Inside Trade | A Glance to the Past: Charles Dow and Edward Jones

The widely acclaimed theory in the financial market, Dow and Jones theory, may trace its roots all the way to the 19^th century. The individuals responsible for it; Charles Henry Dow and Edward Davis Jones.

Charles Henry Dow was born on the 6^th of November, 1851. He lived most of his life as a journalist who stood for the truth and unbiased reporting. Though he did not received much education in a formal institution, he managed grab a post at the Springfield Daily Republican which also served as his passage to the journalism world. From then on, he worked his way to the industry until he sought the opportunity in New York's famous financial district, Wall Street.

On the other hand, Edward Davis Jones was also a journalist like Dow. However, aside from being a journalist, he was also a statistician who possesses the ability to quickly analyze a financial report. Though one source claimed that he was a Brown University dropout, he acquired his degree in Worcester Academy in Worcester, MA.

After his arrival in New York in 1880, 29 year old Charles Dow found a work at Kierman Wall Street Financial Bureau. He was then asked to invite an another reporter, in which Edward Jones was chosen. Prior to that, the two met and became co-workers at the Providence Evening Press. One of the probable reason why Dow chooses Jones is because of his dedication in reporting truthful and accurate financial news.

2 years after, the two founded Dow & Jones Company because they saw a need for an another source of financial news in Wall Street. It releases an afternoon two-page summary of the financial news for the day. Later on, it became a full blown newspaper known as Wall Street Journal.

The Wall Street Journal's first issue was released on July 8, 1889 which cost for 2 cents. 10 years later, it was able to release its first morning edition. Along the way before the retirement of Charles Dow, he was able to devised the Dow Jones Industrial Average and the Dow theory. On May 26^th of 1896, the average made its first appearance in Wall Street Journal.