Adams Express Company

The Adams Express Company is an American investment trust that traces its roots to a 19th century freight and cargo transport company.

In 1839, Alvin Adams, a produce merchant ruined by the Panic of 1837, began carrying letters, small packages and valuables for patrons between Boston and Worcester, Massachusetts. He had at first a partner named Burke, who soon withdrew, and as Adams: & Company, Adams rapidly extended his territory to New York City, Philadelphia and other eastern cities. By 1847, he had penetrated deeply into the South, and by 1850 he was shipping by rail and stagecoach to St. Louis. In 1854, the company was reorganized as the Adams Express Company. Meanwhile, a subsidiary concern, Adams & Company of California, had been organized in 1850 and spread its service all over the Pacific Coast; but not being under Adams' personal management, it was badly handled, and failed in 1854, causing a panic which shook California to its depths.

The South was almost entirely covered by the Adams Express service in 1861, when the American Civil War necessitated the splitting off of another company under Henry B. Plant, which, for political reasons, was given the name of Southern Express. There was a mysterious kinship between the two ever afterward, having joint offices at common points. Southern stock was never quoted in the market, and it was even charged by some Adams stockholders that Southern was secretly owned by Adams. The current official history of Adams, written in 2004, acknowledges that Southern was its subsidiary. [http://www.adamsexpress.com/content/pdf/adams_history.pdf]

The parent company held a strong position from New England and the mid-Atlantic coast to the far Western plains. Its stock holdings were enormous. In 1910, it was the second largest stockholder in the Pennsylvania Railroad and the third largest in the New Haven Railroad, besides owning large blocks of American Express, Norfolk and Western Railroad and other shares. Its antebellum employment of Allan Pinkerton to solve its robbery problems was a large factor in building up the noted Pinkerton National Detective Agency. Along with the other expresses, its shipping interests were merged by the government into the American Railway Express Company, which later became the Railway Express Agency.

Adams Express continued its corporate existence as a wealthy investment trust. It has been a closed-end fund (nyse|ADX) since 1929 and has its main offices in Baltimore, Maryland. As of 2007, it has paid a dividend every year for 72 years (since 1936).

References

* Dictionary of American History by James Truslow Adams, New York: Charles Scribner's Sons, 1940

See also

* Kate Warne
* William F. Harnden

External links

* [http://www.adamsexpress.com/ Adams Express Company]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Adams-Farwell — Gyro Motor Rotary, Gyrokopter Motor für eine erfolgreiche Versuchsreihe, 1909 Der Adams Farwell war ein innovatives, US amerikanisches Automobil aus Dubuque, Iowa, das von 1905 bis 1913 von der Adams Company lokal hergestellt wurde …   Deutsch Wikipedia

  • Company of Heroes — Developer(s) Relic Entertainment …   Wikipedia

  • Alvin Adams — Infobox Person name = Alvin Adams caption = birth date = June 16 1804 birth place = Andover, Vermont death date = September 2 1877 death place = Watertown, Massachusetts other names = known for = founder of Adams and Company occupation = Alvin… …   Wikipedia

  • Railway Express Agency — The Railway Express Agency was a rail express service, and at one time, the only one in the United States. Originally the American Railway Express Company, its name was changed in 1929. The Railway Express Agency came into being when the USRA,… …   Wikipedia

  • REA Express, Inc. — ▪ American company formerly (1918–29)  American Railway Express Company , or (1929–70)  Railway Express Agency, Inc.        American company that at one time operated the nation s largest ground and air express services, transporting parcels,… …   Universalium

  • Daily Express — For other uses, see Daily Express (disambiguation). Daily Express Front page, 19 November 2011 Type Daily newspaper Format Tabloid …   Wikipedia

  • United Kingdom company law — Beside the River Thames, the City of London is a global financial centre. Within the Square Mile, the London Stock Exchange lies at the heart of the United Kingdom s corporations. United Kingdom company law is the body of rules that concern… …   Wikipedia

  • Samuel Adams — Infobox Governor name= Samuel Adams order=4th office= Governor of Massachusetts term start= October 8, 1793 term end= June 2, 1797 lieutenant= Moses Gill predecessor= John Hancock successor= Increase Sumner birth date= OldStyleDate|September… …   Wikipedia

  • Neal Adams — For the American football player, see Neal Adams (American football). Not to be confused with Neil Adams. Neal Adams Adams at the Big Apple Con, November 15, 2008. B …   Wikipedia

  • Ralph Adams Cram — Ralph Adams Cram, 1911 Born December 16, 1863 Hampton Falls, New Hampshire Died September 22, 1942 …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.