Antedatings of "Blue Chip"

[Fred Shapiro]

blue chip (OED 1904, in modern sense 1932)

1885 _Boston Daily Globe_ 17 Jan. 4 (ProQuest Historical Newspapers)  New York
Sun:  A citizen who had been playing poker the night before dropped a blue chip
into the contribution box by mistake.  After service he went to the deacon who
had passed the plate and told him of the mistake.  "So I'll just give you a
dollar in its place," he said, "and we'll keep the matter quiet."  "No, you
don't," replied the deacon, ignoring the money offered; "that's a blue chip.
It's worth $5."

1892 _L.A. Times_ 12 Feb. 1 (ProQuest Historical Newspapers)  "What's bid for
100?" cried a broker, rushing up to the Reading crowd this morning. "Run away,
little boy," answered another, mopping his brow; "we are playing with blue
chips only today."

1927 _Chicago Daily Tribune_ 18 Mar. 26 (ProQuest Historical Newspapers)
Professional traders centered their activities in what are known as the Blue
Chip issues, that is, those selling above $150 a share.

1929 _Wall Street Journal_ 8 Aug. 2 (ProQuest Historical Newspapers)  The point
which your reader missed is the value behind these blue chip shares. What makes
General Electric a blue chip is nothing but the management behind it.  No
corporation in the country has finer management.  It is in the nature of its
policies that it always will have fine management. Stock dividends and
split-ups are nothing new in General Electric history, and the end is not yet.
Union Carbide's recent split is not the last, and the expected split in
Aluminum shares will not complete its record in that respect.  It is all in the
management.  It is not the speculator who makes the value of these stocks -- it
is the men who direct the company.

These citations clearly illustrate the evolution of the meaning of _blue chip_
from 'expensive poker chip' to 'expensive stock' to 'stock that is a
reliable investment because the company is well-managed.'

Fred Shapiro


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