group is reduced to a percentage-of-total basis. This percentage is to
be read in the charts from the figures on the left edge.
THE PRODUCTIVENESS OF TOTAL INVESTMENT
In preparing the ratios here studied the balance sheets of some
two hundred public utility companies were examined for the period
1915-1924. All of these financial statements, regardless of size of company,
 location, year or any other factor, yielded 1603 cases for study.
Of these 81 cases could not be reduced to ratios because the amount of
gross revenue was not given in the published statements. There were
43 cases in which the ratios were so high and so scattered above a ratio
of .50 that they are not included in the frequency distribution proper.
Merely to complete the record the following analysis is given of
the 43 cases of unusually high ratios: 29 cases showed ratios between
50 and .69, 9 cases between .70 and .89, and 5 cases of .90 or over.
Practically all of the cases were in either the East or the Middle West
Boreas or Bases RESEARCH
Unepsiry or liiwors-1&
i |
AVERAGE
Moor)
J
AL
0
v i
4 3 Ba
i & ) i E
~ vl — 3
$5300 EE PLGD
SI YR YRN GIL
ratios Lxpressed as Percentages
Cuart la—FreqQuency DistriButioN oF 1479 Ratios or Gross
Revenue To ToraL Assets From 200 Pusric Urinity
Companies, 1915-1924

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