I'ue Sources oF Pusric UrtiLity CAPITAL 
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CHART 6A—FREQUENCY DisTriBUTION OF THE COMMON-STOCK-TO-TOTAL-EQUITIES 
Ratios oF PusLic UtiLity CoMPANIES. 1915-1924 
respectively. The West, which has such a high ratio of common stock, 
has the lowest percentage figure, namely 41 per cent, which shows that 
there are fewer companies in the West whose ratios approximate the 
high typical ratio of .424 than there are in other geographical sections. 
DISTRIBUTIONS BY SIZE OF COMPANY 
The frequency distributions for companies according to the amount 
of their total equities are given in Table VIc. The cases are grouped 
according to those having total equities of 5-9 millions, 10-49 millions. 
and 50 millions and over. 
For the companies with from 5-9 millions of equities, there does 
not appear to be any single typical type of financing as shown by the 
distributions of ratios. Seven bars out of eleven each contain more 
than 10 per cent of the cases. The companies with 10-49 millions of