On this day, March 18th 1852, Wells and Fargo meet in New York to discuss with investors to start their company, Wells Fargo. Wells Fargo began in New York but it did not start as a bank. Originally, it was a shipping company. In these times, shipping companies were making lots of money all around the U.S. and Wells and Fargo could not miss the chance to capitalize on this huge opportunity. They began offering some of the best shipping prices for items such as gold dust and their company quickly gained success across the country. The company operated for many years as a simple transportation company for both cargo and people able to be transported across the country. In 1905 the company moved away from the shipping line aspect and got into banking. The company still mainly does this even today as it has become one of the most well known banks in the country.
This event affected people of the time because it gave them a reliable transport company, and later a banking company, all for a fair price. This company quickly rose in popularity and became a nationwide household name. Not just for transportation but for banking later as well.
This event is relative today because the company itself still exists as a bank and is one of the most well known ones at that. Yup there we go
