| Wells Fargo, Stagecoach Holdups, Overland Stage Line, Union Pacific RR
Wells Fargo, and Company
Wells Fargo was a brain child of two directors, Henry Wells and William Fargo of the American Express Company as early as 1851. Wells Fargo started in California on March 18, 1852. Wells Fargo was a subsidiary of The American Express Company
Wells Fargo began providing banking and mail services in the mining camps in California. Two months later Wells Fargo had a bank and express office in San Francisco
Wells Fargo was known for red brick buildings with green shutters. Wells Fargo offices were established in Oregon, Hawaii, Australia, and throughout the Mother Lode country by 1855. At this time Wells, Fargo rented space from other Overland Stage Lines they did not operate their own Overland Stage Lines yet
The ownership of Overland Stage Lines changed when Wells Fargo acquired the Pioneer Overland Stage Line and later took control of the Butterfield Overland Stage Line. By 1863 Wells Fargo had 180 depots throughout the west. By 1864, Wells Fargo, and Company were selling over two million envelopes a year for the Wells Fargo mail service and the public was using Wells Fargo green mailboxes throughout California over the government red mailboxes
In November 1866 Ben Holladay sold out to Wells Fargo, and Company for $1,800,000. Wells Fargo, and Company used every means of transportation available in that day and age. Wells Fargo used steamers, river boats, railroad cars, freight wagons, mule trains, celerity wagons, pony express and men on skis to deliver mail
Wells Fargo will forever be remember for Overland Stage Line with the large red Concord Stagecoaches and the many Stagecoach Holdups through its history
Wells Fargo In 1868, received the largest single order shipment of Concord stagecoaches from Concord, New Hampshire. Wells Fargo chose the Concord Stagecoach from the plant of Abbot, Downing & Company
Wells Fargo, and Company had ordered thirty Concord nine passenger stagecoaches solely to serve the express needs of the Union Pacific Railroad men while they were building the Transcontinental Railroad
Wells, Fargo, and Company first Stagecoach Holdups, occurred in 1855 and during the 1860's there were 313 Stagecoach Holdups totaling to the amount of $415,000. The development of the use of private detectives led to the convictions of 240 outlaws and prevention of 34 stagecoach holdups. Black Bart was one of the most illustrious Stagecoach Holdups man with Rattlesnake Dick getting the biggest payoff of $80,000 for one Stagecoach Holdups
Wells Fargo like most of the country envisioned the union of the Central Pacific Railroad and the Union Pacific railroads in the 1870's in time for the centennial of the United States. Wells Fargo would be change beyond their expectations by the completion of The Transcontinental Railroad
Lloyd Trevis, a lawyer and entrepreneur invested heavily with the Central Pacific Railroad and became a familiar name to Collis Huntington, Leland Stanford, Mark Hopkins and Charles Crocker. There was a fortune to be made in the hauling of gold on the Central Pacific Railroad upon completion, Lloyd Trevis convinced Charles Crocker to create the express firm, Pacific Union Express and give it sole ownership of the contract to carry mail and gold on the Central Pacific Railroad
The express business grew fierce between Wells Fargo and the Pacific Union Express. Thus when the Transcontinental Railroad finally met in 1869, Wells Fargo found themselves out in the cold. In order for Wells Fargo to obtain the right to haul express on the railroad they had to pay Lloyd Trevis five million dollars for the Pacific Union Express which was a company only on paper
Wells Fargo stocks quietly fell from $100 to $13 drawing little attention from all but Lloyd Trevis. Slowly he bought up Wells Fargo stocks and by October 1869, he was in control of Wells Fargo, and Company. By 1870, Lloyd Trevis had moved the headquarters of Wells Fargo, and Company from New York to San Francisco
By the end of the century, Wells Fargo had over 2,800 branch offices and had close to 38,000 miles of Overland Stage Line and express routes. In 1918, Wells Fargo, and Company merged into the American Railroad Express Company and only the banking portion continued to hold the title of Wells Fargo. In 1923 Wells Fargo merged with the Union Trust Company and became known as Wells Fargo Bank and Union Trust Company
The associations of Wells Fargo, Stagecoach Holdups, Overland Stage Lines and Union Pacific RR will go on in history
Forever a piece of western lore, such sayings as " Throw down the box " and " Wells Fargo never forgets " will always be associated with Wells Fargo |
