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Stagecoach: Wells Fargo and the American West
 
 
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Stagecoach: Wells Fargo and the American West [Hardcover]

Philip L. Fradkin (Author), J. S. Holliday (Foreword)
3.0 out of 5 stars  See all reviews (6 customer reviews)


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Book Description

January 8, 2002
Sweeping in scope, as revealing of an era as it is of a company, "Stagecoach" is the epic story of Wells Fargo and the American West, by award-winning writer Philip L. Fradkin.

The trail of Wells Fargo runs through nearly every imaginable landscape and icon of frontier folklore: the California Gold Rush, the Pony Express, the transcontinental railroad, the Civil and Indian Wars. From the Great Plains to the Rockies to the Pacific Ocean, the company's operations embraced almost all social, cultural, and economic activities west of the Mississippi, following one of the greatest migrations in American history.

Fortune seekers arriving in California after the discovery of gold in 1849 couldn't bring the necessities of home with them. So Wells Fargo express offices began providing basic services such as the exchange of gold dust for coin, short-term deposits and loans, and reliable delivery and receipt of letters, money, and goods to and from distant places. As its reputation for speed and dependability grew, the sight of a red-and-yellow Wells Fargo stagecoach racing across the prairie came to symbolize not only safe passage but faith in a nation's progress. In fact, for a time Wells Fargo was the most powerful and widespread institution in the American West, even surpassing the presence of the federal government.

"Stagecoach" is a fascinating and rare combination of Western and business history. Along with its colorful association with the frontier -- Wyatt Earp, Black Bart, Buffalo Bill -- readers will discover that swiftness, security, and connectivity have been constants in Wells Fargo's history, and that these themes remain just as important today, 150 years later.


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Editorial Reviews

Amazon.com Review

Today, most of us know the iconic red and yellow image of the Wells Fargo stagecoach only as the omnipresent logo of a huge national financial institution. Philip L. Fradkin's Stagecoach reminds us of the far more complex and colorful history of the 150-year-old enterprise it symbolizes, beginning with its heyday as an unpolished but honorable "express company" that dependably linked, by means of the stagecoach, an upstart West Coast and roughshod Rockies with everything else back East. Fradkin, author of eight books on the American West, ties the company's and region's fates together as mining, agriculture, and then more contemporary commercial interests (with help from the federal government) indelibly shaped them both. From the time of the dusty stage driver to the era of the wing-tipped banker, the book recounts it all but wisely focuses on the period from 1852 to 1918, a time when the firm "served as the principal communications conduit between East and West ... contributed to the Union victory in the Civil War ... and shipped fresh vegetables and fruits via fast refrigerated express." After reading it, you'll be hard-pressed to look at the enduring stagecoach imagery in quite the same way ever again. --Howard Rothman

From Publishers Weekly

Fradkin, who has written eight books about the American West, offers a swashbuckling account of Wells Fargo's early mail and express delivery service. In the 1850s, executives hit upon a scheme to get around laws to protect the U.S. Postal Service monopoly. Wells Fargo bought stamped post office envelopes and double-stamped them with the company fee. Customers paid two to three times the government rate to ensure the mail's swift and certain delivery out west, where the Postal Service had a dismal performance record. Armed guards protected the cargo on Wells Fargo's express service, which shipped valuable post via stagecoach. The cargo, mostly precious metals from Western mines, was the bedrock of the company's first "deposits," giving the young institution an instant asset base. Given Wells Fargo's enterprising image today, it is surprising to learn how many times the company stumbled when new technology loomed. Executives ordered 30 pricey new stagecoaches just before the transcontinental railroad was completed in 1869. They scoffed when government trustbusters threatened to launch a parcel post in 1913. In his final chapter, Fradkin skims over Wells Fargo's breathtaking rise from a single San Francisco outpost in 1918 to a vast financial services institution. He does present a convincing argument that in this age of instantly manufactured brands, Wells Fargo earned its marketing image of rugged pioneerism the hard way through 150 years of struggle and corporate survival. (Feb. 1)Forecast: Those interested in western lore or corporate branding will enjoy this intriguing tale of how one corporation adapted to the pioneer days of the Old West. Readers seeking a detailed financial history of Wells Fargo the bank will be disappointed.

Copyright 2002 Cahners Business Information, Inc.


Product Details

  • Hardcover: 272 pages
  • Publisher: Free Press; 1st edition (January 8, 2002)
  • Language: English
  • ISBN-10: 0743213602
  • ISBN-13: 978-0743213608
  • Product Dimensions: 9.6 x 6.3 x 1 inches
  • Shipping Weight: 1.2 pounds
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Best Sellers Rank: #2,374,021 in Books (See Top 100 in Books)

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Customer Reviews

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Average Customer Review
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6 of 6 people found the following review helpful:
5.0 out of 5 stars Excellent history of Wells Fargo, November 1, 2006
By 
Bomojaz (South Central PA, USA) - See all my reviews
Wells, Fargo and Co., the freighting and banking company, got its start in 1852 at the height of the Gold Rush period in California. It bought out a number of smaller stagecoach lines running between towns and mining camps in the gold fields and eventually established a monopoly in the business in the area. To finance its business ends, the company also started a banking business, with profits being obtained from the gold dust being shipped from the gold fields on its stagecoaches. Packages, gold, mail, and finally passengers were soon being hauled throughout central California and points east by Wells Fargo stages. The company was also very involved with the Overland Mail Company, operating all its express services west of Salt Lake, and even administered to the fabled Pony Express along its route across the central plains for a few years before its demise. With the coming of the transcontinental railroad in 1869, Wells Fargo was able to expand its express business while the stagecoach operations disappeared.

Philip Fradkin tells the story of the Wells Fargo company superbly and with careful attention to historical accuracy. He relates many stories of stagecoach holdups, of what it was like traveling by stage in the West, and what the stage stations were like - all told with flair and excitement. And the business operations of the company, especially after the merger with the American Express Company and into the twentieth century, are explained fully without becoming deadly dull. Fradkin's scholarship is praiseworthy in his use of original source material, especially company records and the files of the Wells Fargo Historical Services department. It's an enjoyable book and is the definitive book on the company today.
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1 of 1 people found the following review helpful:
5.0 out of 5 stars Great Historical book, January 11, 2007
Great history on not only Wells Fargo but the early growing west. Very well written.
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1.0 out of 5 stars Wells Fargo Envy, January 6, 2012
Philip Fradkin wrote a book on California (The Seven States of California) that I really liked, and, as is my custom when I run across a writer I enjoy, I read my way through most of their catalogue. And so Stagecoach is the second book by this writer that I've read.

Stagecoach is a look at the 150 year history of Wells Fargo (the bank and the once upon a time shipper and transportation provider). This book came out eight years before the bank bailouts. Wells Fargo was one of the banks that took money in 2008/2009. They received, at least, 25 billion dollars.

Fradkin is quite friendly towards the company. In fact, it reads much like Wells Fargo commissioned the thing. Yes, there is some interesting history here; especially the parts about what it was like to travel the US by stagecoach in the 1860's. And yes, Wells Fargo did transform nutrition in the United States by figuring out how to ship fruits and vegetables in a refrigerated rail car (they used ice) thus improving the lives of millions of Americans.

But I was surprised at just how fawning Fradkin could be towards this company. I expected to read something that was a bit more critical, a bit more daring, a bit more biting. But Fradkin seems to be in love with Wells Fargo. It is almost as shocking as when Chris Hitchens fell in love with George W. Bush. You don't expect this sort of ass kissing of power from decent writers. Both Hitchens and Fradkin surprised me.

As such, this book could very easily grace the bookshelf in the CEO's office of Wells Fargo. I expected something more from Fradkin. Oh well, I'll give him another chance to redeem himself. Maybe Fradkin needed some quick cash and writing a laudatory history of a bank filled the coffers in time for Christmas. We all have our price.

And so, I will forgive Fradkin and give him another go.
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Inside This Book (learn more)
First Sentence:
IMAGINE A business that combines the communications aspects of letter mail, e-mail, faxes, and the telephone; the transportation of heavier goods by parcel post and express mail, such private carriers as United Parcel Service and Federal Express, and an armored car service; and the plethora of financial arrangements supplied by modern intrastate, interstate, and international full-service banks. Read the first page
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Wells Fargo, San Francisco, New York, American Express, Southern Pacific, Salt Lake City, Los Angeles, Civil War, United States, Gold Rush, Virginia City, Wyatt Earp, Big Four, Southern California, Union Pacific, Overland Mail Company, West Coast, Central Pacific, Courtesy Minnesota Historical Society, Henry Wells, Nevada Bank, Sierra Nevada, Comstock Lode, Bob Paul, Mason City
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