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By 1903, the company had assets of some 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.
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. purchased a lot on Vesey Street in New York City as the site for its stables.
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In 1890–91 the company constructed a new ten-story building by Edward H.
It was founded as a joint stock corporation by the merger of the express companies owned by Henry Wells (Wells & Company), William G.
Aspinwall, of the firm of Renwick, Aspinwall & Tucker, the successor to the architectural practice of the eminent James Renwick, Jr..
The building consolidated the two lots of the former buildings with a single address: 65 Broadway.
Fargo (Livingston, Fargo & Company), and John Warren Butterfield (Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company). 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 the Tribeca section of Manhattan.