Telegrapher's equations
If you mean by "series capacitor" one that is in series with the inductor on your picture  then remember that the usual telegrapher equation is trying to model a transmission line of two wires that passes dc; same answer for a shunt inductor. Now if you want to model a line that has high-pass characteristics then you get what is called TE (H) and TM (E) modes, and those do have caps in series with the inductor (TM), and shunt inductors parallel with the caps (TE); these are the higher order waveguide modes. TE, TM stand for transversal electric or magnetic, resp. (Old books call them H or E modes because the whole propagating field can be derived from the longitudinal H or E component.) These also exist in a standard transmission line of two wires but can also propagate in an empty guide, where it is obvious that dc cannot "propagate" and whatever does it must have high-pass character, after all you can see through a tube.