The record-union., 1892-08-12
WELLS. FARGO & co.
John ]. Valentine Elected President
Yesterday.
The Organization and Work of the
Company : Sketch of Mr..
Valentines Life.

press company. In March, 1852, Henry
wells, William G.. Fargo and others or
canned IN New York City, under the
laws OF the State of New York, Wells,
Fargo q Company, to transact an ex-
press, exchange and banking business,
particularly on the Pacific Coast, but also,
between San Francisco, New York and
Europe.
The company sprang into existence,
Minerva-ike, fully equipped for service;
and at once engaged upon its long mis-
sion of trust and responsibility, ever
since maintaining itself successfully
amidst some of the most trying COM
mercial vicissitudes; extending its lines
farther and farther over mountains,
across deserts and plains, and along in
land waterways, until it spans the broad
continent, extending, all told, to forty
three States and Territories within the
United States of America and the Repub-
lie OF Mexico, as well as reaching British
Column bia, Great Britain and Continental
Europe. In 1888 it acquired the Erie sys-
tenn, centering in New York, and extern
slve auxiliary lines, thus securing its
own direct through lines to New York,
Boston and all other large commercial
centerS, and where it is now perma-
nently represented. The company oper-
ates nearly forty thousand miles of lines
by railway, stage and steamer; has over
three thousand agencies and more than
SIX thousand two hundred employees;
transacts millions of business annually
IN its express department and handles,
IN its banking departments, its accumu-
lated capital and deposits, amounting to
over Sll $780, 600, the largest cash assets of
any commercial banking concern on the
Pacific Coast. The main office of the
company in New York City is at So
Broadway, but its headquarters proper,
or general accounting office, is in San
francisco.
1t was Wells, Fargo q Co. that origin
ated, in 1860,
THE FAMOUS PONY EXPRESS
For the most rapid conveyance then pos
sible of important mail correspondence
undertaking demonstrated its practicable
lty, and suggested other possibilities of
accommodating the needs of the age. The
narrow trail of the Pony" may be said
to have marked out the course soon after
ward followed by the capacious mail and
passenger coaches, along with the tele-
graph wires; and in no less quick sue
cessiOn, that Of the railroad track and
switt-speeding locomotive, which now
unite in one bond of traternal intercourse
the widely separated extremities OF the
continent.
i
in which the local and general business
of the company is transacted, is one of
the marked architectural features of that
city, It's massive exterior covering two
thirds Of a block, and it is probably the
largest and best appointed express office
in the world.
JOHN J. VALENTINE
Was born at Bowling Green. XIV. No
vember Y, 1910; son Of William Cren-
shaw and Eliza Yates Cunningham Val
cntine. His American ancestor was
John Valentine, OF the Isle of Wight
County, Va, who came from England
about 1910 and died in 1862. The ancient
family OF Valentines from whom those
IA this country are descended had their
family estate, known as Bendiffe Hall. in
the Parish of IEccles, County Lancaster.
Eng. The ancestors Of J ohm j. Valen-
tine We're settled in Virginia. His great
grandfather was q soldier in the War OF
the Revolution, and served throughout
the struggle. His father, William c., re-
moved TO Kentucky in early life, and
married Eliza Yates Cunningham of
Leitchfeid. Ky.
Mr. Valentine, the subject of this
sketch, received a common school educa-
ton, and III the winter of 1876 began
his business career with Younglove
Brothers, druggists, and agents for Car
ter, Thomas & Co.'s stage and express
line IN Bowling Green, and though still
young man to outward appearance, be
has been engaged in the express business
Tor over thlrty-SeVen years.
About the time he entered the employ
of the above named firm, the construc-
ton of railroads was commenced in that
section OF the country, and as it pro-
crossed express facilities were secured by
o. Bannon, hean u Co. of Louisville
who occupied both stage and railroad
lines, but the Adams Express Company
obtained the rights and privileges en-
joyed by them, and Mr.. Valentine be-
came identified with that company, con-
tInulng IN It's service until the winter of
1861, when he resigned, and in the follow
ing spring emigrated to California, where
he was soon appointed joint agent for
Wells, Fargo d Co.'s express, the Pio-
neer Stage Company and the California
State Telegraph Company at Strawberry
Valley, Ell Dorado County, but was
shortly afterward transferred TO Vir-
ginia City, New, as agent there for the
Overland Mail Company and Pioneer
Stage Company. He acquitted himself
with so much credit that he was SUISSE
quently appointed Superintendent of the
Pioneer Stage Company, the most per-
fectly equipped and managed line in the
country.
CONTINUING To DEVELOP
Qualities adapted to transportation bust
ness, he was next appointed Superintend-
ent OF the Pacific Division of Wells.
Fargo IL Co.'s Express. AS the interests
Of this company expanded, Mr.. Valen-
tine was advanced from time to time. I'M
til in 1868 he was offered managing DO
sition al New York headquarters, but
declined. In the spring of 1869 he was
again called to New York and there ap-
pointed General Superintendent with
headquarters in that city. The business.
however, being then principally on the
Pacific Coast, it was not long before the
general office was transferred to San
Francisco, and since about the summer
OF 1870 he has resided IN California In
1882 he was elected Il director of the COM
pany, and, at the same time, TO the office
OF Vice President, and subsequently it
becoming necessary to create new Office,
that of General Manager, Mr.. Valentine
was unanimously elected TO fill the same
His career manifested from the start his
strong natural
APTITUDE FOR THE WORK
To which his life is devoted, but his tai
ents are of too versatile a character to be
entirely absorbed in one particular bust
ness. He has found time 10 prepare and
publish each year a summary Of the pro-
duce. OF gold and silver of the entire
country, which is comprehensive in its
research, and generally recognized as re-
!laDIe ana leading authority on the sub
ject.
Mir. Valentine has also found time, amid
the multifarious demands of a business
which would have absorbed the physical
strength OF a less robust and energetic
man, 10 identity himself with the great
charitable movements of the age in
seasons OF public calamity, and by organ
lied efforts among the agents and en-
ployes OF Wells, Fargo & Co. raised large
sums OF money for the relief of comnu-
n TEfF -nd L