Merchants Union Express Co. signed by William H. Seward Jr. - 1867 dated Autographed Stock Certificate

Stock printed by Hatch & Co., New York with 25 cents revenue stamp. Signed by William H. Seward as president.

Established in 1866, the Merchants Union Express Company emerged as a formidable competitor to the well-established American Express Company. Upon its formation, the Merchants Union Express Company initiated a vigorous and aggressive rate war, substantially reducing American Express’s prices to secure market share. This intense two-year struggle for dominance in the express transportation industry drove both companies to the precipice of financial ruin, as they invested heavily in attempting to eliminate the other from the market.

Facing mutual collapse, the exhausted rivals mutually agreed to merge on November 25, 1868, forming a consolidated entity initially designated as the American Merchants Union Express Company. William Fargo oversaw the combined operation. Following the merger’s completion and the industry’s stabilization, the company was renamed the American Express Company in 1873. The brief existence and subsequent merger of the Merchants Union Express Company were pivotal moments in American business history. They directly contributed to the establishment and enduring success of the contemporary American Express brand, which transitioned from primarily a package carrier to the global financial services powerhouse it is today.

William Henry Seward, Jr. (1839-1920), was born in Auburn, New York, the son of United States Secretary of State William Henry Seward, Sr. and Frances Adeline Seward; and younger brother of United States Assistant Secretary of State Frederick William Seward. Educated at home, Seward became interested in finance and later started a partnership with Clinton McDougall and opened a private bank in Auburn, New York in 1861. He left banking in 1862 to command New York's 9th Heavy Artillery in the U.S. Civil War, which joined the Army of the Potomac in 1864 and was present at Appomattox Court House. After being wounded in battle, he eventually rose to the brevet rank of Brigadier General. He was thereafter known within his family as "The General". Retiring from the army at the close of the war, he returned to Auburn and the banking profession and also served as secretary and director of the American Express Company. He lived with his wife, Janet MacNeil Watson Seward, in the family homestead in Auburn, New York. He had three children: Cornelia Margaret Seward Allen, William Henry Seward III, and Frances Janet Seward Messanger. He was targeted as a victim of the Lincoln assination conspiracy but was spared. He died at the age of 80. Today, he is buried in Fort Hill Cemetery in Auburn, New York next to his father William H. Seward, Sr.

Read More

Read Less