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DOW JONES AVERAGES

Dow Jones & Company was formed in 1882 by Charles H. Dow a journalist formerly of the Kiernan News Agency and Edward Jones formerly of the Providence Star.The first Index was created in 1884 consisted of 11 stocks and was to be later known as the Transportation Average and appeared in the Customer's Afternoon Letter, a daily two-page financial news bulletin that was the precursor of The Wall Street Journal which began publishing on July 8, 1889.(1) However, Industrial Average, the one most people are familiar with, began on May 26, 1896.

Dow Jones Industrial Average

The Down Jones Industrial Average is the second oldest but most well known of the Indexes. Not only is it an Index many are familiar with it is quoted worldwide in news broadcasts, newspapers, and journals. It made its debut on May 26, 1896 with these 12 stocks (2):

American Cotton Oil

American Sugar

American Tobacco

Chicago Gas

Distilling & Cattle Feeding

General Electric

Laclede Gas

National Lead

North American Utility

Tennessee Coal & Iron

U.S. Leather (preferred)

U.S. Rubber

By 1916 the number of stocks rose to 20 and rose to 30 in 1928. (3) It crossed the 1000 mark on November 14, 1972 and it reached 10,000 on March 29, 1999. Throughout most of it’s history, most of the stocks on the Index have been listed on the New York Stock Exchange but in 1999 Microsoft and Intel which were listed on the NASDAQ, were included. While General Electric is the only one of the original 12 stocks that is still listed even after it was removed and reinstated twice, many of the other original 12 continue on though other companies. (4)

Dow Jones Transportation Average

This is the oldest Index. Originally know as the Dow Jones Railroad Average, it was the first Index and was created in 1884 and was composed of nine railroads, including the New York Central and Union Pacific, and two non-rails, Pacific Mail Steamship and Western Union. The name changed in 1970 to the current Transportation Average. (5)

Dow Jones Utilities Average

The Utility Average is the youngest Index and was founded in January 1929 and originally included 18 stocks. (6)

INTERNET

Dow Jones Averages

Dow Jones

Down Through History Timeline

Indexes Main

Measuring Worth (1885-)

Wall Street

New York Stock Exchange

NASDAQ and American Stock Exchanges

ADDITIONAL READING

Pierce, Phyllis S. ed. The Dow Jones Averages, 1885-1995. Chicago : Irwin Professional Pub., c1996.

LC Call Number: HG4915.D6434

LC Catalog Number:

Rosenberg, Jerry M. Inside the Wall Street Journal: The History and the Power of Dow Jones & Company and America's Most Influential Newspaper. New York : Macmillan ; London : Collier Macmillan, c1982. LC Call Number: HG4910 .R69 1982

LC Catalog Number:

Wendt, Lloyd. The Wall Street Journal : The Story of Dow Jones & the Nation’s Business Newspaper.Chicago : Rand McNally, c1982.

LC Call Number: HG4910 .W37 1982

LC Catalog Number:

SUBJECT HEADINGS

Dow Jones & Co.

Dow Jones averages.

Down Jones industrial average

Dow Jones transportation average.

Dow Jones utility average.

1. Dow Jones Industrial Averages Historical Components (Viewed September 4, 2009)

2. Dow Jones Industrial Index Average (history) (Viewed September 4, 2009)

3. Dow Jones Industrial Averages Historical Components (Viewed September 4, 2009)

4. Dow Jones Industrial Index Average (history) (Viewed September 4, 2009)

5. Dow Jones Transportation Average Overview (Viewed September 4, 2009)

6. Dow Jones Utility Average Overview (Viewed September 4, 2009)