Finance History|11 Wall Street — An Over-the-Counter Gas Book Walks Onto the Big Board as APD
· 1961-11
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Finance History|11 Wall Street — An Over-the-Counter Gas Book Walks Onto the Big Board as APD
kevin
People treat Air Products as an Allentown industrial-gas house that always printed APD on a mature Big Board book.
The first New York tape was a transfer, not a birth.
The Commercial and Financial Chronicle recorded formal listing ceremonies on 13 November 1961 for Air Products and Chemicals, Inc., of Allentown, Pennsylvania.
The same notice said the stock had already traded over the counter for ten years.
The ticker on the exchange was APD.
Company history later compressed the moment into a 1962 caption about sales passing 100 million U.S. dollars.
The primary exchange notice is the 13 November 1961 ceremony.
Leonard Parker Pool had founded the firm in Detroit in 1940 around on-site oxygen plants rather than cylinder routes.
By the early 1960s the book mixed atmospheric gases with a new chemicals joint venture and the 1962 purchase of Houdry Process.
Moving from the over-the-counter sheet onto the Big Board put a ten-year private-market name onto the tape that institutions already watched for industrials.
The pin is the Broad Street facade of the exchange that took the letters. The trading floor is not a visitor gallery.
The mechanism is an OTC seasoned industrial crossing onto the listed tape once the sales line and the Allentown plant base were large enough to clear the exchange's then-current tests.
Photo: New York Stock Exchange, via the collection photograph already ingested for Big Board listings.
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