Takeover of Holladay Overland History of Wells Fargo

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wells, fargo & co. 1868 display advertisement salt lake daily telegraph (utah territory)


by 1866, holladay had built staging empire lines in 8 western states , challenging wells fargo s supremacy in west. showdown between 2 transportation giants in late 1866 resulted in wells fargo s purchase of holladay s operations. grand consolidation spawned new enterprise operated under wells fargo name , combined wells fargo, holladay, , overland mail lines , became undisputed stagecoach leader. barney resigned president of wells fargo devote more time own business, united states express company; louis mclane replaced him when merger completed on november 1, 1866. wells fargo stagecoach empire short lived. although central pacific railroad, operating on sierra mountains reno, nevada, carried wells fargo s express, company did not have exclusive contract. moreover, union pacific railroad encroaching on territory served wells fargo stagelines. ashbel h. barney, danforth barney s brother , cofounder of united states express company, replaced mclane president in 1869. first transcontinental railroad completed in year, causing stage business dwindle , wells fargo s stock fall.








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