This Date in Wells Fargo History https://www.wellsfargo.com/about/this_date Daily: This Date in History news feed. en-US Copyright 2014, Wells Fargo. All rights reserved. Thu, 18 Dec 2014 history 360 This Date in Wells Fargo History https://www.wellsfargo.com/about/this_date December 18, 1857. "You will observe that our new Receipts are FORWARDERS' Receipts only," Wells Fargo superintendent J.M. Vansyckle told all agents. The Company's expanding number of offices and lengthening routes made carrying gold more risky, which some agents did not seem to understand. "If parties shipping Treasure through us wish it INSURED against all Risks, that is: Common Carriers (Robbery we are responsible for as Common Carriers) -- Sinking -- Explosion or Burning of Vessels, they must pay the following rates over and above our regular charges as Forwarders." Rates ranged from 1/8 to 1/4 percent -- except on the coastal steamers going to Portland and Los Angeles. Summer rates were 1/2 percent, but during rough, winter weather, they climbed to 1 percent. Vansyckle added that insurance rates would not be charged "for Treasure over our Stage routes; this risk is covered by our regular charges." If agents did not mark waybills properly," he warned, "the loss will be charged to you." For William Daegener in Columbia Vansyckle had a special message: "Look well to the above -- for according to your Waybill, You don't seem to understand it."

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Thu, 18 Dec 2014