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Posted on 16 April 2011 | 8,873 views

Eastman Kodak Stock After 1929 Stock Market Crash

Kodak’s origins rest with Eastman Dry Plate Company and the General Aristo Company, founded by inventor George Eastman in Rochester and Jamestown, New York. The General Aristo Company was formed in 1899 in Jamestown New York, with George Eastman as treasurer, and this company purchased the stock of American Aristotype Company.

George Eastman registered the trademark Kodak on September 4, 1888. The Eastman Kodak Company was founded by Eastman in 1892. George Eastman also coined “You Press the Button, we do the Rest” advertising slogan.

The first folding “Kodak” cameras were introduced early in the 1890’s. These were equipped with folding bellows which permitted much greater compactness. The first pocket Kodak camera was introduced in 1895. It was of the box form type, slipping easily into an ordinary coat pocket, and producing negatives 1½ x 2 inches. The first folding pocket Kodak camera was introduced in 1897.

Brownie is the name of a long-running and extremely popular series of simple and inexpensive cameras made by Eastman Kodak. The “Brownie” popularized low-cost photography and introduced the concept of the snapshot. The first Brownie, introduced in February, 1900, was a very basic cardboard box camera with a simple meniscus lens that took 2¼-inch square pictures on 117 rollfilm.

By October 27, 1929 Eastman Kodak was trading at $224.00 per share when the first wave of selling on “Black Monday”, October 28, 1929 brought the shares down ($42.875) to close at $181.125 per share on the day. By August 11, 1932, Eastman Kodak was trading at $53.25 and hit a 1932 low of $35.25 per share.

In 2004, Eastman Kodak Company was removed from the Dow Jones Industrial Average Index on April 8, 2004 (Stock Symbol: EK) — having been listed on the index for the past 74 years.

Resources:

The Pittsburgh Press – October 1929
The Pittsburgh Press – August 1932

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