On This Day In Alabama History: Vulcan Materials First Traded On The NYSE

Alabama News Center | January 2, 2018 @ 5:00 am

By Graydon Rust Alabama 200

January 2, 1957

Vulcan Materials Co., the nation’s leading producer of construction materials, traded on the New York Stock Exchange for the first time. The company, founded by Henry L. Badham and Solon Jacobs in 1910 as the Birmingham Slag Co., sought to expand in response to President Eisenhower’s post-World War II Federal Highway Program. In order to gain sufficient capital, the Birmingham Slag Co. purchased the Vulcan Detinning Co., a New Jersey company that was already trading on the stock market. Incorporated under the symbol VMC, more than 13,000 shares changed hands in the first five days of trading at an original price of $12.69 a share.

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