Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-21
Renewal of the Branch Office
Across the Street TO Walk.
er's Tomorrow
HISTORY OF THE INSTITUTION.
Originally the Halliday Overland
Stage and Express Company In
corporsted In 1859,

The removal OF the WELSH Fargo
branch bank to the Walker Bros. bank
will be effected tomorrow evening, after
business hours; and the Wells Fargo
clerks viii go over also to help adjust
the merger, So that the place that has
known the old time banking institu-
ton for 80 many years will know it no
more forever. Cashier Miller remains
In this city for u short time In ofliciat-
ing at the funeral, and then returns to
San Francisco where It is understood
the parent Institution will have a pleas
ant place ready for him.
With the change there ia n disap-
pearance Of one Of the old landmarks
of this part Of the country, which are
gradually fading away. The incorpora-
ton Of the Wclls-Fargo company Is
stated to have occurred In 1852, and
was originally the Halliday overland
Stage and Express company which
carried the United States mails across
the western part Of the continent be-
fore the railroads were built. The COR
poration was organized under the laws
of the Territory Of Colorado, and the
Wells-F Fargo purchased the stock Of
the corporation, and afterwards caused
AN act TO be procured changing the
name from the Overland TO the Wells
Fargo company The charter was es-
peClally valuable because 1t was per-
petual, but all such charters are now
prohibited by the laws Of the United
States The charter Will not be given
g,FN ~ "a ~
Of the banking business, but be held
for the conduct of the express busl-
ness. Local financial men are wonder
ing why, with charter like this, the
company Is retiring from banking;
they consider 1t IN fact, unXeplainable
The largest stakeholder Is the South
| eTn Pacific company now controlled
| by f. II. Hartman. The next largest
stakeholder Is the Croker estate, OUT
| side OF these two. the stock Is owned
| by "the dear public" perhaps more
| than any other corporation in the Unit
| ed States; and the stock Is so widely
| distributed and held 80 closely by its
| owners and has paid such large divi-
| bends, that all the officers need do AT
| annual elections is to require proxy
| In order to vote, The capital stock Of
| the Wells-Fargo company is $4,000
| dividends semi-anually and the stock
| is held in New York at 2i0 to 250,
The express company operates all
over the western country, and has two
| lines from Chicago "A San Francisco,
and one from New YoSk to Chicago. II
Is not generally known the extent to
! which the express company operates. II
| has an immense wharf in Jersey City
used exclusively for its business, and
sends a whole train load OF express
! matter daily from New York TO Chi
! cago. The branch banking establish
/ ment In this city was started In a
| small way late in the hftles, with The
/ odore f. Tracey as The first cashier and
| manager. He was succeeded by w. l.,
! Greenhouse, who i'm turn was followed
| by Henry Wadsworth, Mr. Wadsworth,
! after serving three years, was succeed
ed by John h. Dooy Of this city, who
held the position for % years, beginning
| May Is, 1876. Mr.. Dooly retired in 1909
| and was succeeded by II. l., Miller, the
| present and hnal incumbent,