"c VAR 0036 11014 SPI RAIL R 887-935 MD= 1E-37 " "c REF 0036 LOC 285 WIDTH 9 DK 5 COL 35-43 " "c EXP DEC= 1 " "c " "c SECURITY PRICE INDEX, BRITISH RAILWAY COMMON SHARES, STOCK " "c EXCHANGE VALUE " "c ---------------------------------------------------------- " "c " "c NBER SERIES: 11014 " "c AREA COVERED: GREAT BRITAIN --LONDON " "c UNITS: 1913=100 " "c ANNUAL COVERAGE: NONE " "c QUARTERLY COVERAGE: NONE " "c MONTHLY COVERAGE: 04/1887, 07/1887-06/1888, " "c 09/1888-12/1890, ALL MONTHS EXCEPT AUGUST FOR THE YEARS " "c 1891-1894, 01/1895-12/1895, ALL MONTHS EXCEPT JULY FOR 1896, " "c 01/1897-12/1897, ALL MONTHS EXCEPT JULY FOR THE YEARS " "c 1898-1904, ALL MONTHS EXCEPT JUNE FOR THE YEARS 1905-1906, " "c 01/1907-08/1914, 01/1915-12/1915, 02/1916-07/1921, " "c 09/1921-03/1935. " "c SEASONAL ADJUSTMENT: NONE " "c SOURCE: BANKERS' MAGAZINE, LONDON AND COMPUTED BY NBER (SEE " "c NOTE BELOW). " "c " "c NOTES: THIS INDEX WAS COMPUTED BY NBER FROM ORIGINAL DATA " "c IN THOUSANDS OF POUNDS STERLING PUBLISHED IN BANKERS' " "c MAGAZINE. ADDITIONS TO OR SUBTRACTIONS FROM THE NUMBER OF " "c SECURITIES INCLUDED HAVE BEEN MADE FROM TIME TO TIME. DATA " "c FROM THE OLD AND NEW SERIES ARE LINKED BY THE NBER AND THE " "c RESULTANT INDEX IS CONSTRUCTED BASED UPON THE 1913 AVERAGE. " "c IN ORDER TO CONSTRUCT INDEXES COVERING THE ENTIRE PERIOD " "c THESE AGGREGATE TOTALS AS COMPUTED BY BANKERS' MAGAZINE HAVE " "c BEEN FURTHER TREATED BY THE NBER. AT THE POINTS OF THESE " "c REVISIONS IN THE SERIES THE VALUE FOR THE GIVEN DATE " "c ACCORDING TO BOTH THE OLD AND THE NEW DATA ARE AVAILABLE. " "c BY MULTIPLYING DATA FROM ONE PERIOD BY A COEFFICIENT " "c EQUAL TO THE RATIO OF THE OLD TO THE NEW, A SINGLE SERIES " "c CAN BE CONSTRUCTED, INCLUDING THE DATA FROM BOTH ORIGINAL " "c SECTIONS. CONSEQUENTLY, THE VARIOUS SECTIONS OF ORIGINAL " "c DATA HAVE BEEN TIED TOGETHER AT THEIR OVERLAPPING POINTS, " "c AND OUR "c EQUALING THE MONTHLY AVERAGE OF 1913. " "c THE FOLLOWING IS A SUMMARY OF THE TIME PERIODS, THE " "c NUMBER OF SHARES, OR SECURITIES INVOLVED, AND THE PAR VALUE, " "c IN THOUSANDS OF POUNDS. " "c 04/1887-12/1895, 19 SHARES, PAR VALUE OF 201,166; " "c 12/1895-12/1906, 19 SHARES, PAR VALUE OF 213,007; " "c 12/1906-12/1921, 26 SHARES, PAR VALUE OF 310,750; " "c 12/1921-12/1922, 28 SHARES, PAR VALUE OF 376,460; " "c 12/1922-1935, 13 SHARES, PAR VALUE OF 315,325. " "c JULY 30, 1914 WAS THE DAY OF CLOSING FOR THE EXCHANGE. " "c THE STOCK EXCHANGE WAS CLOSED FOR THE MONTHS OF " "c SEPTEMBER-DECEMBER, 1914. " "c "HAD OUR VALUATION BEEN PUBLISHED... THE ONE AND ONLY " "c FEATURE WOULD HAVE BEEN A SUBSTANTIAL IMPROVEMENT IN THE " "c ORDINAIRY STOCKS OF ENGLISH RAILWAYS. THIS IMPROVEMENT, " "c HOWEVER, HAS SINCE BEEN LOST AND THERE IS VERY LITTLE " "c MOVEMENT TO NOTE WHEN COMPARED WITH TWO MONTHS AGO." (NBER " "c NOTE REGARDING TO THE MISSING DATA FOR AUGUST, 1921) " "c " "c CHECKED MANUALLY; NO CORRECTIONS NECESSARY. " "c " "c ............................................................... " -12 1887.01 1935.12 NA NA NA 112.800 NA NA 112.500 111.900 110.300 110.300 111.900 118.400 119.200 116.900 117.700 117.900 118.000 119.200 NA NA 122.800 121.900 120.800 122.600 125.000 127.500 126.800 132.000 132.100 131.300 128.800 130.200 126.500 127.400 128.500 130.300 127.800 127.800 125.300 132.100 131.000 129.900 129.600 129.000 129.300 126.700 125.200 125.800 127.300 127.900 125.500 125.500 122.900 122.300 123.000 NA 123.600 122.700 123.300 125.100 126.100 124.500 123.000 123.300 123.900 125.300 122.800 NA 123.400 124.000 123.300 122.400 125.200 125.000 123.000 124.300 122.500 124.400 121.900 NA 119.000 119.300 119.500 119.200 119.400 123.100 122.900 123.600 125.200 125.900 131.200 NA 133.200 126.200 126.100 127.300 130.300 129.500 127.200 127.600 129.000 129.300 130.900 132.300 133.700 132.800 130.400 132.900 137.800 142.200 139.800 143.300 144.500 147.600 NA 149.800 144.300 142.300 146.100 146.500 149.100 146.400 146.500 147.100 152.100 150.900 151.500 149.600 149.200 150.700 151.600 152.100 153.100 152.000 147.900 146.100 146.000 148.900 NA 147.300 146.800 146.100 147.400 150.400 152.000 150.100 151.500 152.400 151.700 151.300 NA 149.100 148.200 147.400 149.200 144.100 145.400 143.800 142.200 141.100 138.900 138.100 NA 126.400 128.200 127.600 130.600 128.700 129.400 129.200 125.300 124.600 125.300 122.900 NA 120.800 119.000 117.300 117.800 117.900 122.300 121.000 120.800 121.500 122.700 124.700 NA 119.800 116.500 115.500 118.900 118.500 120.200 120.100 118.800 118.600 117.600 117.600 NA 115.600 113.200 113.300 110.600 109.000 111.600 108.300 106.500 112.500 115.500 113.900 NA 109.400 110.800 113.900 112.500 113.600 114.700 116.000 117.500 115.200 113.900 NA 112.400 111.300 113.700 113.900 117.900 116.100 117.700 115.500 113.600 112.900 111.700 NA 111.200 112.600 109.700 101.600 110.100 109.600 111.600 107.700 104.500 105.900 104.000 102.300 103.600 98.6000 99.5000 98.3000 102.200 104.100 105.800 102.800 100.300 101.300 100.800 102.600 99.7000 98.0000 99.6000 99.8000 100.200 99.3000 101.100 100.600 98.4000 101.800 102.400 101.100 101.400 102.900 100.200 98.4000 97.5000 100.100 101.100 101.700 102.300 102.500 103.500 103.300 103.400 101.900 101.500 103.200 102.100 103.900 105.900 109.500 108.800 113.200 111.600 110.100 109.600 104.400 101.100 102.900 104.000 105.700 104.600 103.800 103.700 104.500 102.700 101.900 100.600 102.100 102.700 100.300 102.200 101.400 102.300 102.200 100.400 102.100 103.000 98.9000 100.300 100.400 98.5000 97.4000 96.6000 98.0000 100.700 103.400 99.7000 98.8000 97.1000 97.1000 97.3000 92.3000 NA NA NA NA 91.8000 90.7000 87.9000 87.8000 87.2000 85.8000 81.6000 79.0000 78.2000 76.5000 77.4000 78.0000 NA 78.2000 76.9000 76.9000 78.1000 81.3000 82.4000 82.2000 78.5000 75.3000 74.3000 73.6000 74.3000 74.8000 73.8000 74.8000 73.1000 73.5000 74.6000 73.8000 71.4000 72.6000 71.7000 70.5000 72.2000 72.1000 67.7000 66.9000 68.3000 70.0000 72.1000 73.1000 71.8000 74.0000 74.4000 76.0000 76.9000 75.0000 71.0000 71.4000 72.1000 70.3000 69.5000 67.2000 69.0000 69.0000 67.1000 69.5000 73.7000 71.4000 67.8000 65.5000 64.5000 62.9000 63.9000 60.0000 59.5000 59.0000 59.3000 57.5000 59.4000 54.2000 56.4000 57.6000 59.1000 56.5000 56.6000 NA 56.3000 53.2000 53.7000 57.6000 62.1000 68.9000 72.2000 80.1000 83.5000 86.8000 87.6000 87.4000 84.3000 85.2000 87.5000 89.3000 89.9000 92.3000 95.0000 98.1000 96.9000 94.7000 91.9000 90.0000 92.0000 93.4000 90.9000 90.4000 89.0000 90.7000 89.7000 89.8000 89.6000 88.8000 86.2000 88.5000 86.9000 88.0000 89.9000 89.2000 89.9000 87.9000 81.2000 79.9000 76.3000 75.5000 71.7000 69.3000 67.3000 68.8000 68.6000 67.7000 70.5000 72.7000 66.8000 67.2000 69.7000 67.7000 65.7000 69.2000 68.3000 67.4000 69.0000 67.5000 70.7000 69.2000 68.9000 71.0000 70.4000 68.0000 65.4000 61.7000 63.3000 64.3000 64.2000 65.7000 67.6000 67.9000 65.9000 65.2000 63.5000 59.6000 53.9000 53.3000 51.9000 52.5000 51.6000 49.4000 53.7000 52.9000 50.8000 53.4000 53.7000 51.1000 48.9000 52.9000 56.1000 54.8000 52.7000 55.5000 57.1000 54.4000 52.4000 54.2000 51.1000 46.6000 46.4000 38.7000 40.2000 37.1000 37.5000 37.2000 36.7000 31.5000 31.5000 27.7000 23.3000 22.6000 22.7000 18.5000 17.4000 26.5000 27.0000 21.2000 21.0000 18.6000 20.6000 17.1000 14.5000 11.7000 11.7000 16.3000 18.6000 17.2000 16.8000 16.4000 17.5000 17.8000 18.1000 20.0000 20.3000 22.9000 26.1000 31.2000 34.4000 35.4000 33.6000 33.0000 35.8000 36.1000 38.1000 37.1000 36.4000 32.5000 33.3000 31.4000 31.2000 31.9000 32.5000 31.4000 30.8000 30.0000 29.8000 NA NA NA NA NA NA NA NA NA