final
level. Missouri Pacific 5las yielded al
most a point. Denver & Rio Grande
Western As were down about l y points
In the public utility list, securities
just below the gilt-edged division were
offered rather freely until early after
noon. The 2-point decline OF Philadel-
phia Co. secured SIS and their subse-
quent partial recovery exemplihed this
trend.
Advance at Close.
Local fractions turned irregular. The
more speculative of this group, like New
York Railway income IS and Third
Avenue Railway adjustments, aimlessly
moved back and forth within 12-point
range. In the better grade fractions,
BROOKLYN Manhattan Transit IS flrmed
Interborough Rapid Transit Is reacted
New York Steam IS around 103l2, up
2l2 points. were the strongest spot In
the operating utilities. Kings County
Electric Power IS of 1897 proved the
softest spot as they declined points.
Australian loans, commonwealth, city
and state, were a feature OF mid
afternoon foreign dealings. German
and French issues continued in demand,
though Danish and Dutch descriptions
declined. Belgian bonds bettered. In
the domestic division Baltimore & Ohio
Liens, st. Paul Adjustments, Dodge
Brothers IS and Northern Pacific Re-
funding IS rallied, while Southern Rail-
way General 6las and Standard Oil OF
New Jersey SIS receded.
Activity increased in the final hour,
with gilt-edged telephone issues, such
as Bell Telephone refunding IS, New
England Telephone SIS and American
Telephone 5las, leading the upswing in
the investment group. Little Miami As,
subsidiary of the Pennsylvania, were
offered down several points before SELL
ing at 8112 United States Govern
ments were unable to make up the set
back encountered early in the after
noon and closed lower. Switzerland
5I2s recovered part Of their earlier loss.
(Copyright 1933.)