Even to this day US treasury bonds are priced like that. It's starting to get silly now with 'quarters of a 32nd of a dollar' and such (ie. 1/128, but written as 1/4 1/32 due to the limits of human comprehension).
* Minimum Price Fluctuation: One thirty-second (1/32) of one point ($31.25), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).*
As are some bond-like derivatives, eg MAC swap futures, which are quoted in quarters of thirty-seconds [2]. The way prices are written out is maddening - consider yesterday's settle [3]:
It has its origins in the use of Spanish dollars and various related bits of gold that could be reliably cut in half, in early American history.
I think a lot of companies got away with using binary floating point maths without introducing errors, for assets priced in those power-of-two fractions.
There must be an interesting reason why, anybody know?