Finance History|11 Wall Street — Thirty-Seven Fifty for a New Brunswick Book Called JNJ
· 1944-9
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Finance History|11 Wall Street — Thirty-Seven Fifty for a New Brunswick Book Called JNJ
kevin
People treat Johnson and Johnson as a New Brunswick healthcare house that always printed JNJ after a finished New York book.
The 1944 issuer was Johnson and Johnson, a New Jersey firm founded in 1886 that had remained private for fifty-eight years.
The company's own heritage pages date the initial public offering and New York Stock Exchange listing to 24 September 1944.
Later market summaries often print the first continuous series as 25 September 1944, the next session after that company date.
Independent accounts of the offering put the 1944 price at 37.50 U.S. dollars a share and put that year's sales at 93.6 million U.S. dollars with profits of 9.5 million U.S. dollars.
The letters on the tape were JNJ from the start of the listed book.
Those letters stayed JNJ through later stock dividends and splits, including a 100 percent stock dividend in 1947.
The letters JNJ still open on this exchange.
The mechanism is a wartime family company floating a common book at a stated dollar price and keeping one ticker for more than eighty years.
The pin is the Broad Street facade of the Exchange on the morning the New Brunswick book opened.
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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