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American Express Co. Stock Certificate (Wells, Fargo, Holland Signatures) [134073]

Currency:USD Category:Collectibles / Autographs Start Price:500.00 USD Estimated At:1,000.00 - 2,000.00 USD
American Express Co. Stock Certificate (Wells, Fargo, Holland Signatures)  [134073]
SOLD
500.00USD+ (125.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2021 May 13 @ 11:23UTC-7 : PDT/MST
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Very early! No. 893, issued for 5 shares to Samuel Adams--no apparent relation to the Founding Father who died in 1803--on April 21st, 1854. Signed by Henry Wells as president, William G. Fargo as secretary, and Alex Holland as treasurer. Pen cancelled. Black border and print, with locomotive and telegraph pole vignette. Capital Stock 7,500 shares. Printed by Baker & Duyckink, NY. Endorsed and transferred on the reverse. Folds, areas of heavy toning, pinholes. 6.75 x 10.75" In 1854, the express business was so strong and profitable that new companies were springing up to cover specific routes where transportation of packages became essential. In competitive business ventures, some companies are formed for perhaps all the wrong reasons – things such as creating havoc, just so you can get bought out. Such was the case, as opined by A. L. Stimson in History of the Express Companies and Origins of American Railroads published in 1858. Three New York men, seeking “to inflict great injury to the established express” formed the United States Express Company in 1854. The company never made money, but caused havoc with American Express. The result was a buyout through stock purchase of United States Express by American Express, paid for by a new underwriting of stock increasing the Capital to 7,500 shares, additionally placing one of their principals on the American Express Board, Hamilton Spencer. Within a year, another company emerged as the United States Express Co., but it was completely different. On its Board and President was D. N. Barney, a part of the Wells Fargo business “family”, president of Wells Fargo from 1853-1866. This company was formed to utilize the New York and Erie Railroad routes for express business. The 1854-1859 period for American Express was anything but calm. With an explosion of the express business caused by not only the fast development of inter-state railroad development east of the Missouri River, but more importantly by the extreme amount of business generated by the California Gold Rush. (Type 2a)

Please Be Sure to Read Fred Holabird's Essay about the History of American Express & Wells Fargo, as Revealed by Stock Certificates. Found on our website (www.holabirdamericana.com) and at this link: https://static1.squarespace.com/static/5fc4471740f1034a5cbea1cb/t/608c5f973eb079200afd59db/1619812257446/American+Express+and+Wells+Fargo.pdf


Date: 1854
Country (if not USA):
State: New York
City: New York
Provenance: Ken Prag Collection