Finance History | 11 Wall Street — One Hundred Shares at Twenty-Six Called U and UP
· 1870-9
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Finance History | 11 Wall Street — One Hundred Shares at Twenty-Six Called U and UP
kevin
People treat Union Pacific as an Omaha railroad that always printed UNP after a finished New York book.
The present letters arrived as a holding-company reprint of a much older railroad tape.
A Union Pacific corporate history records that the railroad applied to list 367,450 shares of capital stock eight years after the 1862 Pacific Railroad Act.
The same company account records that the first day on the New York market was 15 September 1870, that the first tickers were U and UP, and that 100 shares changed hands that day at a high of 26 dollars in 1870 currency.
The same account records that a 1969 reorganization created Union Pacific Corporation and that the stock began trading under UNP, with a first-day high of 44 dollars in 1969 currency.
The mechanism of 15 September 1870 is a primary New York listing of railroad capital stock, later reprinted under a holding-company ticker.
The pin is the Broad Street facade of the present Exchange building, the later house of a tape that began when this 1903 building did not yet stand. 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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