Adams Express Company
 |
|
| Public | |
| Traded as | : ADX |
| Industry | Investment |
| Founded | 1854 |
| Founder | Alvin Adams |
| Headquarters | Baltimore, Maryland, U. S. |
|
Key people
|
Mark E. Stoeckle (CEO) James P. Haynie (Executive Vice President) |
| Website | www.adamsfunds.com |
Mark E. Stoeckle (CEO)
James P. Haynie
(President)
Adams Diversified Equity Fund, formerly Adams Express Company, is a publicly traded diversified equity fund. It was founded in 1854 and traces its roots to 19th-century freight and cargo transport business. The Adams Express Building was constructed in 1911 and Adams Express is one of the oldest companies listed on the (NYSE: ADX). It is one of only five companies that continues to operate as a closed-end fund since 1929. The Company has paid dividends continuously since 1935.
Adams Funds uses a conservative investment philosophy and its portfolio is managed with the expectation that it will generate solid returns with lower-than-market risk for long-term investors. Investments are made with an eye toward protecting investors’ original investments and generating dividends and capital gains that can be used as a source of income or reinvested to increase investor holdings in the Fund.
In 1839, Alvin Adams, a produce merchant ruined by the Panic of 1837, began carrying letters, small packages and valuables for patrons between Boston and Worcester, Massachusetts. He had at first a partner named Burke, who soon withdrew, and as Adams & Company, Adams rapidly extended his territory to New York City, Philadelphia and other eastern cities. By 1847, he had penetrated deeply into the South, and by 1850 he was shipping by rail and stagecoach to St. Louis.
Adams Express was used by abolitionist groups in the 1840s to delivery anti-slavery newspapers from northern publishers to southern states; in 1849, a Richmond, Virginia slave named Henry "Box" Brown shipped himself north to Philadelphia and freedom via Adams Express. In 1855, the company was reorganized as the Adams Express Company.
Meanwhile, a subsidiary concern, Adams & Company of California, had been organized in 1850 and spread its service all over the Pacific Coast under the management of Isaiah C. Woods,. Not being under Adams' personal management, Woods badly handled it, and it failed on February 23, 1855.
...
Wikipedia