Salt Lake Telegram | 1932-04-18 | Page 13 | Bonds Reverse to Turn Heavy

BONDS REVERSE TO TURN HEAVY Apparently Follow in Sympathy Sympathy Sympathy Sym Sym- pathy to Stocks Point or More Losses Noted NEW YORK ORK April 18 H The JP-The The The bond Lond market reversed the upward trend of recent sessions Monday turning heavy apparently in sympathy sympathy sym sym- pathy with stocks There were a few exceptions to the generally heavy henvy tone but the list looked tired after its efforts on the upside and relapses of a point or more were rather numerous in all groups U. U S. S governments eased cased losing small tractions in less active trading In some circles there is a belief belie that bonds of lower ratings will continue con con- for the present to be Covered by y trends in stocks on the theory that present earnings are unsatisfactory tory and that they may continue so into the second quarter High grade bonds would normally tend to profit by easy money and it is believed would be further helped by stoppage of af liquidation of loan collateral by banks Railroad liens were decidedly mixed Publication of Chesapeake Ohio's results showing a larger net railway operating income than was earned last year was interpreted interpreted interpreted inter inter- favorably however and such offerings s as appeared in the carrier group roup were light Eric Erie Missouri Pacific Frisco 4 l Chicago Northwestern 4 s. s Baltimore Ohio 4 I 2 and Northern Pacific worked lower Firmness in Cincinnati Gas and Electric Pacific Gas Gass Gas's s 's Consolidated Consoli dated Gas of New York 5 l 1 International ional Telephone 55 was counterbalanced by early heaviness in such utilities as Postal Telegraph American merican Telephone of 1965 North American and Detroit Edison although declines seemed to have been prompted by the thinness of the market rather than by the size of selling elling orders Similar irregularity prevailed among imong the Industrials where fluctuations ran ranging ing from a fraction to a couple of points on either side of Sat Saturdays Saturdays Saturday's close were numerous