Salt Lake Telegram | 1938-07-28 | Page 19 | Buying in Rails Boosts Bonds

BUYING IN RAILS BOOSTS BONDS NEW KEW YORK YORK July 28 Lively U-Lively IS Lively WI-Lively Lively buying of rails rais aided by predictions of further increase in brought a substantial rally raly for the group in the te bond market Thurs Thurs- day U. U S. S government obligations also were firm fir showing increases rangIng ranging rang rang- ing up to 5 The Te rail rai movement mo influenced other groups and toward the last hour industrials and generally pointed up although utilities lagged Radio Keith Orpheum 6 jumped more than 3 points point following announcement announcement announcement an an- of the filing fing of the reorganization plan in federal court Rail Rai gains of a point or more included B. B O. O refunding convertible convertible con con- 4 41 s and of 2000 series D New York Central Southern South South- em ern Pacific 4 s and refunding Nickel Plate 6 and Southern Railway Railway Rail Rail- Rai- Rai way 6 s. s Fractionally higher were American American American Amer Amer- ican Water Works Detroit Edison Edison Edi Edt son International Telephone North American Studebaker Texas Texa Corp Utilities Power Pow Pow- er Light 55 and Western Union 55 of 60 American n T Telephone 3 s or of ot 66 were unchanged Off Of a bit were American Foreign Foreign Foreign For For- eign Power Ss Anaconda Copper 4 8 Bethlehem Steel 38 Goodyear Goodyear Good Good- year ds and ad Shell Shel Union 3 His 38 were down more I than a point In the foreign division French Stamped 7 s were up about 1 VA and Japan 6 s rup up a bit Lower Austria 73 75 dropped 74 8 3 on a single transaction