I wish to express my indebtedness to Morris Mendelson, with whom I have written a paper, “A Decade of Corporate Capital Formation: 1946–1955,” some of the material of which is contained in this article. David Meiselman and I worked on the derivation of much of the data included in this paper. Numerous people at the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, and the Department of Commerce rendered invaluable help to me at various times. John C. Dawson gave freely of his help and his data. Finally, my thanks to R. W. Goldsmith and E. Kuh for their suggestions.
This paper is a part of the Postwar Capital Market Study of the National Bureau of Economic Research but has not been subject to the bureau's usual review procedure and therefore is not to be regarded as a National Bureau publication.