Wells, Fargo & Company was an early American express and banking organization. Henry Wells and William G. Fargo founded the company in 1852. They planned an express service from San Francisco to New York City, with the American Express Company serving as eastern representative. In 1866, Benjamin Holladay sold his overland mail and stagecoach business to Wells, Fargo & Company, which soon became the most powerful firm in the Far West. The company established a monopoly over the stagecoach business.
Wells, Fargo & Company carried passengers, freight, and mail. It specialized in shipping gold and silver from western mines. The Wells Fargo Nevada National Bank was formed in 1905. It later became the Wells Fargo Bank. In 1918, Wells, Fargo & Company merged its express operations with two other major express companies to form the American Railway Express Company. Today, Wells, Fargo & Company and its subsidiaries provide a large network of banking and financial services.
