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WHERE ARE THEY NOW? The 12 members of the 1896 Dow Jones Industrial Average
Apple's addition to the Dow Jones Industrial Average is a great example of how far the world has come.
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The iPhone maker takes the place of 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.
Sources: Scripophily, Wikipedia
What it did: It was the largest American company in the sugar refining business in the early 20th century, with investments in the Caribbean. It was established in 1891 with $50 million in capital.
Where it is now: It has since been acquired by American Sugar Refining, whose products include Domino Sugar. It was dropped from the Dow in 1930.
Source: Wikipedia
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.
Source: Wikipedia
What it did: The company bought various gas and heating companies in Chicago with a capital of $25 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.
Sources: Wikipedia, "Chicago Securities" Volume 4
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.
Sources: Wikipedia
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.
Sources: Wikipedia, "New York Supplement"
What it did: It used natural gas to provide home and street lighting.
Where it is now: It's still around, and describes itself as the largest distributor of natural gas in Missouri. It was dropped from the Dow in 1899.
Sources: Wikipedia, "New York Supplement"
What it did: It was a steel manufacturer with interests in coal and iron ore mining, as well as railroad operations. It was formed in 1852 in Tennessee.
Where it is now: It merged with U.S. Steel, its main competitor, in 1907. U.S. Steel still operates its last plant in Alabama. It was dropped from the Dow in 1907.
Source: Wikipedia
What it did: It specialized 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.
Source: Wikipedia
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