Early History
American Express was started as an express mail business in Buffalo, New York, in 1850. It was founded as a joint stock corporation by the merger of the express companies owned by Henry Wells (Wells & Company), William G. Fargo (Livingston, Fargo & Company), and John Warren Butterfield (Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company). The same founders also started Wells Fargo & Co. in 1852 when Butterfield and other directors objected to the proposal that American Express extend its operations to California.
American Express first established its headquarters in a building at the intersection of Jay Street and Hudson Street in what was later called the TriBeCa section of Manhattan. For years it enjoyed a virtual monopoly on the movement of express shipments (goods, securities, currency, etc.) throughout New York State. In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings.
Read more about this topic: American Express
Famous quotes containing the words early and/or history:
“Although good early childhood programs can benefit all children, they are not a quick fix for all of society’s ills—from crime in the streets to adolescent pregnancy, from school failure to unemployment. We must emphasize that good quality early childhood programs can help change the social and educational outcomes for many children, but they are not a panacea; they cannot ameliorate the effects of all harmful social and psychological environments.”
—Barbara Bowman (20th century)
“When the history of guilt is written, parents who refuse their children money will be right up there in the Top Ten.”
—Erma Brombeck (20th century)