Collectible Stocks and Bonds from North American Railroads     by Terry Cox

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Search the Coxrail database for descriptions of 23,700+ certificates from over 7,400 North American railroad companies.

Dow Jones Index

The Dow Jones Railroad and Transportation Averages

Collectors occasionally have asked whether certain companies had ever been part of the Dow Jones index. Actually the "Dow Jones Index" encompasses several different indices. The one most pertinent to our interest here is the Dow Jones Transportation Average.

Charles Dow began his 'Dow Dozen' in 1884. His average became officially known as the Industrial Average in May, 1896. Later in that same year, Dow began publishing his Railroad Average (DJRA).

Over the years, the composition of the 20 stocks that made up the DJRA changed constantly with mergers and financial fortunes. In 1968, a gap was created by the Pennsylvania/New York Central merger It was filled by Northwest Industries. Until then, every company in the Railroad Average had been either a railroad company or a diversified descendent of one.

However, within two years, half of the companies in the average were non-railroads and Dow Jones officially changed the name to the Transportation Average. Today, only five railroad-related companies remain:

  • Burlington Northern Santa Fe
  • CSX
  • GATX
  • Norfolk Southern
  • Union Pacific

Here are all the companies that have appeared in the Dow Jones Railroad Average and the Dow Jones Transportation Average. Visit Dow Jones to learn more about the makeup of its averages on any particular day in history.

Catalog# Dates Company
ATC-786 1896-1968 Atchison Topeka & Santa Fe Ry Co
ATL-427 1928-1967 Atlantic Coast Line RR Co
BAL-662 1901-1965 Baltimore & Ohio RR Co
BUR-482 1995-present Burlington Northern Santa Fe Corp
BOS-514 1943-1949 Boston & Maine RR
BRO-728 1899-1912 Brooklyn Rapid Transit Co
BUR-478 1970-1995 Burlington Northern Inc
CAN-387 1902-1988 Canadian Pacific Ry Co
CEN-186 1896-1902 Cental RR Co of New Jersey
CHE-476 1896-1902 Chesapeake & Ohio Ry Co
CHE-476 1914-1970 Chesapeake & Ohio Ry Co
CHE-622 1971-1980 Chessie System Inc
CHI-086 1896-1902 Chicago Burlington & Quincy RR Co
CHI-440 1896-1928 Chicago Milwaukee & St Paul Ry Co
CHI-444 1968-1969 Chicago Milwaukee St Paul & Pacific RR Co
CHI-502 1896-1914 Chicago & North Western Ry Co
CHI-502 1961-1968 Chicago & North Western Ry Co
CHI-602 1951-1965 Chicago Rock Island & Pacific RR Co
CHI-603 1896-1902 Chicago Rock Island & Pacific Ry Co
CHI-603 1928-1935 Chicago Rock Island & Pacific Ry Co
CLE-413 1896-1903 Cleveland Cincinnati Chicago & St Louis Ry Co
CON-629 1993-1997 Conrail Inc
CON-740 1987-1993 Consolidated Rail Corp
CSX-500 1980-present CSX Corp
DEL-267 1902-1928 Delaware & Hudson Co
DEL-267 1929-1957? Delaware & Hudson Co
DEL-269 1957?-1968 Delaware & Hudson RR Corp
DEL-312 1924-1933? Delaware & Lackawanna RR Co
DEL-317 1933?-1951 Delaware Lackawanna & Western RR Co
DEN-667 1899-1904 Denver & Rio Grande RR Co preferred
DEN-679 1965-1969 Denver & Rio Grande Western RR Co
ERI-055 1896-1899 Erie RR Co
ERI-438 1905-1965 Erie - Lackawanna RR Co
FLO-460 1969-1970 Florida East Coast Ry
GAT-950 1998-present GATX Corp
GRE-123 1935-1970 Great Northern Ry Co preferred
GUL-517 1967-1970 Gulf Mobile & Ohio RR Co
ILL-079 1901-1929 Illinois Central RR Co
ILL-079 1934-1964 Illinois Central RR Co
ILL-100 1995-1998 Illinois Central Corp
ILL-120 1964-1970 Illinois Central Industries
INT-064 1896-1905 Interborough Rapid Transit?*
KAN-690 1914-1924 Kansas City Southern Ry Co
KAN-690 1952-1962 Kansas City Southern Ry Co
KAN-693 1962-1970 Kansas City Southern Industries
LAK-635 1896-1898 Lake Shore Ry Co
LEH-741 1912-1924 Lehigh Valley RR Co
LOU-666 1896-1929 Louisville & Nashville RR Co
LOU-666 1935-1971 Louisville & Nashville RR Co
MET-700 1898-1899 Metropolitan Street Ry Co
MET-700 1904-1906 Metropolitan Street Ry Co
MIN-499 1902-1904 Minnesota & St Louis RR Co
MIS-716 1896-1902 Missouri Kansas & Texas Ry Co preferred
MIS-807 1976-1982 Missouri Pacific Corp
MIS-815 1929-1935 Missouri Pacific RR Co
MIS-815 1968-1970 Missouri Pacific RR Co class A
MIS-820 1896-1914 Missouri Pacific Ry Co
NEW-161 1914-1943 New Haven RR Co
NEW-530 1896-1968 New York Central RR Co
NEW-555 1929-1964 New York Chicago & St Louis RR Co
NEW-688 1949-1961 New York New Haven & Hartford RR Co
NEW-712 1897-1898 New York Ontario & Western Ry Co
NEW-794 1896-1897 New York Susquehanna & Western RR Co preferred
NOR-051 1982-present Norfolk Southern Corp
NOR-080 1899-1900 Norfolk & Western Ry Co preferred
NOR-080 1905-1982 Norfolk & Western Ry Co common
NOR-790 1899-1901 Northern Pacific Ry Co preferred
NOR-790 1905-1952 Northern Pacific Ry Co common
PEN-168 1969-1969 Penn Central Corp
PEN-316 1901-1960? Pennsylvania RR Co
PEN-317 1960?-1969 Pennsylvania Co
PER-050 1928-1934 Pere Marquette Ry Co
REA-300 1896-1899 Reading
REA-300 1902-1928 Reading
RIO-340 1969-1970 Rio Grande Industries
RIO-340 1982-1984 Rio Grande Industries
ROC-355 1912-1914 Rock Island Co
SAN-899 1968-1983 Santa Fe Industries
SEA-109 1965-1967 Seaboard Air Line RR Co
SEA-143 1967-1969 Seaboard Coast Line RR Co
SEA-145 1969-1979 Seaboard Coast Line Industries
SOU-479 1896-1901 Southern Ry Co preferred
SOU-479 1901-1982 Southern Ry Co
SOU-733 1900-1901 Southern Pacific RR Co
SOU-733 1904-1983 Southern Pacific RR Co
SOU-774 1983-1995 Southern Pacific & Santa Fe Ry?**
STL-808 1964-1980 St Louis - San Francisco Ry Co
STL-857 1924-1928 St Louis Southwestern Ry Co
TEX-569 1928-1929 Texas & Pacific Ry Co
TWI-636 1906-1912 Twin City (Rapid Transit?)***
UNI-284 1969-present Union Pacific Corp
UNI-286 1898-1905 Union Pacific RR Co preferred
UNI-286 1900-1969 Union Pacific RR Co common
WAB-083 1896-1900 Wabash RR Co preferred
WAB-083 1904-1905 Wabash RR Co preferred
WES-799 1965-1970 Western Pacific RR Corp


listed by Dow Jones as 'Manhattan Elevated'
** listed by Dow Jones as 'Santa Fe Southern Pacific Corp'
*** listed by Dow Jones as 'Twin City'
 Question marks following dates mean that I do not know the precise year a name change took place.


A few railroad-related companies have also appeared in the popular Dow Jones Industrial Average. Here are the companies I currently know of. Be advised I have not researched this index thoroughly.

Catalog# Dates Company
AME-083 1901-1928 American Car & Foundary Co
AME-375 1916-1928 American Locomotive Co
BAL-147 1916-1925 Baldwin Locomotive Works
GEN-052 1928-1930 General Railway Signal Corp
TEN-263 1896-1907 Tennessee Coal Iron & RR Co


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