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:: III. The ratio of capital stock to total equities

Collection:: Economics Books

THE Sources oF PusLic UtiLity CAPITAL pppoe rrr urea of Business i socarcr Universiy »f Minos ER | > Averaqe Moda) 55 Average (Made) 442 Average Mode} B54 w— or A] S 15] LS 3) " " > | 5 J le Fs § vo C2 8 238 bs om 7 8 3 ¢ 4% 3 6 5-9 Millions of Assets 10-49 Millions of Assets SO/Millions or over of Assets Fatios FE xoressed as Fercentaaes CHART 3¢—FREQUENCY DISTRIBUTIONS OF THE CAPITAL-STOCK-T0-ToTAL- EQUITIES Ratios oF PusLic UriLity COMPANIES BY Size oF COMPANY companies can finance with a thinner equity of stock. The companies with over 50 millions of equities use 35 per cent stock as contrasted to 52 per cent for the companies with 5-9 millions of equities. But in regard to the concentration about the mode, the trend is opposite to that of the ratio. As the ratio decreases in the larger com- panies, the degree to which this ratio may be called typical increases, as shown by the increased percentage of cases grouped about the mode. It seems to be a safe conclusion that there is a greater uniformity of policies for large companies than for small companies, in regard to their financing with stocks. DISTRIBUTIONS BY KIND Tabulation of the data for the ratio of Capital Stock to Total Equities for Gas and Electric, Traction, and Holding Companies are given in Table IIId of the Appendix. The differences among these three groups may be shown in part as follows: Modal ratio. .......oviviviniiinnneninnn, —oncentration about the mode... Ce. Gas and Eleclric Traction Holding .405 .472 .452 51% 53% 499,

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