Show U UI S LOANS FIRM FIRMON ON BOND MARKET i I NEW YORK May 21 Principal P activity in Saturdays Saturday's brief bond market market mar mar- ket session was confined to United States government loans most o of which recovered part of their theor losses of the past two days Four of the treasury issues which bore the brunt of liquidation Thursday Thursday Thurs Thurs- day and Friday recorded gains of a point or more and the Liberties moved fractionally higher At the same time an easy and dull dul tone prevailed in the corporate categories cate cate- gories with some of the rails drifting to new lows for the year and utilities and industrials holding to a narrow range Followers of the government group were said to have been somewhat Impressed im impressed Im- Im pressed by the apparent determination tion of the federal reserve board t to press its easy money and credit expansion ex cx- program Announcement that no railway interest interest in in- terest defaults were expected nex month was received with seeming indifference indifference in in- difference by the holders of carrier carric bonds Santa Fe 4 l dropped 2 points at one time lime for a new 1932 low lo although the roads road's general gained fractionally Moderate losses were suffered by some liens of Baltimore Ohio Canadian Pacific Chicago Chicag St Northwestern St Paul and New Nc NewYork York Central Illinois Central 4 3 Is Missouri Pacific and Pennsylvania 4 l 1 steadied |