Show r f BOND FLUCTUATIONS NA OW m r Trading Is S Still Moderate German Issues Recede out 2 Points By ALEXANDER ER HENDERSON Associated Tress Press lre Financial Writer NEW EW YORK July 22 2 WV-Th WV The declined Irregularly to toy to- to bond market t- t oday y but but trading tring with a Sew few ton was WR of moderate proportions Sharp losses ios loss In Gen German obligation was Sha a leading feature Declines In Inthe inthe i the 5 l 1 and o 0 of the national vcr i t about 51 2 4 points point and the loss lo In the 6 per abut cent cent Issue of October 1960 o othe of the pr Central Agricultural bank was a I somewhat larger although the trad trad- inK Ine was lighter than In the two for for- Issues The trend In other Is Issues Is- Is su sues eurs s of that nation naton was a downward dovward also but the te Individual losses loc were cc not not sIo so 1 large Declines of 1 point o or orl 1 more mor appeared In Argentine 65 o of i Mn May 1961 Australian 55 of Bel- Bel 1 t glan tn 75 Brazilian Braman 6 Is of 1926 57 Co Go- C- C of October 1961 Polish 75 s 's and Uruguayan Cs 6 Loans Lan of at th the United Unit st StaVes States governS government govern govern- gover- gover S merit ment were steady ady but sales were few rand rad and small saU Railroad obligations enjoyed a I larger turnover than tha other domestic corporate issues The Irregularly lower trend in them was v principally a mat matter r of minor mior fractions St. St Paul Pauls Pul s of 2000 20 Pennsylvania series sere D 4 4 s sad sand 5 and Eric 53 of 1975 were some of the themore themore ad Ere 5 me more mor active rails rail to t recede Delaware Hudsn Hudson act e 43 4 of 19 13 1913 Boston Botn Maine 53 5 of 1955 and Pennsylvania General s scored ored varying gains galM Industrial issues were more active than U the public utilities but the turnover turnover turn turn- tur- tur limited hud over orr in hi both groups was wa they tey lacked a definite defnie trend Phillips Petroleum 5 u Jumped about 2 points one ono of the best advances avance of pint the Industrial group and a n reflection of an a improved outlook for the petroleum petroleum petr- petr petro petro- leum industry indicated In recent price advances in crude 01 oil American and Foreign Power Ss 5 American Telephone Ss 5 of 1960 1060 Dc- Dc trait troit Edison ELn 4 s of 1961 and North American 53 5 of 1961 were among the few active utilities but their changes change vero ero narrow narow and mixed Kreuger and Toll Ton and Texas Tex Corporation Ss 5 were two active stock privilege Issues and lost lost fractions Most Mot such bonds were dull dul in keeping with th the Inactivity of stocks |