TuE Sources oF PunLic UtiLrty CAPITAL 
Bure v of Jusincss few 
Uni ersity of lilinois 
Ey 
- 
8% 
J; 
La 
Lage VE IC 
(Mode) Avera e 
A (Moda) 
032 
verage 
(Mode) 
036 
S 
~ 
Ss 
nN 
L le 
, 
ry 
Vv 
-» 
de allo 
iE grsfefiil TiVITETE 
$3 E22 I ARR 3T Se yRE 8T2if dyes 
5-9 Millions of Assets 10-49 Millions of Assets 5O0Millions or over of Asset 
Ratios Lapressed as Fercentages 
CHART 2c—FREQUENCY DISTRIBUTIONS OF THE CURRENT-LIABILITIES-TO-TOTAL- 
Equities Ratios oF PusLic UtiLity COMPANIES BY S1ZE oF COMPANY 
The modal ratios increase with the size of the company, but this 
is not true of the percentage of cases grouped about these ratios. The 
concentrations of cases are all high, especially the largest size (those 
Companies having total equities of 50 millions and over) which have 
72 per cent of the cases in the modal bar and its two adjoining bars. 
The larger size companies carry heavier burdens of current debt than 
the small companies, indicating a greater use of creditors’ funds for 
supplying working assets. 
DISTRIBUTIONS BY KIND 
A question naturally arises as to what differences in the ratios are 
due to differences in the types of companies included in the study. 
Classifying the data into the three groups of Gas and Electric, Trac- 
tion, and Holding Companies gave the results presented in Chart 2d. 
The Gas and Electric Companies have an even distribution ; these cases 
fall off gradually in the higher ratio groups. The Traction Companies 
do not give so even a distribution, being irregular in the higher ratio 
sroups; and the Holding Companies have practically no cases with 
ratios above .18. Another point of interest is that the distribution for 
the Traction Companies shows four bars with each more than 15 per