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Wells Fargo Rise From Express Monopoly to Bank Power
Lloyd Tevis and James Haggin steered Wells Fargo through the Pacific Union Express takeover after backing the Central Pacific. They moved HQ to San Francisco, split express and banking, and built a profits-driven empire with steep dividends. The Omaha treaty enabled Wells Fargo to acquire Pacific Union Express for a third of its capital, expanding capital from 10 to 15 million and securing the exclusive Central Pacific express contract.
MENTIONED IN THIS ARTICLE
Union Pacific
Central Pacific
Utah
Wells Fargo and Company
Wall Street
Montgomery Street
Lloyd Tevis
James B. Hagein
Charles Crocker
C. P. Huntington
Pacific Union Express
Promontory
Tevis
Stanford
William Fargo
A. H. Barney
Charles Fargo
San Francisco
Sacramento
Reno
Virginia City
Comstock
Fargo Brothers
Omaha
New York
Wells Fargo
Skeleton-Organization
Haggin
Wells Fargo Bank
Sansome Street
Express
Second and Mission Streets
Wells Fargo Bank Department
James Haggin
Mills, Sharon
Ralston
Bank of California
Flood, Fair and Mackay
Nevada Bank
Milton Latham
Find London Bank
Alvinza Maynard
Merchants’ Exchange Bank of
Leland Stanford
James C. Fargo
Charles C. Crocker
Express Company
John J. Valentine
Homer King
Southern Pacific System
Edward H. Harriman
Southern Pacific
Harriman
Isais Hellman
Bonanza
Wok
Wells Fargo Banking Department
Wells Fargo-Nevada National Bank
Wells Fargo Bank and Trust Company
Nevada
Wells Fargo Express Company
American Railroad Express
James B. Haggin
Ontario
Homestake
Anaconda