The Pony Express
An agreement was made between Waddell, Russells, and Alexander Majors on December 28, 1854 and signed on January 1, 1855. Later, the Central Overland California and Pikes Peak Express Company was formed on November 19, 1859, with the hope of receiving a mail contract. Under charter from the Kansas legislature, the Pony Express(as the C.O.C. & P.P.E Company came to be know) began operations on April 3, 1860. Waddell supervised the business activities of the office and headquarters of the firm in Lexington, Missouri, and later Leavenworth, Kansas. The Pony Express would prove to be a failure, losing upwards of $1,000 a day. By October 1861, the Express was out of business due to the completion of the telegraph lines and the unwillingness of the national government to provide further funding.
Read more about this topic: William B. Waddell (Pony Express Founder)
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