The sources of public utility capital

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Monograph

Identifikator:: 1765274494

URN:: urn:nbn:de:zbw-retromon-144018

Document type:: Monograph

Title:: The sources of public utility capital

Place of publication:: Urbana

Publisher:: University of Illinois

Year of publication:: 1928

Scope:: 52 Seiten; graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: II. The ratio of current liabilities to total equities

Collection:: Economics Books

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

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