Heading: (Wells Fargo Bank)
Author:
Title: Articles of Incorporation of Wells Fargo Bank & Union Trust Co. Dated, December 13, 1923
Place Published: San Francisco
Publisher:
Date Published: 1923
Description:

72, [1] pp. 24.5x17.5 cm (9¾x6¾"), printed wrappers.

Articles of Incorporation of one of the leading United States banks, promulgated at the beginning of the boom of the 1920s, fortuitously ensuring the stability and resources to see it through the Great Depression that struck five years later. The document lists the shareholders of the bank, the number of shares held by each and the value, plans for mergers with other banks coinciding with, and other details. A rare document with information not readily available elsewhere. No copies are listed in OCLC.

This was the third merger in the 20th century for Wells Fargo, preceded by mergers in 1905 and 1918.

Among the shareholders and directors listed are J. L. Flood, J.D. Spreckels, F. L. Lipman, Wm. F. Herrin, C.W. Haas, C. Deering, W.E.Creed, etc. The amount of the capital stock of the bank was $9,000,000 ncluding $ 6,600,000, which has been actually subscribed.

Among the largest shareholders were children (they owned 6618 shares worth $661,800) of legendary banker and philanthropist Isaias W. Hellman, one of the founders of USC. In 1905 he oversaw the merger of Nevada National Bank with Wells Fargo & Co. to form Wells Fargo Nevada National Bank and would serve as president of the bank until his death in 1920. At the height of his power, Hellman served as president or director of 17 banks along the Pacific Coast and controlled $100 million in capital.

A bit of finger soiling to wrappers, faint stain to rear, light bumps to corners; very good.