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Welles was born in [[1855]] in Mystic, Connecticut and was educated in the schools of that city. In his youth he was employed by Captain T. C. Cobb of Cape Cod, Massachusetts, who operated a fleet of ice-harvesting ships. In the early 1870s, Welles was the purser of a ship delivering ice to the [[Pensacola Fish Company]], a leading fishing company in Pensacola. The owner,  Around [[E. E. Saunders1875]], was apparently so impressed by Welles that he offered to sell him a stake in the company. Welles returned to Massachusetts, where he married Captain Cobb's daughter, Caroline Brown Cobb, and borrowed money from him to purchase his stake in Saunders' company. Thereafter, he moved with his wifesouth, first to Key West, before settling in Pensacola around [[1878]], at which time Welles began working for Saundersthe [[Pensacola Fish Company]]. Around [[1883]] Welles, in partnership with [[E. E. Saunders reincorporated the company as ]], incorporated the [[E. E. Saunders Company]], with Welles acting as partner and manager. At the timeits height, the E. E. Saunders Company employed over one thousand men, operated ice and fishmeal manufacturing plants, and had an annual payroll exceeding $100,000.<ref>[http://www.stjohnshistoriccemetery.com/pensacolas_heritages/fishing.htm#t_e_welles Pensacola’s Heritage at St John’s Historic Cemetery]</ref>