NORMS AND TRENDS IN NET EARNINGS 143 
TABLE 02 
NUMBER OF YEARS, 1919-1925, IN WHICH THE DISTRICT RATIOS OF 
NET EARNINGS TO EARNING ASSETS AND OF NET EARNINGS TO 
Gross EARNINGS WERE ABOVE OR BELOW THE CORRESPONDING 
YEARLY AVERAGES FOR THE COUNTRY AS A WHOLE 
FEDERAL 
RESERVE 
DISTRICTS 
ABOVE 
Net Earnings 
to Earning 
Assets 
Net Earnings 
to Gross 
Farnines 
Berow 
————— 
Net Earnings 
to Earning 
Assets 
Net Earnings 
to Gross 
Earnings 
Boston......... 
New York...... 
Philadelphia. . .. 
Cleveland. ..... 
Richmond. ..... 
Atlanta........ 
Chicago....... 
St. Louis. ..... 
Minneapolis. . . 
Kansas City. .. 
Dallas. ..... 
San Francisco 
One ob 
table indicates the fact of the districts at some time during the 
years in question being above or below the country average; the 
latter one shows agreement or disagreement of position at tke 
same time. The detail of Table 93 are the more significant, 
therefore, in showing uniformities of the positions occupied by 
districts relative to the country’s average. 
For the twelve districts for the seven years, there are 84 
paired positions for the two types of ratios. In 81% of them, 
the two ratios for the various districts occupy the same relative 
place at the same time. That is, if they tend to be high (or 
low), judged by one criterion, they tend to be high (or low) 
at the same time judged also by the other. Agreement of this 
type for the two measures of net earnings serves to emphasize 
the fact of position and persistence in holding it. Some of the 
districts must, of course, be below if others are above the country 
level, but it is not required that some districts should consistently 
be above and others below, nor is it necessary that both measures 
of net earnings should generally agree in placing them in such 
positions for an equal number of years, and that the years in