Original Chex Mix
Chex cereal was introduced in 1937 by Ralston Purina. By 1952, recipes for "Chex party mix" appeared on boxes of Chex cereal. It was not until 1985 that pre-packaged Chex Mix was introduced commercially by Ralston Purina and the trademarks registered to it. Chex party mix became popular as a holiday treat when purportedly in 1955, the wife of a Ralston executive in St. Louis served the snack at a holiday function. However, Chex party mix was not a unique idea: it was one of many popular "TV mixes" – snacks which could be consumed without interrupting television watching – which appeared in the 1950s with the introduction of television. For example, a 1950 Betty Crocker cookbook includes a recipe for a snack mix made with Kix cereal.
Corn Chex was introduced in 1958, so the original recipes did not include it. Pretzels were not included in all early recipes and bagel chips were added later.
"Original Chex Mix" from Chex.com web site - obviously this is NOT the original Chex Mix.
Besides containing ingredients not in the original recipe, this recipe uses a microwave which was not a common item in most households in the 1950s.
3 cups Corn Chex™ cereal
3 cups Rice Chex™ cereal
3 cups Wheat Chex™ cereal
1 cup mixed nuts
1 cup bite-size pretzels
1 cup garlic-flavor bite-size bagel chips or regular-size bagel chips, broken into 1-inch pieces
6 tablespoons butter or margarine
2 tablespoons Worcestershire sauce
1 1/2 teaspoons seasoned salt [celery salt]
3/4 teaspoon garlic powder
1/2 teaspoon onion powder
In large microwavable bowl, mix cereals, nuts, pretzels and bagel chips; set aside. In small microwavable bowl, microwave butter uncovered on High about 40 seconds or until melted. Stir in seasonings. Pour over cereal mixture; stir until evenly coated.
Microwave uncovered on High 5 to 6 minutes, thoroughly stirring every 2 minutes. Spread on paper towels to cool. Store in airtight container.
Substitution: The original recipe includes Corn Chex™, Rice Chex™ and Wheat Chex™. You can mix and match to suit your taste—just use a total of 9 cups of cereal.
Healthy: To reduce the fat to 2 grams and the calories to 80 per serving, use 3 tablespoons margarine instead of the 6 tablespoons butter, omit mixed nuts and use fat-free bagel chips.
Original 1950s Chex Mix
This recipe is taken directly off the back of a 1950s Chex cereal box. Notice that Corn Chex and bagel chips are not included in the recipe.
1/2 cup butter or margarine
2 tablespoons Worcestershire sauce
1-1/4 teaspoons seasoned salt
1/4 teaspoon garlic salt
3 cups Wheat Chex square cereal
2 cups Rice Chex square cereal
1-1/2 cups peanuts
1-1/2 cups small pretzel rods
Preheat oven to 275 degrees F. Melt butter in a shallow pan. Stir in Worcestershire sauce, seasoned salt, and garlic salt (not garlic powder). Add Wheat Chex, Rice Chex, nuts (peanuts, pecans or cashews), and pretzel rods. Mix until all pieces are coated with the butter mixture.
Place on a shallow baking pan with sides. Bake for 40 minutes, stirring every 10 minutes. Cool.

Life magazine recipe from June 16, 1952
Try this new PARTY MIX
Add 1/2 c. butter in shallow baking pan. Stir in 1 T. Worcestershire sauce. Add 2 c. Wheat Chex, 2 c. Rice Chex, and 1/2 c. nuts. Sprinkle with 1/4 t. salt and 1/8 t. garlic salt; mix well. Heat 30 mins in 300 degree oven, stirring every 10 minutes. Cool.
Life magazine recipe from May 19, 1952
Chex Party Mix
2 cups Rice Chex
2 cups Wheat Chex
1/2 cup nuts
1 Tablespoon Worcestershire sauce
1/4 teaspoon salt
1/8 teaspoon garlic salt
1/3 cup melted butter
Mix Rice & Wheat Chex & nuts in a shallow baking dish.
Pour over a mixture of Worcestershire sauce, salt, garlic salt, melted butter; stir well.
Heat 30 minutes in 300 F oven, stirring every 10 minutes. Cool.
Ralston-Purina had other similar recipes --
November 17, 1952 - Chex 'Buttered 'n Salted Wheat Chex' - a more basic recipe.