yr,

Burreriv No. 20

LONG TERM DEBT
TABLE le.— “TOTAL EQUITIES RATIO BY SAMPLE YEARS
Frequency distributions of the ratios for public utility companies
in selected typical vears

Ratio
Groups

War year with
high prosperity
101 7%

Fairly normal year
with increasing
activity 1919%

Year of depression
and declining
activity 1921%*

Fre- Perquencies
 | centages

Fre- | Perquencies
 | centages

Fre- | Perquencies
 | centages

Totals... ..

114

100

186

100

t 70

100.

02-079
08-139
14-199
20-259

2.29
2.59
4.31
5.17
10.34
17.24
13.79
13.70

2%
3.21
3.21
5.77

3
6

4
18
5.87
1.71

S
oO

26-319
32-379
38-439
44-400

12
20
16
16

19
22
20
23

12.18
14.10
12.82
14.74

1

7.65
12.94
16.47
13.53
29 17.06
19 11.18
6 3.53
4 2.35

50-559
56-619
62-679
68-739
74-790

1
12
g

9.49
10.34
6.90
2 80

10
1
1

12.18
7.05
7.69
2.56
1.28

6

~r)

Averages:
Approximated Mode .439 L478
Following the indications of the Harvard B Curve.

495

Recent
year of prosperity
and normal activity
 1924%

Fre- | Perquencies
 | centages
100.

6
8

2.48
3.73
4.97
3.11

21
19
20
32

|

13.04
11.80
12.42
19.88
16.15
| 9.32
1.24
1.24
62

26
15
2

480

CURRENT LIABILITIES
TABLE Ha. — =—T5TAL EQUITIES RATIO
Frequency distribution of the ratios of current liabilities to total
equities of 200 public utility companies. 1915.1974

Ratio
Groups

00-019
02-039
04-059
06-079
NR-O00

10-119
12-139
14-159
16-179
18-100

20-219
22-239
24-259
26-279
28-200

30-319
32-339
34-350

Ratio
Freauencies

290
203

NE

'Q

Cumulative
Frequencies

62s
241
1144
1258

1354
1406
1441
1468
{ 4AR7

1501
1509
1518
1529
1534
1541
1545
‘881

Percentage
Distribution

EL
25.24
19.72
13.08
7.35%

6.19
3.35
2.26
1.74
{ 22

20
£2
58
7
.32
.45
26
AR

Cumulative
Percentages

3.66
40.90
60.62
73.70
81 05

87.24
90.59
92.85
94.59
05.81

96.71
97.23
97.81
98.52
08.84

99.29
99.55
100. 00

Average:
Approximated Mode