BuLrerin No. 20

COMMON STOCK
TABLE VId.— TOTAL EQUITIES RATIO BY KIND OF COMPANY
Frequency distributions of the ratios for public utility
companies according to tvpe

Ratio
Groups

Totals. .....

02-069
07-119
12-169
| 72-210

22-269
27-319
32-369
37-419

42-469
47-519
EY_SLQ

Gas and Electric

Traction

Holding

Fre- Per- | Fre- | Per- | Fre- | Perquencies
 centages quencies centages quencies centages
527 100. 100 100.

1
56
Q4.

.09
C78
10.63
15.04

79
..62
436

2.33
5.13
11.54
13.46

ad
372

78
64
64
2

14.81
12.14
12.14
5 21

25
39
45
23
| 9
0
ry

11.21
17.49
20.18
10.31
4.04
4 in

oa
25
9

17.30
16.02
5.77
9.62

oy

33

6.07
6.26
6 !2

5
9
Py

| 3.21
5.77
2.85

Averages:
Approximated Mode

COMMON STOCK
TABLE Vle— TOTAL EQUITIES RATIO BY SAMPLE YEARS
Frequency distributions of the ratios for public utility
companies in selected typical vears

Ratio
Groups

Totals

02-069
07-119
12-169
17-210

22-269
27-319
32-369
37-410

42-4£9
47-519
SILKAQ

War year with
high prosperity
101%7%

Fre-11enciese


Percentages


Rik

1 GO

6.06
7.58
9.09
13.64
18.18
18.18
3.13

3.03
£.06
A OA

Fairly normal year
with increasing
activity 101Q%

Fre- | Perfniencies
 centages

OA

100

‘
N

1.26
4.26
9.57
9.57
20.21
15.96
10.64
9.57
4.26
5.32
6 3%

‘ 0

15
10
9

2

Year of depression
and declining
activity 1921%

Fre- | Perauencies
 ' centages

1 “Nn

on

1.36
1.82
15.45
10.91
13.64
5.45

1
f

c

4 55
€.26
2 A4

Recent
year of prosperity
and normal activitv
 1074%

Fre- Perauencies
 | centages
100 100

14
19
18

4.59
12.84
17.43
16.51

7
15
13
4

6.42
13.76
11.93
3.68
5.50
2.75
41 80Q

6 !
3

Averages:
Approximated Mode .... ‘uuu
*Following the indications of the Harvard B Curve.