On #ThisDayinHistory 1852, Henry Wells & William G. Fargo join with several other investors to launch their namesake business: It was the discovery of gold in California in 1849 that prompted a huge spike in the demand for cross-country shipping Wells and Fargo decided to take advantage of these great opportunities and in July 1852, their company shipped its first loads of freight from the East Coast to mining camps scattered around northern California #AceHistoryDesk reports

#AceHistoryNews – Mar.19: The company contracted with independent stagecoach companies to provide the fastest possible transportation and delivery of gold dust, important documents and other valuable freight. It also served as a bank, buying gold dust, selling paper bank drafts and providing loans to help fuel California’s growing economy #AceHistoryDesk reports

https://t.me/HistoricalPics/8177 In the boom-and-bust economy of the 1850s, the company earned a reputation as a trustworthy and reliable business, and its logo–the classic stagecoach–became famous. During WWI, the U.S. government nationalised the company’s shipping routes and combined them with the railroads into the American Railway Express, effectively putting an end to Wells, Fargo and Co. as a transportation and delivery business: After two later mergers, the Wells Fargo Bank American Trust Company–shortened to the Wells Fargo Bank in 1962–became, and has remained, one of the biggest banking institutions in the U.S. #thewellsfargowagon #wellsfargo #History #USHistory #westward #OTD #AceHistoryNews

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