Cornell university Library HF5716.C6B6 3iiP 3 1924 013 825 603 — Cotton « ^mt (foUegB of Agriculture atljata, ^. M. Htbrarg Cornell University Library The original of tiiis book is in tine Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924013825603 COTTON EXPORTERS' COMPENDIUM OF USEFUL TABLES FORMULAE AND PROCESSES Compiled principally to shorten C.I.F. and 6% calculations, and also presenting other interesting matter BY E. A. Beveridge, M. A. HOUSTON, TEXAS 1917 Copyrighted by E. A. Beveridge HOUSTON, TEXAS 1917 DEALY-ADEY-ELGIN CO. Printers and Book Binders Houston, Texas PREFACE, In preparing this book, containing many valuable Tables and Formulae, I have endeavored to simplify the problems of the cotton exporter by making it possible for him to make his calculations quickly and with the least possible chance of error. For accuracy, I originally built the Tables and Formulae on mathematical principles; having reduced these to simpler forms, the results as herewith presented are entirely practicable. The chief table is Table "A" which transforms any for- eign GIF and 6% price into its American CF equivalent and vice versa, by a quick and accurate method. It should prove very handy, whether used by itself, as I expect it will be, or used as a check on one's own calculations, as a single operation will change the one price into the other. If, however, the exporter should not avail himself of Table "A," then he will find Table "D" and the 31 formulae given for finding the loss in exchange and the cost of insurance just what he wants for quick reference or for quick and accurate calculation of these. The other matter contained herein will also be found of interest and value to the exporter, especially that part which gives a method of protecting him against losses in the case of call sales, under the conditions mentioned, losses that are quite often unsuspected but are very real. During these wild fluctuations in the market, this point is very important and I particularly wish to bring it to the reader's attention. To the best of my knowledge and belief, no book has been published on these subjects that covers so wide a scope, and if it serves to help the exporter in any way, its mission will have been fulfilled. Though great care has been exercised in preparing the book, yet it is possible that some errors may have inad- vertently crept in; I would therefore appreciate having such errors called to my attention. E. A. Beveridge, Houston, Texas. August, 1917. TABLE A C.I.F. AND 6% KEY NUMBERS. Table A, from pages 8 to 27, provides a quick and accurate method of con- verting C.I.F. and 6% (Cost, Insurance, Freight and 6%) prices, expressed in pence per pound, francs per 50 kilos, or pfennigs per half kilo, into C. & F. (Cost and Freight) prices, expressed in cents per pound, and vice versa. From examina- tion of the table it will be seen that it covers a very wide range of Exchange rates and also provides for Insurance rates as high as 19%%. As these can be used in conjunction with any price whatever, either in pence, francs or pfennigs, the table should be found very serviceable. HOW TO USE THE TABLE. To get the American price, MULTIPLY the pence price by the proper key number. To get the pence price, DIVIDE the American price by the proper key number. For francs and marks prices, see instructions at the foot of this page. HOW TO FIND THE KEY NUMBER. Add the war risk and marine percentage rates together. From the key numbers in the column headed by this total rate, select the key number that is opposite the rate of Exchange that is to be considered in the calculation. EXCHANGE RATE COLUMNS. It will be seen that there are five columns of Exchange rates: Column 3 is to be used when both the price and reimbursement are in Sterling; Column 4 is to be used when the price is in pence, to be converted at 25.20 francs, and the reimbursement is in Francs; Column 5 is to be used when the price is in pence, to be converted at 20.40 marks, and the reimbursement is in Marks; Column 2 is to be used when both the price and reimbursement are in 'francs; in this case, however, the francs price must be multiplied by 9 as well as by the key number; and when changing cents into francs, the cents price must be divided by 9 as well as by the key number. Column 1 is to be used when both the price and reimbursement are in marks; in this case, however, the marks price must be multiplied by 11 as well as by the key number; and when changing cents into marks, the cents price must be divided by 11 as well as by the key number. TABLE A C.I.F. AND 6% KEY NUMBERS — Continued. The following table gives in detail the exact operation of each of the ten pos- sible conversions: PENCE TO CENTS, STERLING Exchange, use column 3 and MULTIPLY by key number. PENCE TO CENTS, FRANCS Exchange, at 25.20, use column 4 and MULTIPLY by key number. PENCE TO CENTS, MARKS Exchange, at 20.40, use column 5 and MULTIPLY by key number. FRANCS TO^ CENTS, FRANCS Exchange, use column 2 and MULTIPLY by the key number, then by 9. PFENNIGS TO CENTS, MARKS Exchange, use column 1 and MULTIPLY by the key number, then by 11. CENTS TO PENCE, STEHLING Exchange, use column 3 and DIVIDE by key number. CENTS TO PENCE, FRANCS Exchange, at 25.20, use column 4 and DIVIDE by key number. CENTS TO PENCE, MARKS Exchange, at 20.40, use column 5 and DIVIDE by key number. CENTS TO FRANCS, FRANCS Exchange, use column 2 and DIVIDE by key number, then by 9. CENTS TO MARKS, MARKS Exchange, use column 1 and DIVIDE by key num- ber, then by 11. The table is based on the assumption that the freight is prepaid, that both the war and marine insurance amounts are 10% over the invoice amounts, and that the insurance premiums are converted into dollars and cents at exchange rates that are 1% over the rates of exchange in the calculation. These assumptions conform to actual practices at present. When key numbers for half and quarter exchange rates and for split insurance rates are wanted, these can readily be arrived at by interpolation, as for example, the key number corresponding to 1% and 471% exchange is 1826, and that cor- responding to 1%% and 471% exchange is 1826, less 2, that is 1824. Along with the insurance rates may be included such percentage charges as exchange on New York or local exchange. Even seller's commission, when ex- pressed in a percentage, may be included. In this case, however, 2% commission should be considered as l%7c, 1%% should be considered 1%%, and 1% only %%. The reason of this is that the tables are made T5n the basis of and include 10% additional insurance, and this 10% additional does not apply to the com- mission. If the rate of conversion from pence to francs be 25.25, use the table on page 30 to get the Sterling rate that is equivalent to the franc rate in the calculation, and then find the key number corresponding to this Sterling rate from Table A. If the rate of conversion from pence to marks be 20.45, use the table on page 31 to get the Sterling rate that is equivalent to the marks rate in the calculation, then find the key number corresponding to this Sterling rate from Table A. TABLE A C.I.F. AND 6% KEY NUMBERS— Continued. EXAMPLES. (1) If the price Is 18.53d, Exchange 4.69 and the combined insurance rates 13%%, the key number is 1556 and the C.F. price is obtained by multiplying 1853 by 1556, that is 28.83c. If freight rate is 7c per lb., then price f. o. b. shipping port is 21.83c. Use column 3 in this calculation. (2) If the price is 17.69d, to be converted at 25.20, Exchange 574 francs, insurance totaling 15%l%, then key number 1428 multiplied by 1769 gives C.F. price of 25.26c. Use column 4 in this calculation. (3) If the price of 10.32d is converted at 20.40, Exchange at 80.00c, insurance totaling 6%, then the key number 1491 multiplied by 1032 gives C.F. price of 15.39c. Use column 5 in this calculation. (4) If the price is 225 francs. Exchange 580 francs, insurance and exchange on draft totaling 12(%%, 225 multiplied by key number 1406, then by 9, gives the result of 28.47c C.F. Use column 2 in this calculation. (5) If the price is 182 pfennigs. Exchange 94c, insurance rates 10%'%, then 182 multiplied by key number 1609, then by 11, gives the result of 32.21c, cost and freight. Use column 1 in this calculation. (6) If the price is 21.23c cost and freight. Exchange 4.70, percentage charges 8%,, dividing 21.23 by the key number 1677, gives pence price, 12.66d, C.I.F. and 6%. Use column 3 in this calculation. (7) If the price is 21.23c C.F., Exchange 578 francs, converted at 25.20, insurance 8%), dividing 21.23c by key number 1556 gives C.I.F. and 6% price of 13.64d. Use column 4 in this calculation. (8) If the price is 21.23c C.F., Exchange 94%c, conversion at 20.40, insurance 8%, dividing 21.23 by the key number 1713 gives the C.I.F. and 6% pric6 of 12.39d. Use column 5 in this calculation. (9) If the price is 21.23c C.F., Exchange 570!%, insurance 8%, dividing 21.23c by the key number 1513, then by 9, gives the result 155.91 francs C.I.F. and 6%'. Use column 2 in this calculation. (10) If the price is 21.23c C.P., Exchange 95c, insurance 8%, divide 21.23c by the key number 1677, then by 11, and the result will be 115.09 marks C.I.F. and 6%. Use column 1 in this calculation. It should be understood that the C. F. cent prices arrived at or started with in any conversion of prices are based on gross COMPRESSED WEIGHTS, not flat weights. TABLE A— Key Numbers 0% X% X% %% 1 MARKS 2 FCS. 3 STG, STG, AT 25,20 5 STG. AT 20,40 1% l>i% IX % 1%% 1567 1562 1558 1554 80.85 604.7 400 630.0 78.43 1549 1545 1541 1536 1571 1566 1562 1557 81.05 603.2 401 628.4 78.63 1553 1549 1544 1540 1574 1570 1566 1561 81.28 601.7 402 626.9 78.82 1557 1553 1548 1544 1578 1574 1570 1565 81.46 600.2 403 625.3 79.02 1561 1565 1569 1556 1560 1564 1552 1556 1560 1548 1582 1578 1574 1569 81.66 598.7 404 623.8 79.22 1552 1586 1582 1577 1573 81.86 597.2 405 622.2 79.41 1555 1590 1586 1581 1577 82.07 595.7 406 620.7 79.61 1572 1568 1564 1559 1594 1590 1585 1581 82.27 594.3 407 619.2 79.80 1576 1572 1567 1563 1598 1594 1589 1585 82.47 592.8 408 617.7 616.1 80.00 1580 1576 1571 1567 1602 1597 1593 1589 82.67 591.4 409 80.20 1584 1580 1575 1571 1606 1601 1597 1592 82.87 589.9 410 614.6 80.39 1588 1583 1579 1575 1610 1605 1601 1596 83.07 588.5 411 613.1 80.59 1592 1587 1583 1578 1614 1609 1605 1600 83.28 587.1 412 611.7 80.79 1596 1591 1587 1582 1618 1613 1609 1604 83.48 585.6 413 610.2 80.98 1600 1595 1591 1586 1621 1617 1612 1608 83.68 584.2 414 608.7 81.18 1B03 1599 1594 1590 1625 1621 1616 1612 83.88 582.8 415 607.2 81.37 1607 1603 1598 1594 .1629 1625 1620 1616 84.09 581.4 416 605.8 81.57 1611 1615 1607 1610 1602 1606 1598 1633 1629 1624 1620 84.29 580.0 417 604.3 81.77 1601 1637 1633 1628 1623 84.49 578.6 418 602.9 81.96 1619 1614 1610 1605 1641 1636 1632 1627 84.69 577.2 419 601.4 82.16 1623 1618 1614 1609 1645 1640 1636 1631 84.89 575.9 420 600.0 82.35 1627 1622 1618 1613 1649 1644 1640 1635 85.10 574.5 421 598.6 82.55 1631 1626 1621 1617 1653 1648 1644 1639 85.30 573.1 422 597.1 82.74 1634 1630 1625 1621 1657 1652 1647 1643 85.50 571.8 423 595.7 82.94 1638 1634 1629 1625 1661 1656 1651 1647 85.70 570.5 424 594.3 83.14 1642 1638 1633 1628 1665 1660 1655 1651 85.91 569.1 425 592.9 83.33 83.53 1646 1641 1637 1632 1668 1664 1659 1655 86.11 567.8 426 591.5 1650 1645 1641 1636 1672 1668 1663 1658 86.31 566.4 427 590.2 83.73 1654 1649 1645 1640 1676 1672 1667 1662 86.51 565.1 428 588.8 83.92 1658 1653 1648 1644 1680 1676 1671 1666 86.71 563.8 429 587.4 84.12 1662 1657 1652 1648 1684 1679 1675 1670 86.92 562.5 430 586.0 84.31 1665 1661 1656 1651 1688 1683 1679 1674 87.12 561.2 431 584.7 84.51 1669 1665 1660 1655 1692 1687 1683 1678 87.32 559.9 432 583.3 84.71 1673 1668 1664 1659 1696 1691 1686 1682 87.52 558.6 433 582.0 84.90 1677 1672 1668 1663 1700 1695 1699 1690 1694 1686 1689 87.72 557.3 434 580.6 85.10 1681 1676 1671 1667 1704 87.93 556.0 435 579.3 85.29 1685 1680 1675 1671 1708 1703 1698 1693 88.13 554.7 436 578.0 85.49 1689. 1684 1679 1674 1712 1707 1702 1697 88.33 553.5 437 576.7 85.69 1693 1688 1683 1678 1715 1711 1706 1701 88.53 552.2 438 575.3 85.88 1696 1692 1687 1682 1719 1715 1710 1705 88.73 550.9 439 574.0 86.08 1700 1695 1691 1686 1723 1718 1714 1709 88.94 549.7 440 572.7 86.27 1704 1699 1695 ,1690 1727 1722 1718 1713 89.14 548.4 441 571.4 86.47 1708 1703 1698 1694 1731 1726 1722 1717 89.34 547.2 442 570.1 86.67 1712 1707 1702 1697 1735 1730 1725 1721 89.54 546.0 443 568.8 86.88 1716 1711 1706 1701 1739 1734 1729 1724 89.74 544.7 444 567.6 87.06 1720 1715 1710 1705 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A— Key Numbers 0% K% X% %% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STii. AT 20.40 1% l>i% IX % IX% 1743 1738 1733 1728 89.95 543.5 445 566.3 87.25 1724 1719 1714 1709 1747 1742 1746 1737 1741 1732 1736 90.15 542.3 446 565.0 87.45 1727 1723 1718 1713 1751 90.35 541.1 447 563.8 87.65 1731 1726 1722 1717 1755 1750 1745 1740 90.55 539.9 448 562.5 87.84 1735 1730 1725 1721 1759 1754 1749 1744 90.76 538.7 449 561.3 88.04 1739 1734 1729 1724 1762 1758 1753 1748 90.96 537.5 450 560.0 88.23 1743 1738 1733 1728 1766 1761 1757 1752 91.16 536.3 451 558.8 88.43 1747 1742 1737 173.2 1770 1765 1760 1756 91.36 535.1 452 557.5 88.63 1751 1746 1741 1736 1774 1769 1764 1759 91.56 533.9 453 556.3 88.82 1755 1750 1745 1740 1778 1773 1768 1763 91.77 532.7 454 555.1 89.02 1758 1753 1749 1744 1782 1777 1772 1767 91.97 531.6 455 553.8 89.22 1762 1757 1752 1747 1786 1781 1776 1771 92.17 530.4 456 552.6 89.41 1766 1761 1756 1751 1790 1785 1780 1775 92.37 529.2 457 551.4 89.61 1770 1765 1760 1755 1794 1789 1784 1779 92.58 528.1 458 550.2 89.80 1774 1769 1764 1759 1798 1793 1788 1783 92.78 526.9 459 549.0 90.00 1778 1773 1768 1763 1802 1797 1792 1787 92.98 525.8 460 547.8 90.20 1782 1777 1772 1767 1806 1801 1796 1790 93.18 524.7 461 546.6 90.39 1786 1780 1775 1770 1809 1804 1799 1794 93.38 523.6 462 545.4 90.59 1789 1784 1779 1774 1813 1808 1803 1798 93.59 522.5 463 544.3 90.78 1793 1788 1783 1778 1817 1812 1807 1802 93.79 521.3 464 543.1 90.98 1797 1801 1792 1796 1787 1791 1782 1821 1816 1811 1806 93.99 520.2 465 541.9 91.18 1786 1825 1820 1815 1810 94.19 519.1 466 540.8 91.37 1805 1800 1795 1790 1829 1824 1819 1814 94.40 518.0 467 539.6 91.57 1809 1804 1799 1793 1833 1828 1823 1818 94.60 516.9 468 538.5 91.77 1813 1808 1802 1797 1837 1832 1827 1822 94.80 515.7 469 537.3 91.96 1817 1811 1806 1801 1841 1836 1831 1825 95.00 514.6 470 536.2 92.16 1820 1815 1810 1805 1845 1840 1834 1829 95.20 513.5 471 535.0 92.35 1824 1819 1814 1809 1849 1843 1838 1833 95.40 512.4 472 533.9 92.55 1828 1832 1836 1823 1827 1831 1818 1822 1826 1813 1853 1847 1842 1837 95.61 511.3 473 532.8 92.74 1817 1856 1851 1846 1841 95.81 510.3 474 531.7 92.94 1820 1860 1855 1850 1845 96.01 509.2 475 530.5 93.14 1840 1844 1835 1838 1829 1833 1824 1864 1859 1854 1849 96.21 508.1 476 529.4 93.33 1828 1868 1863 1858 1853 96.42 507.1 477 528.3 93.53 1847 1842 1837 1832 1872 1867 1862 1857 96.62 506.0 478 527.2 93.73 1851 1846 1841 1836 1876 1871 1875 1866 1870 1860 1864 96.82 504.9 479 526.1 93.92 1855 1850 1845 1840 1880 97.02 503.9 480 525.0 94.12 1859- 1854 1849 1843 1884 1879 1873 1868 97.22 502.8 481 523.9 94.31 1863 1858 1853 1847 1888 1883 1886 1877 1881 1872 1876 97.43 501.8 482 522.8 94.51 1867 1862 1856 1851 1892 97.63 500.8 483 521.7 94.71 1871 1865 1860 1855 1896 1890 1885 1880 97.83 499.7 484 520.7 94.90 1875 1869 1864 1859 1900 1894 1889 1884 98.03 498.7 485 519.6 95.10 1878 1873 1868 1863 1903 1898 1893 1888 98.24 497.7 486 518.5 95.30 1882 1877 1872 1866 1907 1902 1897 1891 98.44 496.6 487 517.5 95.49 1886 1890 1881 1885 1876 1879 1870 1911 1906 1901 1895 98.64 495.6 488 516.4 95.69 1874 1915 1910 1905 1899 98.84 494.6 489 515.3 95.88 1894 1889 1883 1878 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. 10 TABLE A— Key Numbers 2% 1%% 2X% 25i% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. AT 20.40 3% 3Ji% 3X% i%% 1532 1527 1523 1519 80.85 604.7 400 630.0 78.43 1514 1510 1506 1501 1536 1531 1527 1523 81.05 603.2 401 628.4 78.63 1518 1514 1509 1505 1540 1535 1531 1526 81.26 601.7 402 626.9 78.82 1522 1518 1513 1509 1543 1539 1535 1530 81.46 600.2 403 625.3 79.02 1526 1521 1517 1513 1547 1543 1538 1534 81.66 598.7 404 623.8 79.22 1530 1525 1521 1516 1551 1547 1542 1538 81.86 597.2 405 622.2 79.41 1533 1529 1525 1520 1555 1550 1546 1542 82.07 595.7 406 620.7 79.61 1537 1533 1528 1524 1559 1554 1550 1545 82.27 594.3 407 619.2 79.80 1541 1536 1532 1528 1562 1558 1554 1549 82.47 592.8 408 617.7 616.1 80.00 1545 1540 1536 1531 1566 1562 1557 1553 82.67 591.4 409 80.20 1548 1544 1540 1535 1570 1566 1561 1557 82.87 589.9 410 614.6 80.39 1552 1548 1543 1539 1574 1569 1565 1561 83.07 588.5 411 613.1 80.59 1E56 1552 1547 1543 1578 1573 1569 1564 83.28 587.1 412 611.7 80.79 1560 1555 1551 1546 1582 1577 1573 1568 83.48 585.6 413 610.2 80.98 1564 1559 1555 1550 1585 1581 1576 1572 83.68 584.2 414 608.7 81.18 1567 1563 1558 1554 1589 1585 1580 1576 83.88 582.8 415 607.2 81.37 1571 1567 1562 1558 1593 1589 1584 1580 84.09 581.4 416 605.8 81.57 1575 1570 1566 1561 1597 1592 1588 1583 84.29 580.0 417 604.3 81.77 1579 1574 1570 1565 1601 1596 1591 1587 84.49 578.6 418 602.9 81.96 82.16 1583 1578 1573 1569 1605 1600 1604 1595 1599 1591 1595 84.69 577.2 419 601.4 1586 1582 1577 1573 1608 84.89 575.9 420 600.0 82.35 1590 1586 1581 1576 1612 1608 1603 1599 85.10 574.5 421 598.6 82.55 1594 1589 1585 1580 1616 1611 1607 1602 85.30 573.1 422 597.1 82.74 1598 1593 1588 1584 1620 1615 1611 1606 85.50 571.8 423 595.7 82.94 1601 1597 1592 1588 1624 1619 1623 1627 1615 1618 1622 1610 1614 1617 85.70 570.5 424 594.3 83.14 1605 1601 1596 1591 1628 85.91 569.1 425 592.9 83.33 1609 1604 1600 1595 1631 86.11 567.8 426 591.5 83.53 1613 1608 1604 1599 1635 1631 1634 1626 1630 1621 1625 86.31 566.4 427 590.2 83.73 1617 1612 1607 1603 1639 86.51 565.1 428 588.8 83.92 1620 1616 1611 1606 1643 1638 1634 1629 86.71 563.8 429 587.4 84.12 1624 1620 1615 1610 1647 1642 1637 1633 86.92 562.5 430 586.0 84.31 1628 1623 1619 1614 1651 1646 1650 1641 1645 1636 1640 87.12 561.2 431 584.7 84.51 1632 1627 1622 1618 1654 87.32 559.9 432 583.3 84.71 1636 1631 1626 1621 1658 1654 1649 1644 87.52 558.6 433 582.0 84.90 1639 1635 1630 1625 1662 1657 1653 1648 87.72 557.3 434 580.6 85.10 1643 1638 1634 1629 1666 1661 1656 1652 87.93 556.0 435 579.3 85.29 1647 1642 1637 1633 1670 1665 1660 1655 88.13 554.7 436 578.0 85.49 1651 1646 1641 1636 1674 1669 1664 1659 88.33 553.5 437 576.7 85.69 1654 1650 1645 1640 1677 1673 1668 1663 88.53 552.2 438 575.3 85.88 1658 1654 1649 1644 1681 1676 1672 1667 88.73 550.9 439 574.0 86.08 1662 1657 1653 1648 1685 1680 1675 1671 88.94 549.7 440 572.7 86.27 1666 1661 1656 1651 1689 1684^ 1679 1674 89.14 548.4 441 571.4 86.47 1670 1665 1660 1655 1693 1688 1683 1678 89.34 547.2 442 570.1 86.67 1673 1669 1664 1659 1697 1692 1687 1682 89.54 546.0 443 568.8 86.86 1677 1672 1668 1663 1700 1696 1691 1686 89.74 544.7 444 567.6 87.06 1681 1676 1671 1666 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A- -Key Numbers 11 2% 2%% 2X% 2%% 1 MARKS 2 FCS. 3 STG, 4 STG. AT 25.20 5 STli. JT 20.40 3% 3%% 3X% 3%% 1704 1699 1695 1690 89.95 543.5 445 566.3 87.25 1685 1680 1675 1670 1708 1703 1698 1693 90.15 542.3 446 565.0 87.45 1689 1684 1679 1674 1712 1707 1702 1697 90.35 541.1 447 563.8 87.65 1692 1687 1683 1678 1716 1711 1706 1701 90.55 539.9 448 562.5 87.84 1696 1691 1686 1682 1719 1715 1710 1705 90.76 538.7 449 561.3 88.04 1700 1695 1690 1685 1723 1718 1722 1726 1714 1717 1721 1709 1712 1716 90.96 537.5 450 560.0 88.23 1704 1699 1694 1689 1727 91.16 536.3 451 558.8 88.43 1707 1703 1698 1693 1731 91.36 535.1 452 557.5 88.63 1711 1706 1701 1697 1735 1730 1725 1720 91.56 533.9 453 556.3 88.82 1715 1710 1705 1700 1739 1734 1729 1724 91.77 632.7 454 555.1 89.02 1719 1714 1709 1704 1742 1738 1733 1728 91.97 531.6 455 553.8 89.22 1723 1718 1713 1708 1746 1741 1736 1731 92.17 530.4 456 552.6 89.41 1726 1721 1717 1712 1750 1745 1740 1735 92.37 529.2 457 551.4 89.61 1730 1725 1720 1715 1754 1749 1744 1739 92.58 528.1 458 550.2 89.80 1734 1729 1724 1719 1758 1753 1748 1743 92.78 526.9 459 549.0 90.00 1738 1733 1728 1723 1762 1757 1752 1747 92.98 525.8 460 547.8 90.20 1742 1737 1732 1727 1765 1760 1755 1750 93.18 524.7 461 546.6 90.39 1745 1740 1736 1730 1769 1764 1759 1754 93.38 523.6 462 545.4 90.59 1749 1744 1739 1734 1773 1768 1763 1758 93.59 522.5 463 544.3 90.78 1753 1748 1743 1738 1777 1772 1767 1762 93.79 521.3 464 543.1 90.98 1757 1752 1747 1742 1781 1776 1771 1766 93.99 520.2 465 541.9 91.18 1761 1755 1750 1745 1785 1780 1774 1769 94.19 519.1 466 540.8 91.37 1764 1759 1754 1749 1788 1783 1778 1773 94.40 518.0 467 539.6 91.57 1768 1763 1758 1753 1792 1787 1782 1777 94.60 516.9 468 538.5 91.77 1772 1767 1762 1757 1796 1791 1786 1781 94.80 515.7 469 537.3 91.96 1776 1771 1765 1760 1800 1795 1790 1785 95.00 514.6 470 536.2 92.16 1779 1774 1769 1764 1804 1799 1794 1788 95.20 513.5 471 535.0 92.35 1784 1778 1773 1768 1808 1802 1797 1792 95.40 512.4 472 533.9 92.55 1787 1782 1777 1772 1811 1806 1801 1796 95.61 511.3 473 532.8 92.74 1791 1786 1780 1775 1815 1810 1805 1800 95.81 510.3 474 531.7 92.94 1795 1789 1784 1779 1819 1814 1809 1804 96.01 509.2 475 530.5 93.14 1798 1793 1788 1783 1823 1818 1813 1807 96.21 508.1 476 529.4 93.33 1802 1797 1792 1787 1827 1822 1816 1811 96.42 507.1 477 528.3 93.53 1806 1801 1796 1790 1831 1825 1820 1815 96.62 506.0 478 527.2 93.73 1810 1805 1799 1794 1834 1829 1824 1819 96.82 504.9 479 526.1 93.92 1814 1808 1803 1798 1838 1833 1828 1823 97.02 503.9 480 525.0 94.12 1817 1812 1807 1802 1842 1837 1832 1826 97.22 502.8 481 523.9 94.31 1821 1816 1811 1805 1846 1841 1835 1830 97.43 501.8 482 522.8 94.51 1825 1820 .1814 1809 1850 1844 1839 1834 97.63 500.8 483 521.7 94.71 1829 1823 1818 1813 1854 1848 1843 1838 97.83 499.7 484 520.7 94.90 1832 1827 1822 1817 1857 1852 1847 1842 98.03 498.7 485 519.6 95.10 1836 1831 1826 1820 1861 1856 1851 1845 98.24 497.7 486 518.5 95.30 1840 1835 1829 1824 1865 1860 1854 1849 98.44 496.6 487 517.5 95.49 1844 1838 1833 1828 1869 1864 1858 1853 98.64 495.6 488 516.4 95.69 1848 1842 1837 1832 1873 1867 1862 1857 98.84 494.6 489 515.3 95.88 1851 1846 1841 1835 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. 12 TABLE A— Key Numbers 4% 4>i% 4X% 4%% 1497 1493 1488 1484 1501 1496 1492 1488 1505 1500 1496 1491 1508 1504 1499 1495 1512 1508 1503 1499 1516 1511 1507 1503 1519 1515 1511 1506 1523 1519 1514 1510 1527 1523 1518 1514 1531 1526 1522 1517 1534 1538" 1530_ "1534" 1526 "1529" 1521 "T525" 1542 1537 1533 1528 1546 1541 1537 1532 1549 i5"5"3" 1557 1545 1540 1536 1549 1544 1540 1552 1548 1543 1561 1556 1552 1547 1564 1560 1555 1551 1568 1564 1559 1554 1572 1576" 1567 T5"7r 1563 1558 1566 1562 1579 1575 1570 1566 1583 1578 1574 1569 1587 1582 1578 1573 1591 1586 1581 1577 1594 1590 1585 1580 1 MARKS 2 FCS. 3 STG, 4 5 STG. AT STG. AT 25.20 20.40 B% 5X% 5X% 5%% 80.85 604.7 400 630.0 78.43 81.05 603.2 401 628.4 81.26 601.7 402 626.9 78.63 "78782" 81.46 600.2 403 625.3 79.02 81.66 598.7 404 81.86 597.2 405 623.8 T2272~ 79.22 79.41 82.07 595.7 406 620.7 79.61 82.27 594.3 407 619.2 79.80 82.47 592.8 408 617.7 80.00 82.67 591.4 409 616.1 80.20 82.87 589.9 410 614.6 80.39 83.07 588.5 411 613.1 80.59 83.28 587.1 412 611.7 80.79 83.48 585.6 413 610.2 80.98 83.68 584.2 414 608.7 81.18 83.88 582.8 415 607.2 81.37 84.09 581.4 416 605.8 81.57 84.29 580.0 417 604.3 81.77 84.49 578.6 418 602.9 81.96 84.69 577.2 419 601.4 82.16 84.89 575.9 420 600.0 82.35 85.10 574.5 421 598.6 82.55 85.30 573.1 422 597.1 82.74 85.50 571.8 423 595.7 82.94 85.70 570.5 424 594.3 83.14 85.91 569.1 425 592.9 83.33 86.11 567.8 426 591.5 83.53 1480 1475 1471 1467 1483 1479 1475 1470 1487 1483 1478 1474 1491 1486 1482 1478 1494 1490 1486 1481 1498 1494 1489 1485 1502 1497 1493 1489 1506 1501 1497 1492 1509 1505 1500 1496 1513 1508 1504 1500 1517 1512 1508 1503 1520 1516 1511 1507 1524 1520 1515 1511 1528 1523 1519 1514 1531 1527 1522 1518 1535 1531 1526 1522 1538 1534 1530 1525 1542 1538 1533 1529 1546 1542 1537 1533 1550 1545 1541 1536 1554 1549 1544 1540 1557 1553 1548 1544 1561 1556 1552 1547 1565 1560 1555 1551 1568 1564 1559 1555 1572 1567 1563 1558 1576 1571 1567 1562 1598 1593 1589 1584 86.31 566.4 427 590.2 1602 1597 1592 1588 86.51 565.1 428 588.8 83.73 "83792" 1579 1575 1570 1566 1583 1579 1574 1569 1606 1601 1596 1592 86.71 563.8 429 587.4 84.12 1609 1613" 1605 "ieo's" 1600 1595 86.92 562.5 430 586.0 84.31 1604 1599 87.12 561.2 431 584.7 84.51 1617 1620" 1612 "1616" 1607 T6"n~ 1603 160^6" 87.32 559.9 432 583.3 84.71 87.52 558.6 433 582.0 84.90 1624 f6"28" 1632" 1635" 1620 1615 1610 87.72 557.3 434 580.6 85.10 1587 1582 1578 1573 1591 1586 1581 1577 1594 1590 1585 1580 1598 1593 1589 1584 1602 1597 1592 1588 1605 1601 1596 1591 1623 1619 1614 1627 1622 1618 1631 1626 1621 1639 1634 1630 1625 1643 1638 1633 1629 1647 1642 1637 1632 1650 1646 1641 1636 1654 1649 1645 1640 1658 1653 1648 1643 1662 1657 1652 1647 87.93 556.0 435 579.3 85.29 1609 1604 1600 1595 88.13 554.7 436 578.0 85.49 1613 1608 1603 1598 88.33 553.5 437 576.7 85.69 88.53 552.2 438 575.3 85.88 88.73 550.9 439 574.0 86.08 88.94 549.7 440 572.7 86.27 89.14 548.4 441 571.4 86.47 89.34 547.2 442 570.1 89.54 546.0 443 568.8 86.67 "86786" 1616 1612 1607 1602 1620 1615 1611 1606 1624 1619 1614 1610 1628 1623 1618 1613 1631 1626 1622 1617 1635 1630 1625 1621 1639 1634 1629 1624 89.74 544.7 444 567.6 87.06 1642 1638 1633 1628 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A — Key Numbers 13 4% 4>i% 4X% 4%% 1 MARKS 13 FCS. 3 STG. 4 STG. AT 2S.20 STB. AT 20.40 5% 5%% 5X% ; 5%% 1665 1661 1656 1651 89.95 543.5 445 566.3 87.25 1646 1641 1636 1632 1669 1664 1659 1655 90.15 542.3 446 565.0 87.45 1650 1645 1640 1635 1673 1668 1663 1658 90.35 541.1 447 563.8 87.65 1653 1649 1644 1639 1677 1672 1676 1679 1667 1671 1674 1662 1666" 1669 90.55 539.9 448 562.5 87.84 1657 1652 1647 1643 1680 90.76 538.7 449 561.3 88.04 1661 1656 1651 1646 1684 90.96 537.5 450 560.0 88.23 1665 1660 1655 1650 1688 1683 1678 1673 91.16 536.3 451 558.8 88.43 1668 1663 1658 1654 1692 1687 1682 1677 91.36 535.1 452 557.5 88.63 1672 1667 1662 1657 1695 1690 1685 1681 91.56 533.9 453 556.3 88.82 1676 1671 1666 1661 1699 1694 1689 1684 91.77 532.7 454 555.1 89.02 1679 "1683" 1674 1678 1669 1673 1665 1703 1698 1693 1688 91.97 531.6 455 553.8 89.22 1668 1707 1702 1697 1692 92.17 530.4 456 552.6 89.41 1687 1682 1677 1672 1710 1705 1700 1695 92.37 529.2 457 551.4 89.61 1690 1694 1686 1689 1681 1684 1676 1714 1709 1704 1699 92.58 528.1 458 550.2 89.80 1679 1718 1713 1708 1703 92.78 526.9 459 549.0 90.00 1698 1693 1688 1683 1722 1717 1712 1707 92.98 525.8 460 547.8 90.20 1702 1705 1697 1700 1692 1695 1687 1725 1720 1715 1710 93.18 524.7 461 546.6 90.39 1690 1729 1724 1719 1714 93.38 523.6 462 545.4 90.59 1709 "1713" 1716 1720 1724 1727 1731 1735 1738 1742 1746 1704 1708 1711 1715 1719 1722 1726 1730 1733 1737 1741 1699 1703 1706 1710 1714 1717 1721 1725 1728 1732 1736 1694 1733 1728 1723 1718 93.59 522.5 463 544.3 90.78 1698 1736 1731 1726 1721 93.79 521.3 464 543.1 90.98 1701 1740 1735 1730 1725 93.99 520.2 465 541.9 91.18 1705 1744 1739 1734 1729 94.19 519.1 466 540.8 91.37 1709 1748 1743 1738 1733 94.40 518.0 467 539.6 91.57 1712 1751 1746 1741 1736 94.60 516.9 468 538.5 91.77 1716 1755 1750 1745 1740 94.80 515.7 469 537.3 91.96 1720 1759 1754 1749 1744 95.00 514.6 470 536.2 92.16 1723 1763 1758 1752 1747 95.20 513.5 471 535.0 92.35 1727 1766 1761 1756 1751 95.40 512.4 472 533.9 92.55 1731 1770 1765 1760 1755 95.61 511.3 473 532.8 92.74 1750 1745 1739 1734 1774 1769 1764 1759 95.81 510.3 474 531.7 92.94 1753 1748 1743 1738 1778 1773 1767 1762 96.01 509.2 475 530.5 93.14 1757 1752 1747 1742 1781 1776 1771 1766 96.21 508.1 476 529.4 93.33 1761 1756 1750 1745 1785 1780 1775 1770 96.42 507.1 477 528.3 93.53 1764 1759 1754 1749 1789 1784 1779 1773 96.62 506.0 478 527.2 93.73 1768 1772 1776 1763 1767 1770 1758 1761 1765 1753 1793 1787 1782 1777 96.82 504.9 479 526.1 93.92 1756 1796 1791 1786 1781 97.02 503.9 480 525.0 94.12 1760 1800 1795 1790 1784 97.22 502.8 481 523.9 94.31 1779 1783 1774 1778 1769 1772 1764 1804 1799 1793 1788 97.43 501.8 482 522.8 94.51 1767 1808 1802 1797 1792 97.63 500.8 483 521.7 94.71 1787 1781 1776 1771 1811 1806 1801 1796 97.83 499.7 484 520.7 94.90 1790 ■1785 1780 1775 1815 1810 1805 1799 98.03 498.7 485 519.6 95.10 1794 1789 1783 1778 1819 1814 1817 1808 1812" 1803 98.24 497.7 486 518.5 95.30 1798 1801 1805 1792 1796 1800 1787 1791 1795 1782 1823 1807 98.44 496.6 487 517.5 95.49 1786 1826 1821 1816 1810 98.64 495.6 488 516.4 95.69 1789 1830 1825 1819 1814 98.84 494.6 489 515.3 95.88 1809 1804 1798 1793 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as *^n nn 'U-wT- 4-lrtf\ l)-rt-»r -mlmV^af* well as by the key number. When using column 2, multiply or-, divide the key number. (as the case may be) by 9, as well as by 14 TABLE A— Key Numbers 6% QX% 6X% &X% 1 MARKS 2 FCS. 3 4 5 SJB STG.AT STC. AT 25.20 20.40 7% 7X% 7X% 7%% 14B2 1458 1454 1449 1466 1462 1457 1453 1470 1465 1461 1456 1473 1469 1464 1460 1477 1472 1468 1464 1480 1476 1472 1467 1484 1480 1475 1471 1488 1483 1479 1475 1491 1487 1483 1478 1495 1491 1486 1482 1499 1494 1490 1485 1502 1498 1493 1489 1506 1502 1497 1493 1510 1505 1501 1496 1513 1509 1504 1500 1517 1513 1508 1503 80.85 604.7 400 630.0 78.43 81.05 603.2 401 628.4 78.63 81.26 601.7 402 626.9 78.82 81.46 600.2 403 625.3 79.02 81.66 598.7 404 623.8 79.22 1445 1440 1436 1432 1448 1444 1440 1435 1452 1448 1443 1439 1456 1451 1447 1442 1459 1455 1450 1446 81.86 597.2 405 622.2 79.41 1463 1458 1454 1450 82.07 595.7 406 620.7 79.61 1466 1462 1458 1453 82.27 594.3 407 619.2 79.80 1470 1466 1461 1457 82.47 592.8 408 617.7 80.00 1474 1469 1465 1460 82.67 591.4 409 616.1 80.20 1477 1473 1-468 1464 82.87 83.07 589.9 "588~5~ 410 614.6 80.39 1481 1476 1472 1468 411 613.1 80.59 1485 1480 1476 1471 83.28 587.1 412 611.7 80.79 1488 1484 1479 1475 83.48 585.6 413 610.2 80.98 1492 1487 1483 1478 83.68 584.2 414 608.7 81.18 1495 1491 1486 1482 83.88 582.8 415 607.2 81.37 1499 1494 1490 1485 1521 1516 1512 1507 84.09 581.4 416 605.8 81.57 1503 1498 1494 1489 1524 1520 1515 1511 84.29 580.0 417 604.3 81.77 1506 1502 1497 1493 1528 1523 1519 1514 84.49 578.6 418 602.9 81.96 1510 1505 1501 1496 1532 1527 1523 1518 84.69 577.2 419 601.4 82.16 1513 1509 1504 1500 1535 1531 1526 1522 84.89 575.9 420 600.0 82.35 1517 1512 1508 1503 1539 1534 1530 1525 85.10 574.5 421 598.6 82.55 1521 1516 1511 1507 1543 1538 1533 1529 85.30 573.1 422 597.1 82.74 1546 1542 1537 1532 85.50 571.8 423 595.7 82.94 1524 "1528" 1520 "1523" 1515 1511 1519 isTT 1550 1545 1541 1536 85,70 570.5 424 594.3 83.14 1532 1527 1522 1518 1554 1549 1544 1540 85.91 569.1 425 592.9 83.33 1535 1530 1526 1521 1557 1553 1548 1543 86.11 567.8 426 591.5 83.53 1539 1534 1529 1525 1561 1556 1552 1547 86.31 566.4 427 590.2 83.73 1542 1538 1533 1528 1565 1560 1555 1551 86.51 565.1 428 588.8 83.92 1546 1541 1537 1532 1568 1564 1559 1554 86.71 563.8 429 587.4 84.12 1550 1545 1540 1536 1572 1567 1562 1558 86.92 562.5 430 586.0 84.31 1553 1548 1544 1539 1575 1571 1566 1561 87.12 561.2 431 584.7 84.51 1557 1552 1547 1543 1579 1574 1570 1565 87.32 559.9 432 583.3 84.71 1583 1578 1573 1569 87.52 558.6 433 582.0 84.90 1586 1582 1577 1572 1590 1585 1581 1576 1594 1589 1584 1580 87.72 557.3 434 580.6 85.10 87.93 556.0 435 579.3 85.29 1560 1556 1551 1546 1564 1559 1555 1550 1568 1563 1558 1553 1571 1566 1562 1557 88.13 554.7 436 578.0 85.49 1575 1570 1565 1561 1597 1593 1588 158r 88.33 553.5 437 576.7 85.69 1578 1574 1569 1564 1601 1596 1592 1587 88.53 552.2 438 575.3 85.88 1582 1577 1573 1568 1605 1600 1595 1590 88.73 550.9 439 574.0 86.08 1586 1581 1576 1571 1608 1604 1599 1594 88.94 549.7 440 572.7 86.27 1589 1584 1580 1575 1612 1607 1602 1598 89.14 548.4 441 571.4 86.47 1593 1588 1583 1579 1616 1611 1606 1601 89.34 547.2 442 570.1 86.67 1597 1592 1587 1582 1619 1615 1610 1605 89.54 546.0 443 568.8 86.86 1600 1595 1590 1586 1623 1618 1613 1609 89.74 544.7 444 567.6 87.06 1604 1599 1594 1589 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) the key number. by 9, as well as by TABLE A — Key Numbers 15 6% 6X% 6X% 6%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. AT 20.40 7% 7H% 7X% 7%% 1627 1622 1617 1612 89.95 543.5 445 566.3 87.25 1607 1602 1598 1593 1630 1626 1621 1616 90.15 542.3 446 565.0 87.45 1611 1615 1618 1622 1625 1629 1633 1606 1610 1613 1617 1621 1624 1628 1601 1605 1608 1612 1616 1619 1623 1596 1634 1629 1624 1619 90.35 541.1 447 563.8 87.65 1600 1638 1633 1628 1623 90.55 539.9 448 562.5 87.84 1604 1641 1636 1640 1632 1635 1627 1630 90.76 538.7 449 561.3 88.04 1607 1645 90.96 537.5 450 560.0 88.23 1611 1649 1644 1639 1634 91.16 536.3 451 558.8 88.43 1614 1652 1647 1642 1638 91.36 535.1 452 557.5 88.63 1618 1656 1651 1646 1641 91.56 533.9 453 556.3 88.82 1636 1640 1643 1647 1631 1635 1639 1642 1626 1630 1634 1637 1621 1660 1655 1650 1645 91.77 532.7 454 555.1 89.02 1625 1663 1658 1653 1648' 91.97 531.6 455 553.8 89.22 1629 1667 1662 1657 1652 92.17 530.4 456 552.6 89.41 1632 1671 1666 1661 1656 92.37 529.2 457 551.4 89.61 1651 1654 1658 1662 1665 1669 1672 1676 1680 1683 1687 1690 1694 1698 1701 1646 1649 1653 1657 1660 1664 1667 1671 1675 1678 1682 1685 1689 1693 1696 1641 1644 1648 1652 1655 1659 1662 1666 1669 1673 1677 1680 1683 1687 1691 1636 1674 1669 1664 1659 92.58 528.1 458 550.2 89.80 1639 1678 1673 1668 1663 92.78 526.9 459 549.0 90.00 1643 1682 1677 1672 1667 92.98 525.8 460 547.8 90.20 1647 1685 1680 1675 1670 93.18 524.7 461 546.6 90.39 1650 1689 1684 1679 1674 93.38 523.6 462 545.4 90.59 1654 1692 1687 1682 1677 93.59 522.5 463 544.3 90.78 1657 1696 1691 1686 1681 93.79 521.3 464 543.1 90.98 1661 1700 1695 1690 1685 93.99 520.2 465 541.9 91.18 1664 1703 1698 1693 1688 94.19 519.1 466 540.8 91.37 1668 1707 1702 1697 1692 94.40 518.0 467 539.6 91.57 1672 1711 1706 1701 1695 94.60 516.9 468 538.5 91.77 1675 1714 1709 1704 1699 94.80 515.7 469 537.3 91.96 1679 1718 1713 1708 1703 95.00 514.6 470 536.2 92.16 1682 1722 1717 1711 1706 95.20 513.5 471 535.0 92.35 1686 1725 1720 1715 1710 95.40 512.4 472 533.9 92.55 1705 1700 1695 1689 1729 1724 1719 1714 95.61 511.3 473 532.8 92.74 1708 1712 1703 1707 1698 1702 1693 1733 1728 1722 1717 95.81 510.3 474 531.7 92.94 1697 1736 1731 1726 1721 96.01 509.2 475 530.5 93.14 1716 1711 1705 1700 1740 1735 1730 1724 96.21 508.1 476 529.4 93.33 1719 1714 1709 1704 1744 1738 1733 1728 96.42 507.1 477 528.3 93.53 1723 1718 1713 1707 1747 1742 1737 1732 96.62 506.0 478 527.2 93.73 1727 1721 1716 1711 1751 1746 1741 1735 96.82 504.9 479 526.1 93.92 1730 1725 1720 1715 1755 1749 1744 1739 97.02 503.9 480 525.0 94.12 1734 1729 1723 1718 1758 1753 1748 1743 97.22 502.8 481 523.9 94.31 1737 1732 1727 1722 1762 1756 1751 1746 97.43 501.8 482 522.8 94.51 1741 1736 1731 1725 1766 1760 1755 1750 97.63 500.8 483 521.7 94.71 1745 1739 1734 1729 1769 1764 1759 1753 97.83 499.7 484 520.7 94.90 1748 1743 1738 1732 1773 1768 1762 1757 98.03 498.7 485 519.6 95.10 1752 1747 1741 1736 1777 1771 1766 1761 98.24 497.7 486 518.5 95.30 1755 1750 1745 1740 1780 1775 1779 1770 1773 1764 1768 98.44 496.6 487 517.5 95.49 1759 1754 1748 1743 1784 98.64 495.6 488 516.4 95.69 1763 1757 1752 1747 1788 1782 1777 1772 98.84 494.6 489 515.3 95.88 1766 1761 1756 1750 NOTE: When using column 1, multiply- well as by the key number. When using column 2, multiply or divide the key number. or divide (as the case may be) by 11, as (as the case may be) by 9, as well as by 16 TABLE A— Key Numbers 8% 8X% 8X% s^% 1 MARKS 3 FCS. 3 STG. 4 STG. AT 25.20 STG. AT 20.40 9% 9X% 9X% 9%% 1427 1423 1419 1414 80.85 604.7 400 630.0 78.43 1410 1406 1401 1397 1431 1427 1430 1422 1426 1418 1421 81.05 603.2 401 628.4 78.63 1414 1409 1405 1400 1435 81.26 601.7 402 626.9 78.82 1417 1413 1408 1404 1438 1434 1437 1429 1433 1425 1429 81.46 600.2 403 625.3 79.02 1421 1416 1412 1407 1442 81.66 598.7 404 623.8 79.22 1424 1420 1415 1411 1445 1441 1444 1448 1452 1455 1436 1440 1444 1447 1451 1432 1436 1439 1443 1446 81.88 597.2 405 622.2 79.41 1428 1423 1419 1414 1449 82.07 595.7 406 620.7 79.61 1431 1427 1422 1418 1452 82.27 594.3 407 619.2 79.80 1435 1430 1426 1421 1456 82.47 592.8 408 617.7 80.00 1438 1434 1429 1425 1460 82.67 591.4 409 616.1 80.20 1442 1437 1433 1428 1463 1459 1462 1454 1458 1450 1453 82,87 589.9 410 614.6 80.39 1445 1441 1436 1432 1467 83.07 588.5 411 613.1 80.59 1449 1444 1440 1435 1470 1466 1461 1457 83.28 587.1 412 611.7 80.79 1452 1448 1443 1439 1474 1469 1465 1460 83.48 585.6 413 610.2 80.98 1456 1451 1447 1442 1477 1473 1468 1464 83.68 584.2 414 608.7 81.18 1459 1455 1450 1446 1481 1476 1472 1467 83.88 582-.8 415 607.2 81.37 1463 1458 1454 1449 1485 1480 1475 1471 84.09 581.4 416 605.8 81.57 1466 1462 1457 1453 1488 1484 1479 1474 84.29 580.0 417 604.3 81.77 1470 1465 1461 1456 1492 1487 1483 1478 84.49 578.6 418 602.9 81.96 1473 1469 1464 1460 1495 1491 1486 1481 84.69 577.2 419 601.4 82.16 1477 1472 1468 1463 1499 1494 1490 1485 84.89 575.9 420 600.0 82.35 1480 1476 1471 1467 1502 1498 1493 1489 85.10 574.5 421 598.6 82.55 1484 1479 1475 1470 1506 1501 1497 1492 85.30 573.1 422 597.1 82.74 1488 1483 1478 1474 1510 1505 1500 1496 85.50 571.8 423 595.7 82.94 1491 1486 1482 1477 1513 1508 1504 1499 85.70 570.5 424 594.3 83.14 1495 1498 1490 1494 1485 1489 1481 1517 1512 1507 1503 85.91 569.1 425 592.9 83.33 1484 1520 1516 1511 1506 86.11 567.8 426 591.5 83.53 1502 1497 1492 1488 1524 1519 1514 1510 86.31 566.4 427 590.2 83.73 1505 1501 1496 1491 1527 1523 1518 1513 86.51 565.1 428 588.8 83.92 1509 1504 1499 1495 1531 1526 1522 1517 86.71 563.8 429 587.4 84.12 1512 1508 1503 1498 1534 1530 1525 1520 86.92 562.5 430 586.0 84.31 1516 1511 1506 1502 1538 1533 1529 1524 87.12 561.2 431 584.7 84.51 1519 1515 1510 1505 1542 1537 1532 1527 87.32 559.9 432 583.3 84.71 1523 1518 1513 1509 1545 1540 1536 1531 87.52 558.6 433 582.0 84.90 1526 1522 1517 1512 1549 1544 1548 1539 1543 1535 1538 87.72 557.3 434 580.6 85.10 1530 1525 1520 1516 1552 87.93 556.0 435 579.3 85.29 1533 1529 1524 1519 , 1556 1551 1546 1542 88.13 554.7 436 578.0 85.49 1537 1532 1527 1523 1559 1555 1550 1545 88.33 553.5 437 576.7 85.69 1540 1536 1531 1526 1563 1558 1554 1549 88.53 552.2 438 575.3 85.88 1544 1539 1534 1530 1567 1562 1557 1552 88.73 550.9 439 574.0 86.08 1547 1543 1538 1533 1570 1565 1561 1556 88.94 549.7 440 572.7 86.27 1551 1546 1541 1537 1574 1569 1572 1576 1564 1568 1571 1559 1563 1566 89.14 548.4 441 571.4 86.47 1555 1550 1545 1540 1577 89.34 547.2 442 570.1 86.67 1558 1553 1548 1544 1581 89.54 546.0 443 568.8 86.86 1562 1557 1552 1547 1584 1580 1575 1570 89.74 544.7 444 567.6 87.06 1565 1560 1555 1551 may be) by 11, as NOTE: When using column 1, multiply or divide (as the case well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A- —Key Numbers 17 8% 8%% 8X% 8X% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. AT 20.40 9% 9X% 9X% 9%% 1588 1583 1578 1573 89.95 543.5 445 566.3 87.25 1569 1564 1559 1554 1592 1587 1582 1577 90.15 542.3 446 565.0 87.45 1572 1567 1562 1558 1595 1590 1585 1581 90.35 541.1 447 563.8 87.65 1576 1571 1566 1561 1599 1594 1589 1584 90.55 539.9 448 562.5 87.84 1579 1574 1569 1565 1602 1597 1593 1588 90.76 538.7 449 561.3 88.04 1583 1578 1573 1568 1606 1601 1596 1591 90.96 537.5 450 560.0 88.23 1586 1581 1576 1572 1609 1604 1600 1595 91.16 536.3 451 558.8 88.43 1590 1585 1580 1575 1613 1608 1603 1598 91.36 535.1 452 557.5 88.63 1593 1588 1583 1579 1617 1612 1607 1602 91.56 533.9 453 556.3 88.82 1597 1592 1587 1582 1620 1615 1610 1605 91.77 532.7 454 555.1 89.02 1600 1595 1590 1586 1624 1619 1614 1609 91.97 531.6 455 553.8 89.22 1604 1607~ 1599 1602 1594 "1597'" 1589 1627 1622 1617 1612 92.17 530.4 456 552.6 89.41 1592 1631 1626 1621 1616 92.37 529.2 457 551.4 89.61 1611 1606 1601 1596 1634 1629 1624 1619 92.58 528.1 458 550.2 89.80 1614 1609 1604 1599 1638 1633 1628 1623 92.78 526.9 459 549.0 90.00 1618 1613 1608 1603 1642 1637 1631 1626 92.98 525.8 460 547.8 90.20 1621 1616 1611 1606 1645 1640 1635 1630 93.18 524.7 461 546.6 90.39 1625 1620 1615 1610 1649 1644 1639 1634 93.38 523.6 462 545.4 90.59 1629 1623 1618 1613 1652 1647 1642 1637 93.59 522.5 463 544.3 90.78 1632 1627 1622 1617 1656 1651 1646 1641 93.79 521.3 464 543.1 90.98 1636 1631 1625 1620 1659 1654 1649 1644 93.99 520.2 465 541.9 91.18 1639 1634 1629 1624 1663 1658 1653 1648 94.19 519.1 466 540.8 91.37 1643 1638 1632 1627 1667 1661 1656 1651 94.40 518.0 467 539.6 91.57 1646 1641 1636 1631 1670 1665 1660 1655 94.60 516.9 468 538.5 91.77 1650 1645 1639 1634 1674 1669 1663 1658 94.80 515.7 469 537.3 91.96 1653 1648 1643 1638 1677 1672 1667 1662 95.00 514.6 470 536.2 92.16 1657 1652 1646 1641 1681 1676 1670 1665. 95.20 513.5 471 535.0 92.35 1660 1655 1650 1645 1684 1679 1674 1669 95.40 512.4 472 533.9 92.55 1664 1659 1653 1648 1688 1683 1678 1672 95.61 511.3 473 532.8 92.74 1667 1662 1657 1652: 1691 1686 1681 1676 95.81 510.3 474 531.7 92.94 1671 1666 1660 1655 1695 1690 1685 1680 96.01 509.2 475 530.5 93.14 1674 1669 1664 1659 1699 1693 1688 1683 96.21 508.1 476 529.4 93.33 1678 1673 1668 1662 1702 1697 1692 1687 96.42 507.1 477 528.3 93.53 1681 1676 1671 1666 1706 1701 1695 1690 96.62 506.0 478 527.2 93.73 1685 1680 1675 1669 1709 1704 1699 1694 96.82 504.9 479 526.1 93.92 1688 1683 1678 1673 1713 1708 1702 1697 97.02 503.9 480 525.0 94.12 1692 1687 1682 1676 1716 1711 1706 1701 97.22 502.8 481 523.9 94.31 1695 1690 1685 1680 1720 1715 1709 1704 97.43 501.8 482 522.8 94.51 1699 1694 1689 1683 1724 1718 1713 1708 97.63 500.8 483 521.7 94.71 1703 1697 1692 1687 1727 1722 1717 1711 97.83 499.7 484 520.7 94.90 1706 1701 1696 1690 1731 1725 1720 1715 98.03 498.7 485 519.6 95.10 1710 1704 1699 1694 1734 1729 1724 1718 98.24 497.7 486 518.5 95.30 1713 1708 1703 1697 1738 1733 1727 1722 98.44 496.6 487 517.5 95.49 1717 1711 1706 1701 1741 1736 1731 1725 98.64 495.6 488 516.4 95.69 1720 1715 1710 1704 1745 1740 1734 1729 98.84 494.6 489 515.3 95.88 1724 1718 1713 1708 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. 18 TABLE A— Key Numbers 10% WK% WX% 10%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 STG. AT 20.40 11% nx% nx% nx% 1393 1388 1392 1395 1399 1402 1384 1387 1391 1394 1398 1380 1383 1386 1390 1393 80.85 604.7 400 630.0 78.43 1375 1371 1366 1362 1396 81.05 603.2 401 628.4 78.63 1379 1374 1370 1366 1400 81.26 601.7 402 626.9 78.82 1382 1378 1373 1369 1403 81.46 600.2 403 625.3 79.02 1386 1381 1377 1372 1407 81.66 598.7 404 623.8 79.22 1389 1385 1380 1376 1410 1406 1409 1413 14K 1401 1405 1408 1412 1397 1400 1404 1407 81.86 597.2 405 622.2 79.41 1392 1388 1384 1379 1413 82.07 595.7 406 620.7 79.61 1396 1391 1387 1383 1417 82.27 594.3 407 619.2 79.80 1399 1395 1390 1386 1420 82.47 592.8 408 "409" 617.7 616.1 80.00 1403 1398 1394 1389 1424 1419 1415 1411 82.67 591.4 80.20 1406 1402 1397 1393 1427 1423 1426 1430 1418 1422 1425 1414 1418 1421 82.87 589.9 410 614.6 80.39 1410 1405 1401 1396 1431 83.07 588.5 411 613.1 80.59 1413 1409 1404 1400 1434 83.28 587.1 412 611.7 80.79 1416 1412 1407 1403 1438 1433 1437 1440 1429 1432 1436 1424 1428 1431 83.48 585.6 413 610.2 80.98 1420 1415 1411 1406 1441 83.68 584.2 414 608.7 81.18 1423 1419 1414 1410 1445 83.88 582.8 415 607.2 81.37 1427 1422 1418 1413 '1448 1444 1439 1435 84.09 581.4 416 605.8 81.57 1430 1426 1421 1417 1452 1447 1451 1443 1446 1438 1442 84.29 580.0 417 604.3 81.77 1434 1429 1425 1420 1455 84.49 578.6 418 602.9 81.96 1437 1433 1428 1423 1459 1454 1458 1450 1453 1445 1449 84.69 577.2 419 601.4 82.16 1441 1436 1431 1427 1462 84.89 575.9 420 600.0 82.35 1444 1439 1435 1430 1466 1461 1457 1452 85.10 574.5 421 598.6 82.55 1447 1443 1438 1434 1469 1465 1460 1455 85.30 573.1 422 597.1 82.74 1451 1446 1442 1437 1473 1468 1463 1459 85.50 571.8 423 595.7 82.94 1454 1450 1445 1440 1476 1471 1475 1478 1467 1470 1474 1462 1466 1469 85.70 570.5 424 594.3 83.14 1458 1461 1453 1457 1448 1452 1444 1480 85.91 569.1 425 592.9 83.33 1447 1483 86.11 567.8 426 591.5 §3.53 1465 1460 1455 1451 1487 1482 1477 1473 86.31 566.4 427 590.2 83.73 1468 1471 1475 1463 1467 1470 1459 1462 1466 1454 1490 1485 1481 1476 86.51 565.1 428 588.8 83.92 1457 1494 1489 1484 1480 86.71 563.8 429 587.4 84.12 1461 1497 1492 1488 1483 86.92 562.5 430 586.0 84.31 1478 1474 1469 1464 1501 1496 1499 1491 1495 1486 1490 87.12 561.2 431 584.7 84.51 1482 1477 1472 1468 1504 87.32 559.9 432 583.3 84.71 1485 1481 1476 1471 1507 1503 1498 1493 87.52 558.6 433 582.0 84.90 1489 1484 1479 1474 1511 1506 1502 1497 87.72 557.3 434 580.6 85.10 1492 1487 1483 1478 1514 1510 1505 1500 87.93 556.0 435 579.3 85.29 1496 1491 1486 1481 1518 1513 1517 1508 1512 1504 1507 88.13 554.7 436 578.0 85.49 1499 1502 1494 1498 1489 1493 1485 1521 88.33 553.5 437 576.7 85.69 1488 1525 1520 1515 1511 88.53 552.2 438 575.3 85.88 1506 1501 1496 1492 1528 1524 1519 1514 88.73 550.9 439 574.0 86.08 1509 1513 1505 1508 1500 1503 1495 1532 1527 1522 1517 88.94 549.7 440 572.7 86.27 1498 1535 1531 1526 1521 89.14 548.4 441 571.4 86.47 1516 1511 1507 1502 1539 1534 1529 1524 89.34 547.2 442 570.1 86.67 1520 1515 1510 1505 1542 1537 1541 1533 1536 1528 1531 89.54 546.0 443 568.8 86.86 1523 1518 1513 1509 1546 89.74 544.7 444 567.6 87.06 1526 1522 1517 1512 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A— Key Numbers 19 10% io>i% iox% 10%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STO. AT 20.40 11% 11%% nx% 11%% 1549 1544 1540 1535 89.95 543.5 445 566.3 87.25 1530 1525 1520 1515 1553 1548 1551 1543 1546 1538 1542 90.15 542.3 446 565.0 87.45 1533 1529 1524 1519 1556 90.35 541.1 447 563.8 87.65 1537 1532 1527 1522 1560 1555 1550 1545 90.55 539.9 448 562.5 87.84 1540 1535 1530 1526 1563 1558 1553 1549 90.76 538.7 449 561.3 88.04 1544 1539 1534 1529 1567 1562 1557 1552 90.96 537.5 450 560.0 88.23 1547 1551 1542 1546 1537 1541 1532 1570 1565 1560 1555 91.16 536.3 451 558.8 88.43 1536 1574 1569 1564 1559 91.36 535.1 452 557.5 88.63 1554 1557 1561 1549 1552 1556 1544 1548 1551 1539 1577 1572 1567 1562 91.56 533.9 453 556.3 88.82 1543 1581 1576 1571 1566 91.77 532.7 454 555.1 89.02 1546 1584 1579 1574 1569 91.97 531.6 455 553.8 89.22 1564 1559 1554 1549 1588 1583 1578 1573 92.17 530.4 456 552.6 89.41 1568 1571" 1563 1566 1558 "1561" 1553 1591 1586 1581 1576 92.37 529.2 457 551.4 89.61 1556 1594 1590 1585 1580 92.58 528.1 458 550.2 89.80 1575 1570 1565 1560 1598 1593 1588 1583 92.78 526.9 459 460 549.0 547.8 90.00 "90.20" 1578 1573 1568 1563 1601 1596 1591 1586 92.98 525.8 1582 1576 1571 1566 1605 1600 1595 1590 93.18 524.7 461 546.6 90.39 1585 1580 1575 1570 1608 1603 1598 1593 93.38 523.6 462 545.4 90.59 1588 1583 1578 1573 1612 1607 1602 1597 93.59 522.5 463 544.3 90.78 1592 1587 1582 1577 1615 1610 1605 1600 93.79 521.3 464 543.1 90.98 1595 1590 1585 1580 1619 1614 1609 1604 93.99 520.2 465 541.9 91.18 1599 1594 1589 1583 1622 1617 1612 1607 94.19 519.1 466 540.8 91.37 1602 1597 1592 1587 1626 1621 1616 1611 94.40 518.0 467 539.6 91.57 1606 1600 1595 1590 1629 1624 1619 1614 94.60 516.9 468 538.5 91.77 1609 1604 1599 1594 1633 1628 1623 1617 94.80 515.7 469 537.3 91.96 1612 1607 1602 1597 1636 1631 1626 1621 95.00 514.6 470 536.2 92.16 1616 1611 1606 1600 1640 1635 1630 1624 95.20 513.5 471 535.0 92.35 1619 1614 1609 1604 1643 1638 1633 1628 95.40 512.4 472 533.9 92.55 1622 1618 1612 1607 1647 1642 1636 1631 95.61 511.3 473 532.8 92.74 1626 1621 1616 1611 1650 1645 1640 1635 95.81 510.3 474 531.7 92.94 1630 1625 1619 1614 1654 1649 1643 1638 96.01 509.2 475 530.5 93.14 1633 1628 1623 1618 1657 1652 1647 1642 96.21 508.1 476 529.4 93.33 1636 1631 1626 1621 1661 1655 1650 1645 96.42 507.1 477 528.3 93.53 1640 1635 1630 1624 1664 1659 1654 1649 98.62 506.0 478 527.2 93.73 1643 1638 1633 1628 1668 1662 1657 1652 96.82 504.9 479 526.1 93.92 1647 1641 1636 1631 1671 1666 1661 1655 97.02 503.9 480 525.0 94.12 1650 1645 1640 1635 1675 1669 1664 1659 97.22 502.8 481 523.9 94.31 1654 1648 1643 1638 1678 1673 1668 1662 97.43 501.8 482 522.8 94.51 1657 1652 1647 1641 1682 1676 1671 1666 97.63 500.8 483 521.7 94.71 1661 1655 1650 1645 1685 1680 1675 1669 97.83 499.7 484 520.7 94.90 1664 1659 1654 1648 1688 1683 1678 1673 98.03 498.7 485 519.6 95.10 1667 i67T 1662 1666 1657 1660 1652 1692 1687 1681 1676 98.24 497.7 486 518.5 95.30 1655 1695 1690 1685 1680 98.44 496.6 487 517.5 95.49 1674 1669 1664 1658 1699 1694 1688 1683 98.64 495.6 488 516.4 95.69 1678 1681 1672 1676 1667 1671 1662 1702 1697 1692 1686 98.84 494.6 489 515.3 95.88 1665 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. 20 TABLE A —Key Nu mbers 12% 12Ji% 12X% 12%% 1 MARKS 2 FCS. 3 STG. 4 STG. «T 25.20 5 STG. AT 20.40 13% 13X% 13X% 13%% 1358 1353 1349 1345 80.85 604.7 400 630.0 78.43 1340 1336 1332 1327 1361 1357 1352 1348 81.05 603.2 401 628.4 78.63 1344 1339 1335 1331. 1365 1360 1364 1367 1370 1356 1359 1363 "1366" 1351 1355 1358 1362 81.26 601.7 402 626.9 78.82 1347 1343 1338 1334 1368 81.46 600.2 403 625.3 79.02 1350 1346 1342 1337 1371 81.66 598.7 404 623.8 79.22 1354 1349 1345 1341 1375 81.86 597.2 405 622.2 79.41 1357 1353 1348 1344 1378 1374 1369 1365 82.07 595.7 406 620.7 79.61 1360 1356 1352 1347 1382 1377 1373 1368 82.27 594.3 407 619.2 79.80 1364 1359 1355 1351 1385 1381 1384 1376 1379 1372 1375 82.47 592.8 408 617.7 80.00 1367 1363 1358 1354 1388 82.67 591.4 409 616.1 80.20 1371 1366 1362 1357 1392 1387 1383 1378 82.87 589.9 410 614.6 80.39 1374 1369 1365 1360 1395 1391 1386 1382 83.07 588.5 411 613.1 80.59 1377 1373 1368 1364 1399 1394 1390 1385 83.28 587.1 412 611.7 80.79 1381 1376 1372 1367 1402 1397 1393 1388 83.48 585.6 413 610.2 80.98 1384 1379 1375 1370 1405 1401 1396 1392 83.68 584.2 414 608.7 81.18 1387 1383 1378 1374 1409 1404 1400 1395 83.88 582.8 415 607.2 81.37 1391 1386 1382 1377 1412 1408 1403- 1398 84.09 581.4 416 605.8 81.57 1394 1397 1389 1393 1385 1388 1380 1415 1411 1406 1402 84.29 580.0 417 604.3 81.77 1384 1419 1414 1410 1405 84.49 578.6 418 602.9 81.96 1401 1396 1392 1387 1422 1418 1413 1409 84.69 577.2 419 601.4 82.16 1404 1399 1395 1390 1426 1421 1416 1412 84.89 575.9 420 600.0 82.35 1407 1403 1398 1394 1429 1425 1420 1415 85.10 574.5 421 598.6 82.55 1411 1406 1402 1397 1432 1428 1423 1419 85.30 573.1 422 597.1 82.74 1414 1409 1405 1400 1436 1431 1427 1422 85.50 571.8 423 595.7 82.94 1417 1413 1408 1404 1439 1435 1430 1425 85.70 570.5 424 594.3 83.14 1421 1416 1412 1407 1443 1438 1433 1429 85.91 569.1 425 592.9 83.33 1424 1420 1415 1410 1446 1441 1437 1432 86.11 567.8 426 591.5 83.53 1427 1423 1418 1414 1449 1445 1440 1435 86.31 566.4 427 590.2 83.73 1431 1426 1422 1417 1453 1448 1452 1443 1447 1439 1442 86.51 565.1 428 588.8 83.92 1434 1430 1425 1420 1456 86.71 563.8 429 587.4 84.12 1438 1433 1428 1424 1460 1455 1450 1446 86.92 562.5 430 586.0 84.31 1441 1436 1432 1427 1463 1458 1454 1449 87.12 561.2 431 584.7 84.51 1444 1440 1435 1430 1466 1462 1457 1452 87.32 559.9 432 583.3 84.71 1448 1443 1438 1433 1470 1465 1460 1456 87.52 558.6 433 582.0 84.90 1451 1446 1442 1437 1473 1468 1464 1459 87.72 557.3 434 580.6 85.10 1454 1450 1445 1440 1477 1472 1467 1462 87.93 556.0 435 579.3 85.29 1458 1453 1448 1443 1480 1475 1470 1466 88.13 554.7 436 578.0 85.49 1461 1456 1452 1447 1483 1479 1474 1469 88.33 553.5 437 576.7 85.69 1464 1460 1455 1450 1487 1482 1477 1472 88.53 552.2 438 575.3 85.88 1468 1463 1458 1453 1490 1485 1481 1476 88.73 550.9 439 574.0 86.08 1471 1474 1466 1470 1462 1465 1457 1494 1489 1492 1484 1487 1479 1483 88.94 549.7 440 572.7 86.27 1460 1497 89.14 548.4 441 571.4 86.47 1478 1473 1468 1463 1500 1495 1491 1486 89.34 547.2 442 570.1 86.67 1481 1476 1472 1467 1504 1499 1502 1494 1497 1489 1493 89.54 546.0 443 568.8 86.86 1484 1480 1475 1470 1507 89.74 544.7 444 567.6 87.06 1488 1483 1478 1473 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as ■well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. i TABLE A — Key Numbers 21 12% 12%% 12X% 12%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 STG. AT 20.40 13% 13%% 13%% 13%% 1511 1506 1501 1496 89.95 543.5 445 566.3 87.25 1491 1486 1482 1477 1514 1509 1504 1499 90.15 542.3 446 565.0 87.45 1494 1490 1485 1480 1517 1512 1516 1508 1511 1503 1506 90.35 541.1 447 563.8 87.65 1498 1493 1488 1483 1521 90.55 539.9 448 562.5 87.84 1501 1496 1491 1487 1524 1519 1523 1514 1518 1509 1513 90.76 538.7 449 561.3 88.04 1505 1500 1495 1490 1527 90.96 537.5 450 560.0 88.23 1508 1503 1498 1493 1531 1526 1521 1516 91.16 536.3 451 558.8 88.43 1511 1506 1501 1497 1534 1529 1524 1520 91.36 535.1 452 557.5 88.63 1515 1510 1505 1500 1538 1533 1536 1528 1531 1523 1526 91.56 533.9 453 556.3 88.82 1518 1513 1508 1503 1541 91.77 532.7 454 555.1 89.02 1521 1516 1511 1507 1544 1540 1535 1530 91.97 531.6 455 553.8 89.22 1525 1520 1515 1510 1548 1543 1538 1533 92.17 530.4 456 552.6 89.41 1528 1523 1518 1513 1551 1546 1541 1536 92.37 529.2 457 551.4 89.61 1531 1526 1521 1516 1555 1550 1545 1540 92.58 528.1 458 550.2 89.80 1535 1530 1525 1520 1558 1553 1548 1543 92.78 526.9 459 549.0 90.00 1538 1533 1528 1523 1561 1556 1551 1546 92.98 525.8 460 547.8 90.20 1541 1536 1531 1526 1565 1560 1555 1550 93.18 524.7 461 546.6 90.39 1545 1540 1535 1530 1568 1563 1558 1553 93.38 523.6 462 545.4 90.59 1548 1543 1538 1533 1572 1567 1562 1556 93.59 522.5 463 544.3 90.78 1551 1546 1541 1536 1575 1570 1565 1560 93.79 521.3 464 543.1 90.98 1555 1550 1545 1540 1578 1573 1568 1563 93.99 520.2 465 541.9 91.18 1558 1553 1548 1543 1582 1577 1572 1567 94.19 519.1 466 540.8 91.37 1562 1556 1551 1546 1585 1580 1575 1570 94.40 518.0 467 539.6 91.57 1565 1560 1555 1550 1589 1584 1578 1573 94.60 516.9 468 538.5 91.77 1568 1563 1558 1553 1592 1587 1582 1577 94.80 515.7 469 537.3 91.96 1572 1566 1561 1556 1595 1590 1585 1580 95.00 514.6 470 536.2 92.16 1575 1570 1565 1560 1599 1594 1^88 1583 95.20 513.5 471 535.0 92.35 1578 1573 1568 1563 1602 1597 1592 1587 95.40 512.4 472 533.9 92.55 1582 1576 1571 1566 1606 1600 1595 1590 95.61 511.3 473 532.8 92.74 1585 1580 1575 1570 1609 1604 1598 1593 95.81 510.3 474 531.7 92.94 1588 1583 1578 1573 1612 1607 1602 1597 96.01 509.2 475 530.5 93.14 1592 1595 1586 1590 1581 1585 1576 1616 1611 1605 1600 96.21 508.1 476 529.4 93.33 1580 1619 1614 1609 1604 96.42 507.1 477 528.3 93.53 1598 1602 1605 1593 1597 1600 1588 1591 1595 1583 1623 1617 1612 1607 96.62 506.0 478 527.2 93.73 1586 1626 1621 1615 1610 96.82 504.9 479 526.1 93.92 1589 1629 1624 1619 1614 97.02 503.9 480 525.0 94.12 1608 1603 1598 1593 1633 1627 1622 1617 97.22 502.8 481 523.9 94.31 1612 1615 1607 1610 1601 1605 1596 1636 1631 1626 1620 97.43 501.8 482 522.8 94.51 1599 1640 1634 1629 1624 97.63 500.8 483 521.7 94.71 1619 1613 1608 1603 1643 1638 1632 1627 97.83 499.7 484 520.7 94.90 1622 1625 1629 1632 1635 1639 1617 1620 1623 1627 1630 1633 1611 1615 1618 1621 1625 1628 1606 1646 1641 1636 1630 98.03 498.7 485 519.6 95.10 1609 1650 1644 1639 1634 98.24 497.7 486 518.5 95.30 1613 1653 1648 1642 1637 98.44 496.6 487 517.5 95.49 1616 1656 1651 1646 1640 98.64 495.6 488 516.4 95.69 1619 1660 1655 1649 1644 98.84 494.6 489 515.3 95.88 1623 NOTE: When using column 1, multiply well as by the key number. < ■ When using column 2, multiply or divide the key number. or divide (as the case may be) by 11, as (as the case may be) by 9, as well as by 22 TABLE A — Key Numbers 14% UX% 14X% 14%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. AT 20.40 15% 15M% 15X% 15%% 1323 1319 1322 1314 1318 1310 1313 80.85 604.7 400 630.0 78.43 1306 1301 1297 1293 1326 81.05 603.2 401 628.4 78.63 1309 1304 1300 1296 1330 1325 1329 1332 1335 1321 1324 1327 1331 1316 1320 1323 1326 81.26 601.7 402 626.9 78.82 1312 1308 1303 1299 1333 81.46 600.2 403 625.3 79.02 1315 1311 1307 1302 1336 81.66 598.7 404 623.8 79.22 1319 1314 1310 1305 1340 81.86 597.2 405 622.2 79.41 1322 1317 1313 1309 1343 1338 1334 1330 82.07 595.7 406 620.7 79.61 1325 1321 1316 1312 1346 1342 1345 1337 1341 1333 1336 82.27 594.3 407 619.2 79.80 1328 1324 1320 1315 1349 82.47 592.8 408 617.7 80.00 1332 "1335 1327 "1330" 1323 1326 1318 1353 1348 1344 1339 82.67 591.4 409 616.1 80.20 1322 1356 1352 1347 1343 82.87 589.9 410 614.6 80.39 1338 1334 1329 1325 1359 1355 1350 1346 83.07 588.5 411 613.1 80.59 1341 1337 1332 1328 1363 1358 1354 1349 83.28 587.1 412 611.7 80.79 1345 1340 1336 1331 1366 1361 1357 1352 83.48 585.6 413 610.2 80.98 1348 1343 1339 1334 1369 1365 1360 1356 83.68 584.2 414 608.7 81.18 1351 1347 1342 1338 1373 1368 1363 1359 83.88 582.8 415 607.2 81.37 1355 1350 1345 1341 1376 1371 1367 1362 84.09 581.4 416 605.8 81.57 1358 1353 1349 1344 1379 1375 1370 1366 84.29 580.0 417 604.3 81.77 1361 1356 1352 1347 1382 1378 1373 1369 84.49 578.6 418 602.9 81.96 1364 1360 1355 1351 1386 1381 1377 1372 84.69 577.2 419 601.4 82.16 1368 1363 1358 1354 1389 1385 1380 1375 84.89 575.9 420 600.0 82.35 1371 1366 1362 1357 1392 1388 1383 1379 85.10 574.5 421 598.6 82.55 1374 1369 1365 1360 1396 1391 1386 1382 85.30 573.1 422 597.1 82.74 1377 1381 1373 1376 1368 1371 1364 1399 1394 1390 1385 85.50 571.8 423 595.7 82.94 1367 1402 1398 1393 1388 85.70 570.5 424 594.3 83.14 1384 1387 1379 1383 1375 1378 1370 1406 1401 1396 1392 85.91 569.1 425 592.9 83.33 1373 1409 1404 1400 1395 86.11 567.8 426 591.5 83.53 1390 1386 1381 1377 1412 1408 1403 1398 86.31 566.4 427 590.2 83.73 1394 1397 1389 1392 1384 1388 1380 1416 1411 1406 1402 86.51 565.1 428 588.8 83.92 1383 1419 1414 1410 1405 86.71 563.8 429 587.4 84.12 1400 1396 1391 1386 1422 1418 1413 1408 86.92 562.5 430 586.0 84.31 1403 1407 1399 1402 1394 1397 1389 1425 1421 1416 1411 87.12 561.2 431 584.7 84.51 1393 1429 1424 1419 1415 87.32 559.9 432 583.3 84.71 1410 1413 1416 1405 1409 1412 1401 1404 1407 1396 1432 1427 1423 1418 87.52 558.6 433 582.0 84.90 1399 1435 1431 1426 1421 87.72 557.3 434 580.6 85.10 1402 1439 1434 1429 1424 87.93 556.0 435 579.3 85.29 1420 1415 1410 1406 1442 1437 1433 1428 88.13 554.7 436 578.0 85.49 1423 1418 1414 1409 1445 1441 1436 1431 88.33 553.5 437 576.7 85.69 1426 1422 1417 1412 1449 1444 1439 1434 88.53 552.2 438 575.3 85.88 1430 1425 1420 1415 1452 1447 1442 1438 88.73 550.9 439 574.0 86.08 1433 1428 1423 1418 1455 1450 1446 1441 88.94 549.7 440 572.7 86.27 1436 1439 1431 1435 1427 1430 1422 1459 1454 1449 1444 89.14 548.4 441 571.4 86.47 1425 1462 1457 1452 1447 89.34 547.2 442 570.1 86.67 1443 1438 1433 1428 1465 1460 1456 1451 89.54 546.0 443 568.8 86.86 1446 1441 1436 1431 1469 1464 1459 1454 89.74 544.7 444 567.6 87.06 1449 1444 1440 1435 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A— Key Numbers 23 14% 14%% 14X% 14%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. AT 20.40 15% 15%% 15%% 15%% 1472 1467 1462 1457 89.95 543.5 445 566.3 87.25 1475 1470 1465 1461 1478 1474 1469 1464 1482 1477 1472 1467 1485 1480 1475 1470 1488 1483 1479 1474 1492 1487 1482 1477 1495 1490 1485 1480 1498 1493 1488 1483 • 1502 1497 1492 1487 1505 1500 1495 1490 1508 1503 1498 1493 1511 1507 1502 1497 1515 1510 1505 1500 1518 1513 1508 1503 1521 1516 1511 1506 1525 1520 1515 1510 1528 1523 1518 1513 1531 1526 1521 1516 1535 1530 1525 1519 1538 1533 1528 1523 1541 1536 1531 1526 1545 1540 1534 1529 1548 1543 1538 1533 1551 1546 1541 1536 1554 1549 1544 1539 1558 1553 1548 1542 1561 1556 1551 1546 1564 1559 1554 1549 1568 1563 1557 1552 1571 1566 1561 1556 1574 1569 1564 1559 1578 1572 1567 1562 1581 1576 1571 1565 1584 1579 1574 1569 1588 1582 1577 1572 1591 1586 1580 1575 1594 1589 1584 1578 1597 1592 1587 1582 1452 1448 1443 1438 90.15 542.3 446 565.0 87.45 1456 1451 1446 1441 90.35 541.1 447 563.8 87.65 1459 1454 1449 1444 90.55 539.9 448 562.5 87.84 1462 1457 1452 1448 90.76 538.7 449 561.3 88.04 1465 1461 1456 1451 90.96 537.5 450 560.0 88.23 1469 1464 1459 1454 91.16 536.3 451 558.8 88.43 1472 1467 1462 1457 91.36 535.1 452 557.5 B8.63 1475 1470 1465 1461 91.56 533.9 453 556.3 88.82 1479 1474 1469 1464 91.77 532.7 454 555.1 89.02 1482 1477 1472 1467 91.97 531.6 455 553.8 89.22 1485 1480 1475 1470 92.17 530.4 456 92.37 529.2 457 5 52.6 "551^ 89.41 1488 1483 1478 1473 89.61 1492 1487 1482 1477 92.58 528.1 458 550.2 89.80 92.78 526.9 459 549.0 90.00 92.98 525.8 460 547.8 90.20 93.18 524.7 461 546.6 90.39 93.38 523.6 462 545.4 90.59 93.59 522.5 463 544.3 90.78 93.79 521.3 464 543.1 90.98 93.99 520.2 465 541.9 91.18 94.19 519.1 466 540.8 91.37 94.40 518.0 467 539.6 91.57 94.60 516.9 468 538.5 94.80 515.7 469 537.3 91.77 ~9lT96 95.00 514.6 470 536.2 92.16 95.20 513.5 471 535.0 92.35 1495 1490 1485 1480 1498 1493 1488 1483 1501 1496 1491 1486 1505 1500 1495 1490 1508 1503 1498 1493 1511 1506 1501 1496 1514 1509 1504 1499 1518 1513 1508 1503 1521 1516 1511 1506 1524 1519 1514 1509 1528 1522 1517 1512 1531 1526 1521 1515 1534 1529 1524 1519 1537 1532 1527 1522 95.40 512.4 472 533.9 92.55 1541 1535 1530 1525 95.61 511.3 473 95.81 510.3 474 532.8 "53Tr 92.74 1544 1539 1534 1528 92.94 1547 1542 1537 1532 96.01 509.2 475 530.5 93.14 1550 1545 1540 1535 96.21 508.1 476 529.4 93.33 1554 1548 1543 1538 96.42 507.1 477 528.3 93.53 1557 1552 1547 1541 96.62 506.0 478 527.2 93.73 1560 1555 1550 1545 96.82 504.9 479 526.1 93.92 1563 1558 1553 1548 97.02 503.9 480 525.0 94.12 1567 1561 1556 1551 97.22 502.8 481 523.9 94.31 1570 1565 1559 1554 97.43 501.8 482 522.8 94.51 1573 1568 1563 1557 97.63 500.8 483 521.7 94.71 1576 1571 1566 1561 1601 1596 1590 1585 1604 1599 1594 1588 97.83 499.7 484 520.7 94.90 1580 1574 .1569 1564 98.03 498.7 485 519.6 95.10 1583 1578 1572 1567 1607 1602 1597 1592 98.24 497.7 486 518.5 95.30 1586 1581 1576 1570 1611 1605 1600 1595 98.44 496.6 487 517.5 95.49 1589 1584 1579 1574 1614 1609 1603 1598 98.64 495.6 488 516.4 95.69 1593 1587 1582 1577 1617 1612 1607 1601 98.84 494.6 489 515.3 95.88 1596 1591 1585 1580 NOTE: When using column 1, multiply well as by the key number. When using column 2, multiply or divide the key number. or divide (as the case may be) by 11, as (as the case may be) by 9, as well as by 24 TABLE A— Key Numbers 16% IGXfo 16X% 16%% 1 MARKS a FCS. 3 STG. 4 SID. AT 25.20 5 STG. AT 20.40 17% 17Ji% 17X% 175i% 1288 1284 1279 1275 80.85 604.7 400 630.0 78.43 1271 1266 1262 1258 1291 1287 1283 1278 81.05 603.2 401 628.4 78.63 1274 1277 1270 1273 1265 1268 1261 1295 1290 1293 1297 1286 1289 1292 1281 1285 1288 81.26 601.7 402 626.9 78.82 1264 1298 81.46 600.2 403 625.3 79.02 1280 1276 1272 1267 1301 81.66 598.7 404 623.8 79.22 1283 1287 1279 1282 1275 1278 1270 1304 1300 1295 1291 81.86 597.2 405 622.2 79.41 1273 1307 1303 1299 1294 82.07 595.7 406 620.7 79.61 1290 1285 1281 1277 1311 1306 1302 1297 82.27 594.3 407 619.2 79.80 1293 1289 1284 1280 1314 1309 1305 1301 82.47 592.8 408 617.7 80.00 1296 1292 1287 1283 1317 1313 1308 1304 82.67 591.4 409 616.1 80.20 1299 1295 1290 1286 1320 1316 1311 1307 82.87 589.9 410 614.6 80.39 1302 1298 1294 1289 1324 1319 1315 1310 83.07 588.5 411 613.1 80.59 1306 1301 1297 1292 1327 1322 1318 1313 83.28 587.1 412 611.7 80.79 1309 1304 1300 1295 1330 1326 1321 1317 83.48 585.6 413 610.2 80.98 1312 1308 1303 1299 1333 1329 1324 1320 83.68 584.2 414 608.7 81.18 1315 1311 1306 ' 1302 1336 1332 1327 1323 83.88 582.8 415 607.2 81.37 1318 1314 1309 1305 1340 1335 1331- 1326 84.09 581.4 416 605.8 81.57 1322 1317 1313 1308 1343 1338 1334 1329 84.29 580.0 417 604.3 81.77 1325 1320 1316 1311 1346 1342 1345 1337 1340 1332 1336 84.49 578.6 418 602.9 81.96 1328 1323 1319 1314 1349 84.69 577.2 419 601.4 82.16 1331 1326 1322 1317 1353 1348 1351 1343 1347 1339 1342 84.89 575.9 420 600.0 82.35 1334 1330 1325 1320 1356 85.10 574.5 421 598.6 82.55 1337 1333 1328 1324 1359 1354 1350 1345 85.30 573.1 422 597.1 82.74 1341 1336 1331 1327 1362 1358 1353 1348 85.50 571.8 423 595.7 82.94 1344 1339 1335 1330 1365 1361 1356 1352 85.70 570.5 424 594.3 83.14 1347 1342 1338 1333 1369 1364 1359 1355 85.91 569.1 425 592.9 83.33 1350 1346 1341 1336 1372 1367 1363 1358 86.11 567.8 426 591.5 83.53 1353 1349 1344 1339 1375 1370 1366 1361 86.31 566.4 427 590.2 83.73 1357 1352 1347 1342 1378 1374 1369 1364 86.51 565.1 428 588.8 83.92 1360 1355 1350 1346 1382 1377 1372 1368 86.71 563.8 429 587.4 84.12 1363 1358 1354 1349 1385 1380 1375 1371 86.92 562.5 430 586.0 84.31 1366 1361 1357 1352 1388 1383 1379 1374 87.12 561.2 431 584.7 84.51 1369 1365 1360 1355 1391 1386 1382 1377 87.32 559.9 432 583.3 84.71 1372 1368 1363 1358 1394 1390 1385 1380 87.52 558.6 433 582.0 84.90 1376 1371 1366 1361 1398 1393 1388 1383 87.72 557.3 434 580.6 85.10 1379 1374 1369 1365 1401 1396 1391 1387 87.93 556.0 435 579.3 85.29 1382 1377 1372 1368 1404 1399 1403 1395 1398 1390 1393 88.13 554.7 436 578.0 85.49 1385 1380 1376 1371 1407 88.33 553.5 437 576.7 85.69 1388 1384 1379 1374 1411 1406 1401 1396 88.53 552.2 438 575.3 85.88 1391 1387 1382 1377 1414 1409 1404 1399 88.73 550.9 439 574.0 86.08 1395 1390 1385 1380 1417 1412 1407 1403 88.94 549.7 440 572.7 86.27 1398 1393 1388 1383 1420 1415 1411 1406 89.14 548.4 441 571.4 86.47 1401 1396 1391 1387 1423 1419 1414 1409 89.34 547.2 442 570.1 86.67 1404 1399 1395 1390 1427 1422 1425 1417 1420 1412 1415 89.54 546.0 443 568.8 86.86 1407 1403 1398 1393 1430 89.74 544.7 444 567.6 87.06 1411 1406 1401 1396 may be) by 11, as NOTE: When using column 1, multiply or .divide (as the case ■well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. TABLE A- -Key Numbers 25 16% 16>^% 16X% 16%% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. IT 20.40 17% nVifo 17%% 17%% 1433 1428 1423 1419 89.95 543.5 445 566.3 87.25 1414 1417 1409 1412 1404 1407 1399 :^436 1431 1435 1427 1430 1422 1425 90.15 542.3 446 565.0 87.45 1402 1439 90.35 541.1 447 563.8 87.65 1420 1415 1410 1405 1443 1438 1433 1428 90.55 539.9 448 562.5 87.84 1423 1418 1413 1409 1446 1441 1436 1431 90.76 538.7 449 561.3 88.04 1426 1422 1417 1412 1449 1444 1439 1434 90.96 537.5 450 560.0 88.23 1430 1425 1420 1415 1452 1447 1443 1438 91.16 536.3 451 558.8 88.43 1433 1428 1423 1418 1456 1451 1446 1441 91.36 535.1 452 557.5 88.63 1436 1431 1426 1421 1459 1454 1449 1444 91.56 533.9 453 556.3 88.82 1439 1434 1429 1424 1462 1457 1452 1447 91.77 532.7 454 555.1 89.02 1442 1437 1432 1427 1465 1460 1455 1450 91.97 531.6 455 553.8 89.22 1445 1441 1436 1431 1468 1464 1459 1454 92.17 530.4 456 552.6 89.41 1449 "1452 "T455" 1458 1444 ""1447 1450 1453 1439 1442 1445 1448 1434 1472 1467 1462 1457 92.37 529.2 457 551.4 89.61 1437 1475 1470 1465 1460 92.58 528.1 458 550.2 89.80 1440 1478 1473 1468 1463 92.78 .526.9 459 549.0 90.00 1443 1481 1476 1471 1466 92.98 525.8 460 547.8 90.20 1461 "1465" 1456 ""1460~ 1451 ""1455 1446 1485 1480 1475 1470 93.18 524.7 461 546.6 90.39 1449 1488 1483 1478 1473 93.38 523.6 462 545.4 90.59 1468 1463 1458 1453 1491 1486 1481 1476 93.59 522.5 463 544.3 90.78 1471 1466 1461 1456 1494 1489 1484 1479 93.79 521.3 464 543.1 90.98 1474 1469 1464 1459 1497 1492 1487 1482 93.99 520.2 465 541.9 91.18 1477 1472 1467 1462 1501 1496 1491 1485 94.19 519.1 466 540.8 91.37 1480 1475 1470 1465 1504 1499 1494 1489 94.40 518.0 467 539.6 91.57 1484 1479 1473 1468 1507 1502 1497 1492 94.60 516.9 468 538.5 91.77 1487 1482 1477 1471 1510 1505 1500 1495 94.80 515.7 469 537.3 91.96 1490 1485 1480 1475 1514 1508 1503 1498 95.00 514.6 470 536.2 92.16 1493 1488 1483 1478 1517 1512 1507 1501 95.20 513.5 471 535.0 92.35 1496 1491 1486 1481 1520 1515 1510 1505 95.40 512.4 472 533.9 92.55 1499 1494 1489 1484 1523 1518 1513 1508 95.61 511.3 473 532.8 92.74 "92794" 1503 1497 1492 1487 1526 1521 1516 1511 95.81 510.3 474 531.7 1506 1501 1496 1490 1530 1525 1519 1514 98.01 509.2 475 530.5 93.14 1509 1504 1499 1493 1533 1528 1523 1517 96.21 508.1 476 529.4 93.33 1512 1507 1510 1502 1505 1497 1536 1531 1526 1521 96.42 507.1 477 528.3 93.53 1515 1500 1539 1534 1529 1524 96.62 506.0 478 527.2 93.73 1519 1513 1508 1503 1543 1537 1532 1527 96.82 504.9 479 526.1 93.92 1522 1516 1511 1506 1546 1541 1535 1530 97.02 503.9 480 525.0 94.12 1525 1520 1514 1509 1549 1544 1539 1533 97.22 502.8 481 523.9 94.31 1528 1523 1518 1512 1552 1547 1542 1537 97.43 501.8 482 522.8 94.51 1531 1526 1521 1515 1555 1550 1545 1540 97.63 500.8 483 521.7 94.71 1534 1529 1524 1519 1559 1553 1548 1543 97.83 . 499.7 484 520.7 94.90 95.10 1538 1532 1527 1522 1562 1557 1551 1546 98.03 498.7 485 519.6 1541 1535 1530 1525 1565 1560 1555 1549 98.24 497.7 486 518.5 95.30 1544 1539 1533 1528 1568 1563 1558 1552 98.44 496.6 487 517.5 95.49 "95.69 1547 1542 1537 1531 1572 1566 1561 1556 98.64 495.6 488 516.4 1550 1545 1540 1534 1575 1569 1564 1559 98.84 494.6 489 515.3 95.88 1553 1548 1543 1538 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. 26 TABLE A— Key Numbers 18% 18)i% 18X% 18K% 1 MARKS 2 FCS. 3 STG. 4 STG. AT 25.20 5 STG. AT 20.40 19% 19X% 19X% 19%% 1253 1249 1252 1255 1258 1245 1248 1251 1254 1240 1243 1246 1250 80.85 604.7 400 630.0 78.43 1236 1232 1227 1223 1256 81.05 603.2 401 628.4 78.63 1239 1235 1230 1226 1260 81.28 18'1T46~ 601.7 402 626.9 78.82 1242 1238 1233 1229 1263 600.2 403 625.3 79.02 1245 1241 1236 1232 1266 1261 1265 1268 1271 1274 1257 1260 1263 1266 1270 1253 1256 1259 1262 1265 81.66 598.7 404 623.8 79.22 1248 1244 1240 1235 1269 81.86 597.2 405 622.2 79.41 1251 1247 1243 1238 1272 82.07 595.7 406 620.7 79.61 1254 1250 1246 1241 1275 82.27 594.3 407 619.2 79.80 1258 1261 1253 "T256" 1249 1252 1244 1278 82.47 592.8 408 617.7 ""616.1 80.00 80.20 1247 1282 1277 1273 1268 82.67 591.4 409 1264 1259 1255 1250 1285 1280 1283 1286 1276 1279 1282 1271 1274 1277 82.87 589.9 410 614.6 80.39 ~80:59" 1267 1262 1258 1253 1288 83.07 588.5 411 613.1 1270 1265 1261 1256 1291 83.28 587.1 412 611.7 80.79 1273 1269 1264 1260 1294 1290 1285 1281 83.48 585.6 413 610.2 80.98 1276 1272 1267 1263 1297 1293 1288 1284 83.68 584.2 414. 608.7 81.18 1279 1275 1270 1266 1300 1296 1291 1287 83.88 582.8 415 607.2 81.37 1282 1278 1273 1269 1303 1299 1294 1290 84.09 581.4 416 605.8 81.57 1285 1281 1276 1272 1307 1302 1297 1293 84.29 580.0 417 604.3 81.77 1288 1284 1279 1275 1310 1305 1301 1296 84.49 578.6 418 602.9 81.96 1292 1287 1282 1278 1313 1308 1304 1299 84.69 577.2 419 601.4 82.16 1295 1290 1285 1281 1316 1311 1307 1302 84.89 575.9 420 600.0 82.35 1298 1293 1289 1284 1319 1314 1310 1305 85.10 574.5 421 598.6 82.55 1301 1296 1292 1287 1322 1318 1313 1308 85.30 573.1 422 597.1 82.74 1304 1299 1295 1290 1325 1321 1316 1311 85.50 571.8 423 595.7 82.94 1307 1302 1298 1293 1329 1324 1319 1315 85.70 570.5 424 594.3 83.14 1310 1305 1301 1296 1332 1327 1322 1318 85.91 569.1 425 592.9 83.33 83.53 1313 1308 1304 1299 1335 1330 1325 1321 86.11 567.8 426 591.5 1316 1312 1307 1302 1338 1333 1329 1324 86.31 566.4 427 590.2 83.73 1319 1315 1310 1305 1341 1336 1332 1327 86.51 565.1 428 588.8 83.92 1322 1318 1313 1308 1344 1340 1335 1330 86.71 563.8 429 587.4 84.12 1325 1321 1316 1312 1347 1343 1338 1333 86.92 562.5 430 586.0 84.31 1329 1324 1319 1315 1350 1346 1349 1352 1341 1344 1347 1336 1339 1343 87.12 561.2 431 584.7 84.51 1332 1327 1322 1318 1364 87.32 559.9 432 583.3 84.71 1335 1330 1325 1321 1357 87.52 558.6 433 582.0 84.90 1338 1333 1328 1332 1324 1360 1355 1358 1350 1354 1346 1349 87.72 557.3 434 580.6 85.10 1341 1336 1327 1363 87.93 556.0 435. 579.3 85.29 1344 1339 1335 1330 1366 1361 1364 1357 1360 1352 1355 88.13 554.7 436 578.0 85.49 85.69 1347 1342 1338 1333 1369 88.33 553.5 437 576.7 1350 1345 1341 1336 1372 1368- 1371 1374 1363 1366 1369 1358 1361 1364 88.53 552.2 438 575.3 85.88 1353 1349 1344 1339 1376 88.73 550.9 439 574.0 86.08 1356 1352 1347 1342 1379 88.94 549.7 440 572.7 86.27 86.47 1360 1355 1350 1345 1382 1377 1380 1383 1386 1372 1375 1378 1381 1367 1370 1374 1377 89.14 548.4 441 571.4 1363 1358 1353 1348 1385 89.34 547.2 442 570.1 85.67 1366 1361 1356 1351 1388 89.54 546.0 443 568.8 86.88 1369 1364 1359 '1354 1391 89.74 544.7 444 567.6 87.06 1372 1367 1362 1357 iNUiJii: wnen using commn i, multiply well as by the key number. When using column 2, multiply or divide the key number. or divide (as the case may be) by 11, as (as the case may be) by 9, as well as by TABLE A- -Key Numbers 27 18% 18M% 18X% 18%% 1 MARKS 2 FCS. 3 STB. 4 STG. AT 25.20 5 STii. AT 20.40 19% lQ}i% 19X% 19%% 1394 1389 1385 1380 8d.95 543.5 445 566.3 87.25 1375 1370 1365 1360 1397 1393 1388 1383 90.15 542.3 446 565.0 87.45 1378 1373 1368 1363 1401 1396 1391 1386 90.35 541.1 447 563.8 87.65 1381 1376 1371 1366. 1404 1399 1394 1389 90.55 539.9 448 562.5 87.84 1384 1379 1374 1370 1407 1402 1397 1392 90.76 538.7 449 561.3 88.04 1387 1382 1378 1373 1410 1405 1400 1395 90.96' 537.5 450 560.0 88.23 1390 1385 1381 1376 1413 1408 1403 1398 91.16 536.3 451 558.8 88.43 1393 1389 1384 1379 1416 1411 1406 1401 91.36 535.1 452 557.5 88.63 1397 1392 1387 1382 1419 1414 1410 1405 91.56 533.9 453 556.3 88.82 1400 1395 1390 1385 1422 1418 1413 1408 91.77 532.7 454 555.1 89.02 1403 1398 1393 1388 1426 1421 1416 1411 91.97 531.6 455 553.8 89.22 1406 1401 1396 1391 1429 1424 1419 1414 92.17 530.4 456 552.6 89.41 1409 1412 1404 1407 1399 1402 1394 1432 1427 1422 1417 92.37 529.2 457 551.4 89.61 1397 1435 1430 1425 1420 92.58 528.1 458 550.2 89.80 1415 1410 1405 1400 1438 1433 1428 1423 92.78 526.9 459 549.0 90.00 ~90".20" 1418 1421 1424 1413 1416 1419 1408 1411 1414 1403 1441 1436 1431 1426 92.98 525.8 460 547.8 •1406 1444 1439 1434 1429 93.18 524.7 461 546.6 90.39 1409 1448 1443 1437 1432 93.38 523.6 462 545.4 90.59 1427 1422 1417 1412 1451 1446 1441 1436 93.59 522.5 463 544.3 90.78 1431 1426 1420 1415 1454 1449 1444 1439 93.79 521.3 464 543.1 90.98 1434 1429 1424 1418 1457 1452 1447 1442 93.99 520.2 465 541.9 91.18 1437 1440 1432 1435 1427 1430 1422 1460 1455 1450 1445 94.19 519.1 466 540.8 91.37 1425 1463 1458 1453 1448 94.40 518.0 467 539.6 91.57 1443 1438 1433 -1428 1466 1461 1456 1451 94.60 516.9 468 538.5 91.77 1446 1441 1436 1431 1470 1464 1459 1454 94.80 515.7 469 537.3 91.96 1449 1444 1439 1434 1473 1468 1462 1457 95.00 514.6 470 536.2 92.16 1452 1447 1442 1437 1476 1471 1465 1460 95.20 513.5 471 535.0 92.35 1455 1458 1450 1453 1445 1448 1440 1479 1474 1469 1463 95.40 512.4 472 533.9 92.55 1443 1482 1477 1472 1467 95.61 511.3 473 532.8 92.74 "92^94" 1461 1465 1456 1459 1451 1454 1446 1485 1480 1475 1470 95.81 510.3 474 531.7 1449 1488 1483 1478 1473 96.01 509.2 475 530.5 93.14 1468 1462 1457 1452 1491 1486 1481 1476 96.21 508.1 476 529.4 93.33 1471 1466 1460 1455 1495 1489 1484 1479 96.42 507.1 477 528.3 93.53 1474 1469 1463 1458 1498 1493 1487 1482 96.62 506.0 478 527.2 93.73 1477 1472 1467 1461 1501 1496 1490 1485 96.82 504.9 479 526.1 93.92 1480 1475 1470 1464 1504 1499 1493 1488 97.02 503.9 480 525.0 94.12 1483 1478 1473 1467 1507 1502 1497 1491 97.22 502.8 481 523.9 94,31 1486 1481 1476 1470 1510 1505 1500 1494 97.43 501.8 482 522.8 94.51 1489 1484 1479 1474 1513 1508 1503 1498 97.63 500.8 483 521.7 94.71 1492 1487 1482 1477 1517 1511 1506 1501 97.83 499.7 484 520.7 94.90 1495 1490 1485 1480 1520 1514 1509 1504 98.03 498.7 485 519.6 95.10 1499 1493 1488 1483 1523 1518 1512 1507 98.24 497.7 486 518.5 95.30 1502 1496 1491 1486 1526 1521 1515 1510 981.44 496.6 487 517.5 95.49 1505 1508 1499 1502 1494 1497 1489 . 1529 1524 1518 1513 98.64 495.6 488 516.4 95.69 1492 1532 1527 1521 1516 98.84 494.6 489 515.3 95.88 1511 1506 1500 1495 NOTE: When using column 1, multiply or divide (as the case may be) by 11, as well as by the key number. When using column 2, multiply or divide (as the case may be) by 9, as well as by the key number. 28 TO CHANGE FRANCS PER 50 KILOS C.I.F. AND 6% TO CENTS PER LB. C.I.F. A quick practical method of making the above change at about the present level of French Exchange is simply to add half the francs price to itself. This rule holds good for an exchange rate of 568% francs. The above formula may be expressed as 1% P - (1) where P is the franc price. If the actual exchange rate is 574 francs, then deduct 1% from the cents price. EXAMPLE: 220 francs per 50 kilos, C.I.P. and 6%, equals 33.00 cents per lb. C.I.P. If the f. o. b. port of shipment price is desired, and if the insurance is 8%, then the insurance is 8% of 33.00 plus the usual 10%, or 290.4 American points. If the ocean freight is 4c per lb., then the f. o. b. price is 33.00c less 6.90, or 26.10c. TO CHANGE CENTS PER LB. C.I.F. TO FRANCS PER 50 KILOS C.I.F. AND 6%. The rule is to take one-third of the cents price from itself. This will give the francs price at the exchange rate of 568% francs. Move decimal point one to the right. The formula may be expressed as Two-thirds of C (2) where C is the cents price G.I.P. EXAMPLE: If the price is 30.30c C.I.P., then 202.0 francs per 50 kilos C.I.P. and 6% is the equivalent. This is at 568% francs exchange. If exchange were 574 francs, then the result would be 1% more, or 204 francs. TO CHANGE FRANCS PER 50 KILOS C.I.F. AND 6% TO CENTS PER LB. C.F. The rule is to add half the francs price to itself and multiply the result by the difference between 1000 and 11 times the insurance rate. Move decimal point one to the left. The formula may be expressed as 3P (1000 — Hi) (3) 2 where P is the francs price and i is the total insurance rate. EXAMPLE: If the price is 220.0 francs, then half as much again is 33.00c. Multiply this by 1000 less 11 times 8, that is, 912, and we get the result, 30.10c C.P. If the freight is 4c per lb., then the equivalent per lb. f. o. b. the shipping port is 26.10c, the same result as appears above. As previously remarked, this is based on an exchange rate of 568% francs. 29 TO CHANGE CENTS PER LB. C.F. TO FRANCS PER 50 KILOS C.I.F. AND 6%. The rule is: To the cents price f. o. b. the port of shipment, add the freight and adjust for the difference in exchange, based on 568% francs. Divide this by the ■difference between 1000 and 11 times the insurance rate, tlien from this deduct one-third of itself. This gives the equivalent in francs per 50 kilos C.I.F. and 6%. The formula may be expressed as follows: 2 C — of (4) 3 1000 — Hi EXAMPLE: If the price is 29.20c C.F. and the insurance is 9%, then the result is two-thirds of 29.20 divided by 901, which comes to 216.06 francs per 50 kilos, C.I.F. and 6%. EXCHANGE EQUIVALENTS. It will be noticed that column 3 of Table A gives the sterling rates in whole numbers and the others in decimals. This was done for greater accuracy. On page 30 are given franc rates from 507% to 607 as they are usually quoted in commerce, with their equivalents in sterling at conversion rates of 25.20 francs and 25.25 francs per pound sterling. The third column of sterling rates is ex- plained below. On page 31 are given mark rates from 69o to 96?4c as they are usually quoted in commerce, with their equivalents in sterling at conversion rates of 20.40 marks and 20.45 marks per pound sterling. The third column of sterling rates is ex- plained below. These tables, B and C, are given chiefly for reference, but at the same time they can be used, when any franc or mark rate is given, to get the exact equivalent in sterling and thus key numbers be found in Table A. The rates in the third column of Table B can be used in the following way: If the price is 225 francs per 50 kilos and the rate of exchange 575 francs, whose equivalent in this column is 420.6, then multiply the key number corresponding to 420.6 and, say, 7%, by 225 and by 9, and we get the equivalent price in cents per pound, C.F. In the case of the marks table, get the key number in the same way, multiply the pfennigs price by this key number and then by 11, and the equivalent cost and freight price in cents per pound is obtained. 30 TABLE B FRENCH EXCHANGE. French Equivalent in Sterling | French Equivalent in Sterling Exchange Exchange per $1.00 at 25.20 at 25.25 See Note per $1.00 at 25.20 at 25,25 See Note 5071/2 496.6 497.5 476.7 553 455.7 456.6 437.4 510 494.1 495.1 474.5 554 454.9 455.8 436.6 5111/4 492.9 493.9 473.3 555 454.1 455.0 435.8 5i2y2 491.7 492.7 472.1 556 453.3 454.1 435.0 513% 490.5 491.5,. 470.9 557 452.4 453.3 434.2 515 489.3 490.3 469.6 558 - -451.6 452.5 433.5 515% 488.7 489.7 469.0 559 450.8 451.7 432.7 516%. 488.1 489.1 468.5 560 450.0 450.9 431.9 516ys 487.6 488.5 467.9 561 449.2 450.1 431.1 5171/2 487.0 487.9 467.4 562 448.4 449.3 430.4 5181/8 486.4 487.3 466.8 563 447.6 448.5 429.6 518% 485.8 486.8 466.2 564 446.8 447.7 428.8 519% 485.2 486.2 465.7 565 446.0 446.9 428.1 520 484.6 485.6 465.1 566 445.2 446.1 427.3 520% 484.0 485.0 464.5 567 444.4 445.3 426.6 521% 483.4 484.4 464.0 568 443.7 444.5 425.8 52178 482.9 483.8 463.4 569 442.9 443.8 425.1 523% 482.3 483.3 462.9 570 442.1 443.0 424.3 523% 481.7 482.7 462.3 571 441.3 442.2 423.6 523% 481.1 482.1 461.8 572 440.6 441.4 422.8 524% 480.6 481.5 461.2 573 439.8 440.7 422.1 525 480.0 481.0 460.7 574 439.0 439.9 421.4 525%, 479.4 480.4 460.1 575 438.3 439.1 420.6 526 y* 478.9 479.8 459.6 576 437.5 438.4 419.9 526ys 478.3 479.3 459.0 577 436.7 437.6 419.2 5271/2 477.7 478.7 458.5 578 436.0 436.8 418.5 5281/8 477.2 478.1 458.0 579 435.2 436.1 417.7. 528% 476.6 477.6 457.4 580 434.5 435.3 417.0 529% 476.0 477.0 456.9 581 433.7 434.6 416.3 530 475.5 476.4 456.3 582 433.0 433.8 415.6 530% 474.9 475.9 455.8 583 432.2 433.1 414.9 531% 474.4 475.3 455.2 584 431.5 432.4 414.2 53iy8 473.8 474.7 454.7 585 430.8 431.6 413.5 532y2 473.2 474.2 454.2 586 430.0 430.9 412.7 533y8 472.7 473.6 453.7 587 429.3 430.2 412.0 533% 472.1 473.1 453.1 588 428.6 429.4 411.3 534% 471.6 472.5 452.6 589 427.8 428.7 410.6 535 471.0 472.0 452.1 590 427.1 428.0. 409.9 536 470.2 471.1 451.2 591 426.4 427.2 409.2 537 469.3 470.2 450.4 592 425.7 426.5 408.6 538 468.4 469.3 449.6 593 425.0 425.8 407.9 539 467.6 468.4 448.7 594 424.3 425.1 407.2 540 466.7 467.6 447.9 595 423.5 424.4 406.5 541 465.8 466.7 447.1 596 422.8 423.7 405.8 542 464.9 465.9 446.2 597 422.1 423.0 405.1 543 464.1 465.0 445.4 598 421.4 422.2 404.5 544 463.2 464.2 444.6 599 420.7 421.5 403.8 545 462.4 463.3 443.8 600 420.0 420.8 403.1 546 461.5 462.5 443.0 601 419.3 420.1 402.4 547 460.7 461.6 442.2 602 418.6 419.4 401.8 548 459.9 460.8 441.4 603 417.9 418.7 401.1 549 459.0 459.9 440.6 604 417.2 418.0 400.4 550 458.2 459.1 439.8 605 416.5 417.4 399.8 551 457.3 458.3 439.0 606 415.8 416.7 399.1 552 456.5 457.4 438.2 607 415.2 416.0 398.5 NOTE: See explanation on page 29, second last paragraph. TABLE C GERMAN EXCHANGE. 31 Equivalent in Sterling Equivalent in Sterling Marks Exchange Marks Exchange at 20.40 at 20.45 See Note at 20.40 at 20.45 See Note 69 351.9 352.8 ' 341.4 83 423.3 424.3 410.6 69% 353.2 354.0 342.6 83% 424.6 425.6 411.9 69y2 354.4 355.3 343.8 83% 425.8 426.9 413.1 69% 355.7 356.6 345.0 83% 427.1 428.2 414.3 70 357.0 357.9 346.3 84 428.4 429.4 415.6 70 y4 358.3 359.1 347.5 84% 429.7 430.7 416.8 TOVa: 359.6 360.4 348.8 84% 430.9 432.0 418.1 70% 360.8 361.7 350.0 84% 432.2 433.3 419.3 71 362.1 363.0 351.3. 85 433.5 434.6 420.5 nVi 363.4 364.3 352.5 85% 434.8 435.8 421.8 711/2 364.6 365.5 353.7 85% 436.0 437.1 423.0 71% 365.9 366.8 355.0 85% 437.3 438.4 424.2 72 367.2 368.1 356.2 86 438.6 439.7 425.5 721/4 368.5 369.4 357.4 86% 439.9 440.9 426.7 72% 369.7 370.7 358.7 86% 441.1 442.2 427.9 72% 371.0 371.9 359.9 86% 442.4 443.5 429.2 73 372.3 373.2 361.1 87 443.7 444.8 430.4 73 y*! 373.6 374.5 362.3 87% 445.0 446.1 431.6 73y2 374.8 375.8 363.5 87% 446.2 447.3 432.9 73% 376.1 377.0 364.8 87% 447.5 448.6 434.1 74 377.4 378.3 366.1 88 448.8 449.9 435.4 74y4 378.6 379.6 367.3 88% 450.1 451.2 436.6 74y2 379.9 . 380.9 368.5 88% 451.3 452.5 437.8 74% 381.2 382.2 369.8 88% 452.6 ■ 453.7 439.0 75 382.5 383.5 371.0 89 453.9 455.0 440.3 75% 383.7 384.7 372.2 89% 455.2 456.3 441.5 75y2. 385.0 386.0 373.5 89% 456.4 457.6 442.8 75% 386.3 387.3 374.7 89% 457.7 458.8 444.0 76 387.6 388.5 1 376.0 90 459.0 460.1 445.3 76% 388.9 389.8 1 377.3 90% 460.3 461.4 446.5 76% 390.2 391.1 1 378.5 90% 461.5 462.7 447.7 76% 391.4 392.4 1 379.7 90% 1 462.8 464.0 449.0 77 392.7 393.7 1 380.9 91 1 464.1 465.2 450.2 77% 394.0 394.9 1 382.2 91% 1 465.4 466.5 451.4 77% 395.3 396.2 383.5 91% 1 466.6 1 467.8 452.7 77% 396.6 397.5 384.7 91% 1 467.9 1 469.1 1 453.9 78 397.8 398.8 1 385.9 92 1 469.2 1 470.4 1 455.2 78% 399.1 400.0 387.1 92% 1 470.5 1 471.6 1 456.4 78% 400.4 1 401.3 388.4 92% 1 471.7 1 472.9 1 457.7 78% 401.6 402.6 1 389.6 92% 1 473.0 1 474.2 1 458.9 79 402.9 403.9 1 390.8 93 1 474.3 1 475.5 1 460.1 79% 404.2 1 405.2 392.1 93% 475.6 1 476.7 1 461.3 79% 405.4 1 406.4 393.3 93% 476.8 1 478.0 1 462.6 79%' 406.7 407.7 1 394.5 93% 1 478.1 1 479.3 1 463.8 80 408.0 409.0 1 395.8 94 1 479.4 1 480.6 1 465.0 80% 409.3 1 410.3 1 397.0 94% 1 480.7 1 481.8 1 466.2 80% 410.5 411.6 398.3 94% 1 481.9 1 483.1 1 467.5 80% 1 411.8 412.8 399.5 94% 1 483.2 1 484.4 1 468.7 81 413.1 1 414.1 i 400.7 95 1 484.5' 1 485.7 1 470.0 81% 414.4 415.4 1 402.0 95% 1 485.8 1 487.0 1 471.2 81% 415.6 416.7 1 403.2 95% 1 487.0 1 488.2 1 472.5 81% 1 416.9 1 417.9 1 404.4 95% 1 488.3 1 489:5 1 473.7 82 418.2 1 419.2 1 405.7 96 1 489.6 1 490.8 1 474.9 82% 419.5 1 420.5 1 406.9 96% 1 490.9 1 492.1 1 476.2 82% 420.8 1 421.8 1 408.2 96% 1 492.1 1 493.4 1 477.4 82% 422.0 1 423.0 1 409.4 96%> 1 493.4 1 494.6 1 478.6 NOTE: See explanation on page 29, last paragraph. 32 PROFIT AND LOSS IN EXCHANGE. PENCE PRICES. The loss (or profit, as the case may be) in Exchange In American points may be calculated rapidly and correctly by the following formulae, when the "price is in pence and the reimbursement is in sterling, francs or marks: (1) When the reimbursement is in sterling: If P represents the pence price and d the discount in the sterling rate from 480, then the loss in exchange is found by multiplying P by d and then by 4.7, dividing the result by 12. This rule may be expressed as 4.7 P X d X (5) 12 where P is the pence price and d equals discount in the sterling rate from 480. Another way of expressing this is .4 times the price multiplied by the discount in exchange, though this is not as accurate as the former, but is all right for ordinary transactions. The latter may be expressed as P X d X .4 (6) where P is the pence price and d is the discount in the sterling rate from 480. EXAMPLE: If the price is 6 pence and the rate of exchange is 469, then d is 11, and the loss is 6 times 11 times 4.7, divided by 12, 05 roughly, 6 times 11 times .4, which is 26 American points. (2) When the reimbursement is in francs: If P represents the pence price, which is to be converted at 25.20, and the Exchange rate is in francs per dollar, then the loss in American points is found by multiplying P by 188 and by Pd, dividing the result by FR, where Fd is the difference between FR and 525 francs, and FR is the ruling rate in francs per dollar. This rule may be expressed by Pd P X 188 X (7) PR EXAMPLE: If P is 18 pence and P.R. is 575 francs, then the loss in exchange is 18 X 188 X 50 -;- 575, that is, 294 American points. (3) When the reimbursement is in marks: If the pence price is represented by P, which is to be converted at 20.40 per pound sterling, and the exchange rate is in cents per 4 marks, then less in American points is represented by the formula 2P X Md (8) where Md is the difference between the actual rate and 94%c. EXAMPLE: If the price is 18d, and the rate is 85, then the difference in ex- change is 9%, and the loss in exchange is therefore 2 X 18 X 9%, which is 328 American points. 33 PROFIT AND LOSS IN EXCHANGE— Continued. FRANCS PRICES. When the price is P francs per 50 kilos, and the actual franc rate is P.R. and the difference between P.R. and 525 francs, the basis, is represented by Pd, then the loss in exchange in American points can be found by the following formula: 10 Pd 1% X P X (9) P.R. EXAMPLE: If the price were 222 francs per 50 kilos, and 580 francs were the exchange rate, then the loss in exchange would be 222 X 1% X 550, divided by 580, which comes to 338 American points. MARKS PRICES. When the price is M marks per 50 kilos or M pfennigs per half kilo, and the actual mark rate is M.R., and the difference between M.R. is the basis rate of 94%, is represented by Md, then the loss in exchange in American points can be found by the following formula: M 21/8 X X Md (10) 10 EXAMPLE: If the marks price was 200 marks per 50 kilos, and the actual mark rate was 7Sc, then the loss in exchange is found by multi- plying 2% by 200, then by 16%, and dividing by 10, which gives the result, 685 American points. Loss or profit in exchange should be calculated, not on the gross price but on the gross price less 6%. This can be easily demonstrated or tested. On the following ten pages are given the actual losses or gains in American points for prices running from 6 pence to 22% pence, for sterling exchange running from 4.15 to 4.89, for franc rates running from 515 to 607 converted at 25.20, and for mark rates running from 81% to 96, converted at 20.40. Per rates and for prices not given in the tables, the losses can be obtained by interpolation, by noting the losses for the rates and prices actually given that are nearest to them. If prices extend beyond 22% pence, find the loss for half the price in question and then multiply by 2. 34 TABLE D- —Loss in Exchange 6d 6id 7(i 7id 8d 8Jd Stg. at 25.20 Fes. stg. Stg. at 2U.40 Mks. 9d 9Jd :od 10|d lO^d lO^d 153 165 178 191 204 216 607.2 415 81.37 229 242 255 261 267 274 150 163 175 188 200 213 605.8 416 81.57 226 238 251 257 263 269 148 160 173 185 197 210 604.3 417 81.77 222 234 247 253 259 265 146 158 170 182 194 206 602.9 41? 81.96 219 231 243 249 255 261 143 155 167 179 191 203 601.4 419 82.16 215 211 227 223 239 235 245 241 251 247 257 141 153 164 176 188 200 600.0 420 82.35 253 139 150 148 162 159 173 170 185 182 196 193 598.6 421 82.55 208 220 231 237 243 248 136 597.1 422 82.74 204 216 227 233 238 244 134 145 156 167 179 190 595.7 423 82.94 201 212 223 229 234 240 132 142 153 164 175 186 594.3 424 83.14 197 208 219 225 230 236 129 140 151 161 172 183 592.9 425 83.33 194 205 215 221 226 232 127 137 148 158 169 180 591.6 426 83.53 190 201 212 217 222 227 125 135 145 156 166 176 590.2 427 83.73 187. 197 208 213 218 223 122 132 143 153 163 173 588.8 428 83.92 183 194 204 209 214 219 120 130 140 150 160 170 587.4 429 84.12 180 190 200 205 210 215 117 127 137 147 157 166 586.0 430 84.31 176 186 196 201 206 210 115 125 134 144 153 163 584.7 431 84.51 173 182 192 197 201 206 113 122 132 141 150 160 583.3 432 84.71 169 179 188 193 197 202 110 120 129 138 147 156 582.0 433 84.90 166 175 184 189 193 198 108 117 126 135 144 153 580.6 434 85.10 162 171 180 185 189 194 106 114 123 132 141 150 579.3 435 85.29 159 167 176 181 185 189 103 112 121 129 138 146 578.0 436 85.49 155 164 172 177 181 185 101 109 118 126 135 143 576.6 437 85.69 152 160 168 173 177 181 99 107 115 123 132 140 575.3 438 85.88 148 1E6 164 169 173 177 96 104 112 120 128 136 574.0 439 86.08 145 153 161 165 169 173 94 102 110 117 125 133 572.7 440 86.27 141 149 157 161 164 168 92 99 107 114 122 130 571.4 441 86.47 137 145 153 156 160 164 89 97 104 111 119 127 570.1 442 86.67 134 141 149 152 156 160 87 94 101 109 116 123 588.8 443 86.86 130 138 145 148 152 156 85 92 99 106 113 120 557.6 444 87.06 127 134 141 144 148 152 82 89 96 103 110 117 566.3 445 87.25 123 130 137 140 144 147 80 86 93 100 106 113 565.0 446 87.45 120 126 133 136 140 143 78 84 90 97 103 110 563.8 447 87.65 116 123 129 132 136 139 75 81 88 94 100 107 552.5 448 87.84 113 119 125 128 132 135 73 79 85 91 97 103 561.2 449 88.04 109 115 112 121 118 124 120 127 123 131 70 76 74 82 79 88 85 94 91 100 97 580.0 558.8 450 451 88.23 88.43 106 102 126 68 108 114 116 119 122 TABLE D- -Loss in Exchange 35 6d 6id 7d 7id 8d 8Jd SIg. at 25.20 Fes. SiB. SIg. at 20.40 Mks. 9d gjd lOd lOJd lO^d 101 d 66 71 77 82 88 93 557.5 452 88.63 99 104 110 112 115 118 63 69 74 79 85 90 556.3 453 88.82 95 100 106 108 111 114 61 66 71 76 81 87 555.1 454 89.02 92 97 102 104 107 109 59 64 69 73 78 83 553.8 455 89.22 88 93 98 100 103 105 56 61 66 70 75 80 552.6 456 89.41 85 81 89 86 94 90 96 92 99 95 101 54 59 56 63 60 68 65 72 69 77 73 551.4 457 89.61 97 52 550.2 458 89.80 78 82 86 88 90 93 49 53 58 62 66 70 549.0 459 90.00 74 70 78 74 82 78 84 80 86 82 88 47 51 55 59 63 67 547.8 460 90.20 84 45 48 52 56 60 63 546.6 461 90.39 67 71 74 76 78 80 42 46 49 53 56 60 545.4 462 90.59 63 67 70 72 74 76 40 43 47 50 53 57 544.3 463. 90.78 60 63 67 68 70 72 38 41 44 47 50 53 543.1 464 90.98 56 60 63 64 66 67 35 38 41 44 47 50 541.9 465 91.18 53 56 59 60 62 63 33 36 38 41 44 47 540.8 466 91.37 49 52 55 56 58 59 31 33 36 38 41 43 539.6 467 91.57 46 48 51 52 53 55 28 31 33 35 38 40 538.5 468 91.77 42 -45 47 48 49 51 26 28 25 30 27 32 29 34 31 37 33 537.3 469 91.96 38 41 43 44 45 46 23 536.2 470 92.16 35 37 39 40 41 42 21 23 25 26 28 30 535,0 471 92.35 32 33 35 36 37 38 19 20 22 23 25 27 533.9 472 92.55 28 30 31 32 33 34 16 18 19 21 22 23 532.8 473 92.74 25 26 27 28 29 29 14 15 16 18 19 20 531.6 474 92.94 21 22 23 24 25 25 12 13 14 . 15 16 17 530.5 475 93.14 18 19 20 20 21 21 9 10 11 12 12 13 529.4 476 93.33 14 10 15 11 16 12 16 12 16 12 17 7 8 8 9 9 10 528.3 477 93.53 13 5 5 3 5 3 6 3 6 3 7 3 527.2 478 93.73 7 7 8 8 8 8 2 526.1 479 93.92 3 4 4 4 4 4 525.0 480 94.12 2 3 3 3 3 3 523.9* 481* 94.31* 3 4 4 4 4 4 5 5 5 6 6 7 522.8* 482* 94.51* 7 7 8 8 8 8 7 8 8 9 9 10 521.7* 483* 94.71* 10 11 12 12 12 13 9 10 11 12 12 13 520.7* 484* 94.90* 14 15 16 16 16 17 12 13 14 15 16 17 519.6* 485* 95.10* 18 19 20 20 21 21 14 15 16 18 19 20 518.5* 486* 95.30* 21 22 23 24 25 25 16 18 19 21 22 23 517.4* 487* 95.49* 25 26 27 28 29 29 19 20 22 23 25 27 516.4* 488* 95.69* 28 30 31 32 33 34 21 23 25 26 28 30 515.3* 489* 95.88* 32 33 35 36 37 38 * Indicates a gain in Exchange, instead of a loss. 36 TABLE D- -Loss in Exchange lid lUd Hid llld 12d 12Jd Stg. at 25.20 Fes. sig. Stg. at 20.40 Mks. 12id 12Jd 13d 13}d 13Jd 13|d 280 286 293 299 305 312 607.2 415 81.37 318 324 331 337 344 350 276 282 288 294 301 307 605.8 416 81.57 313 308 320 315 326 321 332 327 338 333 345 271 278 284 290 296 302 604.3 417 81.77 339 267 -273 279 285 291 297 602.9 418 81.96 303 310 316 322 328 334 263 269 275 281 287 293 601.4 419 82.16 299 305 311 316 322 328 258 264 270 276 282 288 600.0 420 82.35 294 300 305 311 317 323 254 260 266 271 277 283 598.6 421 82.55 289 295 300 306 312 318 250 256 261 267 273 278 597.1 422 82.74 284 290 295 301 307 312 245 251 257 262 268 273 595.7 423 82.94 279 285 290 296 301 307 241 247 252 258 263 269 594.3 424 83.14 274 280 285 291 296 301 237 242 248 253 258 264 592.9 425 83.33 269 275 280 285 291 296 233 238 243 248 254 259 591.6 426 83.53 264 270 275 280 285 291 228 234 239 244 249 254 590.2 427 83.73 259 265 269 275 280 285 224 229 234 239 244 249 588.8 428 83.92 255 260 265 270 275 280 220 225 230 235 240 245 587.4 429 84.12 250 255 260 265 270 275 215 220 225 230 235 240 586.0 430 84.31 245 250 255 260 264 269 211 216 221 225 230 235 584.7 431 84.51 240 245 249 254 259 264 207 212 216 221 226 230 583.3 432 84.71 235 240 244 249 254 258 202 207 212 216 221 225 582.0 433 84.90 230 235 239 244 248 253 198 203 207 212 216 221 580.6 434 85.10 225 230 234 239 243 248 194 198 203 207 211 216 579.3 435 85.29 220 225 229 233 238 242 190 194 198 202 207 211 578.0 436 85.49 215 220 224 228 233 237 185 189 194 198 202 206 576.6 437 85.69 210 215 219 223 227 232 181 185 189 193 197 201 575.3 438 85.88 206 210 214 .218 222 226 177 181 176 185 180 189 184 193 188 197 192 574.0 439 86.08 201 205 209 213 217 221 172 572.7 440 86.27 196 200 204 208 211 215 168 172 176 179 183 187 571.4 441 86.47 191 195 198 202 206 210 164 168 171 175 179 182 570.1 442 86.67 186 190 193 197 201 205 159 163 159 167 162 170 166 174 169 177 173 568.8 443 86.86 181 185 188 192 196 199 155 567.6 444 87.06 176 180 183 187 190 194 151 154 158 161 164 168 566.3 445 87.25 171 175 178 182 185 188 146 150 153 156 160 163 565.0 446 87.45 166 170 173 176 180 183 142 146 149 152 155 158 553.8 447 87.65 162 165 168 171 174 178 138 141 144 147 150 153 562.5 448 87.84 157 160 163 166 169 172 134 137 140 143 146 149 551.2 449 88.04 152 155 158 161 164 167 129 132 135 138 141 144 560.0 450 88.23 147 150 153 156 159 162 125 128 131 133 136 139 558.8 451 88.43 142 145 148 150 153 .156 TABLE D — Loss in Exchange 37 lid lljd lljd llfd 12d 12} d Stg. at 25.20 Fes. Slg. Stg. at 20.40 Mks. 12^d 12^d 13d 13}d 13^d ISjd 121 123 126 129 132 134 557.5 452 88.63 137 140 142 145 148 151 116 119 122 124 127 129 556.3 453 88.82 132 127 135 130 137 132 140 135 143 137 145 112 115 117 120 122 125 555.1 454 89.02 140 108 110 113 115 117 120 553.8 455 89.22 122 125 127 130 132 135 103 106 108 110 113 115 552.6 456 89.41 117 113 120 115 122 117 124 119 127 122 129 99 101 97 93 104 99 95 106 101 97 108 103 99 110 105 101 551.4 457 89.61 124 95 550.2 458 89.80 108 110 112 114 116 118 91 549.0 459 90.00 103 98 105 100 107 102 109 104 111 106 113 86 88 90 92 94 96 547.8 460 90.20 108 82 84 79 75 86 81 77 87 83 78 89 85 80 91 86 81 546.6 461 90.39 93 95 97 99 100 102 77 545.4 462 90.59 88 90 92 93 95 97 73 544.3 463 90.78 83 85 86 88 90 91 69 71 72 74 75 77 543.1 464 90.98 78 SO 81 83 85 86 65 66 68 69 70 72 541.9 465 91.18 73 75 76 78 79 81 60 62 57 53 63 59 54 64 60 55 66 61 56 67 62 57 540.8 466 91.37 68 64 70 65 71 66 73 67 74 69 75 56 539.6 467 91.57 70 52 538.5 468 91.77 59 60 61 62 63 65 47 48 50 51 52 53 537.3 489 91.96 54 49 55 50 56 51 57 52 58 53 59 43 44 45 46 47 48 536.2 470 92.16 54 39 40 40 41 42 43 535.0 471 92.35 44 39 45 40 46 41 47 41 48 42 49 34 35 36 37 38 38 533.9 472 92.55 43 30 31 31 32 33 34 532.8 473 92.74 34 29 35 30 36 30 36 31 37 32 38 26 26 27 28 28 29 531.6 474 92.94 32 21 22 22 23 23 24 530.5 475 93.14 24 25 25 26 26 27 17 18 18 18 19 19 529.4 476 93.33 20 20 20 21 21 21 13 13 13 14 14 14 528.3 477 93.53 15 15 15 15 16 16 9 9 9 9 9 10 527.2 478 93.73 10 10 10 10 10 11 .4 4 4 5 5 5 526.1 479 93.92 5 5 5 5 5 5 525.0 480 94.12 4 4 4 5 5 5 523.9* 481* 94.31* 5 5 5 5 5 5 9 9 9 9 9 10 522.8* 482* 94.51* 10 10 10 10 10 11 13 13 13 14 14 14 521.7* 483* 94.71* 15 20 15 20 15 20 15 21 16 21 16 17 18 18 18 19 19 520.7* 484* 94.90* 21 21 22 22 23 23 24 519.6* 485* 95.10* 24 29 34 25 30 35 25 30 36 26 31 36 26 32 37 27 26 26 27 28 28 29 518.5* 486* 95.30* 32 30 31 31 32 33 34 517.4* 487* 95.49* 38 34 35 36 37 38 38 516.4* 488* 95.69* 39 40 41 41 42 43 39 40 40 41 42 43 515.3* 489* 95.88* 44 45 46 47 48 49 * Indicates a gain in Exchange, instead of a loss. 38 TABLE D— Loss in Exchanie 14d 14}d 14id 14fd 15d 15}d SIg. at 25.20 Fes. Stg. Stg. at 20.40 Mks. 15^d I5|d 16d 16Jd 16Jd 16id 356 363 369 375 382 388 607.2 415 81.37 395 401 407 414 420 426 351 357 363 370 376 382 605.8 416 81.57 388 395 401 407 414 420 345 352 358 364 370 376 604.3 417 81.77 383 389 395 401 407 413 340 346 353 358 364 370 602.9 418 81.96 376 382 388 395 401 407 334 340 346 352 358 364 601.4 419 82.16 370 376 382 388 394 400 329 334 341 347 352 358 600.0 420 82.35 364 370 376 382 388 394 323 329 335 341 347 352 598.6 421 82.55 358 364 370 375 381 387 318 324 329 335 341 346 597.1 422 82.74 352 358 363 369 375 380 312 318 324 329 335 340 595.7 423 82.94 346 352 357 363 368 374 307 312 307 301 318 312 307 323 318 312 329 323 317 334 328 322 594.3 424 83.14 340 345 351 356 362 367 301 592.9 425 83.33 334 339 345 350 355 361 296 591.6 426 83.53 328 333 338 344 349 354 291 296 290 285 301 295 290 306 300 295 311 305 300 316 310 305 590.2 427 83.73 322 327 332 337 343 348 285 588.8 428 83.92 316 321 326 331 336 341 280 587.4 429 84.12 310 315 320 324 330 335 274 279 284 289 294 299 586.0 430 84.31 303 308 313 318 323 328 269 273 278 283 288 293 584.7 431 84.51 297 291 285 279 273 267 261- 302 296 290 284 278 271 265 307 301 294 288 282 276 269 312 305 299 293 286 280 274 317 310 304 297 291 284 278 321 263 268 273 277 282 287 583.3 432 84.71 315 258 262 267 271 276 281 582.0 433 84.90 308 252 257 251 245 261 255 250 266 260 254 270 264 258 275 269 263 580.6 434 85.10 302 247 579.3 435 85.29 295 241 578.0 436 85.49 289 236 240 244 248 253 257 576.6 437 85.69 282 230 234 Z38 243 247 251 575.3 438 85.88 255 249 259 253 263 257 267 261 271 265 275 225 229 233 237 241 245 574.0 439 86.08 269 219 223 227 231 235 239 572.7 440 86.27 243 247 251 255 258 262 214 218 221 225 229 233 571.4 441 86.47 237 241 244 248 252 256 208 212 216 219 223 227 570.1 442 86.67 231 234 238 242 245 249 203 206 201 210 ToT" 214 208 217 211 221 215 588.8 443 86.86 225 228 232 235 239 243 197 567.6 444 87.06 218 222 226 229 233 236 192 195 199 202 206 209 566.3 445 87.25 212 216 219 223 226 230 186 190 193 196 200 203 565.0 446 87.45 206 210 213 216 220 223 181 184 187 191 194 197 563.8 447 87.65 200 203 207 210 213 216 175 178 173 182 176 185 179 188 182 191 185 562.5 448 87.84 194 197 200 204 207 210 170 561.2 449 88.04 188 191 194 197 200 203 164 167 170 173 176 179 560.0 450 88.23 182 185 188 191 194 197 159 162 165 167 170 173 558.8 451 88.43 176 179 182 185 187 190 TABLE D- -Loss in Exchange 39 14d 14}d 14id 14id 15d 15}d SIg. at 25.20 Fes. Stg. Stg. at 20.40 Mks. 15Jd 15|d 16d 16}d 16Jd lajd 153 156 159 162 164 167 557.5 452 88.63 170 173 175 178 181 184 148 151 ,153 156 159 161 556.3 453 88.82 89.02 164 166 169 172 174 177 142 145 148 150 153 155 555.1 454 158 160 163 165 168 170 137 139 142 144 147 149 553.8 455 89.22 152 154 157 159 161 164 132 134 136 139 141 143 552.6 456 89.41 146 T40~ 133 148 142 ~136" 150 144 138 153 146 140 155 149 142 157 126 128 131 133 135 137 551.4 457 89.61 151 121 123 125 127 129 131 550.2 458 89.80 144 115 117 112 119 113 121 115 123 117 125 119 549.0 459 90.00 127 130 132 134 136 138 110 547.8 460 90.20 121 123 125 127 129 131 104 106 108 110 112 113 546.6 481 90.39 115 117 119 121 123 125 99 100 95 102 96 104 98 106 100 107 101 545.4 462 90.59 109 111 113 115 116 118 93 544.3 463 90.78 103 105 107 108 110 111 88 89 91 92 94 95 543.1 464 90.98 97 99 100 102 103 105 82 84 85 87 88 89 541.9 465 91.18 91 93 94 95 97 98 77 78 72 67 61 56 50 79 74 68 62 57 51 81 75 69 63 58 52 82 76 70 65 59 53 84 78 72 66 60 54 540.8 466 91.37 85 86 88 89 90 92 71 539.6 467 91.57 79 80 81 83 84 85 66 538.5 468 91.77 73 74 75 76 78 79 60 537.3 469 91.96 67 68 69 70 71 72 55 536.2 470 92.16 61 62 63 64 65 66 49 535.0 471 92.35 55 56 56 57 58 59 44 45 45 46 47 48 533.9 472 92.55 48 49 50 51 52 52 38 39 40 40 41 42 532.8 473 92.74 42 43 44 45 45 46 33 33 34 35 35 36 531.6 474 92.94 36 37 38 38 39 39 27 28 28 29 29 30 530.5 475 93.14 30 31 31 32 32 33 22 22 23 23 23 24 529.4 476 93.33 24 25 25 25 26 26 16 17 17 17 18 18 528.3 477 93.53 18 18 19 19 19 20 11 11 11 11 12 12 527.2 478 93.73 12 12 13 13 13 13 5 6 6 6 6 6 526.1 479 93.92 6 6 6 6 6 6 6 6 7 525.0 523.9* 480 ^481* 94.12 6 6 5 6 6 6 6 6 94.31* 7 11 11 17 11 17 11 17 12 12 18 522.8* 482* 94.51* 12 12 13 13 13 13 16 521.7* 483* 94.71* 18 18 19 19 19 20 22 22 28 23 28 23 29 23 29 24 30 520.7* 484* 94.90* 24 25 25 25 26 26 27 519.6* 485* 95.10* 30 31 31 32 32 33 33 33 39 45 34 40 45 35 40 46 35 41 47 36 42 48 518.5* 486* 95.30* 36 37 38 38 39 39 38 517.4* 487* 95.49* 42 43 44 45 45 46 44 516.4* 488* 95.69* 48 ~55~ 49 "~5"6~ 50 "~56~ 51 ~57~" 52 ~"58"" 52 49 50 51 52 53 54 515.3* 489* 95.88* 59 * Indicates a gain in Exchange, inste ad of a loss. 40 TABLE D — Loss in Exchange 17d 17Jd 17^d 17id 18d 18Jd Stg. at 25.20 Fes. Stg. Stg. at 2D. 40 Mks. 18^d 18id 19dl9Jdl9idl9|d 433 439 445 452 458 465 607.2 415 81.37 471 477 484 490 496 503 426 432 439 445 451 457 605.8 416 81.57 464 470 476 482 489 495 419 426 419 432 425 438 431 444 437 450 443 604.3 417 81.77 456 463 469 475 481 487 413 602.9 418 81.96 449 455 461 467 473 480 406 412 418 424 430 436 601.4 419 82.16 442 448 454 460 466 472 400 405 411 417 423 429 600.0 420 82.35 435 441 446 452 458 464 393 399 404 410 416 422 598.6 421 82.55 427 433 439 445 451 456 386 392 385 397 391 403 396 409 402 415 407 597.1 422 82.74 420 426 432 437 443 449 379 595.7 423 82.94 413 419 424 430 435. 441 373 378 384 389 395 400 594.3 424 83.14 406 411 417 422 428 433 366 372 377 382 388 393 592.9 425 83.33 398 404 409 415 420 425 360 365 370 375 381 386 591.6 426 83.53 391 397 402 407 412 418 353 358 363 368 374 379 590.2 427 83.73 385 389 394 400 405 410 346 351 356 361 367 372 588.8 428 83.92 377 382 387 392 397 402 340 345 349 354 359 364 587.4 429 84.12 369 374 379 385 389 395 333 338 343 348 352 357 585.0 430 84.31 362 355 367 360 372 365 377 369 382 374 387 326 331 336 341 345 350 584.7 431 84.51 379 320 324 329 334 338 343 583.3 432 84.71 348 352 357 362 367 371 313 318 322 327 331 336 582.0 433 84.90 341 345 350 354 359 364 306 311 315 320 324 329 580.6 434 85.10 333 338 342 347 351 356 300 304 308 313 317 322 579.3 435 85.29 326 319 330 323 335 327 339 332 344 336 348 293 297 302 306 310 314 578.0 436 85.49 340 286 290 295 299 303 307 576.6 437 85.69 312 316 320 324 328 333 280 284 288 292 296 300 575.3 438 85.88 304 308 312 317 321 325 273 277 281 285 289 293 574.0 439 86.08 297 301 305 309 313. 317 266 270 274 278 282 286 572.7 440 86.27 290 294 298 302 305 309 260 263 267 271 275 279 571.4 441 86.47 283 286 290 294 298 302 253 257 260 264 268 272 570.1 442 86.67 275 268 279 272 283 275 287 279 290 283 294 246 250 254 257 261 264 568.8 443 86.86 286 240 243 247 250 254 257 5S7.6 444 87.06 261 264 268 271 275 278 233 236 240 243 247 250 566.3 445 87.25 254 246 257 250 260 253 264 256 267 260 271 226 230 233 236 240 243 565.0 446 87.45 263 220 223 226 229 233 236 563.8 447 87.65 239 242 246 249 252 255 213 216 219 222 226 229 562.5 448 87.84 232 235 238 241 244 247 206 209 212 215 218 222 581.2 449 88.04 225 228 231 234 237 240 200 203 206 208 211 214 560.0 450 88.23 217 220 223 226 229 232 193 196 199 202 204 207 558.8 451 88.43 210 213 216 219 221 224 TABLE D- -Loss in Exchange 41 nd 17id 17Jd 17id 18d ISJd Stg. at 25.20 Fes. sis. Stg. at 20.40 Mks. 18^d 18Jd 19d 19}d md 19id 186 189 192 195 197 200 557.5 452 88.63 203 206 208 211 214 217 180 182 185 188 190 193 556.3 453 88.82 196 ISH 201 204 206 209 173 176 169 178 171 181 174 183 176 186 179 555.1 454 89.02 188 191 193 196 199 201 166 553.8 455 89.22 181 184 186 189 191 193 160 162 164 167 169 172 552.6 456 89.41 174 176 179 181 183 186 153 155 158 160 162 164 551.4 457 89.61 167 169 171 173 176 178 146 149 151 153 155 157 550.2 458 89.80 159 162 164 166 168 170 140 142 144 146 148 150 549.0 459 90.00 152 154 156 158 160 162 133 135 137 139 141 143 547.8 460 90.20 145 147 149 151 153 155 126 128 130 132 134 136 546.6 461 90.39 138 139 141 143 145 147 120 122 123 125 127 129 545.4 462 90.59 130 132 134 136 137 139 113 115 117 118 120 121 544.3 463 90.78 123 125 126 128 130 131 106 108 101 110 103 111 i04 112 106 114 107 543.1 464 90.98 115 117 119 121 122 124 100 541.9 465 91.18 109 110 111 113 115 116 93 95 96 97 99 100 540.8 466 91.37 101 103 104 106 107 108 87 88 89 90 92 93 539.6 467 91.57 94 95 97 98 99 100 80 81 74 82 75 83 76 85 77 86 79 538.5 468 91.77 87 88 89 90 92 93 73 537.3 469 91.96 80 81 82 83 84 85 67 67 68 69 70 71 536.2 470 92.16 72 73 74 75 76 77 60 61 62 63 63 64 535.0 471 92.35 65 66 67 68 69 70 53 54 55 56 56 57 533.9 472 92.55 58 59 59 60 61 62 47 47 48 49 49 50 532.8 473 92.74 51 51 52 53 53 54 40 41 41 42 42 43 531.6 474 92.94 43 44 45 45 46 46 33 34 34 35 35 36 530.5 475 93.14 36 37 37 38 38 39 27 27 27 28 28 29 529.4 476 93.33 29 29 30 30 31 31 20 20 21 21 21 21 528.3 477 93.53 22 22 22 23 23 23 13 13 14 14 14 14 527.2 478 93.73 14 15 15 15 15 15 7 7 7 7 7 7 526.1 479 93.92 7 7 7 7 8 8 525.0 480 94.12 7 7 7 7 7 7 523.9* 481* 94.31* 7 7 7 7 8 8 13 13 14 14 14 14 522.8* 482* 94.51* 14 15 15 15 15 15 20 2-0 21 21 21 21 521.7* 483* 94.71* 22 22 22 23 23 23 27 27 27 28 28 29 520.7* 484* 94.90* 29 29 30 30 31 31 33 34 34 35 35 36 519.6* 485* 95.10* 36 43 37 44 37 45 38 45 38 46 39 40 41 41 42 42 43 518.5* 486* 95.30* 46 47 47 54 48 55 49 56 49 56 50 57 517.4* 487* 95.49* 51 51 52 53 53 54 53 516.4* 488* 95.69* 58 59 59 60 61 62 60 61 62 63 63 64 515.3* 489* 95.88* 65 66 67 68 69 70 * Indicates a gain in Excliange, instead of a loss. 42 TABLE D- -Loss in Exchange 20d 20Jd 20id 20Jd 21d 2Ud SIg. at 25.20 Fes. StR. Stg. at 20.40 Mks. 21Jd 21Jd 22d 22Jd 22Jd 22id 509 515 522 528 535 541 607.2 415 81.37 547 554 560 566 573 579 501 508 514 520 526 533 605.8 416 81.57 539 545 551 558 564 570 493 500 492 506 498 512 504 518 510 524 516 604.3 417 81.77 530 537 543 549 555 561 486 602.9 418 81.96 522 528 534 540 546 552 478 484 476 468 490 TsY" 474 496 488 480 502 494 485 508 499 491 601.4 419 82.16 514 520 526 532 538 544 470 600.0 420 82.35 fm 511 517 523 529 535 462 598.6 421 82.55 497 503 508 514 520 526 454 460 452 466 458 471 463 477 469 483 474 597.1 422 82.74 488 480 472 494 486 477 500 491 483 506 497 488 511 502 494 517 446 595.7 423 82.94 508 439 444 436 450 442 455 447 461 452 466 457 594.3 424 83.14 499 431 592.9 425 83.33 463 469 474 479 485 490 423 428 420 412 404 434 T26 417 409 439 431 423 414 444 436 428 419 449 441 433 424 591.6 426 83.53 455 460 465 471 476 481 415 590.2 427 83.73 446 452 457 462 467 472 407 588.8 428 83.92 438 443 448 453 458 463 399 587.4 429 84.12 429 421 434 426 439 431 444 436 449 441 454 392 397 401 406 411 416 588.0 430 84.31 445 384 389 381 393 385 398 390 403 395 408 399 584.7 431 84.51 413 417 422 427 432 437 376 583.3 432 84.71 404 396 387 379 370 362 354 409 400 392 383 375 366 358 414 405 396 388 379 370 362 418 410 401 392 383 375 366 423 414 405 396 388 379 370 428 368 373 365 357 349 377 369 361 353 382 374 366 358 387 378 370 362 391 383 374 366 582.0 433 84.90 419" 360 580.6 434 85.10 410 352 579.3 435 85.29 401" 345 578.0 436 85.49 392 337 341 333 345 337 349 341 354 345 358 350 576.6 437 85.89 383 329 575.3 438 85.88 374 321 325 317 309 301 329 321 313 ~305~ 333 325 317 309 337 329 321 312 341 333 325 316 574.0 439 88.08 345 349 353 357 361 365 313 572.7 440 86.27 337. 341 345 349 352 356 306 571.4 441 86.47 328 320 332 324 336 327 340 331 344 335 347 298 570.1 442 86.67 339 290 293 285 297 289 301 293 304 296 308 300 568.8 443 88.88 312 315 319 322 326 330 282 567.6 444 87.06 303 307 310 314 317 321 274 278 281 284 288 291 566.3 445 87.25 295 298 302 305 308 312 266 270 273 276 280 283 565.0 446 87.45 286 290 293 296 300 303 258 262 254 265 257 268 260 271 263 275 266 553.8 447 87.65 278 281 284 288 291 294 251 562.5 448 87.84 269 273 276 279 282 285' 243 246 249 252 255 258 561.2 449 88.04 261 264 267 270 273 276 235 238 230 241 233 244 236 247 238 250 241 550.0 450 88.23 253 255 258 261 264 267 227 558.8 451 88.43 244 247 250 253 255 258' TABLE D— Loss in Exchange 43 20d 20}d 20^d 20jd 21d 2Ud Stg. at 29.20 Fes. Stg. Stg. at 20.40 Mks. 21^d 21gd 22d 22}d 22jd 22§d 219 222 225 228 230 233 557.5 452 88.63 236 239 241 244 247 249 212 214 217 219 222 225 556.3 453 88.82 227 230 233 235 238 241 204 206 209 211 214 216 555.1 454 89.02 219 221 224 227 229 232 196 198 201 203 206 208 553.8 455 89.22 210 213 215 218 220 223 188 190 193 195 197 200 552.6 456 89.41 202 204 207 209 211 214 180 182 185 187 189 191 551 .4 457 89.61 194 196 198 200 203 205 172 174 177 179 181 183 550.2 458 89.80 185 187 190 192 194 196 164 167 169 171 173 175 549.0 459 90.00 177 179 181 183 185 187 157 159 161 163 164 166 547.8 460 90,20 168 170 172 174 176 178 149 151 152 154 156 158 546.6 461 90.39 160 162 164 166 167 169 141 143 144 146 148 150 545.4 462 90.59 152 153 155 157 159 160 133 135 136 138 140 141 544.3 463 90.78 143 145 146 148 150 151 125 127 128 130 132 133 543.1 464 90.98 135 136 138 139 141 143 117 119 120 122 123 125 541.9 465 91.18 126 128 129 131 132 134 110 111 112 114 115 116 540.8 466 91.37 118 119 121 122 123 125 102 103 104 106 107 108 539.6 487 91.57 109 111 112 113 114 116 94 95 96 97 99 100 538.5 468 91.77 101 102 103 105 106 107 86 87 88 89 90 91 537.3 469 91.96 93 84 76 94 85 77 95 86 78 96 87 78 97 88 79 98 78 79 80 81 82 83 536.2 470 92.16 89 70 71 72 73 74 75 535.0 471 92.35 80 63 63 64 65 66 67 533.9 472 92.55 67 68 69 70 70 71 55 55 47 56 48 57 49 58 49 58 50 532.8 473 92.74 59 50 42 60 51 43 60 52 43 61 52 44 62 53 44 62 47 531.6 474 92.94 53 39 40 40 41 41 42 530.5 475 93.14 45 31 32 32 33 33 33 529.4 476 93.33 34 25 34 26 34 26 35 26 35 26 36 23 24 24 24 25 25 528.3 477 93.53 27 16 16 16 16 16 17 527.2 478 9.3.73 17 17 17 17 18 18 8 8 8 8 8 8 526.1 479 93.92 8 8 9 9 9 9 525.0 480 94.12 8 8 8 8 8 8 523.9* 481* 94.31* 8 8 9 9 9 9 16 16 16 16 16 17 522.8* 482* 94.51* 17 17 17 17 18 18 23 24 24 24 25 25 521.7* 483* 94.71* 25 26 26 26 26 27 31 32 32 33 33 33 520.7* 484* 94.90* 34 34 34 35 35 36 39 40 40 41 41 42 519.6* 485* 95.10* 42 50 43 51 43 52 44 52 44 53 45 47 47 48 49 49 50 518.5* 486* 95.30* 53 55 55 56 57 58 58 517.4* 487* 95.49* 59 60 60 61 62 62 63 63 64 65 66 67 516 4* 488* 95.69* 67 68 69 70 70 71 70 71 72 73 74 75 515.3* 489* 95.88* 76 77 78 78 79 80 * Indicates a gain in Exchange, Insteid of a loss. 44 INSURANCE. The cost of insurance should always be calculated, not on the foreign price, but on the foreign price less 6%. To this is, of course, added 10%, if the insurance is for 10% over the invoice amount. Pence Prices. (1) When the reimbursement is in sterling and the insurance is for 10% extra, then the general formula may be given as 43X P X i X S.R (11) where P is the pence price, i is the rate of insurance and S. R. is the sterling rate at which premiums are converted into dollars and cents. If S.R. is 476, then the formula may be expressed as 2.05 X P X i '. (12) If S. R. is 488, then the formula may be expressed as 2.1 X P X i (13) (2) When the pence price is to be converted into francs at 25.20 francs, then the formula for cost of insurance is PXi 9 X 12 X • (14) F.R. where P is the pence price, i is the insurance rate, P.R. is the franc rate at which the premiums are converted into dollars and cents. (a) When P.R. is 570 francs, then the formula may be expressed as 1.9X P X i (15) (b) When P.R. is 543 frafics, then the formula may be expressed as 2 X P X i (16) (c) When P.R. is 517 francs, then the formula may be expressed as 2.1 X P X i (17) (3) When the pence price is to be converted into marks at 20.40, then the formula for the cost of insurance is 2.2 X P X i XM.R (18) where P is the pence price, i is the rate of insurance and M.R. is the mark rate at which the premiums are converted into dollars and cents. (a) If M.R. is 79%, then the formula is 1% X P X i (19) (b) If M.R. is 85, then the formula is lYs X P X i (20) (c) If M.R. is 91, then the formula is 2 X P X i (21) (d) If M.R. is 961/2, then the formula is 2% X P X i (22) Francs Prices. When the price and the reimbursement are both in francs, then the formula for the cost of insurance is F X i 9% X X 10 (23) P.R. where P is the price, P.R. the rate and i is the insurance rate. 45 INSURANCE— Continued. (a) If F.R. is 577, then the formula is FXi 1% X (24) 10 (b) If F.R. is 562%, then the formula is 1/6 of F X i .- (25) (c) If F.R. is 536, then the formula is F X i 1% X (26) 10 (d) If F.R. is 521, then the formula is .18 XF X i (27) Marks Prices. When the price and the reimbursement are both in marks, then the general formula for the cost of insurance is .0234 X M X i X M.R ,.(28) Where M is mark price and i is insurance rate and M.R. is mark rate at which insurance is converted into dollars and cents. (a) If M.R. is 741/2, then the formula is M X i 1% X (29) 10 (b) If M.R. is 85%, then the formula is .2 X M X i (30) (c) If M.R. is 96, then the formula is M Xi 2% X (31) 10 HEDGING. The question of hedging overweight or underweight is a very important one in a widely fluctuating market. This hedging can best be done in an automatic manner, as shown in the following paragraphs: Suppose that a merchant buys 100 bales of actual cotton that weigh on an average 532 lbs. gross per bale, and that he hedges this by selling 100 bales of futures in New York or New Orleans, where the contract weight is 50,000 lbs. gross. This still leaves him 3200 lbs. long. To hedge this it is evident he must sell six actual bales. He might not be ready to do this, however, but he can accomplish the desired object by arbitrarily entering six bales on the long side. If he had to balance the account at this point, the bought side showing a total of 106 bales and the sold side showing only 100, he would have to sell six actual bales more. The total weight bought would be 53,200 lbs. and the total weight sold would be 50,000 plus 6 bales of 532 lbs. each, or a total of 53,192 lbs., which is practically the same as the amount bought. The principle, therefore, of hedging overweight is to enter arbitrarily on the bought side 6% of the quantity of futures entered on the sold side as a hedge, and vice versa, to enter arbitrarily on the sold side 6% of the quantity of futures bought as a hedge. 46 HEDGING— Continued. If the actual percentage of overweight or underweight is some other number than 6, then, of course, that number is used in place of 6. It is seen that this method takes care of the overweight or underweight every time cotton Is hedged, and all entries automatically cancel each other. In the case of underweight, the opposite operation would be performed; that is, these arbitrary entries would be made on the same side as the hedge quantities were entered on. Below is given an example of the application of the above method: BOUGHT. SOLD. Jan. 1— From A. B. & Co 1200 b/c Jan. 1— To X. Y. & Co., Overweight 72 " Dec. futures 1200 b/c To X. y. & Co., Overweight 6 " Dec. futures 100 " Feb. 3— From X. Y & Co., Feb. 3— To Sun Mills, middling.. 800 " Dec. futures 800 " Overweight 48 " From X. Y. & Co., To Casey Mills 50 " Dec. futures 100 " Overweight 6 " " 22 — From X. Y. & Co., " 22 — To White Mills 350 " Dec. futures 400 " Overweight 24 " Total 2578 " Total 2578 " If the average gross weight is 532 lbs., then 100 actual bales are equal to 106 bales of New York or New Orleans futures. As the future contract weight in Liverpool is 480 lbs. net per bale, which is equivalent to 511 lbs. per bale gross, that is, 4% below the actual average weight of 532 lbs., then 100 actual bales should be hedged in Liverpool with 104 bales of futures. This hedging of over- weight in Liverpool can be accomplished in the same way as in New York by making arbitrary entries of 4% of the quantity hedged, or whatever percentage will be the correct one under the circumstances. It is well known that when cotton is sold on C.I.F. and 6%, or C.F. and 6% terms, on CALL, and is hedged in New York or New Orleans, and the market advances to the time of calling or fixing the price, there is a certain loss that it has often been a problem to protect oneself against. The loss is equal to 6% of the advance plus the percentage representing the selling commission and both marine and war risks, when the insurance is for account of the seller, all cal- culated on the advance. For instance, if the two insurance rates amount to 8% and the selling commission is 1%, and the market has advanced 4c per pound, then if the cotton was sold on call, in which case the insurance is for account of seller, the seller loses roughly 15% of 4c per lb., or ?3 per bale, unless he protects himself as follows: On the date the cotton is sold on call, make an arbitrary entry on the "sold" side equal to a certain percentage of the amount sold. This percentage is arrived at by adding together 6%, the selling commission percentage and the total of the two insurance rates after these two latter have been increased by 3%%. This arbitrary entry forces a purchase of spots or futures of a like weight, to balance. On a rising market, therefore, the gain from the additional entry in the number of bales offsets the loss in price. This entry is, of course, cancelled at the time ^f fixing the price by arbitrarXly adding a likejiumber of_b_ales to the "bojusht" side. If, however, the market declineSj the gain due to the 6 % and the selling commission would offset the loss made by making the above adjustment for the 6% and the selling commission. The adjustment for insurance, if entered, would cause a loss in a falling market. 47 HEDGING— Continued. The following gives an example of the methods described above of hedging both the overweight and the losses sustained in call sales: DATE BOUGHT BALES SOLD BALES Apl. 8 — Prom T. A. & Co., aver- age 543J lbs. per bale at 15ic per lb. f.o.b. Galveston 2000 Overweight adjustment, To A. B. & Co., Dec. futures at 8 per cent 160 15c per lb 2000 May 15— Sold 2000 b/c on CALL at 631 pts. on Dec. C.I.F. and 6% (Prt. 2c (Dec. futures are 17c per lb., insurance 10%, with at the time of sale) 10% extra, no profit calculated, and no selling commission in this case) 6% adjustment 120 Insurance adjustment 207 327 Aug. 1 — Cancellation of the entry Price fixed on sale of May 15 at of May 15 327 631 pts. on Dec, making price 30.31 C.I.F. and 6% 2000 From A. B. & Co., Dec. Overweight adjustment, 8% 160 futures at 24c per lb. 2000 4487 It can be shown In the above that the Profit on the spots is Profit on the 6%, etc. adjustment $85410 Loss on the futures Loss on the 8% overweight 12441 4487 $90000 7827 Total profit .... $97851 Total loss . . . $97827 The difference of only $24 on 2000 bales during an advance of 7c per lb. can be considered only a nominal one. It should probably be pointed out again that on account of these entries being arbitrary, they have the opposite effect of what appears at first glance. In other words, there is a loss on the 8% overweight entry instead of a profit, because if the account were balanced at the various stages, a sale would first be made of 160 bales at the 15c level, and a purchase of a like quantity at the 24c level. The same applies to the other adjustment. WEIGHT EQUIVALENTS. 1 Russian PUD equals 40 Russian pounds 1 Russian PUD equals 36.112 American pounds 1 Russian PUD equals 16.377 Kilograms 100 American pounds equals 45.35 Kilograms 100 American pounds equals 2.769 Russian puds 100 American pounds equals 2 Russian puds, 30^4 Russian lbs. 100 Kilograms equals 220.507 American pounds 100 Kilograms equals 6.1048 Russian puds 100 Kilograms equals 6 Russian puds, 4 3/16 Russian lbs. STAPLE. 7/8 inch equals 22.2 millimetres 1 1 inch equals 25.4 millimetres 1 1 1/16 inch equals 27.0 millimetres 1 1 1/8 inch equals 28.6 millimetres 1 1 3/16 inch equals 30.2 millimetres These measurements are more of theoretical interest than practical value in measuring staple. 1/4 inch equals 31.7 millimetres 5/16 inch equals 33.3 millimetres 3/8 inch equals 34.9 millimetres 7/16 inch equals 36.5 millimetres INDEX. Page Cents C.F. to Francs C.I.F. and 6%— Exchange 568% 29 Cents C.I.F. to Francs C.I.F. and 6%— Exchange 568% 28 Cents C.F. to Francs C.I.F. and 6% — Any Exchange Rate— Table A 8-27 Cents C.F. to Marks C.I.F. and 6% — Any Exchange Rate — Table A 8-27 Cents C.F. to Pence C.I.F. and 6%— Any Exchange Rate — Table A 8-27 Cents C.F. to Pence C.I.F. and 6% at 20.40— Any Exchange Rate— Table A. .. 8-27 Cents C.F. to Pence C.I.F. and 6% at 25.20— Any Exchange Rate— Table A. . . 8-27 Equivalents in Sterling, Francs and Marks— See columns 3, 4 and 5, Table A. 8-27 Equivalents in Francs and Sterling — Table B 30 Equivalents in Marks and Sterling — ^Table C 31 Equivalents in Staple 4'^ Equivalents in Weights (Pounds, Russian Puds and Kilograms) 47 Exchange Equivalents (Sterling, Francs and Marks) — See columns 3, 4 and 5, Table A 8-27 Exchange, Francs to Sterling — Table B 30 Exchange, Marks to Sterling — Table C 31 Exchange, Formulae for Profit and Loss in 32-33 Exchange, Profit and Loss in, Pence Prices — Table D 34-43 Formulae for Cost of Insurance 44-45 Formulae for Profit and Loss in Exchange 32-33 Francs C.I.F. and 6% to Cents C.F.— Any Exchange Rate — Table A 8-27 Francs C.I.F. and 6% to Cents C.F.— Exchange 568% 28 Francs C.I.F. and 6% to Cents C.I.F.— Exchange 568% 28 P'rench Exchange Equivalents in Sterling 30 German Exchange Equivalents in Sterling 31 Hedging — Overweight and Underweight 45-46 Hedging — Losses in CALL Sales 46-47 Insurance — Formulae for Cost of 44-45 Key Numbers for C.I.F. and 6% Calculations— Table A 8-27 Kilograms — Equivalents in Pounds and Puds 47 Losses in Call Sales — Hedging Certain 46-47 Losses in Exchange — Formulae for all Prices 32-33 Losses in Exchange^Pence Prices — Table D 34-43 Marks C.I.F. and 6% to Cents C.F.— Any Exchange Rate — Table A 8-27 Measurement in Staple 47 Profit and Loss in Exchange — Formulae for all Prices 32-33 Profit and Loss in Exchange — Pence Prices — Table D 34-43 Russian Puds — Equivalents in Pounds and Kilograms 47 Staple Equivalents 47 Table A— C.I.F. and 6% Key Numbers 8-27 Table B — French Exchange into Sterling Equivalents 30 Table C — German Exchange into Sterling Equivalents 31 Table D — Profit and Loss in Exchange — Pence Prices 34-43 Underweight Hedging ' 45-48 Weight Equivalents in Pounds — Russian Puds and Kilograms 47