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Lot 1513: AMERICAN EXPRESS CO.
29 October 2016
Brussels, BelgiumLive Auction
Description: 24 October 1865 NEW YORK. Shares of $500. black. #10000. No 2294. Slight discolouration, as usual with early AmEx certs. Express Company was formed in 1850 in Buffalo NY by merger of Wells & Co. (itself formed in 1844 by Henry Wells and William Fargo, to operate an express service from Buffalo to Detroit), with two other lines - Livingston, Wells & Pomeroy Co., with a service from Albany to Buffalo, and Butterfield, Wasson & Co. The first public issue of shares in the new American Express Company took place in 1853. By the late 1850s Amexco's services spread from New York to the Missouri River, and by 1863 it was operating an express service between most of the important cities of today's Midwest states, to Pennsylvania and New York State, and into Canada. These were the first years of what is today one of America's biggest financial companies, issuer of a credit card that everybody knows. This share is signed by some of the most illustrious of America's 19th century businessmen: Henry Wells as President, William Fargo as Secretary and Alex Holland as treasurer. This is an issue from 1865. At that time, the company capital consisted of 10,000 shares of $500 each.
Condition Report: VF