Show All CLASSES OF BONDS DECLINE Rails in Particular Are Subjected Subjected Subjected Sub Sub- to Pressure For- For Recede By VICTOR EUBANK i Associated Tress Financial Writer NEW YORK Jan 29 The 29 The bond bon I market had a sinking spell Frida Friday and practically all classes of ties lowered their prices The rails In p particular were v subjected sub to pressure and issues that dur duro inc ing the past month had Ie registered I gains of from 10 to 40 points were attacked with considerable success Erie Eric were off oft 2 4 1 Missouri Pacific 1 of 1977 1 8 3 Nickel Plate 4 2 1 1 58 8 Frisco 1 4 l 1 1 2 1 Chicago Northwestern 4 3 45 2 and various other carrier liens were e fractionally lower ower The news as a whole was ered far from encouraging Reports from rom Chicago that negotiations between be be- tween transportation executives anc and union leaders were being subjected to o numerous delays caused renewed selling of the rail loans The action o of Bethlehem Steel in omitting It its dividend on the common stock while generally discounted weakened prIces of some bonds The foreign section receded with the he rest of the list Japanese obligations obliga obliga- ions were thrown on the market fo for unusually heavy losses The Japa nese government 6 l 1 dropped 2 28 8 8 points Consolidated Electric 8 Oriental Development 3 C Orlen Orlen- tal al Development 5 l 1 6 4 1 Tokio Electric Light 3 2 1 and Tokio City 5 l 1 2 1 Selling o of lite Nipponese liens lens was due to growing uneasiness over the Sino Japanese situation In Shanghai United States government bonds bond were verc soft but bul their reaction was generally generally gen gen- fractional Most 1 o of the utilities ties tics joined the downward trend although al al- al though hough Consolidated Gas 5 l rc re- covered moderately The industrials industrial were verc cas easy |