Show FIRMER FIR ER MONEY HAMPERS HAMPER'S HAMPERS BONDS BUNDS Small Turnover Due to Deadlock In Iii MartOn MartOn Mart On Price By Dr BYRON SELLER S Special lal Correspondent of o The Standard Standard Examiner Copyright 1026 C Consolidated Press Association NEW YORK Oct FIrm 2 2 money cast a shadow over the bond market this week with tho th result that prices were era rather heavy and trading was dull More or less lass of a 0 price d deadlock exists at present Sellers refuse to make malo concessions asked by buy buy- buyers buyers or ers The latter are equally stub stub- stubborn stubborn born In declining to pay asked prices As Ag an outcome the thu actual turnover In tho the market for tor out out- outstanding out outstanding standing Issues is small and has been for tor or some time Th The level hovel ot of quotations Is ad ad- ad d high although It averages about of at a point below the peak reached last June Juno That high level In itself constitutes a a barrier to activity pending clearing up ot of the money situation UNUSUAl 1 DEVELOPMENT Call money went a as high as 6 per cent this weds week weel and time money which I Is a better standard for tor measurement of or bond prices was quoted as liS high as 5 4 per cent a anew anew anew new maximum fur for fixed date late money this year oar The firmness ot of o mone money was not an abnormal develop elop development ment It is usual for tor rate rates to stiffen over October 1 However It also Is Js normal for tor money rates rutes to ea ease e up after October 1 settlements settlement are completed and the market should ease ase up very ry soon although It also Is la likely to harden by tM the end ond of the month Wall street Is talking of ot the pos pea pos of ot ai an advance In the t cral ad- ad d cral reserve bank rate rates ratel before th the 1 end or of o th tho year It It Is no secret that some bankers expect su such h a That In 11 a II nutshell Is the reason renson the bond market Is sluggish and buyers buers are co coy A higher bank banle rate ratO also would mean meana meana a higher level of or Int Interest rates gen pen generally erl which v would react against bonds until the seasonal or of mone money disappears n C CAN NOT Nor W VAiT Of or course a II certain amount or of buying I is done alt all the time by institutions Insurance companies ac J hi a 11 rule Invest In their Income promptly They have havo found that In the lonz Ions run it does not pay to walt wait for reactions reaction in bond prices Over a p period of or years prices havea have a habit of or averaging up But in- in in institutional buying has haa not been active E banks also alBo buy whenever they have surplus Land funds the savings banks have hll been going in more for real estate mort mort- mort mortgages Sages mort-Sages gages crage than thau cor corporation bonds Railroad bonds bons were Inc inclined to droop drOOl this week Many of or the high grade nn and hod second second-orade is- is issues Is Issues sues lost I a ground there were St Loul Louis Louic San Francisco Income 6 Gs were active proun around 3 JG 26 i These bonds sold Eold ex ek e on October 1 and there was large largo investment the the- mind do-mind mand on the theory that they would recover after oCter Interest came off oct Chicago Rock Roele Island Pa- Pa Pa Pacific c bonds also aleo we were e pretty well because of ot the tho company's record or or 01 this year Soa- Soa board Sia-board board junior bonds were well taken on the tho roads road's showing cot tor tho ho first months In the lie local traction group the was quiet buying of Third Avenue adjustment s Is and refund refund- refunding In ing 4 is Tho The company's report for tha ha last two months showed a good surplus compared with a deficit for the correspond In period ot of last year SUGAR r AND SO NJ COPPER COPPElt In tho the Industrial division do- do domand de demand mand ra rat rap to eug sugar r and copper bonds bond because use prices of or both sugar sUlar and copper have havo been stronger with will the prospect ot of b hotter earnings for forthe forthe the companies concerned The fhe demand for tor foreign bonds bond which was so o good recently peter peter- petered petered ed out wit lithe result that reces roces- recessions were the rule Much Juch of oC the buying buring ii In the last few Cew weeks wees had come from Crom abroad where ban bankers leers arc are closer to the scene seno and are arc In Ina ina Ina a better botter position than thaul our Investors to ascertain the true truo situation However that foreign demand has been tilled filled for the time being New financing this week reached I a volume in excess of or It 11 Included a broad of ot tor- tor for foreign eign Issues an and l domestic IndustrIal public utility municipal and other bonds The of or the tho market marlet for Cor new bonds was the paucity or of oreally really high grade securities The scarcity of or bonds ot of o the best rat rating ing trig has been a 11 c of ot marlet for tor some Bome time and ac- ac mounts nc-mounts mounts for a bg bs demand for tor high high- high grade grade new bonds whenever the they are put on on on the market ARGENTINE BONDS The largest single piece of o new financing was an offering ottering of or 16 16 16 Argentine Argentino government 34 3 34 year 6 per cent bonds They were sold at 98 U to yield per cent At the same sarno time It was announced by the bankers tor for Argentina that they had 1 marketed privately 20 20 of six months Argentine government treasury notes on a 5 per cent basis The Tho bonds were a public offering ottering The Tha Argentine government bond offering ottering was the largest piece ot or South American financing arranged In the New NewYork NewYork NewYork York market this year |