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 Document signed "Henry Wells" as President and "Wm G. Fargo" as Secretary of American Express Company, one page; New York, April 14, 1860. Certificate #546, for 1 share. Uncancelled. Scarce in this fine condition. Archival framing.
On exhibit at Fraunces Tavern Restaurant in Manhattan. Inventory# 12007 $2,250
Historical Background:
Henry Wells (1805-1878) and William George Fargo (1818-1881). Wells entered the express business early as an agent, and recognized and suggested the profitability of a regular route between Albany and Buffalo. Wells and two partners (William Fargo and Daniel Dunning) began the weekly trips in 1843, eventually expanding the business westward from Buffalo to Chicago, with William G. Fargo in charge of that division, under the name of Wells and Co. Meanwhile, they established a letter express to carry communications from New York to Buffalo at less than one-fourth the government's rate. Every means was taken by the National authorities to destroy the enterprise, but without success. In 1846 a European express was established with offices in London and Paris.
Competition with similar companies resulted in the consolidation of the different organizations in 1850, and the formation of the American Express Company, of which Mr. Wells was elected President. In 1832, Wells and Fargo and others formed the firm of Wells, Fargo and Co. for conducting the express business in the far West. In 1860, the American Express Company was reorganized with a capital of one million dollars, and Wells acted as its President (until 1868). Wells and Fargo bought the Pony Express (1861) and the Overland Mail Co. (1866). Fargo became Mayor of Buffalo (1862-66). Wells gave $150,000 to found and endow Wells Female College at Aurora, NY, one of the first institutions in this country for the higher education of women.
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