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On this day: October 29

Published On: Oct 28 2012 10:43:56 PM CDT   Updated On: Oct 29 2013 01:00:00 AM CDT

The Red Cross is formed, the New York Stock Exchange crashes on "Black Tuesday," Cassius Clay fights for the first time, and John Glenn returns to space, all on this day.

OTD October 29 - ballpoint pen
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Reynolds International Pen Company

1945: The first ballpoint pen in the U.S. goes on sale at Gimbels Department Store in Manhattan for the then-luxurious price of $12.95. The new pen, the brainchild of Chicago businessman Milton Reynolds, was an immediate success, with more than $100,000 worth sold on the first day. However, the pen, which had a tendency to leak and skip, became a fad that faded quickly. By 1948, the price had dropped to less than 50 cents.

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