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1962 American Express Company

 

 

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Stock Code AMX01

 
Company American Express Company. History
Description Certificate no. 16459 for 40 shares of par value $5 each. Ornate red border with vignette of Roman soldier.
Issued To Julius A Greenhouse
Issue Date 16th August 1962
Company Officers
 - President Printed  signature
 - Secretary Printed  signature
Size 30cm wide x 21cm high

Framed Certificate Price : £85.00

Certificate Only Price : £45.00

Make someone an American Express shareholder with a unique gift

 

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  Price £85.00


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TO BUY THIS CERTIFICATE UNFRAMED :

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  Price £45.00


2. UK Shipping is included in the price. If you are ordering from outside the UK click on the relevant button below to include shipping to your country. Only one shipping charge is required for unframed certificates, regardless of the amount purchased. Note that if your order is over £100 no shipping charge is required, regardless of destination address.

U.S. / Canada Shipping (£5.00)

Europe Shipping (£3.75)

Rest Of World Shipping (£7.50)


3. At any time you can either view the contents of your shopping cart or check out by clicking below:

History
American Express was founded in 1850, in Buffalo, New York, as a joint stock corporation that was a merger of the express mail companies owned by Henry Wells (Wells & Company), William Fargo (Livingston, Fargo & Company), and John Butterfield (Butterfield, Wasson & Company), as an express business. American Express first established its headquarters in a building at the intersection of Jay Street and Hudson Street in the TriBeCa section of Manhattan, and enjoyed a virtual monopoly on the movement of express shipments (Goods, Securities, Currency, etc.) throughout New York State. In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings

American Express extended its reach nationwide by arranging affiliations with other express companies, (including Wells, Fargo – the replacement for the two former companies that merged to form American Express.) railroads, and steamship companies.

In 1882, American Express started its expansion in the area of financial services by launching a money order business to compete with the US Post Office's money orders.

Sometime between 1888 and 1890, J.C. Fargo took a trip to Europe and returned frustrated and infuriated. Despite the fact that he was president of American Express and that he carried with him traditional letters of credit, he found it difficult to obtain cash anywhere except in major cities. Mr. Fargo went to Marcellus Flemming Berry and asked him to create a better solution than the traditional letter of credit. Mr. Berry introduced the American Express Traveler's Cheque which was launched in 1891 in denominations of $10, $20, $50, and $100.

Traveler's cheques established American Express as a truly international company. In 1914, at the outbreak of the First World War, American Express offices in Europe were among the few companies to honor the letters of credit (issued by various banks) held by Americans in Europe, despite other financial institutions having refused to assist these stranded travellers.

American Express became one of the monopolies that President Theodore Roosevelt had the Interstate Commerce Commission investigate during his administration. The interest of the ICC was drawn to its strict control of the railroad express business. However, the solution did not come immediately to hand. The solution to this problem came as a coincidence to other problems during World War I.

During the winter of 1917, the US suffered a severe coal shortage and on December 26 President Woodrow Wilson commandeered the railroads on behalf of the US government to move US troops, their supplies, and coal. Treasury Secretary William Gibbs McAdoo was assigned the task of consolidating the railway lines for the war effort. All contracts between express companies and railroads were nullified and McAdoo proposed that all existing express companies be consolidated into a single company to serve the country's needs. This ended American Express's express business, and removed them from the ICC’s radar. The result was a new company called the American Railway Express Agency company formed in July 1918. The new entity took custody of all the pooled equipment and property of existing express companies (the largest share of which, 40%, came from American Express, who had owned the rights to the express business over 71,280 miles of railroad lines, and had 10,000 offices, with over 30,000 employees).

 

 

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