Show BONDS IRREGULAR fORE GNS ACTIVE Australians Lead Downward Procession Rails Off Fractionally By ALEXANDER HENDERSON EnSON Associated Pre Press Financial Writer NEW YORK YORI March 26 Trad TV in Ing in bonds resulted In irregular price changes Thursday Foreign and railroad obligations obligation were two of or the most active groups group and both of them reflected a a. moderate moderate moderate ate amount of ot selling pressure Australian Aus Aus- traHan obligations continued to lead leac the downward procession The 55 o of 1957 were more than 2 points lower lowe at one time although the volume volum was not particularly heavy German Germany 5 1 l continued to be one of the mos most active of or the group and receded f frac- frac rac Italian is were active and steady Peruvian made further de de- de dines cUnes following news of the revolt The recession In irs railroad was mainly fractional and no noall not all Inclusive Some slackening of this movement seems scents possible as the unfavorable unfavorable unfavorable un un- un- un favorable nature of February earnIngs earnings earn earn- Ings lags reports had been expected ant antas and andas andas as the rail rall bonds have discounted discounts this factor to some extent The volume vol volume vol- vol ume In most of this group was mod mod- crate erate Southern Pacific 4 I 1 l of ot 1978 were one of at the most active rail bonds bond and they held steady Pennsylvania anla series D 4 1 l and Chicago Northwestern Northwestern Northwestern North North- western 4 3 of ot 1949 continued t to lose ground Reports are current o of early offerings of of or first firs and refunding mortgage 4 2 1 pe per percent percent cent bonds of the Louisville is Nash Nash- vilie and of of construe construe- tion mortgage 4 1 l of ot the Morris Essex a unit of the Lackawanna s system stem The subscription books fo for forthe the thc Southern Pacific Is Issue Issue issue is- is sue were closed at noon toda today Public utility obligations had an In lurly higher trend but sales salts of most o othis or of ort this croup were e ot of modest o proportions t lO In Industrial In- In t r Yu f Issues were vere r quiet 1 end and steady tS a United State government o obligations were Viere linn firm and dull |