Tue Sources oF PusLic UriLity CAPITAL 
SURPLUS AND RESERVES 
TABLE IVe—=——"3GTAL EQUITIES RATIO BY SAMPLE YEARS 
Frequency distributions of the ratios for public utility 
companies in selected typical vears 
War year with 
high prosperity 
101 7% 
Fairly normal year 
with increasing 
activity 1910% 
Ratio 
Groups 
Fre- | Per- 
quencies | centages 
Fre- 
quencies 
Per- 
centages 
Totals. ..... 
(~209)~(-18) 
{(-179-(-1%) 
127 
lon. 
166 
100. 
.79 
"60 
(-149)-(-12) 
(~119)~(-09) 
(-089)—(-06) 
(~059)—(—03) 
-020)—( 00) 
1 
q 
7 
.79 
0 
,60 
.60 
.60 
1.20 
Y 41% 
00-029 
03-059 
06-089 
09-119 
17-140 
27 
30 
18 
$4 
21.26 
23.62 
14.17 
11.02 
nN 74 
27 
19.89 
19.89 
12.66 
9.64 
oO /K4 
i 
16 
Ca 
15-179 
18-209 
21-239 
24-269 
27.7200 
£72 
79 
3.94 
2.36 
1.87 
4.82 
2.41 
6.02 
3.61 
0 
30-329 
33-359 
36~389 
39-419 
42-449 
1.81 
1.20 
1.20 
¥ 
n 
ok 2 
79 
“0 
© 
| 
Averages: 
Approximated Mode .047 .047 
¥Following the indications of the Harvard B Curve. 
Year of depression 
and declining 
activity 1021% 
Fre- Per- 
quencies ! centages 
170 100. 
.56 
1.68 
.56 
56 
1.68 
1 12 
26 
ar 
22 
a 
14.53 
18.99 
15.08 
12.29 
Q 48 
7.26 
5.03 
2.23 
2.79 
1 192 
1.68 
.56 
56 
1.68 
86 
E 
Recent 
year of prosperity 
and normal activ- 
itv 1924% 
Fre- | Per- 
quencies ! centages 
100. 
1.18 
Nn 
1.18 
‘59 
- 
n 
I: 
8.88 
13.62 
18.93 
15.38 
11 KR} 
26 
My 
In 
5.92 
5.92 
5.32 
2.96 
1.96 
1.78 
.59 
1.78 
1.18 
¢ 
20