NORMS AND TRENDS IN NET EARNINGS 143
TABLE 02

NUMBER OF YEARS, 1919-1925, IN WHICH THE DISTRICT RATIOS OF
NET EARNINGS TO EARNING ASSETS AND OF NET EARNINGS TO
Gross EARNINGS WERE ABOVE OR BELOW THE CORRESPONDING
YEARLY AVERAGES FOR THE COUNTRY AS A WHOLE

FEDERAL
RESERVE
DISTRICTS

ABOVE

Net Earnings
to Earning
Assets

Net Earnings
to Gross
Farnines

Berow

—————

Net Earnings
to Earning
Assets

Net Earnings
to Gross
Earnings

Boston.........
New York......
Philadelphia. . ..
Cleveland. .....
Richmond. .....
Atlanta........
Chicago.......
St. Louis. .....
Minneapolis. . .
Kansas City. ..
Dallas. .....
San Francisco

One ob

table indicates the fact of the districts at some time during the
years in question being above or below the country average; the
latter one shows agreement or disagreement of position at tke
same time. The detail of Table 93 are the more significant,
therefore, in showing uniformities of the positions occupied by
districts relative to the country’s average.
For the twelve districts for the seven years, there are 84
paired positions for the two types of ratios. In 81% of them,
the two ratios for the various districts occupy the same relative
place at the same time. That is, if they tend to be high (or
low), judged by one criterion, they tend to be high (or low)
at the same time judged also by the other. Agreement of this
type for the two measures of net earnings serves to emphasize
the fact of position and persistence in holding it. Some of the
districts must, of course, be below if others are above the country
level, but it is not required that some districts should consistently
be above and others below, nor is it necessary that both measures
of net earnings should generally agree in placing them in such
positions for an equal number of years, and that the years in