The sources of public utility capital

Bibliographic data

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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to be thought of as “typical”’—as expressive of the central tendencies found in the two hundred companies studied. Those companies, it may be noted, include more than half of the total investments in the gas. electric, and traction industry. This study (the sixth of the series) takes up the Sources of Capital of Public Utilities, completing the picture of the typical balance sheet set-up as given in Bulletin No. 18, wherein the Property Invest- ments were analyzed. The six ratios to which this study is devoted are: Long Term Debt to Total Equities? Current Liabilities to Total Equities Capital Stock to Total Equities Preferred Stock to Total Equities Common Stock to Total Equities Surplus and Reserves to Total Equities The ratios of Preferred Stock and Common Stock are subdivisions of the ratio of Capital Stock to Total Equities. These two ratios (Pre- ferred Stock and Common Stock) are not considered in the same detail as the other ratios, although complete tables will be found in the Ap- pendix, Following the outlines of the preceding bulletins of this series, the data have been broken down into sub-classes by: (1) geographical location of the company, (2) size of company, (3) different years in the business cycle, and (4) type of operative activity of the company. In this manner, the ratios are analyzed under varying conditions, and the effects thereon, if any, are brought out. In accordance with the policy followed throughout this series of bulletins, no effort is made to explain the underlying economic causes which might account for any differences brought out by the analyses of the data. Acknowledgment is made of the indebtedness to A. H. Winakor, C.P.A., for the preparation of the manuscript of this number of the series planned by A. C. Littleton, C.P.A., Assistant Director, and to the Bureau staff generally for their efficient help. *Total Equities” is used in this bulletin in place of the term “Total Assets” which was used in previous bulletins of this series, in order to avoid possible confusion which may arise from accounting terminology.

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