Evening star., 1924-11-22
TWO NEW HIGHS
ON LOCAL BOARD
Railway Common and Limo
type Advance in Busy Day
on Exchange.
BY CHAS. p. SHAEFFER.


Two new high levels for the year
Were established on the Washington
Stock Exchange this morning in
session featured by unusual activity.
washington Railway and Electric
common opened at Sc, a APPOINT gain
over the previous high mark, but
this peak could not be held, a point
recession featuring each of the re-
manning two sales. But % shares
were traded in.
Mergenthaler Linotype also record
ed new peak, moving forward frac-
tionally to 16S on sales of 32 shares.
washington Gas Light was firm at
o. oo Shares changing hands, while
eapltal traction retained its strong
position with sales of 45 shares at
80. Railway preferred sold off frac-
tionally to 1873 on sales of 50 shares
bank stocks shared in the days
activity Riggs sold at 301. Com
mercial National at 40 and Merchants
BANK and Trust Co. at 100
Bond trading was confined to util-
tiles at former prices
Foreign Issues Popular.
Foreign security issues in the
United States during the first 10
months of 1924 were greater than
during the whole of 1922, the previous
record year, by nearly 5000, ,000, 900
thus far in the current year more
than 500, 100000 in new and refund
ing issues have been marketed in
the United States by foreign govern
ments and corporations These fig
ures. with the exception of those for
october, are based on records of new
security issues compiled by the Com
merclat and Financial Chronicle.
Ihey do not include Canadian gov
ernment securities nor securities is
sued by Canadian corporations.
The total of foreign loans already
placed in this country in 1924 is made
up of s585,OOo 900 in government
issues and s126,000,oO in corporate
issues. OF the Government loans
those for refunding purposes amount
10 slIS,OO0,0O0 and new issues to
s4oo. 100000. The aggregate for re
luholhg purposes was made up al
most entirely of japanese, Argentine
ana Belgian issues. The governments
or European countries f1oated issues
amounting to 1000, 900 and Central
anu anu oouth American government
issues amounted to s12S,00O.0O0.
OF the total of sI2s. 600 900 of for
elsn corporate issues offered during
1924, S101, 100000 have been offered
curing the last four months Nearly
one-haf of this amount was made
UP Of issues by French railroads
guaranteed as to interest and sinking
fund requirements by the French
government. Foreign corporate is
sues during the last four months
were greater than during any entire
year since the war.
Road Seeks Note Issue.
The Illinois Central Railroad TODAY
| asked the Interstate Commerce Com
mission for authority to issue s12.-
| $4,000 of 4 y per cent. equipment
trust certificates, the proceeds TO be
used In the purchase of various roll
+! ing stock.
The certificates will be sold to
| Kuhn, Loeb & Co. of New York at
$3.50.
Increase in Failures.
a moderate increase in commercial
failures in the United States this
week brought the total to 424, r. G.
Dun & Co. reports, which compares
with 405 last week and the same
number a year ago. Decreases were
shown in the East, West and the Pa
cific Coast, which We're offset by a
large increase in the South.