Evening star., 1923-12-15
BONDS FEATURE
LOCAL TRADING
British Pay $92, 900, 900 to
U. 5. on War Debts-Treas-
ury Offering Oversubscribed.

a new years high record. offset s..
a new low, both in the bond denart-
ment. featured trading on tho wa.
,is Ton STOCK Exchange this morning.
fN''entioh was centered on the IN
sestilent side Of the market, but on,
STOCK hguring in tho selling
metropolitan Railroad 5s. which ma
ture in 1925. sold to the aytar+ =,
Sl'O00 at 9942. which is the vaar.
pest quotation on the issue. On tbe
other hand, Wardman Park Hotel es
soid In small amount at 9sIa the
lowest level yet reached by the issue
washington Gas 5s brought 81, Ches-
apeake and Potomac Telephone 3,
o5ha, and Washington Gas 6s OF lg2g
"oio et par and fractionally above
British Pay So. 100000.
payment of $92,000,O00 on he
s4'ouoo0O,O00 war debt to the Unite!
states was made by Great Britain to
day. the Treasury Department an
oGnGeu; Or this amount, $23 100000
10 pTlHclpal and the remainder inter
est. This is Great Briain's second
senil-ahnual payment of interest ana
ner hrSt on principal. 1t is under
Siood that this payment was made HI
Oniteo states bonds
Flnland's first instalIrnent OF her
S5'VOOupU debt also fell due TODAY
She paid into the Treasury $50 0pn
or which s135,o00 is interest and IN
| renLaln9er principal. On February +
next, france Will pay this COVER,
ment $4,000, 900 account Of her d..
or siO0.O00,OO owed for surplus "
| material purchased.
Subscriptions Twice Offering.
Secretary Mellon announced Ia
night that subscriptions for the ~
| latest issues Of Treasury certifcate
"a Ido a1ldeDtedness dated December l.
1873, and maturing in six months ana
one year, respectively, had more thar
doubled the amount offered which
was approximately 5000, 900. coo
Iotal subscriptions, it was said. az
gregate more than sT65, 100000. of
! which about s1O9, 900. 600 represent
subscriptions for which Treasury
certificates maturing December 10
1928. were rendered in payment Al
!otments on other subscriptions wers
made as follows: "All subscriptions
In amounts not exceeding $4,000 for
any one subscriber were allotted H.
full and subscriptions over $1,000
were allotted % per cent. but not le-
than $4,000 on any one subscr.I
ton"
Business Failures Increase.
An increase of SO occurred in t.
IIulIlDcI Ol buSiHeSS IdlluTeS III iEt
United States this week, the total r.
ported to r. q. Dun & Co, being AZ
! This compares with 422 last week
and is So more than the number q
year ago. Except in the west Where
decrease of II defaults appears
more inSolvencieS occurred this week
than last week in each of the differ
ent geographical sections. The III
crease in the east is 3S and in tn
south IL. but on the Pacific coas,
there was only one more failure.
OF this weeks defaults, rs ha5
liabilities of $4,000 or more in eael
case. This is equivalent 10 Gil PEI
cent of the total of all tnsolVencIe>
compared with a ratio of 60.i per cent
last week and SIS per cent a year ago.
Bank Clearings Fall on.
Although somewhat below las.
weeks total bank clearings at Lead
ing cities of the United states this
week considerably exceed those of thu
two imm ediately preceding years
This week s aggregate, as reported
to Dun's Review. is $7,201, SOS, 600
which is 14.4 per cent more than tn
amount year ago and 1876 per cent
in excess of the figures for this period
of 1921 OF this weeks total, centerS
outside of New York contribute 81
72l: l:569.o0o. representing gains OF g.
and 22.2 per cent, respectively.
big stock Issue Asked.
The New York Central Railroad
Company today asked the Interstat,
Commerce Commission To allow 1t IT,
issue S31,510,620 in new common
stock.
Present stockholders Will be give.
the right to subscribe to the issue at
par.