The Archive · 1938

M YORK BOND MARKET

New York, Feb. 18.

Notwithstanding the belief that relaxation of gold sterilization may portend higher prices in the bond market, Government issues ruled firm early during the past week, but became quiet later, and eased despite President Roosevelt's assertion that the dollar would not be further devalued and that money rates would be kept low.

Corporates were irregular, whilst speculative issues declined after the Chief Executive's statement to-day, but rumours that the Interstate Commerce Commission would announce its freight rate decision this week-end sustained secondary rails.

Foreign bonds were featured by the recent strength of Japanese issues, as well as by the weakness of Austrian and Czechoslovakian loans on recent European political developments.—Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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