This Day in Age- Wells Fargo Established- DFH (Don’t Forget History)
On this exact date March 18 1852 the bank giant Wells Fargo is established.
On March 18 1852 the famous multi-billion dollar bank giant and investment group Wells Fargo is established. Created by Henry Wells and William G. Fargo; they decided that they wanted to create a shipping company that would take goods such as mining supplies from the east coast to the west coast. Important things that were shipped were mining supplies that were brought to camps mainly in California. They were also a bank buying gold dust and supplying loans to the miners in California with its flourishing economy. Wells Fargo later became a stagecoach company which would for a fee deliver a personal package or letter from the east coast to the west coast by horseback! Later on, the company became unrivaled as the “Pony Express” became wildly popular. In 1905, the company for the most part dropped shipping and focused more on banking and investments. It also merged with Nevada National Bank and moved its head quaters to San Franscisco, but the head quarters was destroyed the following April in a major earthquake. In 1962, the name Wells Fargo was adopted and the company has became one of the largest finicial instutitions in the United States.