Random House Value Publishing, 1987. As for Fargo, he served twice as mayor of Buffalo during the Civil War. Send letter of application, resume, and three letters of reference to: To Mike Machholz, Athletics Director, Missouri Valley College, 500 East College, Marshall, MO 65340 or email at bultmannd@moval.edu EOE/AA. In the express business they competed with the United States Post Office by carrying mail at less than the government rate. During the years under American Express, however, Wells Fargo also developed security services; these, together with rights to the Wells Fargo name, were sold in 1967 to Baker Industries, Inc., and survived through subsidiary Wells Fargo Armored Service Corp., which included Wells Fargo Guard Services and Wells Fargo Alarm Services. Through prosperity, depression, and war, customers have turned to Wells Fargo for the solutions they needed to survive and thrive. Wells Fargo, multinational financial services company with headquarters in San Francisco, California. Also signed as Secretary by WILLIAM G. FARGO (1818-1881) Expressman, co-founder of American Express Co. and Wells, Fargo . 2023, A&E Television Networks, LLC. They write new content and verify and edit content received from contributors. His 20+ years as an editor and writer have included roles in book publishing, marketing, technical writing, travel, and personal finance. Born in Vermont, where his father was a Congregationalist preacher, Henry Wells was a big, self-educated man who dressed sharply and spoke with a stutter. Poco tiempo despus, Henry Wells se asocia con William Fargo, formando la Wells Fargo Co. Fargo also invested in many businesses in railroad towns. At his request it contained wood from all the states of the Union. . Prior to his military service, he graduated from Cleveland State University, having majored in sociology. By the spring of 1854, some of the directors of Wells Fargo had become convinced that the purchase had been brought about through unspecified misrepresentations by Wells, Johnston Livingston, William N. Babbitt and S. De Witt Bloodgood. It was deemed too expensive to maintain and with no buyer, the mansion was demolished and the block cut into residential lots in 1901. He devoted his fortune to founding Wells College in Aurora, New York, in 1868 one of the nations first institutions of higher learning for women. Wells Fargo typically offers business lines of credit to borrowers with 680 or above credit scores, which makes it an unlikely choice for a business loan with bad credit. It also established a global presence through subsidiaries, affiliates, and retail branches. After being involved in financial scandals and lawsuits in the 2010s, the company is trying to restore its reputation and improve its customer service. In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Box 702 Wells Fargo: An Overview . The companys travel-related offerings include travelers checks, credit cards, corporate and personal travel planning services, tour packages, and agencies for hotel and car-rental reservations. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA. He was the eldest of twelve children of William C. Fargo, a farmer, and his wife Tacy Strong. ", J.D. "Wells Fargo Business Term Loan Questions. Chief Executive Charlie Scharf has said repairing the 171-year-old bank founded by Henry Wells and William Fargo has taken longer than he expected when he took over in 2019 . Financial services have evolved into many aspects of money handling. Both companies flourished. The company prospered so well that they built a new 10 story building in 1891, a tall building for those days. 1999 - 2023 Wells Fargo. Youll also have to have two years in business if youre applying for the Wells Fargo BusinessLine line of credit, or have more than $2 million in annual sales for the Prime line of credit. Henry Wells William George Fargo (20 May 1818-3 August 1881) was Mayor of Buffalo, New York (D) from 1862 to 1866, succeeding Franklin A. Alberger and preceding Chandler J. Web site: http://www.dhl.com, Henry, Carl F(erdinand) H(oward) 1913-2003, https://www.encyclopedia.com/reference/trade-magazines/wells-henry, https://www.encyclopedia.com/history/news-wires-white-papers-and-books/wells-henry-1805-1878. [2][9], Fargo was a director and vice-president of New York Central Railroad Company, a director and shareholder of the Northern Pacific Railway, a director of the Buffalo, New York and Philadelphia Railroad Company, and a shareholder in the Buffalo Coal Company and the McKean and Buffalo Railroad Company. American businessman and politician (18181881), Buffalo, New York and Philadelphia Railroad Company, "CLOSE OF A BUSY CAREER | THE HON. Visiting address: Drottninggatan 82, 4th floor For an unsecured line, youll have to wait for written notification from Wells Fargo to find out if youre approved and for how much. His mother, Dolly, was a homemaker. New communities and industries have emerged and grown. This means that every time you visit this website you will need to enable or disable cookies again. We're sorry, but some features of our site require JavaScript. Born on May 20, 1818, in Pompey, New York, Fargo was the eldest of 12 children born to William C. Fargo and Tracy Strong Fargo. Henry Wells took the stagecoach to Buffalo to deliver packages and money for customers in the early 1840s. A lot has changed since 1852. WILLIAM G. FARGO DIES AT BUFFALO YESTERDAY", "National Register of Historic Places Listings", President of Wells Fargo & Company Express, https://en.wikipedia.org/w/index.php?title=William_Fargo&oldid=1153322274, Burials at Forest Lawn Cemetery (Buffalo), Short description is different from Wikidata, Wikipedia articles incorporating a citation from the 1911 Encyclopaedia Britannica with Wikisource reference, Wikipedia articles incorporating text from the 1911 Encyclopdia Britannica, Creative Commons Attribution-ShareAlike License 4.0, Georgia Fargo (18411892), who died unmarried, Alma Cornelia Fargo (18421842), who died young, William George Fargo, Jr. (18451872), who married Minerva Elizabeth Prendergast (18481873), Hannah Sophia Fargo (18471851), who died young, Mary Louise Fargo (18511852), who died young, Helen Lacy Fargo (18571886), who married, Edwin Morgan Fargo (18611865), who died young, This page was last edited on 5 May 2023, at 15:46. (Show more) See all related content Recent News Apr. Articles with the HISTORY.com Editors byline have been written or edited by the HISTORY.com editors, including Amanda Onion, Missy Sullivan, Matt Mullen and Christian Zapata. Photo Credit: Courtesy of the Metropolitan Museum of Art. In 1850, Henry Wells, William G. Fargo and others founded the American Express Company in New York. Fargo was a lifelong Democrat and stood against secession. These boxes were fiercely guarded by an armed company agent, as many stagecoach bandits discovered to their detriment; the legendary gunslinger Wyatt Earp was one such guard. Most applications for a Wells Fargo business line of credit will involve getting on the phone or stopping in to a branch to speak with a loan specialist. Wells Fargo & Co. 420 Montgomery Street. container.style.maxHeight = container.style.minHeight + 'px'; But during the heyday of stagecoaching, few names were more well-known than Wells Fargo. Businesses with more than $2 million in annual sales with larger borrowing needs can apply for this secured line of credit from $100,000 to $1,000,000. However, if you are a banking customer, you can begin the process online. Secured line of credit available: Wells Fargo Prime Line of Credit utilizes collateral including accounts receivable, inventory, or equipment. In his adult life, Fargos business investments included many railroad companies, leading to his role as a director of the Northern Pacific Railroad. Our editors will review what youve submitted and determine whether to revise the article. For term loans, though, youll have to look elsewhere. Henry Wells demanded that courtesy dominate all transactions, and the company served all, regardless of creed, colour, or gender. Edwin B. Morgan of Aurora was the company's first president, and Wells, William Fargo, Johnston Livingston and James McKay were on the boards of both Wells Fargo and American Express. In 1969 the holding company Wells Fargo & Company came into being; it owned all shares of Wells Fargo Bank, NA, as the bank was renamed. Credit Card Industry: A History. The same year the American Express Company was formed as a consolidation of Wells & Company; Livingston, Fargo & Company; and Wells, Butterfield & Company. Corrections? William Fargo | Historica Wiki | Fandom On the same block where Wells Fargo first opened for business in 1852, visitors can explore artifacts from our past and reflect on the people who helped build our world today. It offered secure transportation and banking services. American Express Company, American financial corporation that primarily issues credit cards, processes payments, and provides travel-related services worldwide. Wells Fargo offers a full suite of personal and business financial services, from checking and savings accounts to credit cards to mortgages and loans. [5] In 1841, he became a freight agent, an express messenger between Albany and Buffalo, for the Auburn and Syracuse Railroad in Auburn. Today, its the 4th largest U.S. bank with about 4,700 banking locations and approximately $1.9 trillion in assets. [3] Michael Rizzo, a Buffalo historian, wrote:[1], the 'most elaborate and costly private mansion in the state,' outside of New York City. Headquartered in Buffalo, New York, Butterfield objected to expanding the business to include deliveries to California, causing Wells and Fargo to start Wells Fargo and Company in 1852. With Wells Fargo, you can expect more of a traditional business loan experience that involves phone or in-person communications, and a slower process than what digital lenders may offer. HEAD TRACK AND FIELD COACH in Marshall, MO for Missouri Valley College They and other investors established Wells, Fargo & Company in March 1852 to handle the banking and express business prompted by the California Gold Rush. Photo Credit: The Herald, New York, Jan. 14, 1836. As an Amazon Associate, I earn from qualifying purchases via links in the Historical Evidence sections of articles. Fargo climbed aboard the stagecoach and steamboat to deliver packages, paper and money, including a regular eight-day trip from Buffalo to Detroit. In 1850, Henry Wells, William G. Fargo and othersfounded the American Express Company in New York. Fax: (415) 593-1689 In 1960 it merged again, this time with the giant American Trust Company (dating to 1854), to form the Wells Fargo Bank American Trust Company. HIs father, Shipley, was a Presbyterian minister. Position available starting July, 2023. Existing customers can apply online: If you have already been a Wells Fargo bank account holder for a year or more, you can complete your business line of credit application online. However, the date of retrieval is often important. William George Fargo (May 20, 1818 August 3, 1881) was a pioneer American expressman who helped found the modern-day financial firms of American Express Company and Wells Fargo with his business partner, Henry Wells. To showcase this colourful past, the company later established museums in cities across the United States. Chief Executive Charlie Scharf has said repairing the reputation of the 171-year-old bank founded by Henry Wells and William Fargo has taken longer than he expected when he took over in 2019. His younger brother was James Congdell Strong Fargo (18291915), president of the American Express Company for 30 years. Photo Credit: Picture Book of Earlier Buffalo, Frank H. Severance, 1912, One of his fondest memories during the early days of his business was when he successfully delivered fresh oysters to Buffalo. Wells was born Dec. 12, 1805, as the third of four children of itinerant Presbyterian preacher Shipley Wells and Dolly Randall Wells in Thetford, Vermont. Financial Entrepreneur. He paid to ship care packages to Buffalo troops, provided a local regiment with a regimental flag, and, in 1864, helped Union forces prevent a Confederate plot to invade Buffalo and other Lake Erie cities. His grandfather was William Beebe Fargo (17571801), who served with distinction in the American Revolutionary War,[5] the son of William Fargo (17261813). That company had been founded as a joint stock corporation only eight years earlier, with the merger of the express companies owned by Henry Wells and William G. Fargo (who also founded Wells Fargo). American Express soon moved its headquarters to New York City where they maintain their headquarters today. [15], On September 5, 1827, Wells married Sarah Caroline Daggett (18031859), the daughter of Levi Daggett (17681835) and a descendant of the Doggett colonial settlers. Fargo's wife Anna died in 1890 and their two surviving children lived elsewhere so the Fargo Mansion stood vacant for 10 years. His father Jacent Fargeau, had emigrated with his wife and children to Wales, from where Moses and his elder brother Aaron went to Norfolk, Connecticut in 1670. (However, Livingston, Wells & Company continued to operate under that firm name in England, France and Germany. Dedicated express messengers like Wells offered an affordable and secure alternative by acting as a paid courier for multiple customers. He supported the Union during the Civil War by paying a part of the salary of his employees that were drafted. Origin of Wells, Fargo & Company 1841-1852 - JSTOR Tales of the express, not the bank, made the name Wells Fargo famous, and its transcontinental delivery operations gave rise to the companys most-enduring symbol, the horse-drawn nine-passenger Concord (New Hampshire) stagecoach, a fleet of which the company operated for public events into the 21st century. Now, more than a figure from our past, the Wells Fargo stagecoach is a living part of our American story and a symbol of how we're always driving forward. lo.observe(document.getElementById(slotId + '-asloaded'), { attributes: true }); American Express started out as an express mail delivery company, a merger of companies owned by Wells, Fargo, and John Butterfield (who co-owned another company with Wells). The company also had a publishing division, which produced such magazines as Travel & Leisure and Food & Wine. On March 18, 1852, in New York City, Henry Wells and William G. Fargo join with several other investors to launch their namesake business, today one of the world's largest banks. Fargo served on the board from 1852 to 1881, the year he died. He died on August 3, 1881, after battling an illness for several months. Harnden replied, with little foresight, If you choose to run an Express to the Rocky Mountains, you had better do it on your own account; I choose to run an Express where there is business. Wells left Harndens company to start a business of his own. You can find out more about which cookies we are using or switch them off in settings. Time in business: The Wells Fargo BusinessLine line of credit requires a minimum of two years in business. The paper credit cards were soon replaced by the familiar plastic variety, and aggressive tactics whereby American Express would give discounts to retailers that would only accept American Express cards and not competitors (such as Visa, Discover, and MasterCard) generated allegations of unfair practices. [1] Wells worked as a freight agent before joining the express business. but does not endorse and is not responsible for the content, [4] About the time the company was formed, he relocated in Aurora, New York, which remained his home for the rest of his life. Yes, Wells Fargo is a Preferred SBA Lender, offering SBA 7(a) and SBA 504 loans. About Henry William Dwight Wells. The property later became part of Wells College, which Wells founded. Once all of your information is submitted, processing can take a couple of weeks. Technology has made communication and bank transactions faster than ever before. Sweden An iconic company product, the Travelers Cheque, was created in 1890 when a company executive had trouble with his credit in Europe. [7] In 1850, three competing express companies: Wells & Company (Henry Wells), Livingston, Fargo & Company (Fargo and William A. Livingston), and Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company (John Warren Butterfield),[8] were consolidated and became the American Express Company, with Wells as President and Fargo as Secretary. His great-grandfather was the son of Moses Fargo (16911798)[6] and the grandson of Moses Fargo (16481742), who was born in Lyons, France. Former home on Rich Products complex may have belonged to Henry Wells When Crawford Livingston died in 1847, another of his brothers entered the firm, which became Wells & Company. 1865, New York. In the year 1841, Vermont-born Henry Wells, whose name was to rank in promi-nence with that of William F. Harnden and Alvin Adams in the HISTORY.com works with a wide range of writers and editors to create accurate and informative content. ins.id = slotId + '-asloaded'; CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit Accounts.". Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. Henry Wells was from Auburn, NY (80-miles from Utica), and William Fargo was from Pompei, NY (50-miles from Utica) and their express companies of Wells & Co., and Livingston, Fargo & Co. became competitors of Butterfield, Wasson & Co. Butterfield saw the benefit of forming one company by consolidating the three separate companies. Today American Express is the 25th most valuable company in the world, with assets of over $181 billion and 55,000 employees. It was located on the same site as the banks headquarters today; William G. Fargo in the 1860s. ; FUNERAL SERVICES AT HIS HOME IN AURORA ON THE LAST DAY OF 1878", https://en.wikipedia.org/w/index.php?title=Henry_Wells&oldid=1160363699, Charles Henry Wells (18281891), who married Louisa Burnham (18321905), Mary Elizabeth Wells (18301884), who married James H. Welles (18191873), This page was last edited on 16 June 2023, at 01:22.
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