Salt Lake Telegram | 1938-12-30 | Page 19 | Bonds Ignore Selling Wave

BONDS IGNORE SELLING WAVE NEW YORK Dec 30 UP Bonds UP-Bonds Bonds continued to move ahead Friday despite despite de- de spite pite active profit selling in some sections of the list A sizable group of rails and a number umber of trading favorites in the utility a and a d industrial divisions reached cached new high marks for the December rise rise Sentiment m lea bond circles indicated expectation expectation tion ion of a heavy reinvestment de demand demand de- de mand after the turn of ot the year Up fractions to two or more points in n late trading were T M-K-T Ss of oX 62 Republic Steel 4 s Southern Pacific 35 of 46 Western Union Unions Ss 55 s of 51 and of Utilities Power Pow- Pow er r and Light and Lehigh Coal Coa and nd Navigation 4 s. s Loans of Great Northern North American Company and Pressed Steel teel Car retreated a little U U. S S. governments added gains of f 1 l to 4 Italian loans under pressure recently rallied 1 to o around 3 points Japanese 6 3 rose ose a po point or so