Denver and Rio Grande Western 5s
sold down a point and Missouri,
Kansas, Texas adjustments dipped
below 03. On the other hand there
was good support for International
Great Northern adjustments and for
Seaboard Air Line bonds. Fraction
al losses were recorded by the local
tractions, including Interborough 7
per cent notes, Third Avenue re
funding 4s and adjustment 6s, and
Hudson and Manhattan incomes. In
ternational Telephone and Telegraph
s!£s were firm again, undisturbed
by the decline in the stqpks. Oil
bonds as a group were steady and
so were the copper and mining is
sues. Granby 7s made a new top
at 115. Sugar bonds were not af
fected by the heaviness elsewhere in
the list.
There were few significant changes
in the foreign group. German in
dustrials were in good demand and
so were City of Greater Prague
7V&s.
The new financing for account of
the Havana Electric Railway Co. is
scheduled for Monday. It will con
sist of $5,500,000 in 25-year per
cent debentures carrying subscrip
tion warrants for common stock.
The price is expected to be 92. To
day’s offerings included $1,750,000
Great Terminal Warehouse
Co. first 6V2S, due 1941, at par by
A. C. Allyn & Co.
MICHIGAN INDUSTRIES 0. K.
DETROIT, August 13.—Michigan in
dustries as a whole are in good shape,
with prospects of further improve
ment in the next few months. Minor
labor disturbances in the building
trades are diminishing. Many new
high records of production have been
established in various linos in the last
7Vfe months. Mortgage monev con
tinues plentiful.
CALL MONEY FIRMER.
