Release: NBER Macrohistory Database
This Index Was Computed By NBER From Original Data In Thousands Of Pounds Sterling Published In Bankers' Magazine. Additions To Or Subtractions From The Number Of Securities Included Have Been Made From Time To Time. Data From The Old And New Series Were Linked By The NBER And The Resultant Index Is Constructed Based Upon The 1913 Average. At The Points Of These Revisions In The Series The Value For The Given Date According To Both The Old And The New Data Were Available. By Multiplying Data From One Period By A Coefficient Equal To The Ratio Of The Old To The New, A Single Series Was Constructed, Including The Data From Both Original Sections. Consequently, The Various Sections Of Original Data Have Been Tied Together At Their Overlapping Points. July 30, 1914 Was The Day Of Closing For The Exchange. The Stock Exchange Was Closed For The Months Of September-December, 1914. Eight Shares Were Included For The Period 04/1887-12/1895. There Was A Change In The Number Of Securities Included (A Decrease Of One, From Eight To Seven) In 12/1906. In 12/1921, The Number Of Included Securities Increased From 7 To 9. An NBER Note Attributes The Decline In The Index After June, 1916 To Unusual Stock Market Fluctuations, The Abolition Of Minimum Rates, And An Increase In The Bank Rate. There Is No Figure For January, 1916 Because Of The Possibility That The Minimum Would Be Removed Before The End Of The Month. The Estimate For The January, 1915 Prices Is Based On Markings, The Official List, And Where The Securities Are Inactive, The July 27, 1914 Prices. The Valuation For August, 1921 Was Omitted Because Of Stagnation Of The Stock Exchange During The Height Of The Holiday Season. Source: Bankers' Magazine, London And Computed By NBER (See Note Below).
This NBER data series m11018 appears on the NBER website in Chapter 11 at http://www.nber.org/databases/macrohistory/contents/chapter11.html.
NBER Indicator: m11018
National Bureau of Economic Research, Security Price Index for London, Great Britain [M11018GB00LONM324NNBR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/M11018GB00LONM324NNBR, March 25, 2017.