William George Fargo (May 20, 1818 – August 3, 1881) was an American businessman and politician who founded Wells Fargo and Company, originally shipping, mail delivery, a stagecoach line, and banking, now Wells Fargo banking corporation, and American Express company.
Early life
William George Fargo was born in Pompey in Onondaga County, New York, on May 20, 1818. He was the eldest of twelve children of William C. Fargo (1791–1878) and Stacy Chappel Strong (1799–1869). His younger brother was James Congdell Strong Fargo (1829–1915), president of the American Express Company for 30 years. William's education consisted only of the rudiments taught in a country school as he left school at the age of 13 to carry the mail in Pompey and help support his family.
His grandfather, William Beebe Fargo (1757–1801), served with distinction in the American Revolutionary War, and the grandson of Moses Fargo (1648–1742), who was born in Lyon, France. His father Jacent "Jason" Fargeau, had emigrated with his wife and children to Wales, from where Moses and his elder brother Aaron went to Norfolk, Connecticut, in 1670.
Career
At the age of 13, Fargo left school and started carrying mail for his native village of Pompey, New York. In the winter of 1838, Fargo started working with Hough & Gilchrist, grocers, from Syracuse. He remained there for a year until he went to work with the grocers Roswell and Willett Hinman. After three years, Fargo obtained a clerkship in the forwarding house of Dunford & Co., Syracuse. In 1841, he became a freight agent, an express messenger between Albany and Buffalo, for the Auburn and Syracuse Railroad in Auburn. A year later in 1843, Fargo was a Resident Agent in Buffalo, New York. He left the Auburn and Syracuse Railroad and joined Livingston, Wells & Co., as messenger. were consolidated and became the American Express Company, with Wells as President and Fargo as Secretary.
In 1866, upon the resignation of Henry Wells and American Express' merger with the Merchants Union Express Company, Fargo was elected President of the American Express Company. He was the company's president until he died in 1881, at which point his brother, J. C. Fargo, assumed the presidency, holding the post until 1914. The company opened for business in the gold rush city of San Francisco, and soon the company's agents opened offices in the other new cities and mining camps in the West.
Personal life
thumb|William G. Fargo Mansion in [[Buffalo, New York]]In January 1840, Fargo married Anna H. Williams (1820–1890), daughter of Nathan Williams, one of the proprietors of Pompey, with whom he had eight children:
- Hannah Sophia Fargo (1847–1851), who died young
- Mary Louise Fargo (1851–1852), who died young
- Helen Lacy Fargo (1857–1886), who married Herbert G. Squiers (1859–1911), a diplomat who served as Minister to Cuba (1902–1905) and Panama (1906–1909)
- Edwin Morgan Fargo (1861–1865), who died young
thumb|William G. Fargo Mansion as it appeared in 1900 before it was demolished
In 1868, when he was 50, Fargo bought on the Buffalo's west side; and between 1868 and 1872, he built the Fargo Mansion at Jersey and Fargo Streets, which was Buffalo's largest mansion. The home was completed in 1872 at a cost of $600,000 (). Another $100,000 () was spent to furnish and decorate the mansion. Michael Rizzo, a Buffalo historian, wrote:
He died on August 3, 1881, after battling an illness for several months. After his funeral on August 7, 1881, he was buried at Forest Lawn Cemetery. At the time of his death, only two of his children were living, Georgia and Helen Fargo. William's brother, J. C. Fargo, succeeded him as President of American Express after his death.
Legacy
Fargo's wife, Anna, died in 1890. With their two surviving children living elsewhere, the Fargo Mansion stood vacant for 10 years. It was deemed too expensive to maintain and, with no buyer, the mansion was demolished and the block was divided into residential lots in 1901. The mansion and estate grounds were only 30 years old. and Fargo, North Dakota, are named after him.
The Fargo Estate Historic District was listed on the National Register of Historic Places in 2016.
See also
- American Express
- Wells Fargo
- J. C. Fargo
- Henry Wells
- John Warren Butterfield