Finance History | 11 Wall Street — A Cleveland Motion Book That Printed PH on 9 December 1964
· 1964-12
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Finance History | 11 Wall Street — A Cleveland Motion Book That Printed PH on 9 December 1964
kevin
People treat Parker Hannifin as a Cleveland motion-control house that always printed PH after a finished New York book.
The December 1964 issuer was Parker-Hannifin Corporation, the Ohio manufacturer formed when Parker Appliance bought Hannifin in 1957 and took the combined name.
Arthur L. Parker had founded the original Cleveland firm in 1917. The surviving corporation was incorporated on 30 December 1938.
The company's investor FAQ and a 24 April 2014 closing-bell release both record that Parker common stock first traded on the New York Stock Exchange on 9 December 1964 under the ticker PH.
The same letters are still on the tape. The company later listed splits of two-for-one in 1959, before the Big Board listing, and a run of three-for-two splits after it.
The present tape is still PH on the New York Stock Exchange.
The mechanism is a mid-century industrial listing: a privately built hydraulics book crossed onto the Exchange floor and kept one two-letter symbol for more than sixty years.
The pin is the public Broad Street facade of the Exchange, the present street marker for the tape that has printed PH.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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