TELEGRAPH DESPATCH. FAST FREIGHT LINE VIA ERIE RAILWAY, FROM NEW YORK . WEST, SOUTHWEST, AND NORTHWEST . REGULAR RAILROAD RATES . FAST TRAIN .

Merchants' Union Express Company, Proprietors.

Publication Date: 1867
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Large 4to. 13" x 8 1/2" 4 pages. Rates of Freight in Cents per 100 lbs. Also by STEAM ON LAKE ERIE with list of agents and products covered for shipment. Late in 1866, a group of New York merchants established Merchants Union Express Co., to both get into the express business and destroy the three largest express lines--Adams, American, and United States. Merchants Union first hired away the older companies' experienced agents and then invaded their territories. American Express suffered such losses in 1867 that for the first and only time in its history it failed to pay a dividend. On December 21, 1868, the four express companies reached a peace agreement, dividing the express and fast-freight business and pooling and distributing net earnings. American Express got the worst of the deal; Merchants Union acquired rights on railways that had been its bread-and-butter lines (the Hudson River and New York Central railroads) and lost its supremacy in the express business. In 1868, American Express was forced to merge with Merchants Union to form the American Merchants Union Express Company (shortened in 1873 back to the American Express Company). Also in 1868 Wells retired and was replaced as president by William G. Fargo. Bookseller Inventory #

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Title: TELEGRAPH DESPATCH. FAST FREIGHT LINE VIA ...
Publication Date: 1867
Book Condition: --/No Dustjacket

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Merchants' Union Express Company, Proprietors.
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Book Description 1867. Book Condition: --/No Dustjacket. Large 4to. 13" x 8 1/2" 4 pages. Rates of Freight in Cents per 100 lbs. Also by STEAM ON LAKE ERIE with list of agents and products covered for shipment. Late in 1866, a group of New York merchants established Merchants Union Express Co., to both get into the express business and destroy the three largest express lines--Adams, American, and United States. Merchants Union first hired away the older companies' experienced agents and then invaded their territories. American Express suffered such losses in 1867 that for the first and only time in its history it failed to pay a dividend. On December 21, 1868, the four express companies reached a peace agreement, dividing the express and fast-freight business and pooling and distributing net earnings. American Express got the worst of the deal; Merchants Union acquired rights on railways that had been its bread-and-butter lines (the Hudson River and New York Central railroads) and lost its supremacy in the express business. In 1868, American Express was forced to merge with Merchants Union to form the American Merchants Union Express Company (shortened in 1873 back to the American Express Company). Also in 1868 Wells retired and was replaced as president by William G. Fargo. Bookseller Inventory # BOOKS288104

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