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William Fargo
William George Fargo (May 20, 1818 – August 3, 1881) was an American businessman and politician who founded Wells Fargo and Company, originally shipping, mail delivery, a stagecoach line, and banking, now Wells Fargo banking corporation, and American Express company.
William George Fargo was born in Pompey in Onondaga County, New York, on May 20, 1818. He was the eldest of twelve children of William C. Fargo (1791–1878) and Stacy Chappel Strong (1799–1869). His younger brother was James Congdell Strong Fargo (1829–1915), president of the American Express Company for 30 years. William's education consisted only of the rudiments taught in a country school as he left school at the age of 13 to carry the mail in Pompey and help support his family.
His father, who was born in New London, Connecticut, fought in the War of 1812. The elder Fargo was stationed at Fort Niagara and fought in the battle of Queenston Heights under General Van Rensselaer that resulted in the death of British General Isaac Brock. Fargo was wounded in his right thigh, just before the Americans took possession of the ground.
His grandfather, William Beebe Fargo (1757–1801), served with distinction in the American Revolutionary War, the son of William Fargo (1726–1813). His great-grandfather was the son of Moses Fargo (1691–1798) and the grandson of Moses Fargo (1648–1742), who was born in Lyon, France. His father Jacent "Jason" Fargeau, had emigrated with his wife and children to Wales, from where Moses and his elder brother Aaron went to Norfolk, Connecticut, in 1670.
At the age of 13, Fargo left school and started carrying mail for his native village of Pompey, New York. In the winter of 1838, Fargo started working with Hough & Gilchrist, grocers, from Syracuse. He remained there for a year until he went to work with the grocers Roswell and Willett Hinman. After three years, Fargo obtained a clerkship in the forwarding house of Dunford & Co., Syracuse. In 1841, he became a freight agent, an express messenger between Albany and Buffalo, for the Auburn and Syracuse Railroad in Auburn. A year later in 1843, Fargo was a Resident Agent in Buffalo, New York. He left the Auburn and Syracuse Railroad and joined Livingston, Wells & Co., as messenger.
On April 1, 1845, along with Henry Wells and Daniel Dunning, Fargo organized the Western Express which ran from Buffalo to Cincinnati, St. Louis, Chicago and intermediate points, under the name of Wells & Co. At that time, there were no railroad facilities west of Buffalo, and Fargo, who was in charge of the business, made use of steamboats and wagons.
In 1845, Daniel Dunning withdrew from the company, and in 1846, Henry Wells sold out his interest in this concern to William A. Livingston, who became Fargo's partner in Livingston, Fargo & Company. 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), were consolidated and became the American Express Company, with Wells as President and Fargo as Secretary.
In 1866, upon the resignation of Henry Wells and American Express' merger with the Merchants Union Express Company, Fargo was elected President of the American Express Company. He was the company's president until he died in 1881, at which point his brother, J. C. Fargo, assumed the presidency, holding the post until 1914.
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William Fargo
William George Fargo (May 20, 1818 – August 3, 1881) was an American businessman and politician who founded Wells Fargo and Company, originally shipping, mail delivery, a stagecoach line, and banking, now Wells Fargo banking corporation, and American Express company.
William George Fargo was born in Pompey in Onondaga County, New York, on May 20, 1818. He was the eldest of twelve children of William C. Fargo (1791–1878) and Stacy Chappel Strong (1799–1869). His younger brother was James Congdell Strong Fargo (1829–1915), president of the American Express Company for 30 years. William's education consisted only of the rudiments taught in a country school as he left school at the age of 13 to carry the mail in Pompey and help support his family.
His father, who was born in New London, Connecticut, fought in the War of 1812. The elder Fargo was stationed at Fort Niagara and fought in the battle of Queenston Heights under General Van Rensselaer that resulted in the death of British General Isaac Brock. Fargo was wounded in his right thigh, just before the Americans took possession of the ground.
His grandfather, William Beebe Fargo (1757–1801), served with distinction in the American Revolutionary War, the son of William Fargo (1726–1813). His great-grandfather was the son of Moses Fargo (1691–1798) and the grandson of Moses Fargo (1648–1742), who was born in Lyon, France. His father Jacent "Jason" Fargeau, had emigrated with his wife and children to Wales, from where Moses and his elder brother Aaron went to Norfolk, Connecticut, in 1670.
At the age of 13, Fargo left school and started carrying mail for his native village of Pompey, New York. In the winter of 1838, Fargo started working with Hough & Gilchrist, grocers, from Syracuse. He remained there for a year until he went to work with the grocers Roswell and Willett Hinman. After three years, Fargo obtained a clerkship in the forwarding house of Dunford & Co., Syracuse. In 1841, he became a freight agent, an express messenger between Albany and Buffalo, for the Auburn and Syracuse Railroad in Auburn. A year later in 1843, Fargo was a Resident Agent in Buffalo, New York. He left the Auburn and Syracuse Railroad and joined Livingston, Wells & Co., as messenger.
On April 1, 1845, along with Henry Wells and Daniel Dunning, Fargo organized the Western Express which ran from Buffalo to Cincinnati, St. Louis, Chicago and intermediate points, under the name of Wells & Co. At that time, there were no railroad facilities west of Buffalo, and Fargo, who was in charge of the business, made use of steamboats and wagons.
In 1845, Daniel Dunning withdrew from the company, and in 1846, Henry Wells sold out his interest in this concern to William A. Livingston, who became Fargo's partner in Livingston, Fargo & Company. 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), were consolidated and became the American Express Company, with Wells as President and Fargo as Secretary.
In 1866, upon the resignation of Henry Wells and American Express' merger with the Merchants Union Express Company, Fargo was elected President of the American Express Company. He was the company's president until he died in 1881, at which point his brother, J. C. Fargo, assumed the presidency, holding the post until 1914.
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