Finance History|11 Wall Street — Four Hundred Shares and Fifty-Six Dollars After the Break
· 1929-12
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Finance History|11 Wall Street — Four Hundred Shares and Fifty-Six Dollars After the Break
kevin
People treat Caterpillar as an Irving machinery house that always printed CAT on the Big Board.
The 1929 New York listing was five weeks after Black Thursday.
Caterpillar's own stock-history page records that Caterpillar Tractor Co. common stock first traded on the New York Stock Exchange on 2 December 1929.
The same page records an earlier public market on the San Francisco Stock Exchange on 17 August 1925.
A company anniversary notice for the seventy-fifth New York year said that on listing day 1,882,240 shares were outstanding, 400 shares traded, and the stock closed at 56.25 dollars.
The Dow Jones Industrial Average that session was given as 241.70.
The legal name stayed Caterpillar Tractor Company until 1986, when a Delaware reorganization produced Caterpillar Inc.
The mechanism is a California tractor merger listing on the nation's main board after the 1929 break, not before it.
The New York line is the one that later entered the Dow on 6 May 1991.
The pin is the Broad Street facade of the Exchange, where CAT has printed since 1929. 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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