Later this month,Apple will join the Dow Jones Industrial Average.
Apple will replace AT&T, which was better-known as American Telephone & Telegraph when it originally joined the Dow in October 1916.
This 30-stock index has seen a lot of turnover in its history. And believe it or not, there were only 12 stocks in it when it was created in 1896.
“The Dow Jones Industrial Average consisted entirely of industrial stocks, as it was published for the first time,” noted S&P’s Howard Silverblatt. It’s a lot more diverse today.
And only one of the original 12 members continues to hold a spot in it.
What it did: It formed as a trust after several mill owners in Texas and Arkansas combined syndicates to regulate the price of seeds. It became a corporation in 1889 after the trust was dissolved through a lawsuit.
Where it is now: It evolved into a company that's now part of Unilever. The original company was dropped from the Dow in 1901.
What it did: The American Tobacco Company acquired over 200 competitors to become the dominant player in the industry. It was founded in 1890.
Where it is now: The Supreme Court ordered it to dissolve following an anti-trust lawsuit. It splintered into many smaller companies and renamed itself Fortune Brands. It was dropped from the Dow in 1985.
What it did: The company bought various gas and heating companies in Chicago with a capital of $US25 million. It was founded in 1887.
Where it is now: It was acquired 10 years later and has evolved into a subsidiary of Integrys Energy Group, a publicly-traded company. The original company, after merging with Peoples Gas, was dropped from the Dow in 1915.
What it did: It was formed as an electricity company in 1892 in a merger that included business owned by Thomas Edison, the inventor of the lightbulb.
Where it is now: It is now a multinational giant with several business including power, oil and gas, aviation and transportation. It's been in and out of the Dow and is still listed.
What it did: It made spirits and alcohol. It was later renamed American Spirits Manufacturing.
Where it is now: It evolved into Millennium Chemicals, the world's second-largest producer of titanium dioxide, used in products including sunscreen and paint. The original company was dropped from the Dow in 1899.
What it did: It was founded in Philadelphia in 1772 and created Dutch Boy Paint in the early 1900s.
Where it is now: It's now called NL Industries, and is a lead smelting company based in Houston, Texas. It was dropped from the Dow in 1916.
What it did: It owned several public utilities and public rail companies.
Where it is now: It was broken up by the SEC in 1946 after congress passed the Public Utility Holding Company Act of 1935. It was dropped from the Dow in 1930.
What it did: It specialised in extracting leather from the bark of hemlock trees and grew to be one of the largest companies in the US around the early 1900s.
Where it is now: It was liquidated in 1952 and had been dropped from the Dow in 1928.
What it did: The company manufactured tires including the 'Tiger Paw.'
Where it is now: It was acquired by French tire maker Michelin in 1990 after changing its name to Uniroyal and merging with another company. It was dropped from the Dow in 1928.
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