Show COMMODITY PRICE INDEX IS GIVEN In view of the increased Interest In terest crest in the level of commodity prices pries with its it important bearing on the economic problems of the te day the Associated Press had arranged arranged arranged ar ar- ar- ar ranged with wih Moodys Moody's service to present a daily daiy index of the price evel level of 15 raw staples in an effort effort ef ef- ef fort to provide a quick measure of day to fluctuations The index was developed after months of study sudy by the Moody statistical staff stal The commodities ies ie taken include most of those r raw W products product dealt deal in on principal princ pal central exchanges in Iii which general day to business and ad speculative interest is centered centred Furthermore those chosen are arc among the most representative of the te three large groups group foods textiles and metals meWs The Te index is computed on the basis of at closing cosing prices December December Decem Decem- ber 31 1931 was taken as so the he current figure may be regarded re rc in effect as ns the percentage tage of the price prie level existing at the end of the last year The importance lo to t each component commodity in relation to the total index was determined after a consideration tion of the value of the total United States production or consumption consumption con con- which ever was larger of the given commodity for the five years preceding 1932 Certain Certain tam tain deviations were made to recognize rec relative greater world importance importance im of certain certin staples and ad to adjust for certain certin factors The commodities used together to to gether with wih the approximate percentage percentage per per- value of ot the whole index assigned to each follow olow Wheat cotton and hogs each 13 per cent steel scrap and sugar each 10 per cent wool 7 per percent percent percent cent cent copper and hides each 5 per cent corn rubber silk sik and coffee each 4 per cent lead and silver siver each 3 per cent and cocoa 2 per cent cent Corn was given a somewhat lower percentage in i proportion to the relative value of the crop in view ofte fact that it is part partly reflected in the index by hogs |