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This Date in Wells Fargo History

May 26, 2015

May 26, 1870. A new emphasis on financial services came today at the Wells Fargo directors' meeting. Company president William Fargo in New York, and California banker D.O. Mills and financier Lloyd Tevis, "shall have full power and authority," those in authority decreed, "to take the charge, control & management of the affairs & business of this company." The Executive Committee of Mills and Tevis in San Francisco trumpeted services performed by Wells, Fargo & Co., Bankers: "Deposits received, Loans made on approved Securities, Investments attended to, and a general Banking Business transacted."