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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: V. The ratio of preferred stock to total equities

Collection:: Economics Books

4 BurLerin No. 20 equities have a symmetrical distribution, but the distribution for com- panies with 50 millions of equities or over is irregular. The class intervals with the greatest number of cases for each group, and the concentration of cases about the interval are as follows Dominant Class ~~ Concentration Interval about Interval Companies with 50 and more millions of equities. .17-.219 319, Companies with 10-49 millions of equities. ...... .22-.269 509, Companies with 5-9 millions of equities. ........ .27-.319 379, Starting with the largest group of companies, and progressing tc the smallest group, the class interval of greatest prominence increases, each one being one class interval higher. That is, the larger companies appear to finance with less common stock than is the case with the smaller companies, The percentage figures of concentration are very low for the larg- est and smallest size companies, showing that ‘the ratios of the com- ponent.companies are not greatly concentrated about any single figure or average. The 50 per cent concentration for the companies of 10-49 millions of assets is large compared to the others. DISTRIBUTIONS BY KIND OF COMPANY Classifications of the ratio of common stock were made according to Gas and Electric, Traction, and Holding Companies, and the result- ing frequency distributions are given in Table VId of the Appendix. In each of these distributions, the class interval with the greatest num- ber of cases and the concentration of cases about the interval are as follows * Type of Company Gas and Electric. . |... Holding ....... Traction _ Concentration Class Interval of Cases .17-.219 419, .22-.269 . 479%, 132.360 4867 From these figures, it appears that the Gas and Electric Companies use less common stock in their financing than either the Holding or Traction Companies. The Traction Companies use the most common stock; a larger number of companies have a ratio from 32 per cent to 37 per cent than any other figure. More gas and electric companies had a Common Stock to Total Equities ratio of between .17 and .219 than for any other ratio group. DISTRIBUTIONS BY TYPE YEARS That changes are taking place in the ratios of Common Stock to Total Equities is shown by the trend over a period of years, As in

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