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Wells Fargo, Wells, And William G. Fargo

395 Words2 Pages

The company we know today as Wells Fargo began its’ long history in March of 1852 in New York City when Henry Wells and William G. Fargo joined with several other investors to start a shipping company. This was not the first time these two had worked together, however, or the first shipping company that these two men had been founders of. They were both pioneers in the Express industry and used these skill to open their own shipping and banking business.
In 1843, seeing the potential in westward expansion, Wells founded his own company with George Pomeroy and Crawford Livingston originally named Pomeroy & Company, then Livingston, Wells, and Pomeroy, and finally, Livingston, Wells, and Company. This firm mainly transported freight only between New York City and Buffalo. …show more content…

This new business was an extension of Wells’ express company that he had started the year before. Wells & Company was the first express business to operate west of Buffalo, delivering to Midwest cities such as Cincinnati, St. Louis, and Chicago. Although the service was popular with customers, the business was unprofitable. Wells sold his shares of the firm in 1846 to William Livingston and moved to New York City where he concentrated on eastern city routes and expanded his business to London and

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