Evening star., 1925-01-02
$75Q,O)D PEPCO 6S
BEING PAID TODAY
American Security Is Meet
ing misunderstanding
on Local Exchange.
BY CHAS. p. sHAEFFER.

The Washington Railway and Eleo-
trio Company is today taking up an
issue of $750,000 of Potomac Electric
Power debenture 6 per cent bonds,
dated January 1, 1915; maturing jan
uary 2, 1925.
The issue is being retired at the
American Security and Trust Com
pany, where the company has the
necessary funds on deposit.
While the obligation totals $3.50, 900,
there are only about 100000 of the
bonds outstanding, the utility hav-
ing acquired the remainder, from
time to time. out of surplus funds.
II was said today at the companys
ofhces that an issue of new bonds
would probably be marketed at q
later date to replenish the carriers
treasury for the redemption expendi-
ture.
The retirement will add materially
to the days local turnover, which
VIII aggregate several millions Of
dollars. Many bank dividends, in
Guiding extra disbursements. are pay
able today, in addition to the usual
nrst of the year melons" The divi-
dens of the Capital Traction Com
pany Is also being received
Trading on Local Exchange.
Favorite securities were responsible
ioI tHe DuIR or trade recorded on
the Washington Stock Exchange to-
DAY. The price level was unchanged,
nrm tone being maintained through
out the day
Heavy selling of Washington Rail
way and Electric general 6s featured
the day, total Of $4,000 changing
hands Sales included a block Of
S41 900. Railway As were strong at
16rs, and Chesapeake and Potomac
Vanced a half point to 97A on sales
of $4,000.
On the stock side of the list Rail
way preferred sold at its recent
strong level, S1A, as did Washington
| Gas at 531a. Capital Traction was
unchanged at 91&, and National Mort
gage and Investment preferred
| brought 9.
Cars Available for Service.
The number of surplus freight cars
| In good repair and Immediately avail
able for service continues to gain, ac-
| cording to the American Railway As
| sociation. On Decem Der 22 a total of
| 23O,19S was reported, an increase OF
| 1857 cars, compared with the number
| on December IA.
Surplus coal cars in good repair on
| the same date totaled 100,SSO, a de
| crease of 463 under the number re
I
/ box cars in good repair totaled 93,-
| 120, a gain of 7,015 within a week
Reports show 1904 surplus stock
| cars.
There is no car shortage being re-
| ported.
Many Rail Bonds Due.
| An avenue of considerable refinancing
| VIII be opened by railroad maturi-
| ties in 1925. Some of the carriers
have already provided for redemp-
| tions, but many will be forced to re-
| sort to refunding.
| Rail bonds and notes falling due this
| year will aggregate s370,4O8,76O, against
| Sls6,952,230 in 1924, S196,952,230 the
previous year and s2S9,992,960 in 1922
| The largest amount maturing in any one
year in the last decade was in 1921,
when s456, 6,644,S20 were retired
July will see the greatest amount fall
ing due this year, when s143, ,00s, 500 will
| be taken care Of This amount will in
clude the Baltimore and Ohio prior lien
3i2s, in amount of s74, ,909 730, due July
| /. On the same date this carrier will
have maturing s44.9s1, ,090 of South
| western Division 31ks
| The Chicago, Milwaukee and St Paul
| line will have more than $4,000, 600
maturities during the year.