Finance History | 11 Wall Street — An Orrville Jam Book Left the Curb and Printed SJM
· 1965-10
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Finance History | 11 Wall Street — An Orrville Jam Book Left the Curb and Printed SJM
kevin
People treat J.M. Smucker as an Orrville packaged-food house that always printed SJM after a finished New York book.
The company's investor FAQ records that the firm was made public in 1959. The same FAQ dates the first over-the-counter sale to 9 November 1959.
It dates the first New York Stock Exchange sale to 20 October 1965, with a three-for-one split on that listing.
From 30 September 1991 until 29 August 2000 the tape carried two classes, SJM.A and SJM.B. A company release dated 28 August 2000 records that the classes were combined into a single common share that opened the next morning as SJM.
On 1 June 2002 Smucker closed the Jif and Crisco combination with Procter and Gamble. A company release dated 3 June 2002 records that new common began trading that day and that the letters stayed SJM.
The mechanism on the 1965 date is a curb issuer moving an already-public jam book onto the New York tape, not a cash initial public offering priced that week.
The present tape is still SJM on the New York Stock Exchange.
The pin is the Broad Street facade of the Exchange, the public marker for that New York listing.
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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