example, in which revenue in one year amounted to $17 per dollar of 
net worth: in another case where net worth amounted to only 3 per 
cent of total assets the revenue ratio was $6 per dollar of net worth. 
Such extreme cases are of course infrequent, and the conditions produc- 
ing them are unusual due to temporary special causes. Nearly two-thirds 
of the ratios which are above 1 are less than 2, and 17 per cent are 
over 3. 
With regard to location the unusual cases are distributed geograph- 
ically in about the same way the normal cases are, with perhaps, some 
tendency to be concentrated in the East and Middle West. About 86 
per cent of the unusual cases are in these two districts in comparison 
with 74 per cent of the normal revenue/net worth ratios. There is a 
tendency, however, for the unusual ratios to appear in traction compa- 
nies; 56 per cent of those cases are found in this type of company as 
compared with 25 per cent of the cases of typical ratios. It is to be 
Bureau oF Business RESEARCH 
UNIVERSITY OF /iLINOIS -24 
hn’ 
i 
L ss 
AVERAGE 
(Moo) 
2 29 
bik 
| 
2 Ek 
BR 
: vo 
~ [o) . 1 Cy" TING EG) 
MLE YT 2.5 2% 
P33 NPL Ine 
Ratios Lxpressed as Percentages 
Cuarr 2a—Frequency Distrisution oF 1417 Ratios oF Gross 
Revenue To Ner Worta From 200 Pusric UriLity 
Companies, 1915-1924 
rea 
iG