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Merchants Union Express Company Stock Certificate [132726]

Currency:USD Category:Collectibles / Autographs Start Price:150.00 USD Estimated At:300.00 - 1,000.00 USD
Merchants Union Express Company Stock Certificate  [132726]
SOLD
100.00USD+ (25.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2021 May 13 @ 11:55UTC-7 : PDT/MST
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Cert number2009 for 100 shares issued to N. C. Miller of New York, October 3, 1867. Signed by Ross as president and Knapp as Sec. Large green capital stock 200,000 share under print. Endorsed on reverse by Miller. In a rare move Miller signed the reverse of the certificate on the same date it was issued to him, rendering the certificate a free trading certificate. Therefore as far as company control goes anyone could've held the certificate. Crinkling to the paper, some foxing. Rare. Near the close of the Civil War, Merchants Union Express was created specifically to compete with American Express and the Wells-Fargo-Butterfield-Livingston business family. The Merchants Union Express raised Cain with American Express. In a swift corporate move, American Express increased their capital stock to 18,000 shares on May 1, 1866, still with Wells, Fargo and Holland at the helm. This increase in capital would allow the Company the freedom to buy other express, steamship or rail lines to strengthen their hold on a monopoly of the express business east of the Missouri River. The prospect of purchasing the Merchants Union Express was a long one. Finally, Capital Stock was issued and the companies merged November 25, 1868, allowing for a new company to emerge, The American Merchants Union Express Co.

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: 1867
Country (if not USA):
State: New York
City: New York
Provenance: Ken Prag Collection