"c VAR 0032 11005 P RR STK R 855-937 MD= 1E-37 " "c REF 0032 LOC 249 WIDTH 9 DK 4 COL 62-70 " "c EXP DEC= 2 " "c " "c AMERICAN RAILROAD STOCK PRICES " "c ------------------------------ " "c " "c NBER SERIES: 11005 " "c AREA COVERED: U.S. " "c UNITS: DOLLARS PER SHARE " "c ANNUAL COVERAGE: NONE " "c QUARTERLY COVERAGE: NONE " "c MONTHLY COVERAGE: 01/1855-07/1914, 12/1914-01/1937 " "c SEASONAL ADJUSTMENT: NONE " "c SOURCE: F.R. MACAULAY,"SOME THEORETICAL PROBLEMS SUGGESTED " "c BY THE MOVEMENTS OF INTEREST RATES, BOND YIELDS, AND STOCK " "c PRICES IN THE UNITED STATES SINCE 1856," (NBER 1938), " "c PP.A142-A161. " "c " "c NOTES: SERIES 11005 IS PRESENTED HERE AS THREE " "c VARIABLES--(1)--ORIGINAL DATA, 1855-1937 (2)--ORIGINAL DATA, " "c 1918-1957 (3)--ORIGINAL DATA, 1949-1964. " "c THE 1855 AND 1856 FIGURES ARE AN UNWEIGHTED ARITHMETIC " "c INDEX SPLICED ON TO THE WEIGHTED INDEX IN JANUARY, 1857. " "c THEY ARE NOT CONSIDERED RELIABLE BY NBER. " "c THE UNIT FOR THIS VARIABLE IS DOLLARS PER SHARE. THE " "c INDEX IS A CHAIN INDEX MADE UP OF 13 MONTH SEGMENTS CHAINED " "c TO THE SEGMENT 01/1926-01/1927. THE INDEX IS WEIGHTED " "c ACCORDING TO THE NUMBER OF SHARES OUTSTANDING EACH YEAR. " "c " "c CHECKED MANUALLY; CORRECTED 10/26/93. " "c " "c ............................................................... " -12 1855.01 1937.12 18.6400 20.3700 21.2200 22.0000 21.9100 22.5200 23.3700 22.9700 23.4600 22.5900 19.9000 21.2200 21.9300 20.8900 22.2800 22.1200 22.3500 22.1900 22.1200 21.5700 20.6800 20.6100 19.8000 21.2700 21.2200 20.8300 20.8200 20.4100 20.1000 18.8700 18.6100 17.7000 15.1400 12.8300 14.6500 15.2700 15.6900 17.1600 17.4500 16.5600 16.8200 16.1000 16.1700 15.9800 15.7800 16.2500 16.1600 15.8800 15.9300 15.7300 15.6600 15.2800 14.8000 14.9100 14.9800 15.1000 15.7000 15.4000 15.5700 15.4300 15.1100 15.2100 15.8500 16.6800 16.9700 17.2000 17.7300 18.8100 19.2800 18.6200 16.5700 15.4900 17.0900 17.0200 17.4100 16.0900 14.8600 15.0100 15.6300 15.3000 15.2700 15.8600 16.0600 15.5900 16.5400 17.1200 17.6500 17.5100 18.3400 19.2300 18.8000 19.4400 20.8300 22.8900 23.0800 23.5400 26.6000 27.5300 27.0400 27.3600 29.9600 29.0100 29.6900 31.7900 31.8300 32.6900 32.7800 32.4900 33.8600 35.4800 37.9900 38.6800 36.9900 37.6900 37.3400 37.6200 35.4200 33.1400 34.8800 34.5800 32.9300 32.1600 29.1700 28.7500 29.3900 28.8300 30.0700 29.7300 30.9500 31.8400 32.1200 31.6500 30.2000 29.4400 29.5400 30.0300 30.6500 31.0500 31.5900 32.8000 32.9500 33.9500 33.4500 32.7800 31.5100 31.2200 31.0100 30.3300 30.6800 31.7400 32.8800 33.0300 32.9800 32.9100 32.8100 33.2900 34.5000 35.3000 35.1200 34.9100 36.1200 36.7100 36.7200 36.3400 36.6600 37.2100 36.1600 36.8800 38.2300 38.5200 38.2300 38.8900 40.5900 40.9600 40.8700 41.4400 38.7500 38.4400 38.1600 37.5200 38.0700 39.2900 39.0500 39.6600 41.2200 41.5400 40.2700 39.5400 39.8900 40.0600 40.0600 39.6100 39.7000 40.1100 40.9700 42.0500 43.0000 42.6900 41.9100 42.1800 42.3800 40.2500 40.5800 41.3800 42.2900 42.5500 43.8700 45.2000 45.0300 44.5600 44.1900 43.5700 43.0300 42.9500 42.6800 43.8200 44.2500 44.7900 44.4200 43.6600 43.7300 43.3600 43.2100 42.9800 39.7400 36.4200 35.1100 38.2800 40.3600 41.4700 40.7300 39.6200 38.6000 38.2300 38.2900 38.5200 39.0900 38.9600 39.0500 39.1000 39.4100 39.2700 39.6400 40.0600 38.3300 37.6200 37.6500 37.8000 37.4200 36.9000 37.3800 37.3800 38.2900 38.8700 39.0200 37.4800 35.9300 35.6000 35.2200 33.6500 31.7100 31.3900 30.7200 30.5500 30.2900 28.3900 27.0500 25.0700 24.9900 23.5900 24.3900 25.9700 27.7000 28.4800 27.9700 27.8400 27.8400 27.2800 27.7500 28.6100 28.6200 29.3900 29.9100 29.5600 30.2000 29.9100 29.8000 29.6900 31.1500 32.3300 31.6600 32.6600 34.3300 34.8600 35.4600 35.9500 37.2500 41.1700 43.2800 43.4300 45.2600 46.2200 46.9700 46.3500 42.5900 42.6200 44.6100 46.5200 46.4900 48.1400 51.1200 53.6900 56.3800 55.7700 56.5100 56.2100 58.5100 59.0000 56.8000 55.7400 56.1200 55.2500 55.6100 54.0300 53.1200 51.8900 51.6400 51.6000 50.9800 50.6800 53.6800 55.3600 55.8600 54.4600 52.1800 52.5000 52.3500 51.0500 51.7300 52.9500 51.8800 52.3600 51.4000 49.1100 49.7200 48.4500 49.1000 48.1300 46.7400 48.0100 47.8500 46.0400 42.2600 39.2000 40.3100 42.7700 41.1700 39.8400 38.9300 38.9500 38.1200 39.1300 39.2900 39.2200 38.6300 38.3300 39.9800 42.1000 41.5500 43.8200 46.6100 46.4300 46.6400 47.3800 46.6000 45.9500 45.1000 47.1300 47.8400 48.3000 49.4500 50.8100 51.8800 50.7000 50.1100 49.7100 50.8500 52.2000 53.0600 51.7100 50.3800 49.0700 48.4300 46.5700 47.2600 47.1000 47.3200 46.9200 45.1600 45.3100 45.8800 44.1000 45.4000 46.0200 47.3200 46.8200 45.3900 44.5500 45.1900 45.5600 44.3100 44.0500 45.2100 45.7100 44.5400 45.6300 47.2000 46.7400 46.6800 46.4700 46.9300 46.4500 46.1400 47.1400 49.0300 48.6300 48.1400 46.9600 46.0700 43.9600 41.1100 40.4500 42.3200 42.7200 41.7600 43.3400 43.3000 42.3000 41.8100 43.5900 47.4500 47.4700 46.5000 48.0600 48.6200 48.5300 49.1400 48.8500 48.6800 48.2600 48.3200 48.6400 47.0800 47.9300 47.3900 46.8400 47.7000 46.7100 45.1200 45.4200 42.1400 40.1700 36.5800 35.8500 37.8500 38.4700 39.2200 38.0800 37.3100 37.8000 38.9000 39.2200 37.6300 36.9500 36.3300 37.6800 38.5300 37.3200 37.2200 36.7700 36.2600 35.7300 35.4500 36.9300 38.8600 39.7700 40.4200 41.0500 41.3800 40.8500 39.5000 37.1400 36.6200 38.1000 37.2900 37.6700 37.5100 37.0000 34.9000 33.0700 34.5400 35.2200 37.1800 36.1800 36.0900 35.6500 35.8100 34.6800 34.8400 36.4500 37.8500 40.3900 42.2100 41.1300 39.7300 40.7700 41.7200 41.5200 39.6300 38.7700 41.1600 42.6600 42.6700 44.4700 44.6500 43.7800 44.7300 47.2600 51.2500 53.2500 53.0700 53.8100 51.9000 51.1400 53.0800 54.3000 53.6900 53.4200 54.5200 51.7800 52.3000 53.4300 54.7700 55.7900 53.5700 52.2300 51.9500 52.4500 51.5300 53.2900 56.9000 61.0600 63.9300 66.0100 68.2900 74.3600 71.4700 78.3300 72.1700 73.9300 74.4400 74.8400 77.8600 76.7200 77.9400 78.5200 78.6200 81.6400 81.9500 82.2500 85.3200 87.9100 88.0100 85.1100 81.8900 80.2900 84.2300 82.7500 78.9800 75.5600 74.3500 70.3800 68.4300 66.4200 65.5000 64.0900 64.3500 66.8400 67.8500 65.8300 65.7500 67.4400 65.7400 66.0300 69.0800 71.4200 74.6400 78.9100 82.2500 83.5300 86.0500 90.3900 93.0100 91.5800 87.1300 88.7200 91.5300 95.4600 96.3000 97.3800 96.1800 96.9400 99.8400 99.4200 97.6100 96.2500 93.7800 95.5700 93.7800 100.850 103.950 102.910 102.460 101.570 98.1600 94.5000 85.0200 85.5800 82.8800 80.6700 83.7100 78.9700 79.0100 72.0800 67.8700 71.0300 73.7100 70.9300 72.9800 76.3700 80.7400 80.9300 83.1800 85.9500 85.4000 86.4100 91.7600 94.2800 95.5200 93.5500 94.9800 98.6300 100.810 102.210 103.880 105.830 105.290 105.010 103.100 104.450 102.590 99.4000 101.710 99.6600 98.3200 93.5600 88.9100 90.7900 91.2100 95.0000 94.1000 91.8300 94.2500 95.4300 94.4500 94.3400 95.9500 98.2300 98.1700 93.7100 89.0200 90.3700 93.8000 93.3700 93.2000 92.3100 94.1700 96.4600 95.7000 95.2500 95.2800 97.6500 97.6200 97.1000 96.4200 93.7800 93.2200 90.7500 88.9400 88.7600 86.2500 82.3100 83.3500 84.6400 84.9600 82.9400 81.0800 80.8800 83.3800 83.9900 81.6800 79.7700 80.2800 79.8500 75.7200 NA NA NA NA 72.1300 73.2300 71.9600 73.2500 77.1700 75.0900 74.5400 72.8400 75.0400 77.0000 81.1600 84.7000 84.0500 82.6300 80.7500 80.2900 79.7400 81.9500 83.2700 82.3800 81.7700 83.0300 85.1700 84.5300 82.9100 81.3200 77.0400 77.9900 77.1400 74.0000 74.9600 74.0300 72.9600 69.8800 66.8500 61.8000 59.7400 62.3700 63.1200 62.6300 61.3900 63.3700 63.7400 63.9600 65.5100 65.8900 68.6000 70.3200 67.5100 65.8400 65.8600 66.5400 66.7700 70.4100 70.5500 70.2600 65.7700 64.5200 65.2600 63.1800 60.4200 60.5900 58.1400 61.6400 59.4400 57.2900 56.8000 57.5800 59.5000 63.0900 65.8900 64.0000 58.1100 59.7700 59.0200 56.2500 55.1700 57.4300 53.9700 56.2500 57.2300 57.8600 56.9300 58.5400 58.6200 58.3600 60.3500 62.6500 65.8000 67.1100 66.4400 68.9900 72.3000 73.3000 73.2100 69.2400 67.6200 67.5600 69.7200 70.0400 68.9800 66.4700 65.8500 63.2400 62.8900 63.1700 62.6600 63.6200 63.5800 64.5200 65.0600 64.6000 65.4600 65.5800 67.4200 70.7100 72.5300 72.0300 71.2700 76.1500 80.1000 80.7900 80.9300 78.6300 76.4600 78.4900 78.8900 79.6800 82.3200 83.1700 84.3400 86.7800 90.5900 90.6600 89.0900 85.3300 85.8400 86.7500 90.2900 92.0900 94.6700 97.4900 94.5400 95.2400 97.0500 98.3600 102.610 103.690 106.140 108.470 110.220 112.100 113.470 115.390 115.150 114.230 116.580 114.790 111.840 115.660 120.490 122.410 116.520 114.850 116.570 119.600 118.420 124.370 124.910 130.530 128.950 128.540 126.900 128.400 133.560 146.610 152.760 154.420 135.680 122.200 125.020 124.180 130.530 131.340 128.760 122.540 115.090 115.010 111.950 109.980 101.770 93.3100 85.3800 90.6900 96.1200 89.8900 79.9200 70.5600 67.7800 69.2600 61.2500 51.4700 45.1800 41.0800 31.7800 32.0100 31.8600 29.4400 21.2700 15.5700 13.4600 15.8700 25.6700 31.2300 26.1600 24.3700 23.2600 25.1400 23.8100 23.7500 25.4600 34.6400 40.3600 45.9300 45.5600 42.9900 35.5000 35.4000 37.3400 41.6800 46.0500 44.3700 44.8700 40.3100 40.3200 35.9300 32.8200 32.0800 32.9500 32.5300 33.4700 32.3900 30.5500 26.7300 27.5400 29.0500 30.1000 31.7100 33.5200 34.1000 32.0000 35.6100 38.3600 41.3800 46.5900 45.5500 43.5100 42.0800 44.2600 47.5200 50.1000 51.3700 54.0600 53.0600 50.3100 51.4400 NA NA NA NA NA NA NA NA NA NA NA