COMMON-STOCK INDEXES
2nd edition
by
ALFRED COWLES 3RD AND ASSOCIATES
Principia Press, Inc.
Bloomington, Indiana
1939
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TABLE OF CONTENTS
Page 
Preliminary pages

INTRODUCTION
1  The Importance of Common Stocks 1 
2  Cowles Commission Indexes 2 
3  Period Covered 4 
4  Data Employed 5 
5  Selection of the Index-Number Formulas 11 
6  Construction of the Stock Price Indexes 17 
7  The Standard Statistics Company Formula 25 
8  Fisher's "Ideal" Formula 30 
9  Criticisms of Well-Known Indexes 33 
10  Some Important Facts Disclosed by the Indexes 40 


CHARTS

 51 


INDEXES
1  Series P — Stock Prices 65 
2  Series C — Stock Prices including Cash Dividends 167 
3  Series Y — Yield Expectations 269 
4  Series Ya — Yields 371 
5  Series Da — Dividend Payments 387 
6  Series R — Earnings-Price Ratios 403 
7  Series E — Earnings 419 


APPENDIXES
I  United States and Foreign Common-Stock Indexes 437 
II  Common Stocks Included in Cowles Commission Indexes 454 
III  Series PEa — Prices of Stocks for which Earnings Data Are Available 476 
IV  Series YEa — Yields of Stocks for which Earnings Data Are Available 484 
V  Index of Bond Interest 492 

General Index to Introduction and Appendix I
495