Description: 1868 Stock Certificate for The American Merchants Union Express Company signed by President William G. Fargo and other company executives. The stock is for 20 shares and remains in Excellent Condition with the usual punch and stamped cancellations present. Very BOLD Fargo signature. Revenue stamp on the front. Low issue #585! A little History: William George Fargo was born in Pompey in Onondaga County, New York on May 20, 1818. He was the eldest of twelve children of William C. Fargo (1791-1878). On April 1, 1845, along with Henry Wells and Daniel Dunning, Fargo organized the Western Express which ran from Buffalo to Cincinnati, St. Louis, Chicago and intermediate points, under the name of Wells & Co. Daniel Dunning withdrew from the company and in 1846, Henry Wells sold out his interest in this concern to William A. Livingston, who became Fargo’s partner in Livingston, Fargo & Company. In 1850, three competing express companies: Wells & Company (Henry Wells), Livingston, Fargo & Company (Fargo and Livingston), and Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company (John Warren Butterfield), were consolidated and became the American Express Company, with Wells as President and Fargo as Secretary.In 1866, Merchants Union hired away older companies experienced agents and invaded their territories. American Express suffered such losses in 1867 that for the first and only time in its history it failed to pay a dividend. On December 21, 1868, the four express companies (Adams, American, Merchants, and United States) reached a peace agreement, dividing the express and fast-freight business and pooling and distributing net earnings. American Express got the worst of the deal; Merchants Union acquired rights on railways that had been its bread-and-butter lines (the Hudson River and New York Central railroads) and lost its supremacy in the express business.In 1868, American Express was forced to merge with Merchants Union to form the American Merchants Union Express Company (shortened in 1873 back to the American Express Company). In 1868, upon the resignation of Henry Wells and American Express' merger with the Merchants Union Express Company, William Fargo was elected President of the American Express Company. He was president of the American Express Company until his death in 1881, at which point his brother, J. C. Fargo, assumed the presidency, which he held until 1914.Great opportunity to own a piece of 19th Century Transportation History that is 155 years old. Would look FANTASTIC framed! Please check my feedback and................Thank you for looking!! (I do not ship out of the USA.)
Price: 174.99 USD
Location: Castle Rock, Colorado
End Time: 2024-01-26T19:05:50.000Z
Shipping Cost: 4.5 USD
Product Images
Item Specifics
All returns accepted: ReturnsNotAccepted
Circulated/Uncirculated: Circulated
Type: Stock
Country/Region of Manufacture: United States