Some year-end prices from the New York and American stock exchanges and
over-the-counter listings in the Business section Wednesday were wrong.
The incorrect prices are those that should have ended in 16ths or
32nds, such as 5/16 or 25/32. Here is how to determine the correct
numbers: All incorrect listings have the number 4 or 5 in them, such
as a listing of 143 or 525. But not all listings that have a 4 or 5 in
them are incorrect. To determine an incorrect listing, look at the
other prices listed for a particular stock. All of the numbers should
be relatively close together. If a stock's high for the year is
1 3/4 and the low is 1/4 but the last price is 47, the 47 is
incorrect. To determine the correct number, ignore the appropriate 4,
or the 5, that appears as the price. The number, or two numbers in
some cases, behind the 4 or 5 is the numerator of the fraction in which
the denominator is 16 or 32. Thus, a 47 is 7/16, a 413 is 13/16, a 143
is 1 3/16. Similarly, a 53 is 3/32, a 159 is 1 9/32, and a
557 is 5 7/32.
--Phoenix (Ariz.) Arizona Republic
[To which The New Yorker responded:
"Questions?".]
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