Evening star., 1924-11-01
INTEREST ON BONDS
BEING PAID TODAY
W. R. & E. Distribution Made
by Local Bank Instead
of in New York.
BY CHAs. p. SHAEFFER.

coupons attached to the $780, 900
Washington Railway and Electric
general mortgage and refunding SIS
Is due and payable today. the Amer
lean Security and Trust Company
making the distribution for the COM
pany.
Interest is paid emi-annually and
s74,sso will be required to redeem
the coupons.
This is the first time interest or
principal on any of the bonds of the
Washington Railway and Electric
Company has been made payable in
the home city. All other issues call
for payment at New York banks.
The Washington Gas Company
bonds, both the SIS and 6s. are pay
able as to interest and principal at
the American Security and Trust Co.
Payments of interest on Capitol
Traction 5s and redemption at ma
turity is also provided for in New
York.
Railway and Electric 6s have not
acted with any particular display Of
strength since their fotation, and the
late sales have been slightly below
the flotation price. These bonds came
out July II with two months and sew
enteen days accrued interest, they
having been used as collateral with
banks for some time before being
sold. Part of the proceeds were used
to retire something over $1,000. 900 de
benture 6s which matured early this
year and the balance was supposed
to be held against future maturities.
Additional f1otation of bonds by the
Washington Railway and Electric
Company cannot but call attention to
the closed first mortgage of the Capt.
tai Traction Company.
Last nights display of automobiles
would suggest that there was very
little business left for bus or street
car, and yet the traffic on the latter
continually taxes the capabilities Of
service.
Seeks Bond Permit.
The Western Maryland Railway to-
day applied to the Interstate Com
merce Commission for authority. nom
inally, to issue s5,65S,S75 of first and
refunding mortgage per cent bonds,
to be used partially to reimburse the
road for expenditures made for ter
minals, extensions and betterments,
and purchase of new rolling stock
since February 16, 1917.
Cars Needing Repairs.
Freight cars in need of repair
October 15 decreased S,S1S to a total
of 1877, ,226, or S.5 per cent of the num-
Der on line, compared with October ].
the American Railway Association
reports. Those requiring heavy re-
pair totaled 153,564. or 6.6 per cent.
decrease Of 1891.
Failures Increase Slightly.
Commercial failures In the United
States this week totaled 413, r. q.
Dun & Co. reports. IL more than last
week. and an increase of o5 over the
number a year ago. There were more
failures this week in the East and
West than last week, but fewer in
the South and on the Pacific Coast.
Trading on Local Exchange.
Heavy selling of Washington Rail
way and Electric general and re-
funding IS, accompanied by an adj
vance of quarter point, featured the
weeks concluding session on the local
exchange this morning. A total OF
$4,000 face value, changed hands
at 9SA, with the exception of the
first $4,000 that sold one-eighth
lower
Railway As also scored a quarter
point advance to 1JA on a sale Of
81 200, and Potomac Joint Stock Land
Bank bonds enjoyed their frs,
activity, 1000 selling at par and =
half.
The stock list was quiet.
Unlisted Securities Prices
The following latest bid and
asked prices for unlisted securi-
ties are quoted for the guidance Of
holders of these issues: