TrE Sources oF Pusric UtiLity CAPITAL
CAPITAL STOCK
TABLE Hle— TOTAL EQUITIES RATIO BY SAMPLE YEARS
Frequency distributions of the ratios for public utility companies
in selected typical vears
War year with
high prosperity
101 7%
Fairly normal year
with increasing
activity 1919%
Ratio
Groups
Fre- | Per-
quencies | centages
Fre-
guencies
Per-
centages
Totals ==
120
100
168
100.
00-079
08-159
16-239
24-310
%
9
14
3.08
6.92
10.77
4.62
‘8.46
16.92
“NR
L9
3.17
7.14
10.71
22
1R
32-399
40-479
48-559
56-639
19
24
22
4
35
5
7
20.83
14.88
16.08
1? 50
64-719 8
72-799 | 8 6.1%
80-879 2 1.24 |
88-950 3 2 x1
12 7.14
4 2.38
2 1.19
1 70
Averages:
Approximated Mode .482 .427
*Following the indications of the Harvard B Curve.
Year of depression
and declining
activity 1921%
Fre- | Per-
quencies | centages
1R2
100
0
75
5.49
17.57
22.52
14.84
14.29
13.74
10
32
Al
26
oh
5
3
|
2.75
2.78
1.65
Be
421
Recent
year of prosperity
and normal activ-
itv 1924%
Fre- Per-
quencies | centages
100.
1.12
3.35
3.91
18 44
43
°8
21
“4
24.02
15.64
11.73
13.41
7 |
3
2.23
3.91
1.68
86
+10
SURPLUS AND RESERVES
TABLE Va.—=""15TAL EQUITIES RATIO
Frequency distribution of the ratios of surplus and reserves to total
equities of 200 public utility companies. 1915-1924
Ratio
Groups
(~209)-(-18)
(=179)-(-15)
(~149)-(-12)
(—119)~(-00)
(~089)—(~06)
(-059)~(-03)
(-0201—( 00)
00-029
03-059
06-089
09-119
12-140
15-179
18-209
21-239
24-269
27-200
30-329
33-359
36-389
30-419
12-440
. 1
Ratio
Freauencies
>
14
-
238
309
231
182
Ice
ry
11
21
17
1°
Cumulative
Freanenciee
J
IR
27
21
40
54
76
314
623
854
1036
14R"Y
1280
1342
1395
1432
146%
1486
1503
1521
1530
co
Percentage
Tietribntion
8
rg
.58
.26
.58
01
1 49
15.44
20.05
14.99
11.80
aq 70
6.03
4.02
3.44
2.40
2 14
1.36
1.10
1.17
.58
ay.
Cumulative
Percentages
.58
{ 16
1.74
2.00
2.58
3.49
1 01
20.35
40.40
55.39
67.19
76 0%
83.01
87.03
90.47
92.87
Q5 01
96.37
97.47
98.64
99.22
100 00
Average:
Aporoximated Mode
