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:: IV. The ratio of surplus and reserves to total equities

Collection:: Economics Books

Tan Zo en & 3 DISTRIBUTIONS BY KIND OF COMPANY XN A brief survey of Chart 4d shows the features of diieréhed o> tween Gas and Electric Companies, Traction Companies, and” Hotdifig Companies regarding their ratios of Surplus and Reserves, Outstand- ing among these are the few cases with deficits in the Gas and Electric Companies and the Holding Companies in contrast to the large number of bars showing deficits in the Traction Companies. The approximated modes for these three distributions and the percentages of cases grouped about these modes are as follows: Modal ratio. .......... Concentration about the mode. . Gas and Electric Traction Holding .052 077 .049 479, 47% 68% The Holding Companies and Gas and Electric Companies have similar modes although there is a substantially greater concentration of cases about-the mode for the Holding Companies. The Traction Com- panies have 7.7 per cent of their total equities made up of surplus and reserves, and this figure is justly typical as indicated by a concentration of 47 per cent of the cases about this ratio. However, a judgment of the three types of companies based on the above figures alone would be misleading. An important contrast is brought out below. Gas and Total percentage of cases with deficits Electric Traction Holding (negative ratios 0—.209)... 297, 139, 497 The great contrast here lies between the Traction Companies with deficits for 13 per cent of all the cases, and the Gas and Electric, and Holding Companies with deficits for 2 per cent and 4 per cent re- spectively. DISTRIBUTIONS BY TYPE YEARS To determine the effect upon the ratio of Surplus and Reserves to Total Equities of differing degrees of prosperity, the ratios for the years 1917, 1919, 1921, and 1924 have been selected for analysis. The details of the distribution for the ratio of surplus and reserves for these years are given in Table IVe. The modes calculated by the ap- proximation formula, and the percentage of cases grouped about these modes are as follows: Modal ratio. .....oouvn... Concentration about the mode. . 1917 1919 1921 1024 ,047 .047 .051 L077 599, 5207, 499, 489, The ratios for 1917 and 1919 are alike at .047, but 1921 and 1924 show increased ratios of .051 and .077. While the ratio has thus been

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