William Fargo

William George Fargo
William George Fargo
Born	Error: Invalid birth date for calculating age; Pompey, New York, U.S.
Died	3 August 1881 (aged 63)
Occupation(s)	Entrepreneur, politician
Known for	Co-founder of Wells Fargo and Company and American Express Company; Mayor of Buffalo, New York

William George Fargo (May 20, 1818 – August 3, 1881) was a prominent American entrepreneur and political figure, recognized for co-founding both Wells Fargo and Company—initially engaged in shipping, mail distribution, stagecoach operations, and banking—and the American Express Company.

Early life

Fargo was born on May 20, 1818, in Pompey, New York, as the firstborn among twelve siblings of William C. Fargo (1791–1878) and Stacy Chappel Strong (1799–1869). His brother, J. C. Fargo, later served as American Express president for three decades. At the age of 13, Fargo left formal education to deliver mail in Pompey to help support his family.

His father participated in the War of 1812, sustaining injuries at the Battle of Queenston Heights under General Stephen Van Rensselaer shortly before American troops secured the region. Additionally, Fargo’s grandfather, William Beebe Fargo (1757–1801), fought in the American Revolutionary War. The family lineage traces back to Moses Fargo (1691–1798), whose ancestors migrated from France to Wales before settling in Connecticut during the late 1600s.

Career

At thirteen years old, Fargo began working as a mail carrier in Pompey, New York. By 1838, he was employed by grocers Hough & Gilchrist in Syracuse, followed by positions with Roswell and Willett Hinman. After three years, he obtained a clerkship at Dunford & Co., a forwarding agency based in Syracuse. By 1841, he advanced to freight agent and express messenger roles between Albany and Buffalo for the Auburn and Syracuse Railroad located in Auburn. In 1843, Fargo assumed the position of Resident Agent in Buffalo before joining Livingston, Wells & Co. as a messenger.

American Express Company

On April 1, 1845, Fargo co-established Western Express alongside Henry Wells and Daniel Dunning. This enterprise operated routes from Buffalo extending to Cincinnati, St. Louis, Chicago, and other destinations under the name Wells & Co. Since railroads had not yet extended west of Buffalo at that time, Fargo coordinated transportation using steamboats and wagons.

After Dunning’s departure in 1845 and Henry Wells’ sale of his interest in 1846 to William A. Livingston, Fargo formed a partnership with Livingston under Livingston, Fargo & Company. In 1850, three rival express companies—Wells & Company (led by Henry Wells), Livingston, Fargo & Company, and Wells, Butterfield & Company—consolidated to create the American Express Company, with Wells appointed President and Fargo serving as Secretary.

Following Henry Wells’ resignation in 1866 and American Express’ merger with Merchants Union Express Company, Fargo ascended to the presidency. He maintained leadership until his passing in 1881, after which his brother J. C. Fargo succeeded him as president until 1914.

Wells Fargo & Company

In 1852, Henry Wells and William Fargo launched Wells Fargo & Co. after objections arose from John Warren Butterfield and other directors at American Express regarding expansion into California markets. The company provided express services connecting New York with San Francisco via the Isthmus of Panama and along the Pacific coast. Its offerings included banking operations such as gold purchasing and issuing paper bank drafts coupled with expedited delivery of valuables. Wells Fargo rapidly extended its presence across Western urban centers and mining camps.

In 1861, Wells Fargo took over and restructured the Overland Mail Co., originally founded in 1857 to transport U.S. mail; Fargo was among its initial promoters.

Other

Fargo held executive positions including director and vice-president of the New York Central Railroad Company, as well as serving as a director and shareholder in the Northern Pacific Railway. Additionally, he was a director of the Buffalo, New York and Philadelphia Railroad Company. His investments extended to the Buffalo Coal Company and the McKean and Buffalo Railroad Company, alongside involvement in multiple manufacturing ventures based in Buffalo.

Political career

Fargo was elected mayor of Buffalo in 1861 and completed two consecutive terms from 1862 through 1866. A devoted Democrat who opposed secession, he actively supported the Union cause during the Civil War by subsidizing a portion of wages for employees subject to the draft. His administration also dealt with significant events such as the Buffalo riot of 1862.

Personal life

In 1840, Fargo wed Anna H. Williams (1820–1890), and together they had eight children, though several passed away during childhood. Among his children, daughter Helen Lacy Fargo married the diplomat Herbert G. Squiers.

Between 1868 and 1872, Fargo commissioned construction of the Fargo Mansion on Buffalo’s west side at a cost of $600,000 (equivalent to multiple millions today). The residence occupied two city blocks and featured a five-story central tower. At that time, it was the largest mansion in Buffalo, boasting wood sourced from every state, an elevator, and gold-plated doorknobs.

Fargo passed away on August 3, 1881, following an extended illness. His funeral took place on August 7, and he was laid to rest at Forest Lawn Cemetery. At his passing, only two of his children survived him. His brother, J. C. Fargo, succeeded him as President of American Express.

Legacy

Anna Fargo died in 1890. With their two surviving offspring residing elsewhere, the Fargo Mansion remained unoccupied for a decade. Due to its high upkeep costs and lack of buyers, the mansion was torn down in 1901, with the property subsequently subdivided into residential plots. The mansion had stood for merely three decades.

Several landmarks bear Fargo's name, including Fargo Avenue in Buffalo, the Fargo Quadrangle at the University at Buffalo, and the city of Fargo, North Dakota.

The Fargo Estate Historic District earned a place on the National Register of Historic Places in 2016.

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