Element of Unosrtainty
Is Evident, r
•*’ -,' 1 •" .IK. ' ■ * •
BV GEORGE T. HUGHES.
Special DUpetcb to Hie Star.
NEW YORK, July 9.—-Price
changes In bunds today wars highly
irregular. This was true of the
market as a whole, of different Issues
in the same group and of the same
issues at different times during the
day. The general impression pro
duced was one of uncertainty. For
the present, at least, it was plain
that the advance was halted.
One reason for the hesitation may
have been the firmer tone in time
money and the fact that the Federal
Reserve bank statement showed a
lower reserve ratio and for the New
York bank the lowest for the year
to date, . ’■*■» ■"*/'
High Yields in Demand.
In the high-grade list Canadian
Pacific 4s and Baltimore and Ohio
first 4s were fractionally down.
Atchison general 4s at 91% were un
changed . and West Shore is were up
%of a point. United States Govern
ment obligations were steady around
the previous close, which showed no
inclination to advance.
In higher yielding securities Beth
lehem Steel issues were well sup
ported and Milwaukee Electric. Rail
way and Light Is ofi 1961 in demand.
Hudson and Manhattan Income ad
vanced and then reacted. Brooklyn
Manhattan Transit Is acted the same
way. Interborough obligations were
a shade lower.- Copper bonds were
firm. but dull.' Oil Issues were
heavy, notably the Sinclair bonds,
while Kelly. 4%s fell off with the
stock. Warner Sugar 7s of 111* were
under pressure, dropping below IS
for a new low for the year.
Activity in the railway list cen
tered around Erie issues, which were.
