STRICTLY BUSINESS: HENRY WELLS, BILL FARGO FOUND OLDEST BANK IN WEST

Who were Henry Wells and William G. Fargo?

Who were Wyatt Earp and Morgan Earp?

If you know the answers to the above questions, chances are you know the answer to the following question?

What is the oldest bank in the West?

Unless the word "bank" threw some doubts into the question, you realize by now that Wells Fargo & Company, which observes its 145th anniversary year in 1997, is the oldest bank West of the Mississippi River.

Wells Fargo was founded by Wells and Fargo on March 18, 1852, and opened its first office on July 13 of that year, providing transportation, banking and financial services.

Wells actually founded an express company a few years earlier, with services in New York. Fargo, an employee of Wells & Company, became a partner. In 1852, Wells, Fargo and other investors formed the new Wells Fargo Company.

Wells Fargo opened as a transcontinental express company that carried goods across the country, from New York to San Francisco, becoming the first express company to go west of Buffalo.

Now, Wells Fargo provides banking and financial services to more than 10 million households in 10 western states.

Wells Fargo soon established itself as a dependable shipper of gold and silver from the gold mines of the California gold fields. The company also carried passengers, freight and mail.

Earps 'shotgun' riders

This is where Wyatt and Morgan Earp come in. These two famous lawmen/gunmen of the West often rode shotgun for Wells Fargo, helping the 2,200-pound stagecoaches make their way along thousands of miles of roads from Missouri to California, Montana to Mexico and other routes.

The Concord Stagecoach was a masterpiece of American workmanship and enduring symbol of Wells Fargo "coming through" for its customers.

Mark Twain immortalized the Wells Fargo stage coach, calling in "a cradle on wheels."

Wells Fargo's familiar wooden treasure boxes attracted many outlaws -- including the noted and dreaded Black Bart -- to rob stagecoaches.

Women played a big role in Well Fargo's success, serving in the company's offices as managers and/or agents, who handled money, gold, certificates of deposit and merchandise for customers. As many as 160 women served as agents during the early years of the company.

When the transcontinental rail line was completed in 1869, the railroad took most of the express business, but Wells Fargo continued its long-distance runs until it eventually merged with two other major express companies to form the American Railway Express Co.

45-mile home stations

Stagecoach travel was not a "cushy" way to travel. On long-distance hauls, stage passengers paused for meals, featuring prairie chicken pie, at "home stations," every 45 miles of the journey.

An 1877 newspaper offered tips for stagecoach travelers: Expect annoyances, discomfort and some hardship, don't dawdle at the home-station washbasins, don't spit on the leeward side of the coach, and don't imagine for a moment that you are going on a picnic.

A Wells Fargo Nevada National Bank was formed in 1905. It became Wells Fargo Bank in 1918, but the company had offered bank services since it was first founded.

Wells Fargo was among the "Top 10" largest U.S. commercial banks as of Dec. 31, 1995, according to American Banker. Wells Fargo serves more than 10 million households in 10 western state, with assets of more than $49 billion.

As of Dec. 31, 1995, Wells Fargo was in ninth position but could be up a notch now following the acquisition of Chase Manhattan (formerly No. 5 on the list) by Chemical Banking Corp. of New York, formerly in the No. 3 position.

The acquisition, which was completed in March 1996, shoved Chemical Banking Corp. into the No. 1 position in the United States and into the "Top 30" in the world.

Another acquisition during the past year has shoved NationsBank up a notch or two from the 1996 list. NationsBank was sixth on the list at that time but acquired Missouri's largest bancorporation -- Boatman's -- to move into fourth position nationally.

Another giant merger

Another giant merger in 1996 provided a new leader on the list of World's Largest Banking Companies. In April 1996, Mitsubishi Bank (previously No. 7 on the world list, merged with Bank of Tokyo, (previously 30th on the list), to form the Bank of Tokyo/Mitsubishi Ltd., which is now the largest bank in the world, with assets of more than $700 billion, moving past former world leader Deutsche Bank AG, of Frankfurt, Germany, with assets of more than $502 billion.

Mergers, acquisitions and failures have eliminated more than 4,500 banks since 1935, according to records compiled by the Federal Deposit Insurance Corp., leaving a total of 11,470 financial institutions in the United States, on the 1996 list that includes all FDIC-insured commercial and savings banks, including savings and loan institutions.

Of that list, about 4,000 are state and/or national banks.

Over the next five years consolidations are expected to reduce those figures even more.

Today, there are 2,763 national banks and 1,024 state banks in the United States.

Gambling on the river

The Players International Gambling Casino at Metropolis is doing something right.

The company's gambling riverboat was the only one of 10 operations in Illinois with increases in attendance and revenues last month, from the previous month.

The state's latest gaming commission's monthly report revealed that Players admissions were up slightly, 0.6 percent with revenues increasing 1.4 percent in June.

That's better than the other nine casinos in the state. All reported decreases in both categories.

State statistics show a decrease in overall revenues, of 12.4 percent, $81.2 million, compared to $92 million the previous month, and down 12.9 percent from a year ago when revenues were reported at $93.3 million.

Visitors to the state's 10 casinos were down 6 percent from a year ago and last month. A total of 1.9 million admissions were reported in June 1996, compared to 2.1 million in May and 2.1 million during June 1996.

The Grand Victoria of Elgin topped all casinos in June, with 298,888 admissions and $18.7 million in earnings. But both of these totals were down from last May and June 1996.

Players reported $6.3 million in revenues, up from the $6.2 million of May and 174,497 visitors, up from the 173,443 visitors of May.

June attendance and revenue for Illinois casinos:

-- Grand Victoria, Elgin,: 296,000, $18.7 million.

-- Harrah's North Star, Joliet: 241,931, $11.8 million.

-- Empress Casino, Joliet: 264,000, $10.0 million.

-- Hollywood Casino, Aurora: 284,300, $11.5 million.

-- Casino Queen, East St. Louis: 277,700, $8.8 million.

-- Par-A-Dice Riverboat, E. Peoria: 208,000, $7.6 million.

-- Alton Belle, Alton: 158,500, $5.1 million.

-- Players Riverboat, Metropolis: 174,500, $6.3 million.

-- Casino Rock Island: 53,600, $1.2 million.

-- Silver Eagle Casino, East Dubuque: 6,000, $67,000.

Illinois totals: 1,966,113 visitors; $81,232,000.

Illinois gambling riverboats are still "floating." All 10 boats are required to cruise in two-hour cycles.

Missouri boats are no longer required to cruise.

Total Missouri casino winnings in May were $64.8 million, for 11 casino operations.

B. Ray Owen is business editor for the Southeast Missourian.