Ashbel H. Barney
President of Wells Fargo & Company
In office
1869–1870
Preceded byLouis McLane
Succeeded byWilliam Fargo
Personal details
Born
Ashbel Holmes Barney

(1816-09-02)September 2, 1816
Adams, New York
DiedDecember 27, 1886(1886-12-27) (aged 70)
Manhattan, New York
Spouse
Susan H. Tracy
​
​
(m. 1846; died 1882)​
RelationsDanford N. Barney (brother)
Children3, including Charles
EducationBelleville Academy

Ashbel Holmes Barney (September 2, 1816 – December 27, 1886) was an American banker and expressman who served as president of Wells Fargo & Company in 1869–1870.

Early life

Barney was born on September 2, 1816, at Adams, New York, in Jefferson County. He was the younger son of John Barney and Sarah (née Grow) Barney. His father was a farmer in Jefferson County, New York, when Ashbel and his older brother Danford were born. He was a descendant of Jacob Barney of Bradenham, Buckinghamshire, England, who settled in Salem, Massachusetts, in 1630.[1]

He was educated at Belleville Academy in his native county before going to Cleveland, Ohio, in 1842 with his brother Danford, where they engaged in business as forwarding and commission merchants under the name Danford N. Barney & Company.[1]

Career

Barney remained in Cleveland when his brother Danford moved to Buffalo, New York, in 1849 and was elected to succeed Edwin Barber Morgan as president of Wells Fargo & Company in 1853, serving until 1866. Morgan had resigned the presidency upon his election to the U.S. House of Representatives. In 1857, Ashbel moved to New York City, where Danford had resided the previous year.

On November 17, 1859, Ashbel Barney was elected a director of Wells Fargo & Company in place of James McKay, who had resigned.[2] Barney served as a director of the New York Elevated Railroad (founded by his brother and under the presidency of Cyrus West Field),[3] and served as president, at various times, of Wells Fargo, the United States Express Company, and the Northern Pacific Railroad.[4] He was vice president of Wells Fargo from the beginning of 1867[5] until 1869, when he succeeded Louis McLane as president.[6] During his presidency, Lloyd Tevis acquired a controlling interest in Wells Fargo. Barney stepped down as president of Wells Fargo in 1870 and was succeeded by William G. Fargo that year and by Tevis in 1872.[7]

Later life

After Frederick Billings was forced to resign the presidency of the Northern Pacific Railroad on June 9, 1881, Barney was chosen to briefly serve as interim caretaker of the railroad from June 19 to September 15, when Henry Villard was elected president by the stockholders and Barney was elected a director.[8] After 1881, Barney practically retired from business. He retired from the board of directors of Wells Fargo & Company in 1883, with Colonel Charles Frederick Crocker elected in his place.[9]

Personal life

In 1846, while at Cleveland, Barney was married to Susan Hester Tracy (1818–1882), the daughter of Gardiner Tracy, an abolitionist and publisher of the Lansingburgh Gazette, and Catherine (née Lansing) Tracy of Utica, New York. Their children were:

Barney died at his residence, 101 East 38th Street, in New York City, on December 27, 1886.[12][13] His funeral was held at his home and conducted by the Rev. Dr. Charles H. Parkhurst of the Madison Square Presbyterian Church. The pall bearers were Thomas Collier Platt, Grosvenor Lowrey, Samuel N. Hoyt, James C. Fargo (president of American Express), Hiram Barney, and George F. Crane. Also present were Barney's son and daughter with Morris K. Jesup, Theodore Wood, Salem Howe Wales, Darius Ogden Mills, Benjamin Brewster, Parker Handy, Dr. T. Gaillard Thomas, Peter F. Baker, Duncan Cryden, Charles Atterbury, Hugh Murdock, Louis Murdock, James H. Thompson, Charles H. Adams, George C. Magoun, Russell Sturgis (son-in-law of Danford N. Barney), Appleton Sturgis (son of Russell Sturgis), A. Bancroft, and W.P. Seymour. Interment was at Woodlawn Cemetery.[14]

References

  1. 1 2 Preston, Eugene Dimon (1990). Genealogy of the Barney family in America. Barney Family Historical Association. p. 804. Retrieved 28 July 2020.
  2. ↑ Noel M. Loomis, Wells Fargo, p. 145. New York: Clarkson N. Potter, Inc., 1968.
  3. ↑ "The New-York Elevated.; Annual Meeting of the Company a Report Which Consists of Very Glittering Generalities". The New York Times. 14 January 1879. Retrieved 28 July 2020.
  4. ↑ "Monthly Record of Current Events", Harper's New Monthly Magazine, European edition, March 1887, p. 651.
  5. ↑ Loomis, p. 197.
  6. ↑ Loomis, pp. 205, 212.
  7. ↑ Loomis, pp. 215, 219.
  8. ↑ "The Northern Pacific Railroad; the Annual Election--the Condition and Purposes of the Road". The New York Times. 16 September 1881. Retrieved 28 July 2020.
  9. ↑ Loomis, p. 254.
  10. ↑ Cleveland Amory, Who Killed Society?, pp. 502-503. New York: Harper & Brothers, 1960.
  11. ↑ "BARNEY--Helen T". New-York Daily Tribune. New York, NY. 16 February 1897. p. 7. BARNEY--Helen T; daughter of the late Susan T. and A. H. Barney
  12. ↑ "Death of Ashbel H. Barney". The New York Times. 28 December 1886. Retrieved 28 July 2020. Ashbel H. Barney, well known as an express and railroad manager, died at his residence, No. 101 East Thirty-eighth-street, yesterday morning.
  13. ↑ "Monthly Record of Current Events", Harper's New Monthly Magazine, European edition, March 1887, p. 651.
  14. ↑ "Ashbel H. Barney Buried". The New York Times. 31 December 1886. Retrieved 28 July 2020.
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