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The Original Dow Jones Industrial Average Thirty Components

By JLP | July 27, 2007

Although the Dow Jones Industrial Average has been published since 1896, it didn’t have 30 stocks until October 1, 1928. Those original 30 stocks were:

October 1, 1928

July 27, 2007

Allied Chemical

3M Corporation

American Can

Alcoa Incorporated

American Smelting

Altria Group Incorporated

American Sugar

American Express Company

American Tobacco B

American International Group

Atlantic Refining

AT&T Incorporated

Bethlehem Steel

Boeing Corporation


Caterpillar Incorporated

General Electric Company

Citigroup Incorporated

General Motors Corporation

Coca-Cola Company

General Railway Signal



Exxon Mobil Corporation

International Harvester

General Electric Company

International Nickel

General Motors Corporation

Mack Truck

Hewlett-Packard Company

Nash Motors

Home Depot Incorporated

North American

Honeywell International Inc.

Paramount Publix

Intel Corporation

Postum Incorporated

International Business Machines

Radio Corporation

Johnson & Johnson

Sears Roebuck & Company

J.P. Morgan Chase & Company

Standard Oil (N.J.)

McDonald’s Corporation

Texas Company

Merck & Company, Incorporated

Texas Gulf Sulphur

Microsoft Corporation

Union Carbide

Pfizer Incorporated

U.S. Steel

Procter & Gamble Company

Victor Talking Machine

United Technologies

Westinghouse Electric

Verizon Company


Wal-Mart Stores Incorporated

Wright Aeronautical

Walt Disney Company

The first stock to get the boot from the index was Victor Talking Machine which was replaced by National Cash Register (NCR) on January 8, 1929. Victor only lasted 99 days in the index. I’m not sure why it was replaced.

If you are interested, you can check out Dow Jones Industrial Average History (PDF), which lists all the changes made to the index over the years. I wish it gave explanations as to why the changes were made. Regardless, it’s still interesting to look at.

Topics: Investing | 4 Comments »

4 Responses to “The Original Dow Jones Industrial Average Thirty Components”

  1. Foobarista Says:
    July 27th, 2007 at 11:33 am

    Victor Talking Machine, which made the Victrola family of record players and audio devices, was bought by RCA in 1929.

  2. dimes Says:
    July 28th, 2007 at 11:43 pm

    I remember when they took Union Carbide off the list. That was like 10 years ago. Same time they put Microsoft on.
    From seeing hte PDF it’s interesting how some companies came on and went off again (like cocacola) and are now back.

  3. Mase Says:
    August 1st, 2007 at 3:55 pm

    Were GE or GM ever taken off and put back on again? And they the only 2 originals still on?

  4. More Proof Buy and Hold Doesn’t Work « Cushard Capital Management, Inc. Says:
    March 5th, 2009 at 5:42 am

    […] Hold Doesn’t Work Posted March 5, 2009 Filed under: Stock Market | If you look at the original list of the 30 Dow Jones Industrial Average components (1928 was the first year the Dow had 30 stocks in […]