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Merchants Union Express Company Stock Certificate [134080]

Currency:USD Category:Collectibles / Autographs Start Price:100.00 USD Estimated At:200.00 - 400.00 USD
Merchants Union Express Company Stock Certificate  [134080]
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Inc. in New York. No. 2925 issued for 25 shares to Charles Achard of Scottsville, on Sept. 19th, 1867. Signed by president EP Ross, secretary Knapp and the treasurer (illegible). Transferred on the back to the American Merchants Union Express Company. Black border and green underprint, vignette of express wagon leaving train depot. Printed by Hatch & Co., NY. Endorsed on the reverse. 5 cent adhesive revenue stamp attached at bottom left. Heavy toning, creases, tears along edges, pinholes, some fading of the ink. Approx. 9 x 11.5" 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 Company.

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