This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research

Volume Title: Industrial Profits in the United States Volume Author/Editor: Ralph C. Epstein assisted by Florence M. Clark Volume Publisher: NBER Volume ISBN: 0-87014-025-6 Volume URL: http://www.nber.org/books/epst34-1 Publication Date: 1934

Chapter Title: Retail Trade; Wholesale Trade; Retail and Wholesale Trade Chapter Author: Ralph C. Epstein, Florence M. Clark Chapter URL: http://www.nber.org/chapters/c5033 Chapter pages in book: (p. 313 - 326)

CHAPTER 22

RETAIL TRADE THE major group, Retail Trade, is subdivided into ten minor trading groups: Automobiles; Men's Clothing; Department Stores; Drygoods; Furniture; Groceries; Jewelry; Building Material and Hardware; Lumber and Coal; Miscellaneous Retail Trade. The number of corporations in each group and their average size are shown in Table 55. The groups. are described briefly: Includes corporations selling and servicing either passenger cars or trucks. This sample is not typical of the trade which it represents in that the average size of the corporations included is unusually large. Men's Clothing Department Stores Drygioods

Furniture

Groceries: The 14 enterprises belonging to this group are exceptionally large in comparison with the typical firms engaged in the retailing of groceries, as chain store corporations are included. Average sales per company in 1928 were about 100 million dollars. Jewelry

Building Material and Hardware: Stores which merchandise building supplies and hardware, some also selling lumber at retail. Lumber and Coal

Miscellaneous Retail Trade: Includes all manner of articles sold at retail but not classified under any other minor group. Among them are: Boots and Shoes; Millinery; Music and Instruments; Notions; Cigars; Tobacco and Smokers' Supplies; also, the miscellany of products sold by mailorder houses.

-

[313]

INDUSTRIAL PROFITS

[314]

TABLE 55 RETAIL TRADE GROUPS, LARGE IDENTICAL TRADING CORPORATIONS SERIES (A) SIZE AND CHARACTER OF SAMPLE NUMBER OF CORPORATIONS

AVERAGE CAPITAL PER CORPORATION

(millions of dollars) ARITHMETIC MEAN

Major group 12 Retail trade Minor group

283

75 Automobiles

15

1.64

76

Men's clothing 77 Department stores

17 93

2,01 7.39

78 Drygoods

27

3.24

79 Furniture 80 Groceries 81 Jewelry

12

1.59

14

16.06

11

1.25

Building material and hardware 27 83 Lumber and coal 15 84 Miscellaneous retail trade 52

6.81

MEDIAN

1.59

82

1.03 1.20 15.22

'Total capital (i.e., includes funded debt) as of December 31, 1928.

3.7 4.3 6.1 11.1 2.0 9.2 9.5

12.9 76 Men's clothing 10.7 77 Department stores 10.6 78 Drygoods 7.3 79 Furniture 3.5 80 Groceries 20.0 81 Jewelry 82 Building material and hardware 5.6 10.4 83 Lumber and coal 8.1 84 Miscellaneous retail trade

34.0 38.0 13.1 29.6 43.8

77 Department stores 78 Drygoods 79 Furniture 80 Groceries 81 Jewelry

Ten-year aggregate.

10.4 12.0 15.8 23.0 16.1 12.8

34.1

47.4

9.5

81.8

25.5

75 Automobiles 76 Men's clothing

Major group 12 Retail trade Minor group 17.4

19.5

27.3 10.0

29.2

16.7

8.9 8.2

8.5

25.3 13.9 12.6 11.1

14.4 23.5 6.6

16.4 22.1 8.9

15.1

6.4 7.7 7.4 8.0

16.7 14.3 11.3

27.3

16.2

8.2 8.2 6.7 7.7

4.0

6.1

10,1

14.6 12.7 12.9 7.9 21.0

33.3

16.1

8.1 9.1

5.6 3.7 9.2 8.1

5.3 7.5 4.3

6.6 9.2

15.7 4.1 9.0

7.1

7.4

7.3

26.1 4.7

.

4.9 8.0 5.9

6.4

1925

4.3 7.2 5.9

6.2

1924

4.6 7.7

6.7

1923

4.1 7.6

6.9

16.1 19.1

8.3

5.0 3.3 .8

4.4

1.8 3.8 5.0 5.3 6.3 4.1

3.5

1922

11.1 9.1 12.6 11.7 10.3

(C) PERCENTAGE INCOME TO CAPITALIZATION

2.1

11.4

4.9

7.5

75 Automobiles

3.6

8.7

1921

TABLE 55 (conlinued) 1920

Major group 12 Retail trade Minor group

(B) PERCENTAGE INCOME TO SALES

1919

23.1 10.9 12.2 12.7 7.5 21.7 14.2

15.3

8.3

3.8 6.0 5.6 6.0 4.3 3.4 12.3 7.4 7.1

5.9

1926

11.2

22.0

8.9

11.4 11.7 12.2

17.5

15.2

5.7 3.2 10.0 6.2 8.1 8.6

5.4 5.2

3.1 6.8

5.7

1927

18.2 12.6 9.4 11.9 9.8 21.6 15.1

13.7

13.6 7.0 9.0 7.9

3.1

3.4 7.4 4.6 6.0 6.0

5.3

14.9 14.1 14.3 12.2 22.5 12.7

25.8

14.9

7.4 8.2 7.2

10.7

3.5

7.4

7.1 6.1 6.3

4.1

5.8

1928 1919_281

r—i

1922

10.7 9.7 16.3

11.9 9.8 14.3 23.5

77 Department stores. 78 Drygoods 79 Furniture 80 Groceries 81 Jewelry 82 Building material and hardware 83 Lumber and coal 84 Miscellaneous retail trade 10.7 9.7 16.0

6.5

24.2 13.9

14.4

1924

75 Automobiles 76 Men's clothing

Major group '12 Retail trade Minor group

12.2 14.1

11.4

10.1

17.0

18.5

7.4 21.7 13.2 10.0

11.1

20.0 10.9 11.4

14.6

1926

11.4

9.6 11.6

21.0

14.6 11.7 11.2 7.9

27.9

15.2

1925

15.7 11.4 10.7 11.0 8.9 21.8 10.6 8.2 10.7 16.8

14.3

1927

15.6 12.6 8.8 10.6 9.6 21.3 14.3 8.4 10.5 14.7

12.9

1928

28.3 34.3 53.5 61.0 21.9 77.1 49.2 55.0 26.0

38.4

30.4

1924

52.4 28.9

44.4 46.8 68.7 42.1

50.8 38.7 47.0 85.4 41.3 38.1

36.7

48.0

51.8 45.6 45.0 58.8 38.2 62.3 65.2 54.1

54.7

46.1

41.7

35.7 35.6 48.3 65.7 37.6 60.0

1927

1926

28.7

33.6

1925

70.0 43.8

45.7

54.7 42.8 39.9 47.8 35.5 30.0

45.3

42.2

1928

PAID OUT IN CASH DIVIDENDS

8.4 10.6 15.2

1928 1919—28'

(E) PERCENTAGE OF INCOME

8.2 10.7 17.3

1927

TOTAL CAPITAL

10.1 17.5

10.0

1926

(D) PERCENTAGE PROFIT TO

11.6 11.4 19.0

1921

1925

1920

1923

(c) PERCENTAGE

INCOME TO CAPITALIZATION (continued) 13.6 23.1 6.8 13.6 82 Building material and hardware 13.3 9.1 26.7 24.1 4.2 11.9 83 Lumber and coal 14.9 4.0 1.4 14.2 16.3 84 Miscellaneous retail trade

1919

TABLE 55 (continued)

-4

0

9.2 10.6 63.6

9.5

0.4 0.4 1.4 4.9

36.4 100.0

0.8 2.2 7.1 16.6 25.8

0.4

CESSIVE CLASSES

BYSUC-

1919

EACH CLASS

PERCENTAGE IN

ACCUMULATED

20.1 15.6 11.7 10.2 20.5

2.5 6.7 12.7

21.9 42.0 57.6 69.3 79.5 100.0

2.5 9.2

7.7

4.9.

9.2 10.6 24.7 20.5 14.7 7.7

65.0 79.7 87.4 92.3 100.0

4-4.5

9.2 19.8

CLASSES

15.5 23.3 15.5 15.5 9.2 16.7

0.4 3.9

1922 19.8 43.1 58.6 74.1 83.3 100.0

0.4 4.3 0.0 6.0 13.1 21.9 23.3 18.0 8.1 9.6

64.3 82.3

41.0

0.0 6.0 19.1

90.4 100.0

1923

EACH CLASS CLASSES

CESSIVE

BYSUC-

CESSIVE CLASSES

AGE IN EACH CLASS

PERCENTAGE IN

BYSUC-

PERCENT-

BYSUCCESSEVE

ACCUMULATED

ACCIJMULATED

ACCUMULATED

1921

PERCENTAGE IN CLASSES EACH CLASS CESSIVE

BYSUC-

1920

EACH CLASS

PERCENTAGE IN

ACCUMULATED

Under zero Zero to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 and over

1.1

8.9 28.3 61.2 78.5 87.7 94.1 100.0

1.1

7.8 19.4 32.9 17.3 9.2 6.4 5.9

1924

4.6 8.8

8.1

23.7

0.0 5.7 20.8 28.3

1925

3.5 5.3

21.5 31.1 22.3 9.2

26.5 54.8 78.5 86.6 91.2 100.0

.5.7

1.1 6.0

0.0

1926

RATIONS, 1924—28. MAJOR GROUP 12: RETAIL TRADE

27.6 28.6 16.6 5.3 4.6 4.9

28.6 59.7 82.0 91.2 94.7 100.0

1.1 11.3

1.1 7.1

1927 12.4 40.0 68.6 85.2 90.5 95.1 100.0

1.1

.

30.0 26.5 16.6 7.4 4.2 2.2

1.8 11.3

43.1 69.6 86.2 93.6 97.8

L8 131

100.0

1928

(G) FREQUENCY DISTRIBUTIONS OF PERCENTAGES OF TOTAL PROFIT TO TOTAL CAPITAL, INDIVIDUAL CORPO-

5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 and over

Under zero Zero to 4

INCOME TO CAPITALIZATION

PERCENTAGE

(F) FREQUENCY DISTRIBUTIONS OF PERCENTAGES OF TOTAL NET INCOME TO CAPITALIZATION, INDIVIDUAL CORPORATIONS, 1919—23. MAJOR GROUP 12: RETAIL TRADE

I-

I:

CHAPTER 23

WHOLESALE TRADE EIGHT minor groups comprise Wholesale Trade. Two—Drygoods and Groceries—are the wholesale equivalents of two minor groups bearing these names in the Retail Trade sample already discussed. Two others—Hardware, and Building Material and Lumber—correspond in part with two other Retail Trade groups. Three groups

of this Wholesale Trade sample, however, were not found separately in Retail Trade. These are Drugs, Importers and Exporters, and Paper. The eighth group is the Miscellaneous category. The number of corporations in each group and their average size are shown in Table 56. Except for the Miscellaneous group, descriptions are unnecessary here. Miscellaneous Wholesale Trade: Comprises 82 corporations engaged in all sorts of wholesale trading activities. Principal trades included are: Coal; Fuel and Wood; Cigars; Tobacco and Smokers' Supplies; Jewelry; Music and Instruments; and Jobbers of Electrical and Plumbing Supplies.

TABLE 56 WHOLESALE TRADE GROUPS, LARGE IDENTICAL TRADING CORPORATIONS SERIES (A) SIZE AND CHARACTER OF SAMPLE NUMBER

Major group Wholesale trade 13 Minor group 86 87 88 89

OF CORPORATIONS

AVERAGE CAPITAL PER CORPORATION1

(millions of dollars) ARITHMETIC MEAN

292

1.99

Drugs Drygoods Groceries

25 29

Hardware

43

1.25 1.53 1.56 2.25

59

[3 18]

MEDIAN

.99

[319]

WHOLESALE TRADE

TABLE 56 (continued) WHOLESALE TRADE GROUPS, LARGE IDENTICAL TRADING

CORPORATIONS SERIES NUMBER

AVERAGE CAPITAL PER CORPORATION'

(millions of dollars)

OF

CORPORATIONS

ARITHMETIC MEAN

MEDIAN

Minor group 90 Importers and exporters 91

Building material and

92

Paper

lumber

23

2.34

13 18

2.32

82

2.49

1.39

93—85 Miscellaneous whole-

sale trade

1Total capital (i.e., includes funded debt) as of December 31, 1928.

1919

Hardware

Drygoods Groceries 6.2 4.6 4.2

Ten-year aggregate.

15.6

93—85 Miscellaneous wholesale trade 22.3

2.0

—2.7

28.4

92

91

9.2 2.5

—1.5

7.6 6.1 2.6

19.7 5.4

18.0 37.2 21.7 21.1 24.9

4.7

2.4 10.2 11.6 11.5 9.2 16.3 11.0 9.9 11.4

11.2 13.2 12.6 11.0 12.9 13.5 8.5 13.3 16.6

13.7

5.5

4.0

.8

13.8

3.0

2.3

—.1

23.0

3.4

4.0 5.4

2.2 2.0

Importers and exporters Building material and lumber 28.1 18.1 Paper

Hardware

Drygoods Groceries

.7 —.8

16.8 12.2 14.2

87 88 89 90

Major group 13 Wholesale trade Minor group Drugs 86

(C) PERCENTAGE INCOME TO CAPITALIZATION

91

6.3 3.1

4.5 4.5 2.9 6.1 3.9

3.7 4.3 3.2 4.5

.2.7

5.0 1.6 .9

4.5 10.2 3.9 7.6

2.3

4.4

1923

3.8

1922

.9

1921

3.6

1920

5.7

Importers and exporters 7.1 Building material and lumber 5.0 3.5 92 Paper 93—85 Miscellaneous wholesale trade 5.8

87 88 89 90

13 Wholesale trade Minor group 86 Drugs

Major group

(n) PERCENTAGE INCOME TO SALES

TABLE 56 (continued)

10.8 6.8 11.1 6.7 10.6 11.5

7.4

11.8

10.0

3.9

2.4

3.7 3.0

2.0 2.7 3.2 2.2

4.8 8.4 9.3

8.6 10.7 4.5 10.2 8.7

11.9 10.9 9.2 9.5 11.3 7.9 11.3 11.9

10.4 8.4 7.4 9.9 11.0 6.9 7.7 7.7 6.8 6.7 8.4 12.9 11.5 9.1 9.3 8.6 6.5 6.2 10.5 11.2

9.1 7.8 7.7 9.7

10.7

8.7

8.6 9.5

2.1 3.2

3.5

2.3 4.5 3.5 3.5 2.6 3.9

4.0 4.0

4.3 3.6 2.0 4.5 4.7 3.5 3.8 2.1

4.0

3.5

1928

3.2

3.0

1927

9.6

2.9 2.2 4.2

2.4

2.7 4.3 2.0 2.8 2.5 3.8

3.8 2.8 2.0 3.9 2.5

4.1 3.6

4.2 3.0 3.5

3.2

1926

3.3

1925

3.4

1924

r

0

Z

Hardware

Drugs Drygoods Groceries 11.7 7.4 10.8 6.7 10.5 6.7 10.3 11.4

9.8

10.9

.7.0 7.7 7.6 6.6 6.6 8.3

12.7

9.1 9.3 8.5 6.3 6.2

10.4 11.1

9.4

11.4

9.5

7.6 9.3 4.8 8.3 9.2

7.8

9.8 9.1

8.5

1927

10.3 8.4 7.3 8.5 10.2 4.5 10.0 8.5

3.5

1928

58.6 58.2 64.4

46.7

59.1 54.3 69.2

47.3

59.8

1924

63.1 56.2 77.5 58.6

57.4

58.3

51.8

48.4

58.9

1925

62.5

78.4

54.3 64.0 60.3 96.5 69.3 58.5

67.9

1926

61.9

83.4.

34.9 100.0

237.0

52.5 39.5 66.9

86.2

1927

29.6 93.8 60.2 90.7

57.6 64.3 58.6

41.9

66.9

1928

0.0 0.0 2.1 7.9 12.3 16.4 15.4

45.9

30 and over

0.0 0.0 2.1 10.0 22.3 38.7 54.1 100.0

CESSIVE CLASSES

ACCUMULATED BY SUC-

1919

EACH CLASS

PERCENTAGE IN

Under zero Zero to 4 5 to 9 10 to 14 15 to 19 20 to 24 25 to 29

PERCENTAGE INCOME TO CAPITALIZATION

21.0

16.1 8.2 9.2

15.4

12.0 9.2 8.9

1920 12.0 21.2 30.1 45.5 61.6 69.8 79.0 100.0

2.7

16.4 8.6 2.1 1.0

25.0 20.9 23.3

100.0

96.3 97.3

25.0 45.9 69.2 85.6 94.2

76.7 85.6 90.1 100.0

5.3 5.1

20.6 7.9

33.9

20.6

37.0 14.0 8.9 4.5 9.9

5.1

12.3 62.7

1.0

1.0 6.1 26.7

60.6 81.2 88.1 94.9 100.0

1923

ACCUMULATED PERCENT- BY SUCAGE IN CESSIVE EACH CLASS CLASSES

3.4

25.7

3.4 8.9 24.7

CLASSES

ACCtJMULATED BY SUCCESSIvE

1922

AGE ZN

EACH CLASS

CLASSES

PERCENT-

CESSUVE

ACCUMULATED BY SUC-

1921

ACCUMULATED BY SUC- PERCENTPERCENTAGE IN CESSIVE AGE IN EACH CLASS CLASSES EACH CLASS

(F) FREQUENCY DISTRIBUTIONS OF PERCENTAGES OF TOTAL NET INCOME TO CAPITALIZATION, INDIVIDUAL CORPORATIONS, 19 19—23. MAJOR GROUP 13: WHOLESALE TRADE

90

Importers and exporters Building material and lumber 91 Paper 92 93—85 Miscellaneous wholesale trade

86 87 88 89

13 Whoksale trade Minor group

Major group

1926

PAID OUT IN CASH DIVIDENDS

1925

TOTAL CAPITAL 1924

(E) PERCENTAGE OF INCOME

(D) PERCENTAGE PROFIT TO

9

30 and over

25 to 29

10 to 14 15 to 19 20 to 24

to

9.9 33.6 32.9 12.7 3.8 2.0 2.7

Zero to 4

5

2.4

100.0

91.5 95.3 97.3

2.7 0.3

3.1

31.5 15.1

31.8

45.9 78.8

12.3

2.1 13.4

2.1 15.5 47.3 78.3 93.9 97.0 99.7 100.0

CESSIVE

BY SIJC-

1.7 2.1 1.7

36.3 27.1 13.0

16.4

1.7

1926

PERCENTAGE IN CLASSES EACH CLASS

81.5 94.5 96.2 98.3 100.0

54.4

1.7 18.1

100.0 1.4

0.3 14.7 55.8 84.6 93.5 96.2 98.6

1927

CESSIVE CLASSES

2.4-

8.9 2.7

28.8

0.3 14.4 41.1

EACH CLASS

PERCENTAGE IN

ACCTJ-

MULATED BY SUC-

ACCUMTJLATED BY SUCCESSIVE CLASSES

ACCU-

MUtATED

1925

EACH CLASS

PERCENTAGE IN

2.4.

CESSIVE CLASSES

1924

EACH CLASS

PERCENTACE IN

Under zero

PERCENTAGE PROFIT TO TOTAL CAPITAL

ACCUMULATED BY SUC-

87.3

96.2 98.3 99.3 100.0

28.4 8.9

2.1 1.0 0.7

38.3

2.4 20.6 58.9 2.4 18.2

1928

ACCUMULATED PERCENT- BY SUCCESSIVE AGE IN EACH CLASS CLASSES

(G) FREQUENCY DISTRIBUTIONS OF PERCENTAGES OF TOTAL PROFIT TO TOTAL CAPITAL, INDIVIDUAL RATIONS, 1924—28. MAJOR GROUP 13: WHOLESALE TRADE

TABLE 56 (continued)

C',

0

Z

CHAPTER 24

RETAIL AND WHOLESALE TRADE THE major group designated as Retail and Wholesale Trade does not include corporations engaged in either retail or wholesale trade alone, but only enterprises which carry on both wholesaling and retailing activities. The major group is subdivided into oniy four such trades, one a miscellaneous category: Coal; Hardware; Building Material and Lumber; Miscellaneous Retail and Wholesale Trade. The number of corporations in each group and their average size are shown in Table 57. Only the Miscellaneous group need here be described, since the others have been treated in the two preceding chapters.

Miscellaneous Retail and Wholesale Trade: The 52 corporations of this group are engaged in all sorts of trading activities, the principal pursuits followed or commodities dealt in being: Commission Dealers; Boots and Shoes; Drugs and Chemicals; Furniture; Glass, Paints and Oils; Stationery.

TABLE 57 WHOLESALE AND RETAIL TRADE GROUPS, LARGE IDENTICAL TRADING CORPORATIONS SERIES (A) SIZE AND CHARACTER OF SAMPLE NUMBER OF

Major group' 14

(millions of dollars) ARITHMETIC MEAN

MEDIAN

39

2.15

1.01

10 16

2.24

CORPORATIONS

'VVholesale and retail

trade Minor group 96 97 98

AVERAGE CAPITAL PER CORPORATION

Coal, wood and fuel

Hardware

11

1.16 1.16

sale and retail trade 52

2.66

Lumber 99—95 Miscellaneous whole-

Total capital (i.e., includes funded debt) as of December 31, 1928.

[323]

1919

1

6.7

16.4

16.4 17.6 25.4

11.7

22.6

17.0

19.8

Miscellaneous wholesale and 21.2 retail trade

Ten-year aggregate.

99—95

Lumber

Wholesale and retail trade 14 Minor grouP Coal, wood and fuel 96 Hardware 97

98

7.8

3.5 5.5

.

10.7

7.0 2.0 7.3

9.4-

5.3

2.1 1.1 4.3

3.6 6.5 9.0

3.1

8.0

4.5

5.6

1921

7.2

1920

PERCENTAGE INCOME TO CAPITALIZATION

retail trade

Major grout

(c)

98

Lumber 99—95 Miscellaneous wholesale and

Wholesale and retail trade 14 Minor group Coal, wood and fuel 96 Hardware 97

Major group

(B) PERCENTAGE INCOME TO SALES

14.8

15.0 8.7 17.3

14.3

7.2

4.5 4.3 8.2

6.6

1922

14.8

17.8 11.4 17.5

14.9

7.5

5.0 5.0 8.5

6.9

1923

TABLE 57 (continued)

12.1

14.8 8.0 11.4

12.0

7.0

5.2 3.6 7.5

6.4

1924

10.4

8.3

13.7 10.3

10.6

6.2

5.6

4.9

5.9

6.0

1925

11.5

15.5 9.6 7.1

11.5

7.3

5.0

4.5

6.3

6.7

1926

10.2

10.7 7.7 6.8

9.8

6.5

5.5 3.8 5.0

5.9

1927

9.7

5.1

10.8 7.6

9.3

6.0

4.0

6.2 3.9

5.7

12.8

13.3 10.2 10.7

12.5

6.6

4.8 4.7 6.3

6.1

1928 1919_281

cj,

t')

Hardware

97

8.3

10.0

11.7

13.7 10.3

10.3

1925

14.6 8.0 11.4

11.6

1924

5.1

9.5

9.9

11.1

10.7 7.5

9.1

1928

10.7 7.6 6.9

9.6

1927

15.5 9.5 7.2

11.2

1926

35.9 50.0 62.2 56.8

56.7

53.5

1925

23.0 66.2 43.3

52.2

1924

60.2

70.0

57.1

40.0

57.2

1926

67.7

69.3 66.3

42.9

64.6

1927

75.2

90.8 75.0 98.3

78.1

1928

PAID OUT IN CASH DIVIDENDS

TOTAL CAPITAL

13.5

45.0

30 and over

18.0

0.0 2.2 4.5 5.6 11.2

CESSIVE CLASSES

ACCUMULATED BY SUC-

0.0 2.2 6.7 12,3 23.5 41.5 55.0 100.0

1919

EACH CLASS

PERCENTAGE IN

Under zero Zero to 4 5 to 9 10 to 14 15 to 19 20 to 24. 25 to 29

PERCENTAGE INCOME TO CAPITALIZATION

20.2 16.9 7.9 28.1

16.8

10.1 10.1

26.9 47.1 64.0 71.9 100.0

2.2 6.7

2.2 4.5

16.9 13.5 25.8 15.7 9.0 5.6 2.2 11.3

12.4

5.6

2.2 7.9 16.9 21.3 25.8 7.9

74.1 82.0 87.6 100.0

27.0 48.3

10.1

2.2

CESSIVE CLASSES

ACCtJMULATED BY SUC-

1922

AGE IN EACH CLASS

CESSIVE CLASSES

16.9 30.4 56.2 71.9 80.9 86.5 88.7 100.0

PERCENT-

ACCUMULATEO BY SUC-

1921

PERCENTAGE IN CLASSES EACH CLASS

CESSIVE

1920

EACH CLASS

PERCENTAGE IN

ACCUMULATED BY SUC-

11.2 6.8 11.2

21.4 25.8 20.2

0.0 3.4

0.0 3.4 24.8 50.6 70.8 82.0 88.8 100.0

1923

ACCUMTJLATED PERCENT- BY SUCACE IN CESSIVE EACH CLASS CLASSES

(F) FREQUENCY DISTRIBUTIONS OF PERCENTAGES OF TOTAL NET INCOME TO CAPITALIZATION, INDIVIDUAL CORPORATIONS, 1919—23. MAJOR GROUP 14: RETAIL AND WHOLESALE TRADE

98

Lumber 99—95 Miscellaneous retail and wholesale trade

Coal

96

14 Retail and wholesale trade Minor group

Major group

(E) PERCENTAGE OF INCOME

(D) PERCENTAGE PROFIT TO

0

Z

TABLE 57 (continued)

5 to 9 10 to 14 15 to 19 20 to 24 25 to 29 30 and over

Under zero Zero to 4

PERCENTAGE PROFIT TO TOTAL CAPITAL

2.2 7.9 22.5 31.5 15.7 10.1 4.5 5.6

CESSIVE CLASSES

2.2 10.1 32.6 64.1 79.8 89.9 94.4 100.0

1924

EACH CLASS

PERCENTACE IN

ACCUMtJLATED BY SUC-

2.2 4.5

28.1 31.5 14.6 7.9

1.1 10.1

70.8 85.4 93.3 95.5 100.0

11.2 39.3

1.1

4.6

0.0 14.6 30.3 28.1 11.2 9.0 2.2

44.9 73.0 84.2 93.2 95.4 100.0

0.0 14.6

CLASSES

ACCtJMULATED BY SUCCESSIvE

1926

PERCENTAGE IN CLASSES EACH CLASS BY STJCCESSIVE

1923

PERCENTAGE IN EACH CLASS

ACCUMULATED

Li

96.7 98.9 100.0

92.1

34.8

12.4 4.6 2.2

0.0 15.7

44.9 79.7

1927

CESSIVE CLASSES

29.2

0.0 15.7

EACH CLASS

PERCENTAGE IN

ACCUMULATED BY SUC-

3.4

1.1

28.1 7.9 5.6

31.5

21.3

1.1

1.1

22.4 53.9 82.0 89.9 95.5 96.6 100.0

1928

ACCUMULATED PERCENT- BY SUCAGE IN CESSIVE EACH CLASS CLASSES

(o) FREQUENCY DISTRIBUTIONS OF PERCENTAGES OF TOTAL PROFIT TO TOTAL CAPITAL, INDIVIDUAL CORPORATIONS, 1924—28. MAJOR GROUP 14: RETAIL AND WHOLESALE TRADE

0,

-4

I•TJ

C

C',

ci

'I

rs