Continental Tobacco, Federal Steel, General Electric, American Steel & Wire replaced American Spirits Manufacturing, American Tobacco, Laclede Gas and Standard Rope & Twine American Cotton Oil American Steel & Wire American Sugar Continental Tobacco Federal Steel General Electric Company National Lead Pacific Mail Steamship Peoples Gas Tennessee Coal & Iron U.S. Leather pfd. U.S. Rubber

U.S Rubber replaced General Electric American Cotton Oil American Spirits Manufacturing American Sugar American Tobacco Laclede Gas National Lead Pacific Mail Steamship Peoples Gas Standard Rope & Twine Tennessee Coal & Iron U.S. Leather pfd. U.S. Rubber

Peoples Gas replaced Chicago Gas American Cotton Oil American Spirits Manufacturing American Sugar American Tobacco General Electric Laclede Gas National Lead Pacific Mail Steamship Peoples Gas Standard Rope & Twine Tennessee Coal & Iron U.S. Leather pfd.

Standard Rope & Twine replaced U.S. Cordage pfd American Cotton Oil American Spirits Manufacturing American Sugar American Tobacco Chicago Gas General Electric Laclede Gas National Lead Pacific Mail Steamship Standard Rope & Twine Tennessee Coal & Iron U.S. Leather pfd.

Pacific Mail Steamship replaces U.S Rubber American Cotton Oil American Spirits Manufacturing American Sugar American Tobacco Chicago Gas General Electric Laclede Gas National Lead Pacific Mail Steamship Tennessee Coal & Iron U.S. Cordage pfd. U.S. Leather pfd.

Distilling & Cattle Feeding became American Spirits Manufacturing and U.S. Cordage pfd. replaced North American. American Cotton Oil American Spirits Manufacturing American Sugar American Tobacco Chicago Gas General Electric Laclede Gas National Lead Tennessee Coal & Iron U.S. Cordage pfd. U.S. Leather pfd. U.S. Rubber

The twelve stock Average consisted entirely of industrial stocks published for the first time: American Cotton Oil American Sugar American Tobacco Chicago Gas Distilling & Cattle Feeding General Electric Laclede Gas National Lead North American Tennessee Coal & U.S. Leather pfd. U.S. Rubber The first Dow Jones Industrial Average computed from this list of twelve [...]

The following substitutions were made: Deleted from average: Lake Shore Railroad New York Central Pacific Mail Steamship Added to average: Chicago, Burlington & Quincy Chicago, Rock Island & Pacific American Sugar

The stock average returns to a twelve (12) stock average, ten (10) of which were railroads and two (2) industrials: Chicago, Milwaukee & St. Paul Chicago & North Western Delaware & Hudson Canal Delaware, Lackawanna & Western Lake Shore Railroad Louisville & Nashville Missouri Pacific New York Central Northern Pacific pfd. Pacific Mail Steamship Union [...]

List now includes twelve (12) railroad stocks and two (2) industrial stocks: Central Pacific Central Railroad of New Jersey Chicago Milwaukee & St. Paul Chicago & North Western Delaware & Hudson Canal Delaware, Lackawanna & Western Lake Shore Railroad Louisville & Nashville Missouri Pacific New York Central Northern Pacific preferred Pacific Mail Steamship Union Pacific [...]