NOT SOLD (BIDDING OVER)
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This item WAS NOT SOLD. Auction date was 2010 Aug 19 @ 11:00UTC-04:00 : AST/EDT
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1869, New York. Stock certificate for 25 shares. Black with imprinted orange revenue stamp at center. Large vignette of loading dock at top center; dog's head at top left; clasped hands at bottom left. Litho. Signed as president by WILLIAM G. FARGO (1818 - 1881); Expressman. Fargo got his start in the express business at age 13 through a 30 mile mail route. Sometime later, William Fargo served as a messenger with Wells & Company, the first express company to venture west of Buffalo. Fargo became a partner in Wells & Company and, in 1850, they joined with two other express companies to form the American Express Company which covered the eastern sector of the United States; Wells, Fargo & Company, formed in 1852, covered the western sector. The outstanding success of the American Express Company brought with it many competitors, one of which was the very powerful Merchants Union Express Company and, following a fierce competitive struggle, the Merchant's Union Express was consolidated into the American Express Company, the resulting company becoming the American Merchants Union Express with Fargo as president. A nice example of restructuring of a competitive industry in its early stages. Issued to and signed on verso by CHARLES LOCKHART (b. 1818) Pittsburgh area oil buyer, producer, refiner; President of Atlantic Refining; Board of Directors of Standard Oil. Minor glue residue at left margin from stub. Extremely Fine. Diamond cut cancellation at left with paper removed, both signatures are unaffected.
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