ABSTRACT

APPENDIX m : Main Fields of Investment (Continued) Real estate and improvements, corporate securities, and government securities 1922 (Continued)

Value in billions

15 Government securities held by non-financial corporations8 $ 2.7 16 Total Investment in Government securities by individuals9 (14-15)

* * * * * * * * * * $ 27.2 17 Total investment opportunity ( 8 , 11 and 16) $245.0 18 Ratio of Real Estate to Total investment opportunity (8÷17)

46.0% 19 Ratio of Corporate to Total investment opportunity (1÷7)

43.0% 20 Ratio of Government to Total investment opportunity (16÷7)

11.0%