Show OPENS DULL By ALEXANDER HENDERSON Associated Press Financial Writer NEW YORK March 23 P With P With t the he exception of issues of the United S States tates government which advanced the bond market was generally lower Monday Trading was dull Railroad and stock privilege Issues w were ere the most active Of the former C Chicago Northwestern 4 3 opened o Jower and continued to re re- re c cede ede At one time this Issue was more tha than 1 point lower which was o one ne of the outstanding declines of the he t whole list Baltimore Ohio 4 l 1 of 1960 1060 New York Chicago S St St. t. t l 1 of 1978 and Southern South South- c ern m Railway of 1956 were active and a lower The downward movement movement move move- ment was not universal however N Northern Pacific arid and Pennsylvania Pennsylva n nia Sa series D 4 l 1 were higher on a l large arge turnover The Thc variety of the Issues in the r rail ail and other groups made it clear t that hat soiling selling orders predominated al although al- al t though hough the majority of declines were moderate Bonds with conversion or stock p purchase options reflected the heaviness ness less in stocks Many of this group were v ere lower too tho Missouri Pacific 5 l 1 Loew's Loews Cs with warrants anc and American Telephone 4 l 1 of 1939 s scored cored some of the larger declines Philadelphia fc Reading Coal Iron Irons O s continued to gain Texas corporation corpora corpora- t ion tion cite of the most active Issues was f firm bin Sales of a long list of foreign ob obligations ob- ob l were recorded but many o of f the individual issues experienced o only a small turnover Brazilian 6 61 of 57 1926 made a good gain gainin i in n steady trading German 5 l 1 were active and steady Steadiness marked the more ac active ac- ac t tive ive Industrial bonds but weakness appeared in some of the less popular l lar ar Issues such as Shell Union Ol Oil 5 s. s International Match anc and Youngstown Sheet and Tube were active and unchanged |