Holidays

Happy Father’s Day!

Posted by
Sharon Robinson
June 14, 2013Sharon Robinson

George H. CrockettGeorge Crockett took seriously his role as Wells Fargo Agent. Austin, Nevada was  a supply, transport and communications center for a large mining region. Crockett became Wells Fargo’s express and stage agent in 1864, and continued the work for two more decades.

He also took his role as father seriously. His daughter Olivia took over as agent after his death in 1889. She managed the Wells Fargo office in Austin until 1894.

My own father also takes his role as father very seriously. Dad is the most even-keel person I know. He’s rational and slow to anger, but he has a “look:” You know, the one that says, “if you continue doing what you’re doing it will be the last thing you do for a very long time.” Dad taught us about responsibility in all areas of our life, morally and ethically, financially, spiritually—even how and when to have fun. My Dad was not Andy Griffith. He isn’t overly sensitive or underly sensitive. But my Dad was awesome growing up (except when I was being punished—not so great then) and he’s getting better with age—mine and his.

Now that we’re older and he is free of parenting duties, I have discovered that he is hilarious! He has a subtle, cerebral cynicism that isn’t flashy, but it is amazing. Nothing about my father is flashy. We don’t say “I Love You,” but I know that he does because of the life we have shared and the memories I have.

I love my Dad. He definitely deserves a day.

Sharon's Dad

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Miscellaneous

Milestone meeting

Posted by
Aubrey
June 10, 2013Aubrey

June 10, 1969 marked a milestone event in Wells Fargo history: The first stockholder meeting of modern-day Wells Fargo & Company, the newly-formed holding company for Wells Fargo Bank, its affiliates and subsidiaries.  The new organizational structure made it possible for the company to offer customers a wider variety of financial services, allowing Wells Fargo to develop into the diversified powerhouse it is today.

Below are just a few examples of the extended family of companies that came into being in the first few years after Wells Fargo’s holding company was formed.

Wells Fargo Ag Credit logo

Wells Fargo Ag Credit ad

Wells Fargo Credit Corp. logo

Wells Fargo Car Lease sign

Wells Fargo Mortgage Co. pin

Wells Fargo Mortgage Co. brochure

Wells Fargo Ltd. ad

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Perspective

Summer freedom

Posted by
Ryan Baum
May 29, 2013Ryan Baum

Wells Fargo traveler's checkMemorial Day is the start, for many people, of the summer season. Schools let out soon, we gear up for the summer, and start making plans for summer travel.  One of the rituals I remember, when preparing for a trip as a kid, is less common today then it was in the past—buying traveler’s checks.  Whether we were traveling across the country or overseas, we weren’t certain where we would be able to access cash, or whether hotels and restaurants would accept credit cards.  So instead of starting the trip with all projected expenses in cash, we bought travelers checks.

As some of you know, when a traveler’s check is purchased, the buyer immediately signs one signature line.  Upon using the check, the buyer endorses a second line for signature confirmation and makes the check payable to a person, a business, or “cash.”  Checks cannot be redeemed without the two signatures;  if lost or stolen, the issuing firm will replace traveler’s checks with proof of purchase.

Wells Fargo 1907 circular re: traveler's checksI recently purchased a Wells Fargo travelers check , printed in 1906.  A Company circular of that time described changes in checks’ watermark, size, and other security features.  Although printed in Pittsburgh, Penn., it pays tribute to Wells Fargo’s frontier roots with a gorgeous engraving of a Native American with full Sioux war bonnet.

Another amazing aspect of this check is its stated conversion rates to other currencies.  Since this document originates in a time when nearly all nations had fixed exchange rates, and currencies were back by either gold or silver (note how this states “in U.S. gold” beneath the Ten Dollars), the conversion rates were known.  Going to one of the countries using the Franc such as France or Switzerland?  51.25 Francs.  Going to the Scandinavian countries using the Kroner?  36.70 Kroner.  This product not only assured its users of safety from theft, but also its value in a foreign land.

Wells Fargo traveler's check, ca. 1915

My son, however, will likely not experience this same summer ritual.  Now when we travel, we have the convenience of using cash dispensers coast to coast regardless of time of day or size of town.  We also can go overseas with confidence—even small inns accept credit or debit cards.  Where credit and debit aren’t accepted, the town bank or post office will have a cash machine that allows us to access to cash. 

I love the beauty and history of this document, but I appreciate the advantage that today’s Wells Fargo traveler’s products offer—convenience, choice, and freedom.  Debit and credit cards are much easier, for me, than their predecessors of a century ago. I think it adds to my summer freedom.

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Asian Pacific American Heritage

My father’s story

Posted by
Charles Riggs
May 24, 2013Charles Riggs

Immanuel MasinsinGuided by History is happy to welcome Immanuel Masinsin, the Lord of all tech for Social Media at Wells Fargo. (There’s no GBH without him.) Immanuel shares his heritage story for Asian Pacific Islander Heritage Month, a story with double importance as we begin the Memorial Day weekend. (CR)

I looked at a series on this blog that detailed Wells Fargo’s presence in the Philippines in the start of the 1900’s that greatly resonated to me being a second-generation Filipino-American. It inspired me seeing how times have progressed, and to reflect on my roots during Asian Pacific American Heritage, with Memorial Day just around the corner.

After World War II, the Philippines was still transitioning into its very own country, after getting independence from over 300 years of Spanish rule and as a US colony in the first half of the twentieth-century. My father was born and raised as a farmer in the outskirts of beautiful Rizal,  just within the outskirts of Metro Manila. However, the dictatorship of the infamous Ferdinand Marcos in the Philippines (who was internationally known for his wife’s shoe collection!) gave reason for my father and many of his peers to migrate away from the Philippines by enlisting in the US Navy, which the US allowed since naval bases and American installments were still active there.

Robe Masinsin ca. 1978It wasn’t an easy ride to a better life for him, however.  Being in the US Navy, my father was away doing tours during the Vietnam War and eventually the Gulf War. His parents and siblings were left behind in the Philippines living under martial law, and eventually in the midst of the famous “People Power Revolution” that toppled Marcos. I and my siblings were with our mom in the United States, trying to adapt to a country my mother had only heard about in school.

My father’s story, while unique to my family, actually explains the migration of 20,000 other Filipinos that came from the Philippines, and also outlines the sacrifices that the military personal and their families go through.

Discovering my roots as a Filipino-American is heavily attributed to my late father’s AMAZING outlook. While my Dad left his very country of origin only to serve in a country he believed in, he also paved the way for opportunity for my siblings and me—to be proud of this country, proud of our heritage and proud of the men and women who have served these very lands.

Aida and Robe Masinsin ca. 1978My father became a US citizen to fight for what he believed his family deserved. Today, as a proud American citizen working for the awesome Wells Fargo, I’m proud of the continued recognition the Company gives to military families and to the Asian Pacific community; not just here in the States, but also internationally through services offered between here and Asia. My father had to leave his homeland because of the then grim outlook under dictatorship, but it’s great to know democracy opened doors of opportunity in the Philippines.

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Remember

Wells Fargo cakes

Posted by
Anna Lucas Mayer
May 21, 2013Anna Lucas Mayer

My sister-in-law owns a small bakery and occasionally sends pictures of fun cakes she created at a customer’s request. Festivities in banking, as in any other work environment, often feature decorated cakes. The Wells Fargo Corporate Archives documents many things, and predecessor bank collections usually contain a few pictures of the flowers on opening day or everyone gathered around a cake.

While many are plain layer cakes, some are amazing creations that celebrate building openings and anniversaries.  Sheet cakes are the perfect shape to become a giant traveler’s check or ATM. These are not the outrageous creations seen on reality television, but humble cakes that document a happy moment for a community. A celebration is imminent, the joy is palpable, and even in black and white, the cake looks delicious.

United Bank of Denver, 1977

Wells Fargo Bank, 1965

Trenton Banking Company, 1954

Wellsco Data Corp., 1970

Copper State Bank, 1982

First National Bank of Oregon, 1960

First National Bank of Oregon,

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Asian Pacific American Heritage

For Japan with love

Posted by
Joycee Wong
May 14, 2013Joycee Wong

Supporting communities, and the spirit of volunteerism, are a big part of Wells Fargo’s Vision and Values.  Giving back to others takes many forms…since there are countless ways to make a difference in the world. 

News of calamities and disasters can make us feel discouraged, so I’d like to share a story which reminds us that positive things can happen, even when disaster strikes. At such moments, the goodwill of one person captures our attention (and our hearts), and can make a dramatic difference. When people talk, great things can happen: This story begins with a conversation between a man who works for Wells Fargo, and his wife.

Origami cranes and stagecoachIn Charlotte, North Carolina, Wells Fargo team member Satoshi Watanabe and his family had a heartfelt wish to show support for those impacted by the 2011 earthquake and tsunami in Japan.  Satoshi had an inspiration to fold 1,000 origami cranes and send them to victims of the disaster.  In Japan, Senbadsuru, (a group of 1,000 origami paper cranes held together by strings) is a popular gift.  An ancient Japanese legend promises that anyone who folds 1,000 origami cranes will be granted a wish, such as long life or recovery from illness or injury. Watanabe’s wife had a broader vision.  She suggested involving others to create many more origami cranes. Why not thousands?

Wells Fargo team members across the country joined the effort to fold the cranes. With step-by-step instruction, a person might be deemed a “genius” if they could fold one in five minutes; most people require much more time. Regardless, many people took up the challenge for this worthwhile cause.  Team members heard about the project and started telling others, who also pitched in.  From the initial 1,000 cranes Watanabe and his family wanted to make, many more conversations stretched the goal—fold 10,000 cranes. 

The momentum continued, as more people talked with colleagues, friends, and family. By the end of the campaign, 30,000 cranes were made. So many team members across the Company stepped up to assist.  In addition, Wells Fargo Foundations resopnded with $1 per crane, a $30,000 donation to the Red Cross. 

Before sending the cranes to Japan, the Wells Fargo History Museum in San Francisco hosted “For Japan With Love” in July 2011, a ceremony displaying the 30,000 cranes.  Watanabe shared photos and facts of the devastation from the disaster, and shared insights and testimonies on how the Japanese people pulled together to help one another in the aftermath. He then personally delivered some of the bundles of origami cranes, and volunteered with disaster recovery efforts while in Japan.  His description of the experience touches the heart:

Wtanabe at Red Cross event, July 2011“What I saw there was unimaginable. The damages were so significant and widespread…People still living in shelters where the smell is extremely bad as they cannot remove dead fish. It will take years before they will be able to recover from the disaster… When I delivered the two bundles of thousand cranes to the victims I did tell them that those cranes are filled with a lot of hearts and souls from the people in the U.S.”

Americans take time in May to honor and celebrate Asian Pacific Heritage.  Wells Fargo has a long history with the Asian community, including some fascinating connections with the Japanese since the Nineteenth Century.  (Find more about that here.) Today, Wells Fargo has over 270,000 team members across the U.S. and in 35 countries. (That’s a lot of hearts and souls!)

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Perspective

Conversations, and great things

Posted by
Charles Riggs
May 2, 2013Charles Riggs

When people talk, great things happen.

check from Wright Brothers to Wells Fargo 1911

In 1911, the Wright Brothers went between Kitty Hawk, North Carolina, and Dayton, Ohio. In Kitty Hawk, Orville was continuing their work in aviation; Wilbur stayed in Dayton to manage the business. While it’s not yet known what express services this particular check was for, the Wright Company did ship via Wells Fargo and Company Express.

airplane and stagecoach 1939
It’s exciting that in the early days of aviation in the United States, the Wright Brothers had conversations with Wells Fargo Express agents about how to keep their pioneering work moving along.  And of course, their work helped develop flight to the extent we know it today—it’s part of everyday life. Maybe even, part of everybody’s life.

When people talk, great things happen. Who knows… maybe it even gets a good idea “off the ground”!

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Women's History

Historical conversations

Posted by
Charles Riggs
May 2, 2013Charles Riggs

Printing Union ad, 1870

When people talk, great things happen.

Wells Fargo Bank superintendent James K. Latham helped small business owners get started. He co-signed, as Trustee, incorporation papers for the Women’s Co-operative Printing Union, formed in 1869 to employ female typesetters. The Union helped women to earn a living when denied work by male printers’ unions.

Several years later, Eleanor P. Gibbons set up her own design and engraving firm in San Francisco. A conversation with Wells Fargo led to her design on envelopes for Wells, Fargo & Co.’s famed Letter Express—including special ones for service to Hawaii, and a highly detailed design commemorating the 1892-3 Columbian Exposition.

It’s exciting that entrepreneurs had conversations with Wells Fargo Express agents, about how to get their businesses going. When people talk, great things happen. Who knows… maybe even a good idea “goes to press.”

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Asian Pacific American Heritage

Wells Fargo ExpressSend® service

Posted by
Charles Riggs
April 29, 2013Charles Riggs

international services ad, 1968The Wells Fargo ExpressSend® service is a trusted and affordable way to send money to family and friends in Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic, Colombia, Ecuador, Peru, Bolivia, Philippines, India, Vietnam, or China.  Convenient and reliable, ExpressSend® is online, at any Wells Fargo store location, or through the Wells Fargo Phone BankSM.  Recipients access the money by just picking up the cash or by having the funds deposited into an account at the receiving institution. (See details of service here.)

ExpressSend® is the present incarnation of services Wells Fargo has offered since the very beginning.  When Wells Fargo opened for business in 1852, there were correspondent offices in Europe and Canada, and in Panama as well.  The Company opened a subsidiary in Mexico in 1860.  Throughout the rest of the nineteenth century, Wells Fargo helped customers with “foreign remittances” to dozens of cities outside the United States.  Wells Fargo introduced Travelers Money Orders and Foreign Money Orders as the twentieth century opened, with gold standard conversion rates conveniently printed on the documents.

For years, money orders remained the chief instrument for moving money quickly around the world.  A Global Funds Transfer System was completed in 1984, that allowed customers to wire funds from around the world for same-day deposit.  InterCuenta Express was launched in 1995, a service for customers to securely send money to Mexico; India, the Philippines, El Salvador and Guatemala were soon added.

With the tewnty-first century, Wells Fargo’s international remittances became faster, more digital and more convenient. The several services that preceeded and pioneered ExpressSend® joined under that name in 2007.

There’s another international milestone to note, that demonstrates Wells Fargo’s committment to international convenience. In 1997, the Company installed it first ATM outside of the US. It was at the South Pole.

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Miscellaneous

Pin Money

Posted by
Ryan Baum
April 26, 2013Ryan Baum

old bank document with pinholesWhen collecting documents, the condition of an item has substantial impact on its value. Is the document free of creases and dirt?  Does the item have water stains, smudges, or missing corners?  One common description of older banknotes, even when in very fine condition, is “pinholes.”  How did a bill get pinholes? 

In earlier times, circulation was much more limited than it is today. A twenty dollar bill then would have the purchasing power of about $1000 of today’s dollars. Possessing a “20″ then would have been like having a $1000 bill in your wallet today—not a routine experience. Consequently, a twenty dollar bill was treated differently then.  Merchants would have currency, and treated the notes more like securities than as cash, as we would, and had greater control over the movement of the currency.  When payments were made, for instance, the cash was often attached directly to the invoice! In the nineteenth century, in the age before the paperclip, the most common way to fasten documents together was with a bank pin. 

Yes, a pin. 

Recently I came across an interesting set of correspondence between two banks. Anglo-California in San Francisco wrote to The State Bank & Trust of Carson City, Nevada, that it had successfully ordered $500 in quarters from the San Francisco sub-treasury.  The documents were attached by a pin. Notice how the pinpoint was placed below the top document to reduce the risk of  pricking one’s finger.  (This gives a new meaning to getting “stuck” with paperwork.)

This order is significant in itself.  The State Bank & Trust could no longer take delivery of coinage directly in Carson City since the Carson City Mint had ceased producing coins in 1893.  And because of the 1906 San Francisco earthquake, the San Francisco mint struck no quarters in 1906.  So the Carson bank was relying on its partner bank in San Francisco to secure small denomination coins and remit for use.  The confirmation of this transaction was then filed away for decades using a pin.

inter-bank correspondence
When I was young, my father would sometimes give me extra allowance and call it “pin money.”  He explained the history of the phrase and how early beaus would provide an allotment for their ladies to buy hair pins.  I associated pins with money based on the traditional phrase, but history shows how money itself was pinned, and how older notes got pinholes, which affect their value in the present.

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