The induction motor is widely used in the power equipments of the ship and the various industrial drive applications because it is robust and relatively simple and cheap to manufacture, but it has a disadvantage that the speed of induction motor is not controlled in wide range such as d.c motor. In this paper, the characteristics relating to the Kramer system that the speed of three phase wound type induction motor is controlled by changing the exciting e.m.f. of the secondary circuit is described. In order to analyze the characteristics, a new simplified and approximated T-type equivalent circuit from the Kramer circuit with three phase graetz connection and d.c machine is proposed. The stator current, motor torque and mechanical output power are computed by the current, torque and power equations derived by its equivalent circuit. Through the experiments, the $I_f-N$, torque-slip and current-slip characteristic curves of the tested motor are obtained and the various needed constants are determined. The numerical values obtained from the above method are compared with experimental values under the same conditions. As a result of the above investigation, it is found that the induction motor speed by the Kramer system is controlled by 28 per cent under the rated speed by changing the field current of d.c motor and the values computed by the current and torque equations derived by the simplified and approximated T-type equivalent circuit generally come to approach the experimental values.