chain of events attending the Overland service. Parallel with the operations of the Overland Mail Company on the Southern route, a mail service was run once a month, on long schedule time, on a line considerably more to the north, known in those days as the "Central Route," the eastern division (from St. Joseph, Mo., to Salt Lake City) being owned and operated by John Hockaday, and that of the west (Salt Lake City to Sacramento), by George Chorpening. In 1859, when the Pike's Peak country (now the State of Colorado) came into prominence as a mining region, the eastern half of this combination was absorbed by the "Central Overland California and Pike's Peak Express Co.," a new organization founded by the successful freighting firm of the border, Russell, Majors & Waddell, and John S. Jones, and a stage and Express line was established between Leavenworth City, Kansas, and Denver, over the Smoky "Hill" Route, changing, in 1860, to the “Platte" route, and buying Hockaday's line. It was this company that inaugurated the famous Pony Express, whose history has been already rendered.

That remarkable achievement demonstrated the feasibility of the "Central" route, and accordingly the Overland Mail was transferred to it, in the summer of 1861, the "Overland Mail Co." buying Chorpening's interest on the west. The Central Overland California and Pike's Peak Express Co. and the Pony Express were later, in 1861, absorbed by the "Overland Stage Line," Ben Holladay, proprietor, but the western half remained in the hands of the original projectors of the Overland Mail Co., and was successfully managed by Messrs. Fred Cook, Jacob Gooding and H. S. Rumfield, General Managers and Superintendents. In 1866, Holladay obtained from the Colorada Legislature a charter for the "Holladay Overland Mail and Express Company," and the same year there 'was a grand consolidation of all the interests, namely, Wells Fargo & Co., the Overland Mail Company, the Pioneer Stage Company, and the Holladay Overland Mail and Express Company, under the Holladay charter, with a capital of $10,000,000, adopting the name of WELLS, FARGO & COMPANY, the change of name being ratified by a special Act of the Legislature of Colorado. Louis McLane was chosen President of the new

organization, with headquarters in New York. Charles E. McLane, previously Superintendent of the Pioneer Stage Company, was appointed General Agent for the Pacific Coast, with headquarters in San Francisco, and he, in turn, appointed John J. Valentine Superintendent of Express. Wells, Fargo & Co. now controlled all the important Stage Lines between the Missouri River and the Pacific Ocean, and transported the Express and Mails, at one time receiving more than $1,000,000 annually from the Government for performing mail service; but the contracts, even with so large a compensation, did not prove profitable. In 1868 A. H. Barney succeeded Mr. McLane as President of the company, and his administration was marked by sagacity, energy and success. Shortly after, John J. Valentine was appointed General Superintendent, with headquarters in New York; subsequently changed to San Francisco.

Upon the completion of the Union and Central Pacific Railroads the officers of the company decided to revert back to the original intentions of its founders, and accordingly all the stage interests were disposed of, and since then operations have been confined to Express and Banking. In the early part of 1869, Lloyd Tevis, Henry D. Bacon, D. O. Mills and other capitalists of California, organized the Pacific Express, and contracted with the Central Pacific Railroad for privileges -virtually exclusive-for a term of ten years, and preparatory steps were at once taken to occupy this main artery of communication. A meeting, at Omaha, of the rival interests was, however, brought about-Wm. G. Fargo and A. H. Barney representing Wells, Fargo & Co., and D. O. Mills, Lloyd Tevis and Henry D. Bacon representing the Pacific Express, and negotiations resulted in merging the new and old elements by increasing the capital stock of Wells, Fargo & Co. to $15,000,000, and conveying one-third of it to the Pacific Express, as the condition of its retirement. Subsequently the capital stock of the company was reduced to $5,000,000. Messrs. Valentine and Chas. E. McLane gave the weight of their influence towards effecting the compromise and general pacification already referred to, and, no doubt, contributed largely to the result.

LLOYD TEVIS, PRESIDENT.-In 1870, Lloyd Tevis, of San Francisco, succeeded A. H. Barney as President of the company, a position he has since held by common consent, his administration of affairs being eminently successful and satisfactory. At this time the general officers of the company were removed to San Francisco, where they have since remained. The management of the company throughout has practically undergone no change for ten years. In Tevis's hands the prosperity of the company is well assured, and a confidence has been established which pervades all classes of the community. By the consolidation of 1869 all rival interests were harmonized, and Wells, Fargo & Company, being freed from all opposition, has since held undisputed sway over the territory comprehended in the term "Pacific Coast."

The company has agencies in New York, Boston, London, Paris, etc., and transacts a prosperous business with England and the continent. The enterprise is one of the features of the Pacific Coast, and the business continues to be of a profitable character, of late years regular 4 per cent. dividends having been declared to stockholders every six months, or 8 per cent. per annum.

Although inaugurated, like all mundane institutions, for the purpose of making money, this company, by its uniform respect for the rights of individuals, has secured and maintains a hold on the good will of the people exceptional in the history of monopolies.

Probably no other Express Company has received the same unremitting attention from highwaymen and lawless desperadoes; but the promptness and fairness with which losses caused by their depredations are adjusted, has inspired the public with a confidence in its responsibility and integrity that could not easily be shaken.

The company has further augmented its reputation with the people by the ready interest it has shown in cases of public calamity; and, notably, under its present management, it has identified itself with the several great relief movements of recent years, which will constitute a luminous page in the nation's history. Thus, it employed, under the personal supervision of its officers, its extended facilities for collecting and