American Cotton Oil
What it did: It formed as a trust after several mill owners in Texas and Arkansas combined syndicates to regulate the price of seeds. It became a corporation in 1889 after the trust was dissolved through a lawsuit.
Where it is now: It evolved into a company that's now part of Unilever. The original company was dropped from the Dow in 1901.
Sources: Scripophily, Wikipedia
American Sugar Company
What it did: It was the largest American company in the sugar refining business in the early 20th century, with investments in the Caribbean. It was established in 1891 with $50 million in capital.
Where it is now: It has since been acquired by American Sugar Refining, whose products include Domino Sugar. It was dropped from the Dow in 1930.
Source: Wikipedia
American Tobacco Company
What it did: The American Tobacco Company acquired over 200 competitors to become the dominant player in the industry. It was founded in 1890.
Where it is now: The Supreme Court ordered it to dissolve following an anti-trust lawsuit. It splintered into many smaller companies and renamed itself Fortune Brands. It was dropped from the Dow in 1985.
Source: Wikipedia
Chicago Gas Company
What it did: The company bought various gas and heating companies in Chicago with a capital of $25 million. It was founded in 1887.
Where it is now: It was acquired 10 years later and has evolved into a subsidiary of Integrys Energy Group, a publicly-traded company. The original company, after merging with Peoples Gas, was dropped from the Dow in 1915.
Sources: Wikipedia, "Chicago Securities" Volume 4
General Electric
What it did: It was formed as an electricity company in 1892 in a merger that included business owned by Thomas Edison, the inventor of the light bulb.
Where it is now: It is now a multinational giant with several business including power, oil and gas, aviation and transportation. It's been in and out of the Dow and is still listed.
Sources: Wikipedia
Distilling & Cattle Feeding Company
What it did: It made spirits and alcohol. It was later renamed American Spirits Manufacturing.
Where it is now: It evolved into Millennium Chemicals, the world's second-largest producer of titanium dioxide, used in products including sunscreen and paint. The original company was dropped from the Dow in 1899.
Sources: Wikipedia, "New York Supplement"
Laclede Gas Company
What it did: It used natural gas to provide home and street lighting.
Where it is now: It's still around, and describes itself as the largest distributor of natural gas in Missouri. It was dropped from the Dow in 1899.
Sources: Wikipedia, "New York Supplement"
National Lead Company
What it did: It was founded in Philadelphia in 1772 and created Dutch Boy Paint in the early 1900s.
Where it is now: It's now called NL Industries, and is a lead smelting company based in Houston, Texas. It was dropped from the Dow in 1916.
Source: Wikipedia
North American Company
What it did: It owned several public utilities and public rail companies.
Where it is now: It was broken up by the SEC in 1946 after congress passed the Public Utility Holding Company Act of 1935. It was dropped from the Dow in 1930.
Source: Wikipedia
Tennessee Coal, Iron and Railroad Company
What it did: It was a steel manufacturer with interests in coal and iron ore mining, as well as railroad operations. It was formed in 1852 in Tennessee.
Where it is now: It merged with U.S. Steel, its main competitor, in 1907. U.S. Steel still operates its last plant in Alabama. It was dropped from the Dow in 1907.
Source: Wikipedia
US Leather Company
What it did: It specialized in making leather, and grew to be one of the largest companies in the US around the early 1900s.
Where it is now: It was liquidated in 1952 and had been dropped from the Dow in 1928.
Source: Wikipedia
United States Rubber Company
What it did: The company manufactured tires including the "Tiger Paw."
Where it is now: It was acquired by French tire maker Michelin in 1990 after changing its name to Uniroyal and merging with another company. It was dropped from the Dow in 1928.
Source: Wikipedia