Show SEC SECOND SECUND ND GRADE RAIL BOND PRICES DROP NEW YORK July 20 Vir Virtually the only trend discernible Inte Inthe in inthe the te bond market Saturday W was a downward movement in second- second grade rails rais Other parts part of the list were steady w with th trading at low ebb In 1st yielding further ground the rails rais rounded ou out a a week of highly erratic price movements movement featured by heaviness in the more recent ses ses- ses- ses The selling movement also aso affected a few of the tive lve utility ratings Losses ranged to around a point in loans of Baltimore Ohio St St. StPaul St Paul American Foreign Power Great Northern Missouri Pacific Northern Pacific Frisco Postal Post I Telegraph and Southern Railway A couple of the carrier loans es cs escaped escaped es- es the pressure and were able ablo to o record e ord small smal gains In this group were Nickel Plato Plate 4 1 l and New NewYork York Central Ss Other minor gainers gainers gainers gain gain- ers included Western Union Pacific Pa Pa- chic Gas Ga Electric 55 and International International Inter Inter- national Telephone 55 U. U S. S gov governments were practically practical practical- ly motionless on a volume wholly in line with wih a Saturday in mer Home Owners Loan Lan 2 3 is 3 gave up 32 3 of a point at 1013 Advances were in the majority in the foreign division but there too dealings were extremely small smal Japanese 5 1 l led the forward movement with wih an advance of 1 3 8 Australians Austrians Belgians and German 65 were fractionally higher Italian were down a point at 70 O. O |