Description: Stock issued to and signed at back by James C. Fargo. Also rubber stamped signature of Frederick Billings. F.F. Flagg signs as witness. Rare! James Congdel Fargo (1829-1915) The son of James Fargo, James Congdel Fargo entered the employ of Wells & Co. (in which his brother, William George Fargo was a partner) at Buffalo in 1844. In 1866 after becoming agent and manager of the firms successor, the American Express Co., Fargo went to New York as General Superintendent and Manager. In 1881 he became President of the company as well as President of Westcott Express Co. and National Express Co. As president of the American Express Company James C. Fargo was well off and well known. It is not surprising that he felt insulted when he could not get checks cashed during a trip to Europe in 1890. The European bankers were steadfast as Fargo was not known to them, they would not cash his checks. Would Americans always have a cash problem when traveling in Europe? Marcellus F. Berryn, an employee of the American Express Company set out to find a solution. He wrote later: "Theres one thing every person does in a distinctive way. That is writing his signature. Therefore the foolproof device for taking money to strange places must carry the signature of the bearer. It must declare that it will be cashed only when a second, and matching, signature is added before witnesses." On July 7, 1891, Berry was granted four copyrights for what he called "the travelers cheque," and William C. Fargo got the first one. He had no difficulty when he wanted fifty dollars a few weeks later in Leipzig, Germany. In 1891, American Express sold $9,120.00 worth of travelers checks, and the amount has risen every year. During 2000, sales of American Express Travelers Cheques increased to $24.6 billion. Frederick Billings (1823-1890) Frederick Billings, lawyer, railroad executive, and philanthropist. He was the 4th of a family of 9 children. While he was quite young, the family removed to Woodstock, where his father, Oel Billings, served for many years as Register of Probate. Frederick graduated from the University of Vermont in 1844, was admitted to the bar in Windsor county in 1848, and 1846-48 served as Secretary of Civil and Military Affairs under Governor Eaton. In 1840, while on his way to California and waiting in New York for a steamer, news reached him that gold had been discovered near Sacramento. In the great rush which followed, Mr. Billings had the advantage of an early start, and was, in fact, the first lawyer to display his sign in the embryo city of San Francisco. Archibald C. Peachy was his first partner, but Major General H. W. Halleck and Trenor W. Park were taken into partnership, and for many years Halleck, Peachy, Billings & Park were the leading law firm in San Francisco. Mr. Billings was one of the founders of the College of Item ordered may not be exact piece shown. All original and authentic.
Price: 540 USD
Location: Portsmouth, New Hampshire
End Time: 2024-10-14T17:45:57.000Z
Shipping Cost: 6.25 USD
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All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
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