The express delivery network established by Henry Wells successfully challenged the United States Post Office by operating at rates lower than government-mandated prices. This competitive pressure eventually forced postal authorities to reduce service costs in 1845 and 1851, fundamentally altering how mail and freight were distributed throughout the expanding American frontier during the mid-nineteenth century.
Early Career and Expansion
Born in 1805 in Thetford, Vermont, Wells began his professional life as a farm hand and apprentice to a tannery in Palmyra, New York. In 1836, he moved into the freight business on the Erie Canal. By 1841, he partnered with George E. Pomeroy and Crawford Livingston to form Pomeroy & Company. This venture expanded significantly with the formation of Western Express in 1845, the first operation established west of Buffalo, serving cities such as Detroit, Chicago, and Cincinnati.
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Wells played a primary role in the creation of major corporate entities in the United States. In 1850, he merged several express firms to create the American Express Company, serving as its president until 1868. When colleagues resisted expanding into California, he founded Wells, Fargo & Company on March 18, 1852, to capture the growing western market. He later served as president of the New Granada Canal & Steam Navigation Company and the Cayuga Lake Railroad.
Educational and Personal Legacy
Outside of finance, Wells founded Wells College in Aurora, New York, in 1868 to provide higher education opportunities for women. He lived at his estate, Glen Park, which was designed by architect A.J. Davis. After his death in Glasgow, Scotland, on December 10, 1878, his remains were transported back to the United States on the steam-ship Ethiopia. He is buried at the Oak Glen Cemetery in Aurora.
Fast facts
- Born: 1805, Thetford, Vermont
- Died: 10 December 1878, Glasgow, Scotland
- Buried: Oak Glen Cemetery, Aurora, New York
- American Express President: 1850–1868
- Wells Fargo Founded: 18 March 1852
- Wells College Founder: 1868
- Citizenship: United States
Questions readers ask
What companies did Henry Wells establish?
He was a primary founder of the American Express Company and Wells, Fargo & Company.
Where did Henry Wells receive his education?
He attended school in Fayette, New York, as a child before beginning his apprenticeship in 1822.
