Wells Fargo - Guided By History Blog

Mrs. Shore's loss is women's gain

2009-11-02T23:30:20Z

When was the last time you lost $2,150? And because of a hole—not in your pocket, but in your stocking!

The Wells Fargo History Museum in San Francisco recently opened a new exhibit, "Women Making Financial History." It interprets the many different roles women have played and are playing in the financial world: as bankers, as customers, as pioneers; even as images on currency. If you’re in town, I’d definitely recommend you check it out.

(But until then, take a look at the mini-site about the exhibit, sort of a "sneak preview.")

One of the interesting stories on the site is one about how banks in the early 20th century accommodated the needs of their female customers. For hundreds of years women had typically been financially dependent on their husbands or family. It was in the late 19th century that a large number of women began to join the workforce, and therefore, gain economic power. Banks took notice, and they realized that women were a different type of customer. They needed and wanted to be treated differently.

Maybe even have a separate room to do their banking. I know, it sounds bad, right? But the reason is that many women didn’t trust banks. They had for years carried their valuables and money in their stockings or underneath their blouses. Imagine just how uncomfortable it would be, going to make a deposit and having to dig for your money in front of all the male bankers and the other customers! And, at a time when female propriety was often scrutinized, this wouldn’t be very ladylike.

But as Mrs. Shore found out when she lost $2,150 worth of jewels, through a hole in her stocking, it wasn’t the safest place for keeping valuables. Maybe a bank, with a little privacy, was less inconvenient than risky hosiery. Banks "got it" — the "stocking room" was created. Here was a special room, just for the ladies, where they could do their banking. And of course, ready their deposits in private.

Creation of the stocking room shows an interesting paradox: banks treated women differently on account of their sex, as society has for thousands of years. BUT, it also shows that society was beginning to value and better understand women’s economic importance. Banks were doing what they had to to gain women’s trust, and women's business.

To me, the stocking room shows an interesting shift. Though it physically separated the sexes, its intention, strangely enough, was a step towards gender equality: women were being recognized for their financial power, and were being encouraged to join the banking world.

As a modern woman, I’m not sure how I feel about the need for a separate room to do my banking just because I’m female. But then, I don’t wear stockings full of jewels!

Women Making Financial History

2009-10-29T17:45:38Z

In association with the International Museum of Women (IMOW) , the Wells Fargo History Museum in San Francisco has opened its latest exhibit, "Women Making Financial History." This exhibit examines women's roles in making and managing money, from the early history of the United States to today — all around the world.

The exhibit features striking photo essays of women benefitting from micro-lending in Nepal, new entrepreneurship of Arab women in Qatar, and more. The original material is from IMOW's virtual exhibition, "Economica," which explores the many facets of women's experiences of and contributions in the global economy.

"Women Making Financial History" introduces women who came West to make their fortunes, and build businesses and communities. It shows female Wells Fargo agents who provided financial services across the frontier, and remarkable woman pioneers in banking. You can enter a money vault to view historic coins and currency featuring women. You can experience banking in the 1920s inside our recreated bank Women's Department, and see vintage bank advertisements focused on women customers.

The first woman to be portrayed on U.S. currency was Martha Washington, the first First Lady of the United States. She was featured on an 1891 One Dollar Silver Certificate, which were exchanged for silver coins from 1878 to 1964. (It is still legal tender, too.) In the Museum, you can take photos and print your mug on vintage style bills, and take them home with you. (Look serious or silly — your choice!)

Find out what it was really like to work in a bank a long time ago, as you try your hand on our 1895 check cutter. See other machines that men and women bankers would have used back then. You can talk to a friend on two old-fashioned candlestick telephones. No speed dialing, though.

Ever heard of a "Stocking Room"? There was a time in the early 1900s when women didn't feel comfortable entering the very masculine environment of banks, and even avoided having bank accounts. Some women tucked their money and valuables in their stockings instead, under their floor-length skirts.

In order to gain these women for customers, banks came up with the Stocking Room — a Women's Department. This was a safe haven where ladies could remove their cash and do their banking without the distraction of men, cigars and spittoons.

Women Making Financial History will run through spring 2010, and can be seen at:

The Wells Fargo History Museum
420 Montgomery Street
San Francisco, CA

Admission to the Museum is free. Hours are 9:00 am to 5:00 pm, closed weekends and bank holidays.

More information can be found at our Wells Fargo Historical Services website! Just click on "New Online Exhibit: Women Making Financial History."

Clark, Gruber & Co. and the First National Bank of Denver

2009-10-22T20:00:38Z

In past articles I covered the first national bank chartered in California and the first national bank chartered on the Pacific Coast. In this post I'll share some of the incredible history of the first national bank chartered west of the Great Plains, the First National Bank of Denver. This bank's history incorporates a gold rush, a private mint, a national bank, and ultimately a Federal mint. This is truly amazing.

Our story begins in Leavenworth, Kansas Territory , in 1855 when Milton Clark set up shop as a grocer. Within two years, Clark, his brother Austin, and Emanuel Gruber formed Clark, Gruber & Co. to capitalize on the recent gold rush at Pikes Peak, Colorado. In 1860, they built a two story building in Denver.

Clark, Gruber & Co. bought gold dust with the idea that they would transport the gold back East to Federal mints. Huge transportation costs, however, sparked their interest in setting up their own mint to coin the gold with standard mint value. This would save the transportation cost and provide a valuable source of local exchange.

Very quickly, the firm earned a reputation as honest and trustworthy, with an exceptionally fast turnaround. The firm acquired minting equipment in Boston and made their services available to the public on July 5, 1860.

Over the next two years the firm minted thousands of gold coins ranging in value from $2 ½ to $20. Although most of the coins contained designs similar to the Federal issues of the day, their most famous designs contain a picture of Pikes Peak to pay tribute to the source of the bullion. Interestingly, the engraver had never seen Pike's Peak so the design bears no resemblance to the real mountain.

Following three years of frenzied private coining, Clark, Gruber & Co. sold their minting and refining business to Uncle Sam in 1862, when Congress established the mint in Denver. The Department of Treasury, however, used these facilities only as an assay office and depository for over forty years.

Amazingly, our story does not end here. The Treasury Department finally did convert this facility in 1906 to a full-fledged mint. From 1906 forward, billions of coins have been struck at the Denver Mint with the "D" mintmark.

You may ask, then, what connection does this have with Wells Fargo beyond having a parallel history to Wells Fargo itself? Well, their parallel history intersected over a century later....

]]> After Clark, Gruber & Co. sold their refining and minting operation to Uncle Sam, they continued in the banking business. Although the company had issued their own banknotes, redeemable in gold at a time when Federal currency was not convertible, they elected to charter a national bank in 1865. The First National Bank of Denver received OCC Charter number 1016. Over the next several decades, First National Bank of Denver continued to grow, and merged with other Denver firms such as Merchants National Bank in 1881 and Capitol National Bank in 1912.

In an effort to signify its heft in the intermountain region, First National Bank of Denver renamed itself to Intrawest Bank of Denver in 1982. Exactly one year later, Intrawest merged with First Interstate Bank of Denver, NA. This institution was acquired by Wells Fargo thirteen years later, and changed its name to Wells Fargo Bank (Colorado), NA on June 1, 1997.

At this point the premier bank of the Pike's Peak Gold Rush merged into the premier bank of the California Gold Rush. And while many people assume that Wells Fargo has produced coins or ingots (which we have not!), Wells Fargo can proudly say that it does have a private mint in its heritage.

If you're interested in reading more, the American Numismatic Association published a fascinating article on Clark, Gruber & Co. (pdf) in their July, 2006 magazine.

Oh, and next time you check your pocket change and find coins from the Denver Mint, tip your hat to Clark, Gruber & Co. — one of the many outstanding limbs of the Wells Fargo family tree!

Build a Wells Fargo History Museum...

2009-10-19T21:52:33Z

...and they will come....

Minnesota may not be the center of the world in many respects, but the world certainly comes to visit us. Over a span of just two days, the Wells Fargo History Museum in Minnesota had visitors from six different countries.*

First was a group of visitors from Iceland , who were on a trip tracing the paths of emigrants from Iceland to the United States. They were followed by a research scientist from Scotland, who came back the next day to show us photographs of the museum that he'd created in his village to document their local history. Next were families from France and Australia.

Then a couple from Wales asked me, "What does Wells Fargo do now that they're not an express company?”

And finally, a couple from Mexico visited us – they were in town for the Twin Cities Marathon.

I love our local visitors — our team members and school children — but there's just something special about hosting international visitors. Our roots may be deep in Minnesota soil, but it's nice to know that we branch out all over the world.

*You could say seven different countries — if you count the Packers fans visiting from Wisconsin!

Remember and Prepare!

2009-10-16T23:45:10Z

Saturday, October 17, marks the anniversary of the Loma Prieta earthquake in the Bay Area. We've posted some stories this past week of people who remember the day.

Also this past week, millions of Californians participated in the "The Great California Shake Out," a series of events that became the biggest earthquake drill ever. That morning 20 years ago, just about everyone everywhere was ducking, covering, maneuvering, practicing, checking. We're ready — but you can't be too ready, of course. That's why we practice, practice, practice.

Meanwhile, the Bay Area Chapter of the American Red Cross has its own "Memories of Loma Prieta" feature on its website. Wells Fargo and its team members have long supported communities with financial and human capital, and there are so many other groups who do as well. The Red Cross is one such organization that truly helps build community.

Three and a half years ago, Guided By History was born to commemorate the centennial of the San Francisco Earthquake and Fire on April 18, 1906. This year, with the 20th anniversary of Loma Prieta on October 17, we remember and continue that first mission. We want to help you prepare and stay prepared. So here's a suggestion:

On April 18, check the batteries in your smoke detector, and double-check your gas and water main valves. On October 17 — a near-perfect six month's time — check your disaster kit and stash , replacing any supplies that have expired or look old and worn. Use these dates as reminders to be ready for natural disasters.

Remember and Prepare!

"It Shook Pretty Good at the Ballpark"

2009-10-14T23:20:14Z

Naomi Ishida is with Wells Fargo's Customer Connection. In October 1989, Naomi assisted then-CEO Carl Reichardt.

About October 17, Naomi remembers, "I wasn't even here at the Bank — I was at the World Series game! You can tell where my loyalty was on that day."

Naomi was at Candlestick Park to see the San Francisco Giants host the Oakland Athletics in Game 3 of the World Series. The Fall Classic that year was dubbed "The Bay Bridge Series," after the span that connects Oakland and San Francisco. The powerful A's had taken the first two games in Oakland over the weekend, and were flyin' high on the strength of "The Bash Brothers" and the derring-do of Rickey Henderson. The Giants had their backs to the wall as the Series moved to the 'Stick.

The game was scheduled to begin after 5 p.m. on Tuesday the 17th. Many in the Bay Area took the day off to see the game, or left early to get home and watch it on TV. At 5:00, the game aired on ABC. Four minutes later, the earthquake struck.

"It shook pretty good at the ballpark," Naomi says. "The light standards were swaying back and forth. With the sound of the rumble, lots of fans thought folks were stomping their feet in excitement of the ballgame starting, before we all realized it was an earthquake."

"Some fans had small TVs with them," she continues, "and we quickly realized how bad this was. Surprisingly — and thankfully — once we were told to evacuate the ballpark, everyone was calm and exited as quickly but as calmly as possible...."

]]> Candlestick Park is located right off US Highway 101 south of San Francisco. There are parking lots on three sides, and traffic before and after games can be a minor exercise in patience.

It was a little different that day, though. As Naomi recalls, it took "roughly 2 hours to get to 101...everything on the west side of 101, going south, was dark." People crept home on dark roads throughout the area. To get across the Bay, people had to go south to other bridges (even to San Jose) because a section of the Oakland-San Francisco Bay Bridge had collapsed. That bridge was closed for a month for repairs.

The Series was delayed for ten days after Loma Prieta, as the Bay Area recovered from the disaster. The first two games were played with a feeling of exuberance, but the last two were played in jittery relief. The Athletics won handily in a four game sweep.

And what of Naomi's boss, Wells Fargo CEO Carl Reichart, who spent the day without his expert help?

"I am told that Mr. Reichardt was out of the building at that time," Naomi says. "His driver was trying to locate him, and he eventually got back to the building about an hour after the quake hit. He checked with folks still in the building, and offered a ride to anyone having to go to Marin County."

"Those Timbers Were More Like Rubber Bands..."

2009-10-13T19:00:10Z

My friend Mike Majoulet works in Wells Fargo Brand Management. He makes sure our communication looks right — that logos are where they belong, that signs in stores say the right thing and don't get in your way, and that Historians don't tell the story wrong just to get a laugh. Yes, Michael is the Chief!

He also has a good story about his experience in 1989, the day Loma Prieta struck. (CR)

"I was managing the Baker Hamilton building on October 17, 1989. The Baker Hamilton is a brick and timber warehouse at 7th and Townsend Streets, a part of San Francisco for over a century. The building was 290,000 square- feet and historic — which means unreinforced.

"The Baker Hamilton is a 4-story monolith of a building, built in 1904. The company was the largest hardware distributor west of the Mississippi probably up to the 1950s. The building rests on huge redwood tree piles driven about 75 feet into the ground. It survived the 1906 quake very well. My understanding is that hardware from Baker Hamilton was key to getting the City on its feet in 1906. In fact, Baker Hamilton distributed things like shovels, axes and housewares the day of the earthquake in '06.

"At the time I managed the property, it was mixed use — storage in the basement, and furnishings retail on upper floors. I was at my desk when the quake hit. Remember, this is a brick and timber building and the timbers are 2 feet square on the top floor where I had my office. I was sitting there and I could not quite believe what I was seeing. Suddenly, those timbers were more like rubber bands, almost liquid in undulation!

"There was grinding, bumping, and thumping all around me as the quake's waves passed through. Files flung open on one side of the room, and slammed shut on the opposite wall. Wild stuff! It felt like it would never stop, but as we all know, it did. I was sitting in disbelief as 90 years of dust was unleashed from the wood-slat ceiling above me. The room was golden from the sun hitting the dust particles.

"I suddenly remembered I was the building manager and had the responsibility of making sure all my tenants were OK — who cares about the building!

"With my heart in my throat I ventured into the building to see what happened. Luckily, there were no injuries, but there was furniture everywhere, as most tenants sold home furnishings. Some were much more concerned about their stock and not the possibility of another quake, so I 'ordered' everyone out. We didn't have a major aftershock, but as we started looking around outside, we quickly saw the city was in bad shape. A block away, several people were crushed to death when that brick and timber building lost its walls. Cars on the sidewalk were now only two feet high, flattened under bricks.

"I managed to make my way home to Tiburon that night, driving under the freeway that ran along the Embarcadero — which was condemned the next day. I drove across to Van Ness Avenue , because you couldn't continue along the Marina, which was all rubble and flames. I ended up in Pacific Heights on Divisadero Street : When I came over the crest of 'Divis,' heading down toward the bay, I saw the Marina on fire. Most, if not all, electricity was off, so the glow was heightened that evening.

"I was very nervous about what my home might look like, considering what I'd just experienced. But it was weird...I had 2 pendulum clocks in the house. The table clock in the living room had a pendulum that swung east/west and always ran. But it stopped that day at the exact time of earthquake. The second clock was on a small wall between bedrooms, and I never ran it because the 'tick, tick, tick' and my sleep didn't get along. Its pendulum swung north/south. When I got home, that clock was running.

"I’d still take a quake over a tornado."

Loma Prieta, 20 Years After

2009-10-10T00:45:07Z

Next Saturday, October 17, is the 20th anniversary of the Loma Prieta earthquake. The quake shook the San Francisco Bay Area beyond its 7.1 Richter score: Dozens of people died, millions in property losses were sustained, and the City was shut down for days.

Guided By History began three and a half years ago as part of the centennial commemoration of the 1906 earthquake and fire in San Francisco. That and the Gold Rush certainly are the defining moments for the City, even as it’s enjoyed a long and dynamic reputation since.

But remembering something from a century ago is different than something that occurred in our lifetime. Many who are too young to remember are still connected to people who not only remember, but who were there. During the first months of this blog's existence, we wrote about Loma Prieta and used its lessons to help everyone prepare for the next one — the one that is coming any minute....

I myself have a distinct memory, which I wrote about last year. Many people I work with have memories, and many others remember moments and people and stories from that eerie day.

Between now and next Saturday, we'll share some of those stories. But there's nothing more important than taking that personal drama you read about, and turning your feelings about it into a specific action — namely, taking the few minutes to get your kit together.

The coldest thing to consider is that at least 63 people died in the Loma Prieta disaster, and thousands were displaced and homeless afterward. These events are real — they happen, they will happen again, and ordinary people like you and me will be affected. I am glad to help rekindle awareness, and maybe some people will be spurred to create or re-energize their disaster plans.

But I also want to take time out this week to remember the many people who lost their lives that day. Many were just folks on their way home from work, something we all do routinely. Their loss is real. And the loss is still sudden, even over these 20 years.

Arturo Garcia, 1934-2009

2009-10-08T17:45:55Z

We learned recently that Arturo Garcia passed away earlier this year.

Mr. Garcia was Wells Fargo's first Hispanic Bank Manager. His longtime dream had been, he said, to become a banker and make his way up the corporate ladder to Officer. It happened when he was named Branch Manager in 1967.

After 34 years with Wells Fargo, Mr. Garcia retired and began compiling his life story. He had a deep interest in history and his own role in it — something we at Guided By History feel is absolutely central to properly understanding the past. We all are history, living it every day, with every act. Arturo Garcia understood that, and we are pleased to get a copy of his history, to get the story as he tells it.

It is sad to lose an old friend, but the service he provided to his community is as much his legacy as the dozens of family members who survive him.

Goodbye, Art. And thank you.

El Día de los Muertos

2009-10-06T00:15:51Z

Joycee Wong is Curator at Wells Fargo's San Francisco History Museum. (Her previous blog is here!) For Hispanic Heritage Month, Joycee reflects on the common sense we all have of celebrating family and life, whether we hail from Oaxaca or Hong Kong. (CR)

Recently, I went to the memorial park to pay respects to my dearest mom on the 4th anniversary of her death, lugging 2 large handle bags. In them were some flowers and vases, a thermos of tea and a freshly made scone, a camera (to capture the visit and share with out-of-town family later), a few old letters (to reminisce) and some tissues (for the inevitable tears). All this was my paraphernalia for a visitation to my mother's columbarium where her ashes are kept in a peaceful sanctuary.

I am reminded of the similarities between cultures when I saw a flyer a few days earlier about "Day of the Dead" celebrations that will take place this month among many Hispanic families.

If you've never heard of it, "Day of the Dead" (El Día de los Muertos) isn't some macabre Halloween game, but a time-honored tradition going back almost 3000 years. This holiday focuses on gatherings of families and friends, for prayer and to remember friends and family who have died. Traditions include building private altars, making sugar skulls, displaying marigolds and serving the favorite foods and beverages of the departed. Everyone visits graves with these gifts.

As a Chinese-American, I grew up with light touches of traditions on the multitude of Chinese holidays and celebrations, including those honoring our deceased loved ones. Growing up in Hong Kong, I remember periodic excursions to the cemetery where my parents and sisters — saddled with armloads of food, flowers, and cleaning supplies — spent a few hours with my paternal grandmother who was buried there. Honoring the dead according to Chinese customs require certain rituals, which our family followed to some degree....

]]> Traditionally, the most significant holiday for acknowledging the dead is "Qing Ming" , held in the spring time. As a wee child (yes, wee , not Wii! ), I recall walking tiny footpaths between tombstones of varying sizes, wondering why some of them looked so weedy and neglected while others shone with brightness and beauty. My parents taught me that not everyone buried at the cemetery has the fortune of regular visitors coming to tend the gravesite.

Holding a small scrubbing brush in my tiny hand, I would take pauses from our scouring effort cleaning her tombstone to caress her tombstone, marveling at the cool feel of the marble and its whiteness. It wasn't until much later in my 30s that I actually learned the full range of the rituals to properly observe Qing Ming from a wonderful book that has taught me specifics of my own heritage: Good Luck Life.

This fascinating book details the whys and hows of the many quirky Chinese customs and helped to put into context those early childhood experiences of visiting grandmother's grave. The author explains the four different steps in observing Qing Ming according to Chinese customs:

"Tidy up": Clear away debris. My sisters and I were in charge of pulling the pesky weeds and scrubbing the tombstone with soap and water.
"Food and flower offerings": Flashback. Lovingly, my parents would replace the dead flowers from our last visit with fresh colorful blooms, and I seem to recall some citrus fruits, perhaps a few Chinese sweets, being placed on her gravesite. I had to laugh when I read in Good Luck Life how the author noticed some families feeding their dead relatives with their favorite dishes and spotting a whole all-American apple pie on a grave site during Qing Ming!
"Spirit World Offerings": Ritual packages may include red (good luck color) candles, incense sticks, otherworld spirit money, etc. Our family never observed this part of the tradition although occasionally, we may bring incense (and the requisite 3 sticks per person) for the last step in observing Qing Ming...
"Giving Respect": Lighting our incense sticks, each of us would take turns to bow 3 times in front of the tombstone to pay respect to my Dad's mother. Afterwards, our family would sit by the gravesite to enjoy some tea and snacks we brought to eat in the presence of my grandmother's spirit.

Flash forward 35 years. I'm in San Mateo, California and just finished arranging the fresh bouquets in front of my mother's niche, where her ashes rest. I've taken pictures to share with my Dad who lives in San Diego, and bowed three times in deep reverence to my departed mom. I am seated and sipping the tea and nibbling on a scone I've brought to "enjoy breakfast" with her, and remembering how these rituals are celebrated by others throughout the world.

How sweet it is to read about Hispanics having similar activities in tribute to deceased loved ones in their annual "Day of the Dead" traditions! Hispanic observation of El Día de los Muertos is even livelier, with vibrant flowers and extensive decorations and amazing altars or shrines that are created in the families' homes.

I am now committed to learning more about Hispanic customs to add another layer to my own observances of future Qing Ming celebrations, or next September when I commemorate the 5th year of my mother's death. She was an adventurous lady and always curious about other countries and cultures, and she even took Spanish language lessons for fun when we first moved to San Diego!

So I don't think my Mom would mind if I mix-and-match various rituals to honor her, although I wonder if she'd chuckle or frown if I decorate an altar to honor her with the popular Catrinas , one of the most popular figures of the "Day of the Dead" celebrations in Mexico. Many people believe that during this holiday, it is easier for the souls of the departed to visit the living...so perhaps I can invite her spirit to "visit" me and let me know if she approves or disapproves of the new twist to honoring her!

I can't help but feel very fortunate that I have these treasured times to remember and honor my mother (and other departed loved ones) so freely and easily in America. I wonder too if those early settlers coming out west in search of gold on their own, leaving family and friends behind — sometimes from countries far, far away — would feel the loneliness of their bodies buried here in the U.S., where their loved ones couldn't easily come to their grave site to observe these rituals in person.

Perhaps that's why the idea of creating an altar at home to honor those deceased bridges the gap between our memories of them and their spirit beyond this world.

Guia

2009-10-02T17:11:23Z

Picture this: It's 1886, you're a restaurant owner in Aguascalientes, Mexico, and you need a new refrigerator. (Yes, they had them! Not your Frigidaire or anything, but they had them.) You would especially like one of the latest, most efficient models, but can't find one anywhere. What do you do?

Wells Fargo has you covered.

We're currently celebrating Hispanic Heritage Month, and I found it the perfect time to share one of my favorite artifacts at our L.A. museum. We call it the Guia. The whole name is quite a mouthful: "The "Guide for the Department of Sales and Commissions of Wells Fargo: Where and How to Buy American-Manufactured Items." This Spanish-language guide was printed in 1886, and it's basically a guide Mexican consumers and business owners could use to purchase a variety of items from the U.S. Wells Fargo had many offices in Mexico and would ship all over the country. The company had guides like this handy for customers. Agents would have samples of products and prices, and they took orders.

The introduction to the guide states that gone are the days of "taking advantage of friends and acquaintances who travel" by asking them to get you so-and-so item during their visit abroad (I think many of us are occasionally guilty of this even today, though) or entrusting such orders to strangers.

Wells Fargo's Express was easier, faster and more reliable. You just placed your order at an office, and you could get American-made items delivered to you from hundreds of miles away!

The items offered in the Guia were ones that were difficult to find or not found at all in Mexican markets. Making it convenient for people to order all sorts of items certainly helped the development of modern commerce in Mexico.

This guide is definitely a fun "read." It has any kind of item you can think of: shoes, carriages, farming equipment, dentist tools, cookies, music boxes, dried coconut...you name it!

And yes, refrigerators.

Arturo Garcia, Numero Uno

2009-09-25T20:30:28Z

Arturo Garcia was a 20th century pioneer, the first Hispanic bank branch manager for Wells Fargo Bank.

Born into a family of farm laborers in Brawley, California and raised in the state's Central Valley , Garcia knew and understood his customers in the agricultural communities where he managed Wells Fargo's banking business. Garcia became manager of the San Joaquin banking store in 1967. He also managed Wells Fargo's banking stores in Clovis and Fresno, and hosted a local Spanish-language radio show promoting financial literacy.

Throughout his 34-year career with Wells Fargo, Garcia received numerous internal sales awards as a store manager. A business leader in his community as well as a banker, Garcia was also a founding member of the California Hispanic Chambers of Commerce and National Hispanic Chamber of Commerce.

Katherine Davalos Ortega

2009-09-23T19:19:52Z

It’s a long career path from bank teller to Treasurer of the United States .

Katherine Davalos Ortega was Treasurer of the United States during the administrations of Presidents Ronald Reagan and George Bush, (1983-1989) As Treasurer, Davalos Ortega’s signature appeared on millions of dollars of U.S. currency. But her first job in finance was as a teller at the community bank in her rural hometown of Tularosa, New Mexico .

While in high school, Davalos Ortega worked at Otero County State Bank to earn money for college. This bank, where the future Treasurer of the United States began her career, became a part of Wells Fargo in 1999. While in school, Davalos Ortega aspired to become a teacher, but she learned she likely would not be hired for a teaching position. In those years, prior to the huge movement for Civil Rights , routine discrimination plauged women and minorities. Davalos Ortega entered the accounting field instead, climbing steadily in accounting and financial services firms. In 1975 she became chief executive of Santa Ana State Bank, and the first woman bank president in California.

As her influence expanded, Davalos Ortega had become active in politics. She served on several federal commissions and advisory councils, and in 1983, was nominated as Treasurer by President Reagan. Davalos Ortega was the tenth woman and second Latina to hold the post. As Treasurer of the United States, Ortega oversaw production of coins and currency and the United States Savings Bond program. She also raised $40 million, through commemorative coin sales, to restore the Statue of Liberty and Ellis Island. Davalos Ortega gave the keynote speech at the 1984 Republican National Convention, the first woman of Hispanic descent to deliver a keynote at a national political convention.

Treasurer Davalos Ortega left her post, and Washington, in 1989. She returned to her family’s financial business in New Mexico, where she served on several corporate boards. In recognition of her lifetime achievements and rise from humble beginnings to the highest levels of public service, she received the Horatio Alger Award in 2002.

Treasurer Davalos Ortega acknowledged her heritage at her swearing-in in 1983. "And so," she said, "it is with a deep sense of honor and pride that I shall serve as our country's 38th Treasurer. And following the Hispanic tradition, I have chosen to have my name appear on our currency as Katherine Davalos Ortega. For in doing so, I will be honoring my father as well as my mother. Thank you."

Happy Hispanic Heritage Month!

2009-09-16T20:40:09Z

It's that time of year again! We haul out the decorations, start addressing cards to loved ones, plan get-togethers...Yes, it's Hispanic Heritage Month , one of my favorite times of the year.

These past couple years here at GBH, we've reflected on Salvadoran heritage, famous customers and a memorable team member. We got a well-timed visit from a norteño band. Hispanic business has certainly a part of Wells Fargo's success. Latino customers transact business, and Latino team members provide customer service.

Wells Fargo's Express network moved from east to Golden West via Panama. Wells Fargo had agents in Panama to assist pioneers in their journey to the Gold Rush. In January 1853, Henry Wells traveled by sea to San Francisco, to assess the business.

From Panama, he wrote, "I am alive & kicking but awful sore & some tired. I have found our Agents the very best men on the entire route — men of the highest standards & great energy."

In North America, Overland stagecoaches rolled through territories that had been northernmost Mexico only a few years earlier. Colorado House was opened in Old Town San Diego in 1852 and housed the Wells Fargo Express office. Jose Guadalupe Estudillo, scion of an old Californio family, became Wells Fargo Agent in 1870.

In Wells Fargo's early years, gold and other important business were carried by side-wheel steamships from the Columbia River basin to points in Latin America. The steamers called at Cabo San Lucas, Mazatlan and Acapulco, where Wells Fargo agents served the growing Pacific Coast communities.

Wells Fargo established a Mexican subsidiary in 1860, Wells Fargo y Compañía Express, S.A. (Sociedad Mexicana). Offices were opened in grocery and department stores, hotels, drug stores and real estate offices.

Wells Fargo's business in Mexico (pdf) grew with the expansion of railroads in the last half of the 19th century. Wells Fargo provided rapid delivery and was the only U.S. express company offering direct service. By the turn of the century, la Compañía had over 300 offices, and fully ninety-eight percent of employees were Mexican.

Wells Fargo's first General Agent in El Salvador was J.C. Ybarra (pdf) in 1913. He oversaw thirteen agents and their offices, five messengers and seven other workers. Ybarra was an eyewitness to Wells Fargo's role in the economic stability of that era. He wrote that he and his staff had the "honor of being employees of a Company which has enlarged, in the commercial history of the New World, the era of progress and prosperity." In Cuba, (pdf) Wells Fargo had regularly scheduled business via steamships since the late 1800s. Wells Fargo handled money orders and traveler's checks for Cubans and tourists, and expanded steamship services to various destinations from the island.

We all personally celebrate Hispanic Heritage Month because we Historians are keenly aware that Hispanics have been a critical part of Wells Fargo's presence since the very beginning.

The First National Bank on the Pacific Coast

2009-09-14T17:45:50Z

Here's an interesting question: What State had the first national bank charter on the Pacific Coast, and what city was it in?

While most people may think the first national bank was in California — and may guess San Francisco as the city — the first national bank on the Pacific Coast was actually chartered in Portland, Oregon. It preceded any California national bank by five years.

On July 4, 1865, a group of merchants and civic-minded Portlanders banded together and applied for a national bank charter under the name "First National Bank of Oregon." After months of waiting, the group found out that the Office of the Comptroller of the Currency (OCC) had modified their application with a name of "First National Bank of Portland." The OCC believed the "Oregon" name too general and that it might confuse creditors as to the bank's physical location. Within months, the bank had national bank notes with its name and 1553 charter number on-hand to circulate in the local community. (Remember that the first charter granted to a California institution was #1741 in 1870.)

First National Bank of Portland was the only national bank in Oregon until another was chartered in 1882. Even after competition blossomed, First National grew to be the largest bank in Oregon. It was known as a conservatively run bank, with regional correspondents in nearly all communities throughout the State.

In 1930, First National Bank of Portland became the cornerstone holding of A.P. Giannini's start at building an interstate banking network — Transamerica — long before others saw the need. With Giannini's support, First National Bank of Portland continued an amazing growth trend, through acquisitions and new branch openings, even during the depth of the Great Depression.

In 1981, the old "First National" freshened up its name as First Interstate Bank of Oregon, N.A., part of a uniform banking franchise that spanned eleven western states. Fifteen years later, First Interstate Bank of Oregon would cede its banking charter as part of FIB's merger with Wells Fargo.

Consequently, Wells Fargo has roots not only to the first national bank in California, but also the first national bank on the West Coast!