1948
15.202.241.65.932.77%
87.9 6.3
9.210.9 %5.6 %3.96
2.111.2 %(^1953) 24.812.512.441.483.08%92.7 9.9
10.2
9.8 %5.5 %3.20
1.8
11.8 %
(^1958) 55.212.892.221.754.12%
100.418.4
17.6
5.8 %3.3 %1.41
.80
12.8 %
(^1963) 75.024.023.632.284.36%
105.018.6
20.7
4.8 %3.04%1.10
.70
10.5 %
1968
103.9
5.765.372.996.51%
108.718.0
19.5
5.15%2.87%.80
.44
11.5 %
1971
100
d 5.235.533.107.57%
114.319.2
18.1
5.53%3.11%.72
.41
11.5 %
TABLE 3-3 Data Relating to Standard & Poor’s Composite Index in V
arious Years
Ye a r
a
Closing priceEarned in current yearAverage earnings of last 3 yearsDividend in current yearHigh-grade bond interest
a
Wholesale-price indexRatios:
Price/last year’s earningsPrice/3-years’ earnings3-Years’ “earnings yield”
c
Dividend yieldStock-earnings yield/bond yieldDividend yield/bond yieldEarnings/book value
e
aYield on S & P AAA bonds.bCalendar years in 1948–1968, plus year ended June 1971.c“Earnings yield” means the earnings divided by the price, in %.dPrice in Oct. 1971, equivalent to 900 for the DJIA.eThree-year average figures.