m
ilS
QiUCKLV BOUGHT
Southwestern Bell 150,000,(^00
Offering Five Times Oversub
scribed, is Market Rvport
NEW YORK, Jati. $*.—Heavy over
subscription of ths Southwestern Bell
Telephone $50,000,000 Issue of 6 per cent
bonds offered today St 9844 and active
buying which seni the price up a full
point higher In trading on the stock
exchange featured today’s bend mar
ket. It waafreported that the offering
was about/ five times oversubscribed
and that allotments would be on a 20
per cent balls.
The reception accorded the bonds im
parted a strong tone to other Bell Tel
ephone issues, although the public
utility group as a whole lost ground.
Short term liens attracted the best
prices.
Seaboard Is, Frisco adjustment ts, St.
Louis and Southwestern consolidated
4s and Erie ’’D" 4s reach new high
lovels for the year. Profit taking wal
directed against some of the copper and
sugar issues, which scored sharp ad
vances last week.
Virginia.Carolina Chemical 7H» again
were weak.
New financing, It was reported in
bond clroles, would be speeded up by
the ready absorption of tn* Southwest
ern Bell Telephone issue. The only
Issue, however, which appeared ready
for offering w&s the St. Louis and
Southwestern $1, *00,000 on two-year
5H equipments.
Total bond saleo, par valuO, $13,808,
000.
Ten first grade rails averaged 86.9B;
net loss, .15..
Ten secondary rails averaged $4.58;
net gain, .03. •
Ton public utilities averaged 81.00;
net loss, .18.
Industrials averaged. 94.43; net loss,
.10.
Combined averaged 88.34; net loss, .10.
