Tue Sources oF PusLic UriLity CAPITAL 
Bureav of Business flesearch 
University of linois 
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3 
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Average 
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417 
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8 ¢ X 8 ¢ § 28 FX 8 8 
Aatios Lxpressed as Fercentages 
CHART 3A—FREQUENCY DISTRIBUTION OF THE CAPITAL-STOCK-TO-ToTAL-EQUITIES 
RaT108 OF PusLic UtiLity CoMPANIES, 1915-1924 
pecially in the South where three-fourths of all the cases are in three 
class intervals out of twelve. 
These differences in the percentages are plainly shown by the 
types of the distributions given in Chart 3b. The distributions for the 
East and West are squat and well spread out, while the distributions 
for the Middle West, and especially the South, are tall and concen- 
trated near the central bars. 
DISTRIBUTIONS BY SIZE OF COMPANIES 
Does the size of the company influence or determine the propor- 
tions of capital stock used in financing public utility companies? An 
answer is found to this question by the grouping of the data into com-