Wells Fargo and Co. - circa 1970's Stock Certificate
Inv# AX1012 Stock
CA, 1970’s or so, SPECIMEN Stock. Great portraits of Wells and Fargo by Jeffries Banknote Co. Wells Fargo was an American banking institution headquartered in San Francisco, California, which was acquired by Norwest Corporation in 1998. The California Gold Rush, which began in early 1848 at Sutter's Mill near Coloma, attracted financiers and entrepreneurs from across North America and beyond, allured by the prospect of substantial profits. Henry Wells, a native of Vermont, and William G. Fargo from New York observed the rapid economic growth in California with great interest. However, before they could explore the opportunities in the Western United States, they had commitments to fulfill in the Eastern United States.
Wells, who established Wells and Company, and Fargo, a partner in Livingston, Fargo, and Company, as well as the mayor of Buffalo, New York, from 1862 to 1863 and again from 1864 to 1865, were prominent figures in the burgeoning and competitive express industry. In 1849, they faced a new competitor, John Warren Butterfield, the founder of Butterfield, Wasson & Company. Recognizing that their rivalry was counterproductive and detrimental, Wells, Fargo, and Butterfield decided in 1850 to collaborate and established the American Express Company, which continues to operate today as the well-known credit card company American Express.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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