Ashbel H. Barney

Ashbel Holmes Barney
Born	Template:Birth date Adams, New York, U.S.
Died	December 27, 1886(1886-12-27) (aged 70) New York City, U.S.
Occupation(s)	Banker, express company executive
Years active	1842–1883
Known for	President of Wells Fargo & Company (1869–1870)

Ashbel Holmes Barney (September 2, 1816 – December 27, 1886) was a prominent American banker and express company executive who held the presidency of Wells Fargo & Company between 1869 and 1870.

Early life

Barney was born in Adams, New York as the younger son of John and Sarah Barney. After receiving his education at Belleville Academy, he relocated to Cleveland, Ohio in 1842 alongside his brother Danford. There, they managed forwarding and commission merchant operations under the firm Danford N. Barney & Company.

Career

When Danford moved to Buffalo, New York in 1849, Barney remained in Cleveland. He took over as president of Wells Fargo in 1853 following the departure of Edwin Barber Morgan, who resigned to serve in the U.S. House of Representatives. Barney remained in this role until 1866. In 1857, he established himself in New York City.

On November 17, 1859, Barney was appointed as a Wells Fargo director. Additionally, he served on the board of the New York Elevated Railroad, an enterprise initiated by his brother and overseen by Cyrus West Field. His executive roles extended to presidencies at Wells Fargo, the United States Express Company, and the Northern Pacific Railroad. From early 1867 until 1869, Barney acted as vice president of Wells Fargo before succeeding Louis McLane as president.

During Barney’s leadership, control of Wells Fargo shifted to Lloyd Tevis. Barney stepped down from the presidency in 1870, with William Fargo succeeding him; Tevis assumed leadership two years later in 1872.

Later life

Following the resignation of Frederick Billings as president of the Northern Pacific Railroad on June 9, 1881, Barney briefly served as interim president from June 19 until September 15. Afterwards, stockholders elected Henry Villard as president, while Barney joined the company’s board of directors. He largely withdrew from active business pursuits after 1881 and departed from Wells Fargo’s board in 1883, succeeded by Colonel Charles Frederick Crocker.

Personal life

In Cleveland during 1846, Barney married Susan Hester Tracy (1818–1882), daughter of Gardiner Tracy—an abolitionist and publisher of the Lansingburgh Gazette. Their children were:

• Gardiner Tracy Barney (1849–1856), who passed away in childhood.
• Charles Tracy Barney (1851–1907), who wed Lucy Collins "Lily" Whitney, sister to former Secretary of the Navy William Collins Whitney.
• Helen Tracy Barney (1853–1897), who died unmarried in New York City.

Barney died at his residence located at 101 East 38th Street in New York City on December 27, 1886. His funeral took place at home and was officiated by Rev. Dr. Charles H. Parkhurst of Madison Square Presbyterian Church. Among the pallbearers were distinguished individuals such as Thomas Collier Platt, James C. Fargo (president of American Express), along with family members. The service was attended by notable financiers and businessmen including Morris K. Jesup and Darius Ogden Mills. He was laid to rest at Woodlawn Cemetery.