May 19 in Market History

On May 19, 1989, the Dow Jones Industrial Average finally passed the 2,500 mark, for first time in 21 months (since its peak in August of 1987), closing at 2,501.10.

On May 19, 1993, the Dow index closed above 3,500 for the first time (but just barely: 3,500.03).

Tech History: Two New Products Debut (on May 19, 1997)

On this day in 1997, Hewlett-Packard joined the race in the palm-top computer market, shipping its first Windows CE handheld device. At the time, U.S. Robotics Palm Pilot dominated the small personal organizer market, claiming 67% of the market in March of 1997. Windows CE offerings from Compaq, NEC, Philips, Casio, and Hitachi had failed (so far) to make a dent in the market.

Microsoft launched New York Sidewalk, the second in its string of city guides. Microsoft hoped to create a nationwide network of local entertainment guides. The first site, Seattle Sidewalk, was launched the previous April. By 1998, Microsoft had expanded its Sidewalk effort to nine cities.  However, in late 1998, the company had redesigned Sidewalk to focus on Internet shopping.

"Famous Firsts" on May 19

1828: Northern wool manufacturers won a victory on May 19, 1828, when President John Quincy Adams signed the high tariffs of 1828, which the south called the "tariff of abominations."

1857: William F. Channing and Moses G. Farmer patented the electric fire alarm, first used on a grand scale in Boston, with 40 street alarm boxes connected by telegraph lines to a central office.

1862: The Homestead Act became law, providing for cheap land for settlement of the West.

1911: Caesar Cella was the first person to be convicted of a crime based on fingerprints.

1976: Gold ownership was finally legalized in Australia, over a year after U.S. legalization.

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