cases, and 43 per cent of the holding company cases. The limits thus 
established do not characterize the holding company distribution very 
well because some of its most important ratio-groups are excluded. Thus 
the largest ratio-group in this type of company 1s below .08 while some 
of the ratio-groups above .24 are relatively unimportant. This method 
of characterizing a frequency distribution fits the circumstances much 
better if the limits be set at .04 and .16. The holding company group 
shows 67 per cent of their cases between these two limits. Thus approx- 
imately the same proportion of cases, about two-thirds, falls between 
.04 and .16 for holding companies, and between .08 and .24 for both gas. 
and electric companies, and traction companies. 
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