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Not f o r P u b l i c a t i o n DECONTROLLED AFTER SIX MONTHS' H.llt S e p t e m b e r 2 6 , 1957 CAPITAL MARKET DEVELOPMENTS L a r g e p u b l i c l y o f f e r e d s e c u r i t i e s s o l d d u r i n g t h e week e n d i n g S e p t e m b e r 20 t o t a l e d $ 1 0 0 m i l l i o n f o r c o r p o r a t i o n s a n d $80 m i l l i o n f o r S t a t e a n d l o c a l g o v e r n m e n t s . The c a l e n d a r f o r t h i s week i n c l u d e s c o r p o r a t e o f f e r i n g s t o t a l i n g $ 5 0 m i l l i o n and S t a t e a n d l o c a l g o v e r n ment i s s u e s a g g r e g a t i n g $ 3 6 m i l l i o n . Bond y i e l d s - C h a n g e s i n y i e l d s on o u t s t a n d i n g b o n d s w e r e m i x e d a g a i n l a s t w e e k . Y i e l d s on c o r p o r a t e and U c So G o v e r n m e n t o b l i g a t i o n s i n c r e a s e d , w h i l e y i e l d s on S t a t e and l o c a l g o v e r n m e n t bonds remained s t a b l e . Daily data indicate f u r t h e r increases in c o r p o r a t e bond y i e l d s t h r o u g h W e d n e s d a y o f t h i s w e e k . An A - r a t e d 3 0 - y e a r , f i r s t m o r t g a g e e l e c t r i c u t i l i t y bond i s s u e was o f f e r e d t o t h e p u b l i c t h i s week t o y i e l d $ . 1 0 p e r c e n t — 20 b a s i s p o i n t s a b o v e t h a t f o r t h e l a s t c o m p a r a b l e i s s u e , a n o f f e r i n g made on J u l y 1 7 , b u t 1 5 b a s i s p o i n t s b e l o w t h e p e a k y i e l d f o r a n i s s u e o f f e r e d i n l a t e May. E s t i m a t e d O c t o b e r volume - C o r p o r a t e s e c u r i t y i s s u e s f o r new c a p i t a l d u r i n g O c t o b e r a r e e x p e c t e d t o t o t a l $ 1 , 0 0 0 m i l l i o n , t h e same a s t h e e s t i m a t e d S e p t e m b e r v o l u m e , and o n e - t h i r d g r e a t e r t h a n t h e v o l u m e i n O c t o b e r of l a s t y e a r . L a r g e p u b l i c l y o f f e r e d i s s u e s a r e e x p e c t e d t o t o t a l o v e r $550 m i l l i o n i n c l u d i n g t h e $250 m i l l i o n AT&T d e b e n t u r e i s s u e . S t a t e and l o c a l government i s s u e s f o r O c t o b e r a r e c u r r e n t l y e s t i m a t e d a t $600 m i l l i o n . T h i s t o t a l w o u l d b e o n e - t h i r d - ' t h e S e p t e m b e r v o l u m e , a n d s i x p e r c e n t b e l o w t h e volume i n O c t o b e r 19#. S t o c k p r i c e s - S t o c k p r i c e s , a s m e a s u r e d by t h e SEC i n d e x of 2 6 5 common s t o c k s , d e c l i n e d 6 . 5 p o i n t s , c l o s i n g a t 2 6 3 . 2 on S e p t e m b e r 2 0 . D a i l y f i g u r e s f o r t h e f i r s t t h r e e d a y s o f t h i s week i n d i c a t e s h a r p d e c l i n e s i n p r i c e s on Monday and W e d n e s d a y , w i t h a n i n c r e a s e on T u e s d a y . T r a d i n g v o l u m e h a s b e e n h e a v i e r t h i s w e e k . More d e t a i l e d i n f o r m a t i o n c o n c e r n i n g r e c e n t c a p i t a l m a r k e t developments i s presented i n the attached e x h i b i t s . B u s i n e s s F i n a n c e and C a p i t a l M a r k e t s S e c t i o n , D i v i s i o n of R e s e a r c h and S t a t i s t i c s , Board of G o v e r n o r s of t h e F e d e r a l R e s e r v e S y s t e m . STATE AND LOCAL GOVERNMENT Aoa P. S. Govt.» long-term */ Corporate Aaa 1/ Old series f.'ew series Spread between State and U. S. Govt. local govt. (old series) and CorporateI State and Aaa J / Aaa I local Aaa (Per cent) 3.42 2.99 3.09 2.85 3.17 2.91 3.79 3.07 4.12 3.66 (6/19) (1/9) (1/8) (4/23) (12/23) (1/7) (12/28) (3/2) (9/20) (4/12) 4.11 4.12 ts It. 12 3.15 (6/6) n.a. 2.73 (6/25) 2.78 (12/26) n.a. 1.98 (1/8) 2.74 (1/9) n.a. 2.21 (6/10) 2.44 (8/7) n.a. 1.90 (9/2) 2.94 (8/5) 3.03 (8/5) 2.34 (9/8) 2.62 (1/7) 2.89 (6/10) 2.05 (5/26) 3.U9 (12/21) 3.39 (12/28)3.05 (12/27) 2.80 (2/17) 2.92 (2/3) 2.17 (2/23) 3.70 (6/21) 3.66 (8A6) 3.45 (8/29) 3.15 (2/8) 3.22 (2/8) 2.76 (2/21) I 3.68 1 / Weekly average of daily figures. 3,63 3.63 3.61 3.59 3.63 3.44 3.1»5 3.U1 3ii3 J.43 .38 .19 .13 .32 .34 .13 .44 .13 .54 .25 .84 .30 .61* .29 .70 .54 .68 .32 .49 .14 .49 .52 .54 .51 .44 .18 .15 .14 .17 .25 Average term of bonds included i s 25-26 2/ Weekly averages of daily figures. The old series includes f u l l y taxable, marketable 2 1/2 per cent bonds due or f i r s t callable after 12 years through September 1955, and those due or callable in 10-12 years thereafter; the average term to f i r s t call of the bonds included declined from 14 years in early 1953 to 11 1/2 years in early 1956. The new series i s comprised of the 3 per cent bond of 1995 and the 3 1/4 per cent bond of 1978-83. j / Thursday figures. Only general obligation bonds are included) average term i s 20 years. Note.—Highs and lows are for individual series and may be on different dates for different series. LOWER - GRADE BOND YIELDS Weekly Per cent per an Late Corporate Baa 1 / State and l o c a l govt. Baa 2 / State and l o c a l govt, rev. y (Per cent) 1953 - High 1957 - High Low 3.89 (9/18) 3.50 (1/2) 3.7k (1/8) 3.Uh (12/31) 3.63 (12/30) 3.145 ( 1 / l k ) l u h l (12/28) 3.#(3/9) k.9k (9/20) iuli2 (lj/12) 3.79 (6/25) 2.96 (1/8) 3.32 ( 1 / 7 ) 2.93 ( 8 / 5 ) 3.26 (12/29)' 3.02 (1/6) 1.22 (12/27) 3.20 ( 3 / 8 ) 1.51(8/29) 3.90 (2/21) 3.27 2.71 3.00 2.72 2.99 2.76 3.98 2.89 3.98 3.70 August 23 "August 30 September 6 September 13 September 20 1».8U It. 8? U.91 U.91 U.9U L51 U.51 h.h9 k.h9 U.U'9 y 195U - High 1955 - High Low 1956 --High (6/26) (1/2) (1/1) (8/13) (12/30) (1/7) (12/28) (2/2U) (1A) (2/22) 1 / Weekly average of dajjy f i g u r e s . Average term of bonds included i s 25-26 years. 2/Thursday f i g u r e s . Only general obligation bonds are i n cluded; average term i s 20 years. 3 / Friday f i g u r e s . Average rating of bonds included i s between Baa and A; average term i s 20 years. h/ Series discontinued, as of March 15. Note.—Highs and lows are f o r individual s e r i e s and may be on d i f f e r e n t dates f o r d i f f e r e n t s e r i e s . STOCK MARKET Stock price Trading Common volume 2 / (millions yields 2 / of shares) (per cent Stock market customer credit Customers' debit bal- loans to "others" jy (Millions of dollars) 167.1 144.0 221.4 156.5 270.7 217.U 295.5 257.4 291*.6 260.3 (1/2) (9/18) (12/31) (1/6) (12/30) (1/llt) (8/3) (1/20) (7A2) (2/8) 292.0 277.0 269.0 269.7 263.2 2.5 0.9 3.7 1.4 1.6 1.5 3.1 1.5 2.7 l.U 2.2 1.9 1-U 1.8 1.6 . 5.88 5.15 5.49 4.09 4.23 3.59 4.13 3.65 4.28 3.67 2,445 2,055 3,436 2,405 4,030 3,537 4,047 3,914 4,031 3,832 1,665 1,314 2,388 1,653 2,805 .2,517 2,823 2,740 2,887 1,713 3.75 3.98 4.03 4.02 4.13 4,004 3,929 n.a. 2,885 2,833 n.a. 780 664 1,048 746 1,241 1,018 1,267 1,155 1,163 1,092 . 1,119 1,096 r/1,109 1,092 n.a. n.a.—Not available. x / Revised. 1 / SEC index of 265 common stocks, weekly closing p r i c e s , 1939*100; converted to 19lj7-U9"100 by Federal Reserve. The conversion f a c t o r i s 123.91. 2 / Averages of daily trading volume on the few York Stock Exchange. 3 / Moody's 125 industrial stocks; weekly data based on Friday. h/ End of month f i g u r e s f o r member firms of the New York Stock Exchange which carry margin accounts; excludes balances secured t y U. S. Government obligations. jj/ Wednesday figures f o r weekly reporting member banks. Excludes loans f o r purchasing or carrying U. S. Government s e c u r i t i e s a t banks in New York and Chicago. Weekly reporting banks account f o r about 72 per cent of loans to others. Note.—Highs and lows are f o r individual s e r i e s and may be tin d i f f e r e n t dates for different series. Exhibit D H.lh C o r p o r a t e and S t a t e and l o c a l Government S e c u r i t y O f f e r i n ; s and P l a c e m e n t s ( I n m i l l i o n s of d o l l a r s ) New c a p i t a l Corporate 1956 | 1 1957 January February "arch 1,063' 1,071 l,3Wi. 195T 573 535 817 1,223 712 573 712 92lt April May June 1,1.89 771 818 1,U6 Bill July Aupust September e/1,075 e/900 e/1,000 1,063 65L 838 October November December e/1,000 1st 2nd 3rd hth 3,L?9 3,181 e/2,975 • ouarter ouarter ouarter ouarter 1st half Three q u a r t e r s Year 6,663 e/9,638 . 1,07 . 1,78 bbb . 667 597 61,h 670 1,089^ 1,088 1,162-^ 632 900 . 2,102 2,165 7^3/ 2,805 . 2,556 2,922 ' State 1955 Ii,9u7 7,1,63 10,381 2,052 1,911 2,695 h,2l6 6,127 8,821 a u u l o c ::1 Y livil 6l. 6 312 506 39u 765 516 39L 376 l,9o 1,27 735 61,? 52h 572 e/h50 1,06 206 357 e/600 639 31,7 Loc 1,821 1,705 e / l , 5116 3,526 e/5,072 >33 350 - 1,70 21,9 L06 919 658 1,08 1,190 1,603 971 1,385 1,1,18 1,121, 1,98b 3,093 2,802 3,927 5,911 1,395 h ,u61t 5,159 . E x c l u d i n g f i n a n c e c o m p a n i e s 1,/ 1st 2nd 3rd hth Year quarter ouarter ouarter ouarter 3,268 2,92k e/2,675 j 1,61,7. 2,511 2,826 1,727 1,870 ' 1 , hlil, 2,511 9,259 7,595 2,21,6 — e / Estimated. " ~~ ' 1 / D a t a t h r o u g h J u n e 1 9 5 6 a r e Bond B u y e r d a t a c l a s s i f i e d a s new c a p i t a l b y F e d e r a l R e s e r v e ; l a t e r d a t a a r e f r o m t h e I n v e s t m e n t R a n k e r s A s s o c i a t i o n of America a n d a r e s o m e w h a t more c o m p l e t e a s t o c o v e r a g e t h a n t h e e a r l i e r d a t a , p a r t i c u l a r l y f o r F e d e r a l Government l o a n s . 2 / I n c l u d e s £ 6 3 7 . 2 m i l l i o n AT&T c o n v e r t i b l e d e b e n t u r e i s s u e . 3 / I n c l u d e s # 5 7 1 . 5 m i l l i o n AT&T common s t o c k i s s u e . 17/ T o t a l new c a p i t a l i s s u e s e x c l u d i n g o f f e r i n g s o f s a l e s a n d c o n s u m e r f i n a n c e co-panies. ' N o t e . — D e t a i l s may n o t a d d t o t o t a l s d u e t o r o u n d i n g . H-.1U, ' Exhibit E L a r g e P u b l i c S e c u r i t y I s s u e s f o r New C a p i t a l ( O t h e r t h a n U". S. T r e a s u r y ) 1 / P r o c e e d s of L a r g e ' I s s u e s O f f e r e d ( M i l l i o n s of d o l l a r s ) Month Corporate 1956 - AugustSeptember October November December 1957 - J a n u a r y February March . April May S t a t e and l o c a l government 217 558 . #6 701 37 35 184 383 35 386 306 100 50 135 201 430 567 671 788 19li 477 329 499 125 25 248 176 265 877 525 "526 July August Other 2/ 39 25 357 L a r g e I n d i v i d u a l I s s u e s O f f e r e d September 1 t h r o u g h 20 Issuer CORPORATE Type 3 / Amount - Coupon (millions Maturity Offering of net inter- yield dollars) est cost - Tampa E l e c t r i c Co. 1 s t mtg. bds. 18.0 Duke Power Co. S.F. deb. 50.0 60.0 E l P a s o N a t u r a l Gas Co. Conv. d e b . T e x a s E a s t e r n T r a n s . Co. 1 s t mtg.P.L.bds. 3 0 . 0 New J e r s e y B e l l T e l . Co. Deb. 30.0 S p e r i y Rand C o r p . 110.u S . F . deb. L e h i g h P o r t l a n d Cement Co. S . F . d e b . 30.0 P h i l a d e l p h i a E l e c . Co. I s t S r e f . mtg. bds. hu.o N i a g a r a Mohawk P w r . Co. Gen.mtg.bds . 5U.U C o n s o l i d a t e d N a t . Gas Co. Deb. 3u.o P a c i f i c Power & L i g h t Co. 1 s t m t g . b d s 20.0 liating 1987 1982 1977 1977 1993 1982 1979 1967 1987 1982 1987 55/8 4 5/8 4 7/8 5 5 3/4 5.71 4.75 5.5u 4.88. 4.63 4.82 4.86 5.70 Aaa Aa Aaa Baa 5.25 It 7 / 8 5 1/2 4 7/8 Aa Aa Baa . Baa Aaa Baa A 4.85 4.74 5 4 7/8 5 1A . H.lli E-2 Large Individual I s s u e s O f f e r e d S e p t e m b e r 1 t h r o u g h 20 ( C o n t ' d ) Type"3/ Amount . Coupon (millions Maturity r a t e or Offering of yield net i n t e r dollars; est cost Rating STATE & LOCAL C O V E N A N T S a n t a Monica U.S.D., Cali£ Dade C o . , S p e c . T a x S . D . No. 1 , F l o r i d a Houston, Texas Winnebago Co. S.D. No.205 Illinois Cook C o . , I l l i n o i s Los A n g e l e s , C a l i f . B a l t i m o r e C o . , Md. W i c h i t a , Kansas S p r i n g f i e l d , Mass. Penna. Gen. S t a t e Auth. B u f f a l o , New Y o r k G.O. 5.0 G.O. . Water rev. G.O. G.O. G.O. G.O. Water r e v . G.O. Rev. G.O. 1956-77 3.60 2.50-3.65 Aa 9.5 lu. u 1959-76/66 1958-91/6? U-30 1.59 3.10-L.25 3.ou-L.5o A Baa 5.5 10.0 5.0 23.6 , ill.B 5.2 25.0 8.L 1958-73 1950-77 1956-77. 1959-97 1962-87/70 1958-82 1959-83/57 1958-72 3 .Lb 3.78 3.68 3.90 L.ii9 3.09 3.79 2.96 2.5u-3.15 2.60-3.80 2.60-3.75 2.8o-h.75 3 . 5 o - l , . 50 2.30-3.15 2.80-3.85 2.35-3.60 Aa A Aa A A Aaa 1972 5 1/2 5.75 ' —— Aaa OTHER Kingdom o f B e l g i u m Ext.S.P.deb. 30.0 ' 1 / I n c l u d e s c o r p o r a t e a n d o t h e r s e c u r i t y o f f e r i n g s o f .*15 m i l l i o n a n d o v e r ; S t a t e a n d l o c a l g o v e r n m e n t s e c u r i t y o f f e r i n g s of £5 m i l l i o n and o v e r . 2 / I n c l u d e s f o r e i g n g o v e r n m e n t a n d I n t e r n a t i o n a l Bank f o r R e c o n s t r u c t i o n a n d Development i s s u e s . 3 / I n t h e c a s e of S t a t e and l o c a l government s e c u r i t i e s , G.O. d e n o t e s g e n e r a l o b l i g a t i o n ; R e v . , r e v e n u e b o n d s ; G . R . , g e n e r a l o b l i g a t i o n s a d d i t i o n a l l y s e c u r e d by f a c i l i t i e s r e v e n u e s ; L . L . , l i m i t e d l i a b i l i t y o b l i g a t i o n s s e c u r e d by p l e d g e of designated revenues. H.lU F o r t h c o m i n g L a r g e P u b l i c S e c u r i t y O f f e r i n g s f o r New C a p i t a l ( O t h e r t h a n U. S . T r e a s u r y ) 1 / Expected Proceeds from Forthcoming Large Issues D u r i n g month f o l l o w i n g d a t e shown " Date of computation Corporate| 1 9 5 6 - Aug. 3 1 S e p t . 28 Oct. 31 Nov. 30 Dec. 3 1 1957 - J a n . 3 1 F e b . 28 M a r . 29 Apr-. 30 May 3 1 J u n e 28 J u l y 31 Aug. 30 369 315 683 136 176 591 710 L6l 187 525 370 526 578 J 131 -359 162 U8 280 153 153 290 179 97 172 252 21*3 Subsequent t o d a t e shown Other £ 7 C o r p o r a t e ^ ^ J o t h e r i j / 1,202 1,009 990 1*81 796 966 795 23 100 35 JU06 25 25 258 525 25 las 30 8U5 811 F o r t h c o m i n g L a r g e O f f e r i n g s , a s of Issuer 958 1,197 955 979 763 618 631 862 396 388 498 5114 139 23 100 35 25 25 25 30 S e p t e m b e r 20 Amount Approximate d a t e (millions of o f f e r i n g of d o l l a r s ) Type CORPORATE C o n s u m e r s Power Co. U t a h Power & L i g h t C o . P a c i f i c T e l e p h o n e & T e l e g r a p h Co. N a t i o n a l C y l i n d e r Gas C o . Gulf S t a t e s U t i l i t i e s Co. S o u t h w e s t e r n B e l l T e l . Co. N o r t h e r n N a t u r a l Gas C o . Shamrock O i l & Gas C o r p . C o l u m b i a Gas S y s t e m , I n c . -^Chemical C o m E x c h a n g e Bank Commonwealth E d i s o n C o . ^ C o n s o l i d a t e d Edison Co. American Telephone & T e l e g r a p h Co. .. S o u t h e r n New E n g l a n d T e l . C o . 1 s t mtg. bds. 1 s t mtg. b d s . Common s t k . . Coriv. s u b . d e b . 1 s t mtg. bds. Deb. Pfd. stk. Conv. s u b . d e b . Deb. Capital stk.- 35 . u 15.0 18.9 17.5 17.0 100.0 16.0 ' 17.5 25.0 U8.U Pfd.. s t k . 25.0 I s t & r e f . m t g . bds. 60.0 Deb. 250.0 Common s t k . 35*0 S e p t . 2li S e p t . 25 S e p t . 30 (rights expire) Sept. Oct. 1 Oct. 2 Oct. 2 Oct. 3 Oct-. J4 Oct. 7 (rights expire) Oct. 9 O c t . 22 O c t . 29 Nov. 8 (rights expire) H.lli F-2 F o r t h c o m i n g L a r g e O f f e r i n g s , a s o f S e p t e m b e r 20 ( C o n t ' d ) Issuer Type Amount ( m i l l i o n s Approximate d a t e of o f f e r i n g of d o l l a r s ; STATE AND LOCAL OOVFPN^'T 0.0. Oakland U n i f . Sch. D i s t . , C a l i f . Colorado S p r i n g s , Colorado Utilities rev. Highway r e v . T e r r i t o r y of Hawaii Highway r e v . S t a t e of C o l o r a d o S t a t e o f New York ' G.O. S t a t e o f Oregon G.-0. C i t y S C o . of San F r a n c i s c o , C a l i f . G.O. Highway r e v . S t a t e of Ohio C i n c i n n a t i , Ohio G.O. D a y t o n , Ohio G.O. San D i e g o U n i f i e d S c h . D i s t . , C a l i f . G.O. Commonwealth o f M a s s a c h u s e t t s G.O. Pittsburgh, Pa. G.O. ^ M a r y l a n d S t a t e R o a d s Commission G.O. W a s h i n g t o n T o l l Bridge Auth. Rev. •^Milwaukee, W i s c o n s i n G.O. S t a t e of C a l i f o r n i a , G.O. S t a t e of M i s s o u r i G.O. S t a t e of T e x a s G.O. Jacksonville, Florida U t i l i t i e s rev. U n i v e r s i t y System B l d g . A u t h . , Oa. F.ev. P e n n s y l v a n i a T u r n p i k e Commission rev. Inter-American Center Auth., Fla. Rev, New York S t a t e Thruway A u t h o r i t y G.O. 10.0 5.5 12.5 8.0 21.0 26.6 28.9 31.u 5-3 8.u 10.U 6S.u 6.3 15.u 30.5 5-5 85.0 3u.o 12.5 3o.u " Sept Sept Sept Sept Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. 1957 . 2k . 2li . 2h .27 1 1 7 8 8 10 15 15 16 16 17 22 23 1957 62.0 20.0 50.U 1957 1957 1957 1957 1957 lb.O Oct. 3 12.u OTHl'.F Union of S o u t h A f r i c a Ext. loan bds. •5'—Included i n t a b i c f o r f i r s t 2 / I n c l u d e s c o r p o r a t e and o t h e r i s s u e s 'of ? ] $ m i l l i o n and o v e r ; S t a t e and l o c a l g o v e r n m e n t i s s u e s of $$ m i l l i o n and o v e r . 2 / I n c l u d e s f o r e i g n g o v e r n m e n t and I n t e r n a t i o n a l Rank f o r r e c o n s t r u c t i o n and D e v e l o p m e n t i s s u e s . N o t e . — D e l e t i o n s f o r r e a s o n s o t h e r t h a n s a l e of i s s u e : None. H.lli Fr-2 F o r t h c o m i n g L a r g e O f f e r i n g s , a s o f S e p t e m b e r 20 ( C o n t ' d ) Issuer Type Amount ( m i l l i o n s Approximate d a t e of o f f e r i n g of d o l l a r s J STATE AND LOCAL O O V F F f W T Oakland U n i f . Sch. D i s t . , C a l i f . G.O. Colorado S p r i n g s , Colorado Utilities T e r r i t o r y of H a w a i i Highway Highway S t a t e of C o l o r a d o S t a t e o f New York G.O. S t a t e o f Oregon G.O. C i t y f C o . of San F r a n c i s c o , C a l i f . G.O. Highway S t a t e of O h i o C i n c i n n a t i , Ohio G.O. D a y t o n , Ohio C-.O. San D i e g o U n i f i e d S c h . D i s t . , C a l i f . G.O: Commonwealth o f M a s s a c h u s e t t s G.O. Pittsburgh, Pa. G.O. ^ M a r y l a n d S t a t e R o a d s Commission G.O. Rev. W a s h i n g t o n T o l l Bridge Auth' ^Milwaukee, Wisconsin G.O. S t a t e of C a l i f o r n i a , G.O. S t a t e of M i s s o u r i G.O. S t a t e of T e x a s G.O. Jacksonville, Florida U t i l i t i e s rev. U n i v e r s i t y S y s t e m BlUg. A u t h . , O a . Lev.. P e n n s y l v a n i a T u r n p i k e Commission Fev. Inter-American Center Auth., F l a . Rev. Mev: York S t a t e Thruway A u t h o r i t y G.O. 10.0 5.5 12.5 8.0 21.0 S e p t . 2li S e p t . 2h S e p t . 2h S e p t . 27 Oct. 1 Oct. 1 Oct. 7 Oct. 8 Oct. 8 O c t . - 10 O c t . 15 O c t . 15 O c t . 16 O c t . 16 O c t . 17 O c t . 22 O c t . 23 1957 1957 1957 1957 26.6 .28.9 31.u 5.3 ti.u 10.u 65 . u 6.3 15.u 30.5 5.5 85.0 • 30.0 12.5 30.0 12.U 62.0 20.0 50.u 1957 . 1957 1957 OTHl'.F Union of S o u t h A f r i c a ICxt.. l o a n b d s . 15 .o Oct. 3 —Included in tabic f o r f i r s t 1/ I n c l u d e s c o r p o r a t e and o t h e r i s s u e s o f - m i l l i o n and o v e r j S t a t e and l o c a l g o v e r n m e n t i s s u e s of m i l l i o n and o v e r . ? / • I n c l u d e s f o r e i g n g o v e r n m e n t and I n t e r n a t i o n a l Pnnk f o r r e c o n s t r u c t i o n and D e v e l o p m e n t i s s u e s . N o t e . — D e l e t i o n s f o r r e a s o n s o t h e r t h a n s a l e of i s s u e : N o n e . •
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