Why don't classic Wall Street books us $ to refer to share prices?

Question

Recently, I read both The Intelligent Investor and Reminiscence of a Stock Operator. Both were written before 1950. In these books (and others from the same era), share prices are not measured in US dollars. There is simply a number given (without a dollar sign). I know this number is not the dollar price, since it is way too high (for example, most share prices are between 70-150, which obviously wasn't the case in the early 1900s dollar wise). Also, very rarely the dollar price is mentioned, and it's always different (far lower) than the other number that is so frequently used. Here are direct examples;

"I think I have told you it has been my experience that

whenever a stock crosses 100 or 200 or 300 for the first time,

it nearly always keeps going up for 30 to 50 points and after

300 faster than after 100 or 200."

^From Reminiscence... Obviously these "points" are not dollars. What are they?

Answer 1

I think the author is tying to make the point that such numbers are psychological barriers. It does not matter if it is rupees on an Indian stock market, pounds on a British stock market, or dollars on a U.S. stock market.

Using the generic word "points" instead of "dollars" allows the same principle to be applied to different markets.