Autographs
Rare 1854 Wells & Fargo Signed American Express Stock Certificate of Earliest Known Form American Express Stock
HENRY WELLS & WILLIAM FARGO. Partners in Wells, Fargo, & Company, formed in 1852 by the merger of companies owned by HENRY WELLS (1805-1878), the founder and President of the American Express Co. (served 1850-68); and WILLIAM GEORGE FARGO (1818-1881), American Express owner, Secretary of the American Express Co. after the merger of Wells & Company with two other express concerns (served as President from 1868-81 after larger merger).
October 16th, 1854-Dated, "Rarest style" Partially-Printed Document Signed, by both Henry Wells & William Fargo, Uncanceled, measuring 6" x 10.5" (by sight), matted to 10.5" x 14.5" overall, Choice Extremely Fine. Tipped at top edge to its display mat, a very clean, pleasing bold fully issued and completed Stock Certificate, "Capital Stock 7,500 Shares" at left margin, "Shares 100 Dollars Each" at right margin, issued at New York. This Certificate for 17 Shares ($1,700 in 1854 Cash Value) of the American Express Company numbered "1172" made to "Sullivan Moulton, Jr.," Fully Signed, "Wm. E. Fargo, Secretary" and "Henry Wells, President" at the lower edge, and Countersigned by Treasurer "Alex Holland", all in nice sharp brown ink. Boldly endorsed on the blank reverse "S Moulton" in bold brown ink.
William Fargo organized Wells, Fargo & Company to handle express business between New York and California (1852). This is the much rarer, earliest issued style Printed Stock Certificate Form that shows a nice Steam Locomotive Train vignette at top center. Extremely rare, with 17 Shares sold to one of the early "outsiders" allowed to purchase stock in American Express. This certificate similar to the two specimens sold by R.M. Smythe & Co. more than 16 years ago. 1854 (One of perhaps Six Known of this early variety to Exist, located in a specific major collections, according to Fred Holabird in 2021), Wells, Fargo, Holland. Same printer. March 1854 has (4) Telegraph Lines (a later issue printed variety has (3) telegraph lines) listed by Holabird as: "Capital Stock 7,500 shares. 1854-1859. Type 'a'". Another, thought to be the Earliest Known dated Certificate, April 29, 1853 and similarly signed, sold for $4,880 at auction in May 2021 being of similar quality.
The formation of the American Express Company on March 18, 1850 was for an "Unincorporated Association," a form of company in which all of the members are responsible for their debt. The Capital Stock of American Express until March, 1852, when it was noted that the Capital Stock was 200,000 shares.
At that time a friendly formation of Wells, Fargo & Co on March 18, 1852, and the formation of a new stock corporation of the American Express Co. at $200,000 in 2,000 shares. This early "public" company appears to be the first issuance of printed stock certificates for American Express. The Company retained their ten year business window effective to December 31, 1859.
Stock Certificates from the 7,500 share, $750,000 Capital Period, 1854-1859 Stock certificates issued and used through the 1854-1859 period evidence three different printed and several different signature varieties, which allows for advanced collectors to acquire rarities.
All of these certificates carry the "Capital Stock 7,500 shares" designation at the far left of the certificate in big bold print. During this period, Henry Wells did not sign all the certificates as president, and instead John Butterfield signed in his stead as Vice President from about August 1 to about the 20th of December, 1859.
The last ten days or so of the Company, Wells continued to sign the newly issued certificates. The very last group of certificates from December appear to reflect last-minute trading before the company was sold to the shareholders. The few blank certificates are clearly unissued remainders from the "back of the book."
Credit and for further Information Online to Read Fred Holabird's Essay about the History of American Express & Wells Fargo, as Revealed by Stock Certificates. See:
https://static1.squarespace.com/static/5fc4471740f1034a5cbea1cb/t/608c5f973eb079200afd59db/1619812257446/American+Express+and+Wells+Fargo.pdf