BuLierin No. 20

2.

—===Deticit (Negative ratios)
— Surplus ( Positive rotios)

Averaqe
(Mode)
O52

Average
(Mode)
£77

Trequ
 of usi-esx [Tesearch
University 4 Hitnols

Average
Mods
£049

$

3
ny 10
™N

2

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Gas & Electric Traction Holding
Ratios Lo xpressedl as Fercentages

CHART 40—FREQUENCY DisTRIBUTIONS OF THE SURPLUS-AND-RESERVES-TO-TOTAL-Eourmes
 Ratios oF Pustic UtrLity COMPANIES BY TYPE OF COMPANY

As compared to one another, the companies in the 5-9 millions
group and those in the 10-49 millions group have similar typical ratios,
and the percentages of cases are likewise similar, but for those companies
 with 50 millions of assets and over, the typical case has a surplus
 and reserve item equal to 8 per cent of its total equities which is
considerably higher than the smaller companies. The differences in
their degrees of concentration are not very large. A still greater difference
 exists between the two small groups of companies on one hand
and the large companies on the other as shown below :

Companies with Companies with Companies with
Total Equities Total Equities Total Equities
of 5-9 of 10-49 of 50 mallions
Percentage of cases with neg- millions millions and over
ative ratios (0—.209) . 5.6% 6.39, nN

In the two smaller groups of companies, 5.6 per cent and 6.3 per
cent of the cases had a deficit instead of a surplus, while no cases of a
deficit are recorded for the companies with over 50 millions of total
equities. In every respect, the large companies appear to be in better
condition so far as this is reflected in the size of the item surplus and
reserves.