"c VAR 0022 11024 PI STOCK R 898-939 MD= 1E-37 " "c REF 0022 LOC 159 WIDTH 9 DK 3 COL 35-43 " "c " "c " "c INDEX OF STOCK PRICES " "c --------------------- " "c " "c NBER SERIES: 11024 " "c AREA COVERED: FRANCE " "c UNITS: 1913=100 " "c ANNUAL COVERAGE: NONE " "c QUARTERLY COVERAGE: NONE " "c MONTHLY COVERAGE: JANUARY, APRIL, JULY, AND OCTOBER, 1898, " "c 01/1899-07/1914, 01/1919-12/1939 " "c SEASONAL ADJUSTMENT: NONE " "c SOURCE: 1890-1914 DATA ARE FROM SOCIETE DE STATISTIQUE DE " "c PARIS, JOURNAL, FEBRUARY, 1929, PP.80-83; 1919-1931 DATA ARE " "c FROM INDICES GENERAUX DU MOUVEMENT ECONOMIQUE EN FRANCE DE " "c 1901 A 1931; 1932-1939 DATA ARE FROM BULLETIN DE LA " "c STATISTIQUE GENERALE. " "c " "c NOTES: THIS SERIES MAY BE COMPARED WITH THE ANNUAL INDEX " "c GIVEN IN THE MAY, 1928 ISSUE OF THE JOURNAL (DESSINER) FOR " "c 54 SECURITIES. SINCE THE MOVEMENT WAS VERY SIMILAR, THIS " "c SERIES WAS ADJUSTED SLIGHTLY TO HAVE ITS ANNUAL AVERAGES THE " "c SAME AS THOSE OF THE ANNUAL SERIES. THIS INDEX WAS FELT TO " "c BE SUPERIOR SINCE IT COVERED A LARGER NUMBER OF SECURITIES. " "c 1. FROM QUOTATIONS NEAR THE END OF EACH MONTH: " "c A. JANUARY, APRIL, JULY, AND OCTOBER 1898 AND " "c MONTHLY FROM JANUARY, 1898-JULY, 1900 THE FOLLOWING STOCKS " "c WERE USED: BANQUE DE FRANCE, BANQUE DE PARIS, BANQUE " "c TRANSATLANTIQUE, ACIENES DU NORD ET DE L'EST, CAMPAIGNE " "c FRANCAISE DES METAUX, CHANTIERS DE LA LOIRE, THOMSON " "c HOUSTON, DYNAMITE CENTRALE, LYON, NORD, COMPAGNIE GENERALE " "c TRANSATLANTIQUE, GAZ POUR LA FRANCE ET L'ETRANGER, COMPAGNIE " "c GENERALE DES EAUX, COMPAGNIE PARISIENNE DU GAZ, PRINTEMPS, " "c ENTREPOTS ET MAGAZINS GENERAUX DE PARIS, SUEZ. THE GENERAL " "c INDEX WAS COMPUTED ON THE BASE DECEMBER, 1899=100. " "c B. FOR JULY, 1900-DECEMBER, 1901 THE MEAN OF THE " "c INDEXES IS OF THE FOLLOWING GROUPS, ON THE BASE JANUARY 1, " "c 1900=100 (SEE REFORME ECONOMIQUE): FRENCH CREDIT " "c ESTABLISHMENTS (7 SECURITIES); FRENCH RAILWAYS (6 " "c SECURITIES); METALLURGY AND MINES (16 SECURITIES); " "c TRANSPORTATION (10 SECURITIES); MISCELLANEOUS (7 " "c SECURITIES); FIRE INSURANCE (5 SECURITIES); COAL (30 " "c SECURITIES). " "c C. DECEMBER, 1901-DECEMBER, 1905 ARE AFTER PRICE " "c QUOTED AND ARE ARITHMETIC MEAN OF INDEXES (ON THE BASE JUNE, " "c 1903=100) OF 23 SECURITIES (THE 25 QUOTED FOR THE PERIOD " "c 1909-1914 LESS LENS AND DOUYES). " "c D. DECEMBER, 1905-DECEMBER, 1908 (ON BASE " "c 1908=100), 41 SECURITIES ARE USED. THESE INCLUDE THE 25 " "c USED FOR 1909-1914 (SEE BELOW) AND CREDIT LYONNAIS, COMPTOIR " "c D'ESCOMPTE, BETHUNE, COMMENTRY--FOUR CHAMBAULT, " "c CONSTRUCTIONS MECANIQUES, ELECTRO METALLURGIE DE DRIVES, " "c CHANTIERS DE LA DE LA GIRONDE, PHOSPHATES DE GAFSA, ORLEANS, " "c MIDI, MESSAGRIES MAORTIMES, COMPAGNIE FRANCAISE ET " "c CONTINENTALE D'ECLAIRAGE, FORCES MOTRICES DU RHONE, " "c ENTREPOTS ET MAGAZINS GENERAUX DE PARIS, PRINTEMPS, GRANDE " "c MOULIRS DE CORBEIL. " "c E. DECEMBER, 1908-1914, 25 SECURITIES (ON THE " "c BASE 1908=100). BANQUE DE PARIS, BANQUE DE FRANCE, LENS, " "c DOURGES, ACIERIES DE LA MARIUE, CHATILLON--COMMENTARY, " "c ACIERIES DU NORD ET DE L'EST, FIVES--LILLE, TREFILERIES DU " "c HAVRE, COMPAGNIE FRANCAIS DES METAUX, CHANTIERS DE LA LOIRE, " "c THOMSON--HOUSTON, DYNAMITE CENTRALE, LYON, NORD, COMPAGNIE " "c GENERALE TRANSATLANTIQUE, UNION DES GAZ, GAZ ET EAUX, " "c ECLAIRAGE ET FORCE PAR L'ELECTRICITE, SECTEUR DE CLICHY, " "c COMPAGNIE GENERALE D'ELECTRICITE, GRAND HOTEL, SAY, BOLEO, " "c SUEZ. " "c "LES MOUVEMENTS SAISONNIERE SONT APPARUS NETTEMENT " "c DESSINES, QUOIQUE PEU IMPORTANT, ET VOICI LS RESULTATS DE CE " "c CALCUL. " "c ....QUE NOUS INDIQUENS COMME NETTEMENT DESSINES DES " "c VARIATIONS SAISONNIERE POURTANT ASSEZ FAIBLES." SOURCE, " "c P.59. " "c FOR 1919-1925, THE OLD INDEX WAS USED. FOR 1926-1929, " "c A REVISION OF THE INDEX, FIRST COMPUTED IN JANUARY, 1922, " "c BASED UPON 194 SECURITIES IN 25 GROUPS, WITH EACH SECURITY " "c GIVEN THE WEIGHT OF 100 FRANCS IN THE BASE PERIOD 1901-1910. " "c THIS GAVE RISE TO CERTAIN DIFFICULTIES, BECAUSE AS ONE MOVES " "c AWAY FROM THE BASE PERIOD, DIFFERENT STOCKS BEGIN TO BE " "c WEIGHTED VERY DIFFERENTLY (AND NOT NECESARILY JUSTIFIABLY). " "c WHAT WAS DONE THEN, WAS TO COMPUTE FOR EACH SECURITY " "c ITS VALUE IN JANUARY, 1926 WHEN REFERRED TO A BASE WHOSE " "c BASE WAS ITS AVERAGE VALUE IN 1925. THESE WERE THEN " "c AVERAGED TOGETHER, SO THAT EACH SECURITY WAS WEIGHTED " "c EQUALLY IN 1925, AND THE WHOLE GROUP THEN REFERRED BACK TO " "c 1913. THE EARLIER INDEX (FROM 1919-1925) WAS KEPT THE SAME " "c EXCEPT THAT IT WAS CONVERTED FROM THE BASE 1901-1910 TO " "c 1913. BUT JANUARY, 1926 OF THE NEW INDEX (FROM 1919-1925) " "c WAS MADE EQUAL TO THE OLD INDEX (211) AND AFTER JANUARY, " "c 1926, THE SERIES REFERRED TO 288 SECURITIES IN 20 GROUPS. " "c THE GROUPS AND THE NUMBER OF SECURITIES INCLUDED IN " "c EACH GROUP ARE AS FOLLOWS: BANKS (13); TEXTILE INDUSTRIES " "c (13); INSURANCE COMPANIES (15); RAILROADS, GREAT SYSTEMS " "c (10); COAL MINES OF THE CENTER (7); RAILROADS, MISCELLANEOUS " "c AND URBAN TRANSPORT--FRANCE, ALGERIA, AND TUNIS (14); COAL " "c MINES OF THE NORTH (11); MISCELLANEOUS MINES--FRANCE, " "c ALGERIA, AND TUNIS (9); TRANSPORTATION--WATER (9); IRON AND " "c STEEL WORKS (13); GAS (12); METAL WORKS, MECHANICAL AND " "c ELECTRICAL CONSTRUCTION (24); ELECTRICITY (23); DIVERSE " "c INDUSTRIES (22); SHIPBUILDING (7); MISCELLANEOUS TRADING " "c (16); BULIDING MATERIALS (11); COLONIAL COMPANIES (25); " "c CHEMICAL PRODUCTS (16); FRENCH COMPANIES OPERATING ABROAD " "c (18). " "c THE OLD INDEX CONSISTED OF THESE GROUPS AND NUMBER OF " "c SECURITIES THEIR RESPECTIVE NUMBERS OF SECURITIES: BANKS AND " "c CREDIT INSTITUTIONS (13); MISCELLANEOUS FRENCH AND COLONIAL " "c RAILROADS (10); COAL MINES OF THE LOIRE AND CENTER (5); " "c URBAN TRANSPORT (6); NAVIGATION (6); DOCKS AND PIERS (3); " "c COAL MINES OF THE NORTH (10); IRON AND STEEL WORKS (10); " "c METAL MINES (4); SUEZ CANAL (1); METALS (4); MECHANICAL " "c CONSTRUCTION (5); GAS (12); SHIPBUILDING (5); WATER (4); " "c ELECTRICITY (26); MATERIALS AND MISCELLANEOUS"ONTILLAGES" " "c (4); FOODSTUFFS AND MINERAL WATERS (13); CHEMICAL " "c PRODUCTS--SALTS AND PHOSPHATES (11); BUILDING MATERIALS (5); " "c PRINTING (4); DEPARTMENT STORES (4); FOREIGN RAILROADS (8); " "c TEXTILES (2); FRENCH RAILROADS, MAJOR SYSTEMS (5). " "c THESE HAVE BEEN CORRECTED FOR CHANGES IN CAPITALIZATION " "c AND DISTRIBUTION OF RESERVES. " "c SEE BULLETIN, JANUARY, 1932, P.243 AND FOLLOWING, FOR " "c 1932 REVISIONS. THE METHOD AND BASE REMAINED THE SAME, BUT " "c IN 1929, THE NUMBER OF SECURITIES CHANGED FROM 288 IN 20 " "c GROUPS TO 300 IN 22 GROUPS. THE NEW GROUPS AND THE " "c RESPECTIVE NUMBER OF SECURITIES IN EACH GROUP IS AS FOLLOWS: " "c BANQUES (20); RAILROADS, MISCELLANEOUS AND URBAN (13); " "c ASSURANCES (15); HAUILLERES DU CENTRE (8); NAVIGATION (9); " "c HAUILLERES DU NORD (11); GAS (12); MISCELLANEOUS MINING (8); " "c ELECTRICITY (21); IRON AND STEEL (13); FOOD--ALIMENTATION " "c (14); MECHANICAL CONSTRUCTION(24); LARGE WAREHOUSES--GRANDS " "c MAGASINS (8); SHIPBUILDING (6); BUILDING MATERIALS (13); " "c MISCELLANEOUS INDUSTRIES (16); CHEMICAL PRODUCTS (16); " "c MISCELLANEOUS TRADING (12); TEXTILE INDUSTRY (16); COLONIAL " "c COMPANIES (20); RAILROADS, LARGE SYSTEMS (10); FRENCH " "c COMPANIES OPERATING ABROAD(15). " "c " "c CHECKED MANUALLY; CORRECTED 10/26/93. " "c " "c ............................................................... "