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Charles Henry Dow was the son of a farmer and a man of little education. He and Edward Davis Jones were news reporters from Rhode Island,
who made their way to New York City in 1879 with two interests: news and finance. The logical place for them to go was Wall Street, which was
and is the heart of New York’s financial district, and the best job for them to pursue was reporting financial news. By 1882, they teamed with their
fellow reporter, Charles Bergstresser, to begin Dow, Jones & Co., which published handwritten financial news bulletins from a small office located
beneath a candy store on Wall Street. Within a year, they were publishing the Customer’s Afternoon Newsletter with an article called “Morning
Gossip,” which revealed the word on the street about the financial world. From these simple beginnings, one of the world’s leading financial
newspapers, The Wall Street Journal, would rise.
On July 8, 1889, The Wall Street Journal hit the newsstands of New York City. Dow, Jones, and Bergstresser were committed to giving
unbiased financial news, and they soon became a trusted source of financial information. It was common practice at the time for companies to bribe
reporters with stock or stock market tips in order to entice the reporters into describing the company’s prospects favorably, which would have a
positive influence on stock values. Dow, Jones & Co., however, would not be bought. The Wall Street Journal was quickly recognized for its
integrity as it promised to be unbiased and published the names of companies that were not upfront about their profits and losses.
As a leading financial newspaper, The Wall Street Journal was mainly concerned with the stock market. As such, Dow developed several stock
market indices, the most famous of which is the Dow Jones Industrial Average (DJIA). Originally, the DJIA was calculated each day as an average
of 12 companies’ closing stock prices; all of these companies were industrial. Today, the index is figured using closing stock prices of 30 companies
and many of these are not industrial. The DJIA was first published in The Wall Street Journal in 1896 and is now one of the most influential and
highly relied upon stock market indices. Similarly, The Wall Street Journal has become not only a national newspaper with regional editions
available, but also one of the most trusted financial newspapers in the world.
According to the passage, what can be inferred about the secret to the success of The Wall Street Journal?
AIt was successful because it was first published in New York City.
BIt was successful because it published several stock market indices.
CIt was successful because it provided honest and objective reporting.正確答案
DIt was successful because it was mainly concerned with stock markets.
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