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Subject: Charles Henry Dow
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Date: Sun, 03 May 2009 23:04:39 -0500
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Charles Henry Dow
Charles Henry Dow was born on November 6, 1851, in Sterling,
Connecticut, the son of a farmer.
He grew up to become a journalist, working on the Springfield
Republican, the Providence Star, the Providence Evening Press, and the
Providence ,journal.
He moved to New York City in 1880 and became a reporter for a
financial news service called the Kiernan News Agency.
Dow remembered a friend and fellow writer from his days at the Evening
Press named Edward D. Jones. He brought Jones into the company.
By 1882, they had developed their own ideas about how to report
financial news. They formed their own company in a basement on Wall
Street, next to the stock exchange. The firm, known as Dow Jones and
Company, delivered news by messenger to the financial wizards of Wall
Street.
By 1889, the handwritten bulletins had evolved into The Wall Street
,journal, a four-page afternoon paper. On May 26, 1896, Dow and Jones
launched the Dow Jones Industrial Average, then a daily composite of
12 "smokestack" companies that produced coal, leather, cotton, and
sugar.
A year later, they came out with a ticker to provide instant stock
market updates. The first publication of an average comparable to
today's 30 industrial stocks was on October 1, 1928. The Dow closed
that day at 240.01.
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