THE Sources or PusLic UrtiLity CAPITAL 
31 
The smallest companies, those with 5-9 millions of total equities, 
have the largest dominant ratio group, .20-.239, and those companies 
with 10-49 millions of total equities have the greatest number of cases 
in the group .16-.199. In sharp contrast to these smaller companies, 
the companies with 50 millions of equities or over have their greatest 
number of cases in the very low ratio group of .04-.079; ie., for these 
largest companies, more cases had a ratio of Preferred Stock between 
4 per cent and 7.9 per cent of the total equities than for any other class 
interval. 
+ DISTRIBUTIONS BY KIND 
Distributions of the data for Gas and Electric Companies, Traction 
Companies, and Holding Companies are given in Table Vd. The Gas 
and Electric and Traction Companies have fairly symmetrical dis- 
tributions, but the Holding Companies do not have any distinct central 
tendency. The approximated modes and the percentage of cases con- 
centrated about the modes are as follows: 
Modal ratio. ........ 
Concentration about the moc 
- 
Gas and 
Electric Traction 
141 .156 
579% 519, 
The type of distribution obtained for holding companies does not 
lend itself to the calculation of a typical average. 
DISTRIBUTIONS BY TYPE YEARS 
Frequency distributions of the ratios of Preferred Stock to Total 
Equities are given for the years 1917, 1919, 1921, and 1924. These 
distributions which are given in Table Ve are not all symmetrical and 
are not satisfactory for the calculation of typical ratios. The class 
intervals in which the greatest percentage of cases fall for each year 
are as follows: 
1917 1919 1921 1924 
Class interval........... eee. 12-159 16-199 .... .16-.199 
Concentration about the interval....... 350% 519, 579% 
For the year 1917 the dominant bar is for the class interval next 
below those for 1919 and 1924. No class interval is given for 1921, 
because it has no distinct central tendency.. There is not a great deal 
of difference in the concentration of cases as shown by 50 per cent in 
1917 and 57 per cent in 1924.