106-482: Socatoon Station was a stagecoach station of the Butterfield Overland Mail between 1858 and 1861. It was located four miles (6.4 km) east of Sacaton at a Maricopa village from which it took its name. This station was located 22 miles (35 km) east of Maricopa Wells Station , 11 miles (18 km) east of Casa Blanca Station and 13 miles (21 km) north of Oneida Station . The location of
212-597: A terracotta seal with the American Express Eagle. In 1890–91 the company constructed a new ten-story building by Edward H. Kendall on the site of its former headquarters on Hudson Street . By 1903, the company had assets of some $ 28 million, second only to the National City Bank of New York among financial institutions in the city. To reflect this, the company purchased the Broadway buildings and site. At
318-588: A 4.61% worldwide market share by payment volume in 2022, compared to 38.73% for Visa and 24% for Mastercard. While American Express credit cards are accepted at 99% of US merchants that accept credit cards ( Costco being a notable exception), they are much less accepted in Europe and Asia. American Express offers various types of cards including travel and dining cards, everyday spending points cards, and cash back cards. Each category has several card options with different benefits and reward structures. High-profile cards like
424-457: A Butterfield stage and wrote the following: "After leaving this station [Arizona's San Pedro River Stage Station], the conductor asked 'how many of us were armed', and requested that those who had arms should have them ready for use, as we now were in the Apache country. Guns and pistols were produced, and we rode all night with them in our hands." This draft animal-drawn passenger and mail stage had
530-661: A better solution than the letter of credit. Berry introduced the American Express Traveler's Cheque which was launched in 1891 in denominations of $ 10, $ 20, $ 50, and $ 100. Traveler's cheques established American Express as a truly international company. In 1914, at the onset of World War I , American Express in Europe was among the few companies to honor the letters of credit (issued by various banks) held by Americans in Europe, because other financial institutions refused to assist these stranded travelers. The British government appointed American Express its official agent at
636-413: A favorite with some, for, though only opened one month before I passed over it, it was already pretty well marked with wagon tracks . …It must of course improve with every day of its use." Another Texas section: "The new road from Grape Creek to the head of Concho River, Texas, on Mr. Glover's division, is also in good order for travel and saves another thirty miles [the total length for this new section
742-717: A financial services holding company and made several acquisitions, creating an investment banking arm. In mid-1981 it purchased Sanford I. Weill 's Shearson Loeb Rhoades , the second-largest securities firm in the United States to form Shearson/American Express . Shearson Loeb Rhoades itself was the culmination of several mergers in the 1970s as Weill's Hayden, Stone & Co. merged with Shearson, Hammill & Co. in 1974, to form Shearson Hayden Stone . Shearson Hayden Stone then merged with Loeb, Rhoades, Hornblower & Co. (formerly Loeb, Rhoades & Co. ) to form Shearson Loeb Rhoades in 1979. With capital totaling $ 250 million at
848-659: A land route to deliver mail from the East to the West coast, but to aid emigrant travel to settle the West. Butterfield accomplished this purpose by providing an improved trail and water sources at regularly spaced stage stations. When researchers hike the Southern Overland Corridor, the most visible ruts are those of the route that the Overland Mail Company established, which others followed. Even though its services ceased on
954-524: A large increase in the number of emigrants on the trail. The San Antonio and San Diego Mail Line was operating on 900 miles of the improved trail and benefited by the regularly spaced water holes at Butterfield's stations. In October 1859, Superintendent Isaiah C. Woods complimented Butterfield for these improvements and the benefit to the San Antonio and San Diego Mail Line: "The San Diego Overland Route – Interesting News – From I.C. Woods, who has just crossed
1060-521: A local bank card clearing business license in China. In a court case Ohio v. American Express Co. (2018), merchants filed a class action lawsuit against American Express and claimed that charging high fees to merchants is a violation of the Sherman Antitrust Act . According to the lawsuit, American Express charges significantly higher fees than other credit card providers. In January 2017,
1166-568: A manner which would be a model in any country. The immigrants are coming slowly along, feeling in no hurry to enter California much before the rains have brought on the new grass. The stations of the Overland Mail companies and the wells dug by these enterprising men, are proving of incalculable benefit to those crossing with their own teams. The immigration on the Southern route, this year, will figure up from ten thousand to fifteen thousand souls, with
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#17328555396971272-525: A result of antitrust litigation brought by the United States Department of Justice . In January 2004, American Express reached a deal to have its cards issued by MBNA . Initially decried by Mastercard executives as nothing but an "experiment", the cards were issued beginning in October 2004. An agreement was reached regarding the acquisition of MBNA by Bank of America whereby Bank of America owned
1378-496: A sharp rebuttal from a Washington, D.C., newspaper. Mail Contract No. 12,578 for $ 600,000 per annum for a semi-weekly service was assigned to John Butterfield of Utica, New York , who was president for the contract that was named the Overland Mail Company. This was the longest mail contract awarded in the United States . It was a stockholding company and the main stockholders, besides John Butterfield, were also fellow directors of
1484-523: A stagecoach and a mail stagecoach is that a large compartment was provided below the driver's seat to carry mail and the rear boot for mail was larger. Butterfield's stagecoaches were used on 30% of the Southern Overland Trail at the eastern and western ends. American Express The American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment cards . It
1590-432: A strong sub-frame covered by decorated wooden paneling with ornate doors and comfortably padded seats. They often had window openings, but the western models designed for the rougher conditions had no glass panels. The roof was strong enough to support a metal railing where luggage could be carried. Seats were often provided on the roof. A canvas-covered boot at the back was used for luggage and mailbags. The difference between
1696-414: A tightly controlled, single-use card number. In March 2008, Standard Chartered Bank acquired American Express Bank Ltd, the international banking subsidiary of American Express for $ 823 million. On November 10, 2008, during the 2007–2008 financial crisis , the company received Federal Reserve System approval to convert to a bank holding company , making it eligible for government assistance under
1802-494: A very large amount of cattle and sheep. The old complaints of the immigrants are at present unheard of, owing to the better knowledge of the country now so readily obtained .” As noted above, the route from San Francisco to Fort Smith was the same for both routes. Travel time from Fort Smith to Memphis was about the same as to St. Louis. Management of the route from Fort Smith to Memphis was included in Division 8 . However, because of
1908-656: Is one of the largest US banks , and is ranked 77th on the Fortune 500 and 28th on the list of the most valuable brands by Forbes . In 2023, it was ranked 63rd in the Forbes Global 2000 . Amex also owns a direct bank . Founded in 1850 as a freight forwarding company, Amex introduced financial and travel services during the early 1900s. It developed its first paper charge card in 1958, gold card in 1966, green card in 1969, platinum card in 1984, and Centurion Card in 1999. The "Don't Leave Home Without It" advertising campaign
2014-453: Is 122 miles]. The New Pass between Los Angeles, and Fort Tejon, California, has been much improved under the superintendence of M.L. Kinyon [Kenyon], as have also been other portions of the route. The route of the company will, of course, be a favorite emigrant route, and will, therefore, be in better order than before, in fact, each month will add new facilities to the overland mail." Goddard Bailey's report shows that there were 139 stations at
2120-541: Is headquartered at 200 Vesey Street , also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan . Amex is the fourth-largest card network globally based on purchase volume, behind China UnionPay , Visa , and Mastercard . 141.2 million Amex cards were in force worldwide as of December 31, 2023, with an average annual spend per card member of US$ 24,059. That year, Amex handled over $ 1.7 trillion in purchase volume on its network. Amex
2226-531: The American Bureau of Shipping , a maritime concern (1977–86), and later J.J. Kenny, and Standard & Poor's , the latter of which renamed the building for itself. American Express extended its reach nationwide by arranging affiliations with other express companies (including Wells Fargo – the replacement for the two former companies that merged to form American Express), railroads, and steamship companies. In 1857, American Express started its expansion in
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#17328555396972332-536: The American Railway Express Agency formed in July 1918. The new entity took custody of all the pooled equipment and property of existing express companies (the largest share of which, 40%, came from American Express, who had owned the rights to the express business over 71,280 miles (114,710 km) of railroad lines, and had 10,000 offices, with over 30,000 employees). American Express executives discussed
2438-610: The Daily Alta California the following: "Between Vallecito and Algodones there are eight of these stations, varying from nine to sixteen miles apart. Wells have been sunk at each station, and abundance of good water is obtained, except at the Monument and Garden stations. These waters are brackish and bitter—a flavor not delicate to the taste. Drinking-water is carried from the other stations. These stations are of incalculable worth to emigrants, who are no longer forced to depend upon
2544-843: The St. Francis River . From there the route headed overland by stagecoach. When the Arkansas River was high enough, the mail could instead travel from Memphis by steamboat down the Mississippi to the mouth of the Arkansas River, navigate up that river to Little Rock, and on from there by stagecoach. When the Arkansas was too low for steamboat traffic, the Butterfield could take the White River to Clarendon, Arkansas , or Des Arc, Arkansas , before switching to
2650-665: The Tribeca section of Manhattan. For years it enjoyed a virtual monopoly on the movement of express shipments (goods, securities, currency, etc.) throughout New York State. In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings. In 1854, the American Express Co. purchased a lot on Vesey Street in New York City as
2756-627: The Troubled Asset Relief Program . At that time, American Express had total consolidated assets of about $ 127 billion. In June 2009, $ 3.39 billion in TARP funds were repaid plus $ 74.4 million in dividend payments. In July 2009, the company ended its obligations under TARP by buying back $ 340 million in Treasury warrants. As part of the conversion, the company reduced or closed many business lines of credit. In 2009, American Express introduced
2862-555: The U.S. postmaster general , at that time Aaron V. Brown , to contract for delivery of the U.S. mail from St. Louis to San Francisco. Prior to this, U.S. Mail bound for the Far West had been delivered by the San Antonio–San Diego Mail Line since June 1857. The route was designated a national historic trail in 2023. John Butterfield was a descendant of Benjamin Butterfield, who brought his family from England to
2968-478: The $ 226 million credit card portfolio of Bank of Hawaii , then a division of Pacific Century Financial Corporation In January 2006, American Express sold its Bank of Hawaii card portfolio to Bank of America ( MBNA ). Until 2004, Visa and Mastercard rules prohibited issuers of their cards from issuing American Express cards in the United States. This meant, as a practical matter, that U.S. banks could not issue American Express cards. These rules were struck down as
3074-786: The 1980s, began accepting cards using the Visa and Mastercard payment networks. In 2011, Amex launched the Blue Cash Preferred Card credit card. In October 2012, The Consumer Financial Protection Bureau (CFPB) required three American Express subsidiaries to refund an estimated $ 85 million to approximately 250,000 customers for illegal card practices between 2003 and 2012. Allegations included that American Express made misleading statements regarding signup bonuses, charged unlawful late fees, discriminated against applicants due to age, and failed to report consumer complaints to regulators. Also in October 2012, American Express and Walmart announced
3180-520: The 2nd U.S. Circuit Court of Appeals affirmed a lower court ruling that American Express could block merchants that accept its cards from steering customers to other cards, like those offered by Visa and Mastercard. In June 2018, the Supreme Court of the United States affirmed the 2nd Circuit's ruling. In 2018, the Gold Card was converted to a credit card for UK residents, but remains a charge card in
3286-556: The American Express Travelers Cheque Card, a stored-value card that serves the same purposes as a traveler's cheque, but can be used in stores like a credit card. Amex discontinued the card in October 2007. On September 30, 2005, American Express completed the corporate spin-off of its American Express Financial Advisors unit, Ameriprise Financial , to its shareholders and RSM McGladrey acquired American Express Tax & Business Services (TBS). In 2006,
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3392-610: The American Express network. American Express was, at the time, known for cutting its interchange fee to merchants and restaurants if they accepted only American Express and no other credit or charge cards. This prompted competitors such as Visa and Mastercard to file complaints as the tactics gave Amex exclusivity at restaurants. Capitalizing on this elitist image, American Express frequently mentioned such exclusive partnerships in its advertising. Aside from some holdouts including Neiman Marcus , which continued exclusivity until 2011,
3498-460: The Butterfield Trail. In 1858, with expedition leader Marquis L. Kenyon, John Butterfield Jr. helped to select the route and sites for the stage stations. Kenyon was also a stockholder/director of the Overland Mail Company and the only stockholder, other than John Butterfield, to have significant staging experience. Marquis moved from Mannsville, Jefferson County, to Rome, New York, in 1838. Rome
3604-522: The Costco card accounts was significant; in the first quarter without Costco cards, company profit dropped 10% and revenue dropped 5% compared to the previous year. On March 1, 2017, ANZ announced that it was no longer issuing American Express cards, with them phased out entirely by August 5, 2017. In October 2017, American Express established a joint venture company, LianTong ( 连通 ), in China to operate its payment card brand locally. In June 2020, it obtained
3710-455: The Fee Party's legal bills, and Discover Card was able to increase their acceptance among Boston restaurants by 375%. Kenneth Chenault , then head of Travel Related Services prior to becoming American Express CEO, cut fees to bring these restaurants back into the fold. American Express then shifted its focus from exclusivity to broadening acceptance, adding mainstream merchants like Walmart to
3816-492: The First World War, the 21-story neo-classical American Express Co. Building was constructed in 1916–17 to the design of James L. Aspinwall, of the firm of Renwick, Aspinwall & Tucker, the successor to the architectural practice of James Renwick Jr. The building consolidated the two lots of the former buildings with a single address: 65 Broadway . This building was part of the "Express Row" section of lower Broadway at
3922-566: The Green, Gold, and Platinum cards cater to frequent travelers and diners with perks tailored to these activities. In 1850, American Express was started as a freight forwarding company in Buffalo, New York . It was founded as a joint-stock corporation by the merger of the cash-in-transit companies owned by Henry Wells (Wells & Company), William G. Fargo (Livingston, Fargo & Company), and John Warren Butterfield (Wells, Butterfield & Company,
4028-548: The ICC was drawn to its strict control of the railroad express business. However, the solution did not come immediately to hand. The solution to this problem came as a coincidence to other problems during World War I. During the winter of 1917, the United States suffered a severe coal shortage and on December 26 President Woodrow Wilson commandeered the railroads on behalf of the United States government to move federal troops, their supplies, and coal. Treasury Secretary William Gibbs McAdoo
4134-578: The Massachusetts Bay Colony in 1638. His father, Daniel Butterfield, lived at Berne , in the Helderberg , near Albany, N.Y., where John was born. He attended schools near his boyhood home, but his education was meager. John's early involvement with stage lines started about 1820. "John Butterfield was borne at Berne, in the Helderberg, near Albany, November 18, 1801. In early life we find him in
4240-475: The Mississippi River westward. Nine bids were made by some of the most experienced stage men. None of the express companies, such as American Express , Adams Express , or Wells Fargo & Co. Express , bid on the contract because, as of yet, they had no experience running stage lines. A suggestion by The New York Times that the express companies could do a better job than the Overland Mail Company drew
4346-508: The North, and South to the Pennsylvania line, and through Chemung and Susquehanna valleys." By 1857, when John was awarded the Overland Mail Company contract, he had had 37 years of experience working for and running stage lines. This was one of the reasons that Postmaster General A.V. Brown awarded him the contract. Through the 1840s and 1850s there was a desire for better communication between
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4452-545: The Pacific coast, which left this city on the 3rd of January last, reached Fort Smith, Arkansas, on their return home, on the 17th inst., accompanied by four of the party which left San Francisco on the 16th of January, on purpose to examine that portion of the route from the Pacific to the Rio Grande. They left El Paso on the 22d of March, thus accomplishing the distance from the Rio Grande to Fort Smith—nine hundred and thirty miles—in
4558-453: The Shearson family, creating Shearson Lehman/American Express. Lehman CEO and former trader Lewis Glucksman became CEO of Shearson Lehman/American Express. In 1984, Shearson/American Express acquired Investors Diversified Services (IDS), bringing with it a fleet of financial advisors and investment products. In 1988, Shearson Lehman acquired the E.F. Hutton & Co. , a brokerage firm that
4664-468: The Southern Overland Corridor in March 1861 because of the impending Civil War, it was so efficient that it remained little changed until its demise with the completion of the railroad in 1880. For this reason, to this day, the Southern Overland Trail is most commonly called "The Butterfield Trail." The building of the trail was in two sections: the 462-mile (744 km) San Francisco to Los Angeles section and
4770-516: The U.S. Post Office, which went into effect on September 16, 1858, identified the route and divided it into eastern and western divisions. Franklin, Texas , later to be named El Paso , was the dividing point and these two were subdivided into minor divisions, five in the East and four in the West. These minor divisions were numbered west to east from San Francisco, each under the direction of a superintendent. John Butterfield Sr. turned to two of his most trusted and experienced employees to put in place
4876-864: The UK division of American Express joined the Product Red coalition and issued a Red Card, donating with each purchase through The Global Fund to Fight AIDS, Tuberculosis and Malaria to help African women and children with HIV/AIDS, malaria, and other diseases. In late 2007, the company announced the Plum Card for small business owners. In March 2008, American Express acquired the Corporate Payment Services business of General Electric , which primarily focused on providing purchasing card solutions for large global clients, for $ 1.1 billion in cash. The transaction added V-Payment to its product portfolio. V-Payment enables
4982-635: The United States, and in 2015 in Canada, Costco ended its relationship with Amex that had provided co-branded Costco membership cards since 2004. The cards issued by Costco in the United States were an extension of an exclusive deal between Costco and American Express dating from 1999. Costco was the last major US merchant that accepted American Express cards exclusively. Costco's Canadian stores ended its exclusive deal with American Express in January 2015, in favor of one with Capital One and Mastercard. Citigroup became
5088-617: The ZYNC charge card, a white card targeting young adults. The card was later discontinued. In November 2010, the UK division of American Express was cautioned by the Office of Fair Trading for the use of controversial charging orders against those in debt. The company was one of four companies who were allegedly encouraging customers to turn their unsecured credit card debts into a form of secured debt. In November 2011, Neiman Marcus , which gave general-purpose card exclusivity to American Express since
5194-564: The area of financial services by launching a money order business to compete with the United States Post Office 's money orders. Sometime between 1888 and 1890, J. C. Fargo took a trip to Europe and returned frustrated and infuriated. Despite the fact that he was president of American Express and that he carried with him traditional letters of credit , he found it difficult to obtain cash anywhere except in major cities. Fargo went to Marcellus Flemming Berry and asked him to create
5300-452: The arrival of the two parties at Fort Smith, Arkansas, and tells us that the choice for the trail did not satisfy Kenyon and his party and they returned from El Paso, Texas, by a different route, which became the trail. "A portion of the exploring party sent out by the Overland Mail Company, for the purpose of examining the routes for the carriage of the mails from the Valley of the Mississippi to
5406-583: The bank. Safra then opened a competing bank. In response, American Express launched an international smear campaign against Safra by inaccurately reporting to news and media outlets in that Safra was being investigated by the FBI for being involved in the Iran–Contra affair , along with drug trafficking and the mafia. All of the accusations were confirmed to be false and led to the resignation of Harry L. Freeman, public relations chief of American Express, after admitting to
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#17328555396975512-402: The beginning of Butterfield's service, but by the time the line ceased operations the line had been improved by the addition of thirty-six more for a total of 175. The new stations were assigned 320 acres each and many took advantage by growing crops which aided the line. Although there were springs and rain-fed waterholes along the trail, many did not have a sufficient water capacity to supply
5618-479: The beginning of World War I. They were to deliver letters, money, and relief parcels to British prisoners of war. Their employees went into camps to cash drafts for both British and French prisoners and arranged for them to receive money from home. By the end of the war they were delivering 150 tonnes of parcels per day to prisoners in six countries. In 1915, American Express established a travel division and soon established its first travel agency . Albert K. Dawson
5724-558: The budding Financial District and into rented offices in two five-story brownstone commercial buildings at 63 and 65 Broadway that were owned by the Harmony family. In 1880, American Express built a new warehouse behind the Broadway Building at 46 Trinity Place. The designer is unknown, but it has a façade of brick arches that are reminiscent of pre-skyscraper New York. American Express has long been out of this building, but it still bears
5830-439: The company. In 1979, American Express acquired 50% of the cable subsidiary of Warner Communications , forming Warner-Amex Satellite Entertainment , for $ 175 million in cash and short-term notes. It owned two-thirds of MTV , Nickelodeon , and The Movie Channel . The venture was unprofitable, and, in 1985, Amex sold its 50% interest to Viacom for $ 450 million. In the 1980s, American Express embarked on an effort to become
5936-599: The company: William B. Dinsmore of New York City ; William G. Fargo of Buffalo, New York ; James V.P. Gardner of Utica, New York; Marquis L. Kenyon of Rome, New York; Alexander Holland of New York City; and Hamilton Spencer of Bloomington, Illinois. There were four others known as sureties (security against loss). Almost all of the stockholders were connected to other businesses in Upstate New York and most lived near Butterfield's home in Utica, New York. Alexander Holland
6042-775: The continent on the San Diego and San Antonio Line, says the San Diego Herald , we gather some items which may be of interest: Woods pays a high compliment to the staging of the Butterfield Overland Company, along the Gila and over the Desert, particularly to Superintendent Buckley and Warren Hall, the Road Agent of this division [for Butterfield's Overland Mail Company. They have, he says, really worked wonders in organizing their road in
6148-502: The customer loans and American Express processed the transactions. American Express dismissed Bank of America from its antitrust litigation against Visa, Mastercard, and other banks. The first card from the partnership, the Bank of America Rewards American Express card, was released on June 30, 2006. In June 2005, American Express introduced ExpressPay, a contactless payment system based on wireless RFID . In July 2005, American Express issued
6254-521: The east and west coasts of the United States. There were several proposals for railroads connecting the two coasts. A more immediate realization was an overland mail route across the west. Congress authorized the Postmaster General to contract for mail service from Missouri to California to facilitate settlement in the west. The Post Office Department advertised for bids for an overland mail service on April 20, 1857. Bidders were to propose routes from
6360-408: The employment of Thorpe & Sprague, of that city, as a driver, and through the solicitation of Mr. Theodore S. Faxton came to Utica [NY], where he for a time was employed in picking up passengers from the taverns and boats for Parker's stages. After a time he started a livery [1827] with but small accommodations… His connection to Parker & Co. continued so long as they were still in business, and
6466-462: The end of the Wells-Fargo reign in 1914, an aggressive new president, George Chadbourne Taylor (1868–1923), who had worked his way up through the company over the previous thirty years, decided to build a new headquarters. The old buildings, dubbed by The New York Times as "among the ancient landmarks" of lower Broadway, were inadequate for such a rapidly expanding concern. After some delays due to
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#17328555396976572-476: The entire scandal. In July 1989, American Express publicly apologized to Edmond Safra and donated $ 8 million to the charity of his choice. In 1990, American Express sold its Swiss banking operations to Compagnie de Banque et d'Investissements, which led to the creation of Union Bancaire Privée (UBP). In 1984, Amex launched the Platinum Card, billed as an "ultra-exclusive" credit card with a $ 250 annual fee. It
6678-536: The exclusive issuer of Costco's credit cards and Visa replaced American Express as the exclusive credit card accepted at Costco's stores in the United States. All TrueEarnings card accounts and balances held by American Express were sold to Citigroup, and new Costco Anywhere Visa cards were sent to Costco members prior to the switch date. The Costco partnership represented 8%, or $ 80 billion, of American Express' billed business and about 20%, or about $ 14 billion, of its interest-bearing credit portfolio. The impact of losing
6784-494: The high-fee Centurion Card , often referred to as the "black card," which caters to an even more affluent customer segment. The card was initially available only to select users of the Platinum card. American Express created the card line amid rumors and urban legends in the 1980s that it produced an ultra-exclusive black card for elite users who could purchase anything with it. In December 2000, American Express agreed to acquire
6890-460: The idea of a "shotgun" rider next to the driver was not employed by Butterfield. When correspondent Ormsby asked one of the stage drivers, "Have you any arms?", the stage driver answered, "No, I don't have any; there's no danger." However, most people on the Butterfield stages were armed, especially in Comanche and Apache territory. In October 1859 correspondent Farwell was a passenger heading east on
6996-473: The introduction of railroads, he continued to carry on the business of mail contractor and stage proprietor on the small lateral lines; but his business energies were too expansive to be thus curtailed, and he soon found ampler vent for them than the _______ of his former vast carrying business afforded. Hence, when the overland mail route to California was projected, Mr. Kinyon [Kenyon] found a field of business enterprise more commensurate with his capacities. He it
7102-588: The launch of Bluebird, a prepaid debit card with roadside assistance and identity theft protection that can also be used as a substitute for a traditional transactional account whereby users can have payments deposited to the account and have insurance from the Federal Deposit Insurance Corporation . In October 2013, Amex sold most of its publications: Travel + Leisure , Food & Wine , Executive Travel , Black Ink , and Departures magazines, to Time Inc. Time restructured
7208-501: The line and emigrants. These were dug out to hold a larger capacity. Cisterns were constructed at some of the stations and water wagons were used to transport water from distant sources to fill the cisterns. At the Hueco Tanks in Texas, correspondent Ormsby tells of the tanks being enlarged by Butterfield to hold a year's supply of water. In June 1860 Butterfield passenger Wallace reported to
7314-532: The many improvements on the Texas side of the Red River starting about eight miles below Preston. A lengthy new section of road in Texas is described: "Another disadvantage under which we labored, this trip, was that our road, for the most of the way, was nearly new, though Mr. Bates claims that from Sherman to [Fort] Belknap at least forty miles are saved by it. It leads through the counties of Grayson, Cooke, Jacks [Jack], Montague, Wise, and Young, all of which contribute towards its expenses, and certainly it must be
7420-437: The most famous is Vallecito , which is preserved as a historic site. Kenyon's hardest task building the trail was east of Los Angeles, where his trail was mostly in the open desert. Waterman L. Ormsby, the correspondent for the New York Herald , a passenger on the first stagecoach going west in September 1858, wrote in his reports of Marquis L. Kenyon's part in building the trail and the advantage for emigrants. He writes about
7526-455: The official launch date. The card was launched with an annual fee of $ 6, $ 1 higher than Diners Club, to be seen as a premium product. The first cards were made of paper, with the account number and card member's name typed. In 1959, American Express became the first company to issue embossed plastic cards. In 1966, American Express introduced the Gold Card for "big-spending members". In 1977, James D. Robinson III became chairman and CEO of
7632-573: The opinion of Brown, greater ability, qualification and experience than anybody else to carry out a mail service, John Butterfield & Co. was selected and preferred. The route, known as the Oxbow Route because of its long curving route through the Southwest , was 600 miles (970 km) longer than the Central Overland Trail, but had the advantage of being snow free. The contract with
7738-407: The party proceeding East. The route traveled on the return trip was different from the one passed over in going out, ... " John Jr.'s obituary summarized his accomplishment: "John Butterfield [Jr.], the man who helped link the East to the West in establishing his famous Overland Mail Route more than half a century ago, died recently at his house in Utica, aged 82 years. His father, John Butterfield,
7844-420: The possibility of launching a travel charge card as early as 1946, but it was not until Diners Club launched a card in March 1950, that American Express began to seriously consider the possibility. At the end of 1957, under American Express CEO Ralph Reed the company entered the business and by the launch date of October 1, 1958, public interest had become so significant that 250,000 cards were issued prior to
7950-460: The practice largely ended in 1991. In April 1992, American Express spun off First Data in an initial public offering . In 1993, Harvey Golub became CEO of American Express. That year, American Express negotiated the sale of Shearson's retail brokerage and investment management business to Primerica . The Shearson business was merged with Primerica's Smith Barney to create Smith Barney Shearson . In June 1994, American Express completed
8056-459: The precious supply of water which the wells, afforded, and which were liable to be covered up by the sand-waves that move over the desert." Other improvements to the trail by Butterfield were the building of bridges: "Fourteen miles from Boggy Depot [Indian Territory now Oklahoma] we came to Blue River station, where a heavy bridge is building for the company." There were two bridges in Arizona. One
8162-419: The publications, which are now owned by Dotdash Meredith . In 2013, the company opened its first airport lounge, offering access to certain cardmembers. In March 2014, American Express announced the corporate spin-off its corporate travel business as American Express Global Business Travel and the sale of 50% of the business to an investor group led by Certares LP for $ 900 million. Effective in 2016 in
8268-424: The rest of the 2,238-mile (3,602 km) distance to Tipton, Missouri. The San Francisco to Los Angeles section was previously one of the most developed. Some changes were made from Los Angeles to San Francisco. Settlements and wagon roads used by local stage lines were strung out between San Francisco and Los Angeles. Some existing structures, such as ranch houses and hotels were contracted as stage stations. One of
8374-572: The result. It is a glorious triumph for civilization and the Union. Settlements will soon follow the course of the road, and the East and West will be bound together by a chain of living Americans, which can never be broken." As stated by President Buchanan in the congratulation telegram to John Butterfield, increased emigration would be a result of the improved trail. Just after Butterfield's service started in September 1858, there were many newspaper accounts of
8480-445: The sense of recovering] a few days, the above gentlemen left for this city—making the trip to this place in twenty-two days from El Paso, and thirty-one days from San Francisco to El Paso, or fifty-six days, through with wagons. …The party from California, in crossing Arizona, took a middle route between Beale's and the Southern route – (but little traveled heretofore,) pronounced by them, as an excellent road." Another report describes
8586-588: The short space of twenty-five days, which we believe is the quickest time on record in crossing the Plains. The party was composed of only eight men, as follows: Major George W. Wood, Jesse Tolcott, Charles P. Cole and J.A. Lilly, of the St. Louis party, and Lieut. Frank de Ryther, James Swartz and John Butterfield Jr. of the San Francisco party. They brought with them one wagon and thirteen animals, which they left at Fort Smith for
8692-482: The site for its stables. The company's first New York headquarters was an 1858 marble Italianate palazzo at 55–61 Hudson Street , which had a busy freight depot on the ground story with a spur line from the Hudson River Railroad . A stable was constructed in 1867, five blocks north at 4–8 Hubert Street. The company prospered sufficiently that headquarters were moved in 1874 from the wholesale shipping district to
8798-489: The spin-off of the remaining investment banking and institutional businesses as Lehman Brothers , ending its foray into the brokerage business. In September 1994, the Optima True Grace card was introduced. The card was unique in that it offered a grace period on all purchases whether a balance was carried on the card or not, not charging interest on new purchases immediately for cards with unpaid balances. The card
8904-482: The stage-coach line of which he was an employee; and once having placed his foot on the first steps of the ladder, he soon rose, by his business tact and assiduity, to be the principal proprietor of the stage-coach lines converging to this point. At the time that railroads supplanted stages on the leading routes, Mr. Kinyon [Kenyon] was one of the most extensive owners of stage-coach property in Central New York. After
9010-503: The stagecoaches. Sometimes the entire route across eastern Arkansas would be by stage. No one on a Butterfield stage was ever killed by outlaws, but some died in accidents caused by the mostly unbroken mules or mustangs running wild. Butterfield's stages were not allowed to carry shipments of valuables. In Butterfield's instructions to his employees was "No money, jewelry, bank notes, or valuables of any nature, will be allowed to be carried under any circumstances whatever." For this reason,
9116-692: The station was on the route of the Southern Emigrant Trail at the first camp on the Gila River after crossing the desert from Tucson . It was a stopping place for the San Antonio-San Diego Mail Line in 1857–58 before becoming the site of a Butterfield station. After the Civil War, it was again used as a stage station by other stage lines. Butterfield Overland Mail Butterfield Overland Mail (officially Overland Mail Company )
9222-403: The successor earlier in 1850 of Butterfield, Wasson & Company). Wells and Fargo also started Wells Fargo & Co. in 1852 when Butterfield and other directors objected to the proposal that American Express extend its operations to California. American Express initially established its headquarters in a building at the intersection of Jay Street and Hudson Street in what was later called
9328-555: The time of its acquisition, Shearson Loeb Rhoades was the second-largest brokerage firm , behind Merrill Lynch . After the purchase of Shearson, Weill was given the position of president of American Express in 1983. Weill grew increasingly unhappy with responsibilities within the company and his conflicts with CEO James D. Robinson III . Weill soon realized that he was not positioned to be named CEO and resigned in August 1985. In 1984, American Express acquired Lehman Brothers and added it to
9434-431: The time. The building completed the continuous masonry wall of its block-front and assisted in transforming Broadway into the "canyon" of neo-classical masonry office towers familiar to this day. American Express sold this building in 1975, but retained travel services there. The building was also the headquarters over the years of other prominent firms, including investment bankers J.& W. Seligman & Co . (1940–74),
9540-516: The trail and immediately sent his hand-picked team, headed by Marquis L. Kenyon, to San Francisco to begin the task. The steamer Star of New York left New York on November 20, 1857, with passengers "M.L. Kinyon [Kenyon], J. Butterfield [Jr.], F. De Ruyter and S.K. Nellis, who go out to open the Pacific Mail Route across the plains and arrange the western terminus of said route." The party left San Francisco on January 16, 1858, to begin laying out
9646-418: The trail and selecting the sites for stage stations. They traveled by mule covering about 40 miles (64 km) per day. Another party left St. Louis about the same time. Both were to meet at El Paso, Texas, and then return to St. Louis. The party from St. Louis was G.W. Wood, Jesse Talcott, and Charles P. Cole. A Fort Smith, Arkansas, newspaper reported: "The parties met at El Paso and after recruiting [used in
9752-514: The untamed nature of the Mississippi River and its Arkansas tributaries in those years, the southern route necessarily utilized various alternative routes and methods of travel. At that time, there was no Mississippi River bridge at Memphis, and the Memphis and Little Rock Railroad ran from Hopefield near present-day West Memphis, Arkansas , only to a point 12 miles east of Madison, Arkansas , on
9858-521: The use of Visa and Mastercard. The rationale was due to far lower fees as compared to American Express' fees at the time (which were about 4% for each transaction versus around 1.2% for Visa and Mastercard). The revolt, known as the "Boston Fee Party" (alluding to the Boston Tea Party ), spread to over 250 restaurants across the United States, including restaurants in other cities such as New York City , Chicago , and Los Angeles . Visa offered to pay
9964-430: Was Butterfield's son-in-law and treasurer of the Overland Mail Company. Dinsmore was vice-president of the company. The office for the company was in New York City. Why John Butterfield was chosen was stated by Postmaster General Aaron Brown: ... a route which no contractor had bid for, but one which in the judgement of A.V. Brown, of Memphis, had more advantages than any other, and, as John Butterfield & Co. had, in
10070-475: Was a stagecoach service in the United States operating from 1858 to 1861. It carried passengers and U.S. Mail from two eastern termini, Memphis, Tennessee , and St. Louis, Missouri , to San Francisco, California . The routes from each eastern terminus met at Fort Smith, Arkansas , and then continued through Indian Territory ( Oklahoma ), Texas , New Mexico , Arizona , Mexico , and California ending in San Francisco. On March 3, 1857, Congress authorized
10176-578: Was a superintendent of the Overland Mail Route from San Francisco to St. Louis and thence to eastern cities. The younger Butterfield first traversed the famous route, marked the stations, superintended the work of organization and drove the first stage over the route. The history of the Butterfield Trail and the Emigrant Trail are intertwined. It was the purpose of awarding the contract to the Overland Mail Company, on September 16, 1857, not only for
10282-806: Was across the San Simon River near San Simon Stage Station, and the other across the San Pedro River just north of the San Pedro River Stage Station. The trail that John Butterfield had established was so efficient that it was little changed until its demise in 1880 with the completion of the railroad, and the impact the Butterfield Trail had for settling the West cannot be understated, as written by President James Buchanan congratulating John Butterfield for his achievement: "Washington, Oct. 9, 1858 John Butterfield, Esq .: Sir – Your dispatch has been received. I cordially congratulate you upon
10388-399: Was assigned the task of consolidating the railway lines for the war effort. All contracts between express companies and railroads were nullified and McAdoo proposed that all existing express companies be consolidated into a single company to serve the country's needs. This ended American Express's express business and removed them from the ICC's interest. The result was that a new company called
10494-547: Was discontinued a few years later. In 1998, Amex launched the Blue credit card, targeted at young adults, in the UK after testing it in other countries. The card had a smart chip and users were encouraged to pay bills and get information via the company website. It launched in the US in 1999. A television media campaign for Blue adopted the 1979 UK Synthpop hit " Cars " by Gary Numan as its theme music. In 1999, American Express introduced
10600-581: Was instrumental in expanding business operations overseas, even investing in tourist relations with the Soviet Union . During World War I, Dawson was a photographer and film correspondent with the German army. American Express was one of the monopolies that President Theodore Roosevelt had the Interstate Commerce Commission (ICC) investigate during his administration (1901–1909). The interest of
10706-511: Was introduced in 1975 and renewed in 2005. In the 1980s, Amex acquired and then divested a stake in Shearson . In the 1990s, it stopped reducing interchange fees for merchants who exclusively accepted Amex cards and expanded market share through targeted marketing campaigns. Amex converted to a bank holding company during the 2007–2008 financial crisis . Amex began operating airport lounges in 2013, offering access to certain cardholders. Amex had
10812-475: Was merged with the investment banking business. The investment banking arm was renamed Shearson Lehman Hutton, Inc. In 1983, as part of Robinson's plan to expand into international banking of wealthy clients, Amex acquired Trade Development Bank of Geneva from Edmond Safra for US$ 550 million and Safra became a member of the board of directors of Amex. TDB executives were excluded from important company decisions and Safra unsuccessfully tried to repurchase
10918-556: Was offered by invitation only to American Express customers with at least two years of tenure, significant spending, and excellent payment history. In 1987, American Express introduced the Optima card, its first credit card product that did not have to be paid in full at the end of the month. In 1991, a group of restaurants in Boston , including some that were exclusive to Amex, stopped accepting American Express while accepting and encouraging
11024-573: Was succeeded by lines of his own, wherein he was a leading manager in the State until staging was superseded by railroads." After his employment with other stage lines, John decided to use this experience for running his own stage lines in Upstate New York. "Mr. Butterfield devoted his attention largely to lines running North and South. At the height of stage coaching he had forty lines running from Utica as headquarters to Ogdensburg and Sacketts Harbor on
11130-514: Was twelve miles from John Butterfield's home in Utica. He immediately became involved with staging. His obituary gives a good summation of his staging activities in Upstate New York and what led him to be involved with the Overland Mail Company: "His prior occupation was a humble one—that of driver of a stage-coach between Utica and Oswego. It was but two or three years before he had saved enough money from his wages to purchase an interest in
11236-478: Was who went over the whole route originally, and surveyed it from the eastern terminus to its western in California." Returning, he procured the necessary equipment for the route, and went over it again, organizing the route as he proceeded, and remained for nearly a year in California, in charge of the western terminus of the road." After winning the contract on September 16, 1857, Butterfield had one year to organize
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