The challenging task of disposing of the Overland Stage lines by Wells, Fargo & Co. at the close of the 1860s marked a pivotal moment in American transportation history. This intricate account, originally penned by William Daugherty for the Reno Evening Gazette in 1891, unveils the dramatic transition from the era of magnificent stagecoaches to the burgeoning age of transcontinental railroads, illustrating not only a shift in overland locomotion but also the complex characters who navigated such periods of monumental change.
Wells, Fargo & Co., a name synonymous with reliability and reach across the American West, found itself at a crossroads. The completion of the transcontinental railroad in 1869 signaled the inevitable decline of their expansive stagecoach operations, compelling the company to systematically dismantle and sell off its valuable assets. Yet, within this process of dissolution, a particular segment – the vibrant Montana stage line – presented a unique opportunity for both corporate strategy and personal ambition.
The Era of Stagecoach Dominance and Decline
In the early 1860s, Wells Fargo & Co. made a strategic acquisition, purchasing the vast Overland Stage line from the legendary Ben Holladay. For years, this network served as a vital artery connecting distant territories, carrying mail, passengers, and precious cargo across rugged landscapes. However, the relentless march of progress, embodied by the advancing railway, began to render these horse-drawn giants obsolete. By the summer of 1868, as the transcontinental railroad neared completion, Wells Fargo dispatched a trusted, aristocratic agent from New York City. His mission was critical: to assess the company’s immense stage property and devise the most effective plans for its disposal as its usefulness was progressively eroded by the railroad’s expansion.
The agent’s purview initially spanned the lines stretching from Wadsworth to Salt Lake City and onward to the Platte River, including a crucial sideline that extended into Montana. While much of the stage network faced an immediate threat from the railroad, the Montana line stood apart. It was far enough removed from the primary railway routes that its bustling business was secure, promising a considerable continuation of prosperity for years to come. This distinction would prove central to the unfolding drama.
The Agent’s Calculated Gambit
The New York agent, a man of considerable reserve and autocratic demeanor, quickly demonstrated his shrewdness. He orchestrated several difficult sales, often at a sacrifice, to various smaller companies. These purchasers typically utilized the acquired segments to establish feeder lines connecting burgeoning mining towns to the newly accessible railroad hubs, frequently using unexpired mail contracts as a form of payment. The Wells Fargo & Co. Board of Directors, based in the East, were thoroughly pleased with his efforts, granting him plenary powers to finalize sales for all their remaining lines. This expanded authority, however, also opened the door to a deeply personal and profitable scheme.
The agent was not slow in recognizing the exceptional value of the Montana line. From the outset of his expanded administration, he laid plans to acquire this lucrative property for himself. His initial move was deceptively simple but highly effective: he systematically exchanged the finest stock and newest coaches from other parts of the Wells Fargo network for older, worn equipment on the Montana line. This deliberate upgrade transformed the Montana operation into the best-equipped segment of their entire extensive system. With the line primed, he then needed a willing accomplice, a
