AMERICAN EXPRESS CO.

NEW YORK. Shares of $100. black. #7500. No 3128. Trimmed left and bottom border. American Express Company was formed in 1850 in Buffalo NY by merger of Wells & Co. (itself formed in 1844 by Henry Wells and William Fargo, to operate an express service from Buffalo to Detroit), with two other lines - Livingston, Wells & Pomeroy Co., with a service from Albany to Buffalo, and Butterfield, Wasson & Co. The first public issue of shares in the new American Express Company took place in 1853. By the late 1850s Amexco's services spread from New York to the Missouri river, and by 1863 it was operating an express service between most of the important cities of today's Midwest states, to Pennsylvania and New York State, and into Canada. These were the first years of what is today one of America's biggest financial companies, issuer of a credit card that everybody knows. This share is signed by some of the most illustrious of America's 19th century businessmen: Henry Wells as president, William Fargo as Secretary and Alex Holland as treasurer. Wells was born in Thetford VT in 1805. He had entered the express business in 1841 by carrying cash and parcels in a carpet-bag across New York State from Albany to Buffalo, and pledging his integrity for their safe arrival. At that time the journey was a difficult one, switching from stage-coach to train and back again. In 1844 he formed Wells & Co., the first express concern west of Buffalo, and extended to Chicago and St. Louis. On the formation of American Express, he became its president and held that post for 18 years. In retirement at Aurora NY, he was active in banking and a railroad, and founded a college. William Fargo (1818-1881) was born in Pompey NY. He entered the express business in 1842, as a messenger for Pomeroy & Co., becoming its agent in Buffalo the following year and a few years later a partner in the firm. From 1852 onwards, he ran the operational aspects of American Express, leaving the finance to Henry Wells. Fargo was also a director of the New York Central and Northern Pacific Railroads, and Mayor of Buffalo. One of the earliest American Express pieces known, issued as part of its first capital increase, going from a capital stock of 5000 to 7500 shares. A great classic of American scripophily.

Condition: VF