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The factor is changed whenever a constituent company undergoes a stock split so that the value of the index is unaffected by the stock split. First calculated on May 26, 1896, [ 2 ] the index is the second-oldest among U.S. market indices, after the Dow Jones Transportation Average .
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The building still stands at the airport, remaining in active use and listed on the National Register of Historic Places. [16] Over the next year, the airport started to come together: the dirt runway was replaced with an all-weather surface and more hangars, a restaurant, and a control tower were built.