Bond buyers with an eye for quality got their wishes Friday as solid credits from the industrial, telephone, and finance sectors took the lure of easing interest rates.

Procter & Gamble Co., New York Telephone Co., and General Motors Acceptance Corp. found ready buyers for their notes and bonds as the bellwether Treasury long bond dipped to 8.43%. Seasoned corporate issues, meanwhile, gained 1/4 point in the secondary market.

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