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     <TITLE>Form S-8</TITLE>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>As
filed with the Securities and Exchange Commission on April 27, 2005.</FONT></TD></TR>
<TR VALIGN=TOP>
<TD ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration Statement No. 333-&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
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<TD ALIGN=CENTER><HR ALIGN="Left" WIDTH="100%" SIZE="3" COLOR="Gray"></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>UNITED STATES <BR>SECURITIES AND EXCHANGE COMMISSION<BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">Washington, DC 20549 <BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">_________________________</FONT></TD></TR>
<TR VALIGN=TOP><TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;</FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>FORM S-8</B> <BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>REGISTRATION STATEMENT <BR>UNDER <BR>THE SECURITIES ACT OF 1933 <BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">_________________________</FONT></TD></TR>
<TR VALIGN=TOP><TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;</FONT></TD></TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>The Adams Express Company </B><BR> </FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(Exact name of registrant as specified in its charter)</B> </FONT></TD></TR>
<TR VALIGN=TOP><TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4">&nbsp;</FONT></TD></TR>
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<TD ALIGN=CENTER WIDTH=42%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Maryland </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>(State or Other Jurisdiction of<BR>Incorporation or organization)</B> </FONT> </TD>
<TD ALIGN=CENTER WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
<TD ALIGN=CENTER WIDTH=42%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">13-4912740 </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>(I.R.S. Employer <BR>Identification Number)</B> </FONT> </TD>
</TR>
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<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>Seven St. Paul Street<BR>
Suite 1140<BR>Baltimore, Maryland </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>(Address of Principal<BR>Executive Offices)</B> </FONT> </TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><BR><BR>21202 </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>(Zip Code)</B> </FONT> </TD>
</TR>
<TR VALIGN=TOP><TD ALIGN="Center" COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">_________________________<BR><BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>The Adams Express Company<BR>
2005 Equity Incentive Compensation Plan</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(Full title of the plan)</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">_________________________<BR><BR></FONT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">LAWRENCE L. HOOPER, JR. <BR>VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY<BR>
The Adams Express Company <BR>Seven St. Paul Street <BR>Suite 1140 <BR>Baltimore, Maryland 21202 </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>(Name and address of agent for service)</B> </FONT></TD>
</TR>
<TR VALIGN=TOP><TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;</FONT></TD></TR>
<TR VALIGN=TOP><TD ALIGN="Center" COLSPAN="3"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(410) 752-5900 </FONT>
<BR><FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>(Telephone number, including area code, of agent for service)</B> </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">_________________________</FONT></TD>
</TR>
<TR VALIGN=TOP><TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="1">&nbsp;</FONT></TD></TR>
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     <TD COLSPAN="5" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>CALCULATION OF REGISTRATION FEE</B> </FONT> </TD></TR><TR>
     <TD COLSPAN=5><HR SIZE="3" COLOR="Gray"></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>Title of Securities<BR>to be registered</B> </FONT></TD>
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>Amount<BR>to be<BR>registered (1)</B> </FONT></TD>
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>Proposed maximum<BR>offering price<BR>per share (2)</B> </FONT></TD>
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>Proposed maximum<BR>aggregate<BR>offering price (2)</B> </FONT></TD>
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1"><B>Amount of<BR>registration<BR>fee</B> </FONT></TD></TR>
<TR>
     <TD COLSPAN=5><HR SIZE=1 COLOR="Gray"></TD></TR>
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     <TD WIDTH=32% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock, par value $1.00 per share</FONT></TD>
     <TD WIDTH=16% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3,413,131 shares</FONT></TD>
     <TD WIDTH=19% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$12.59</FONT></TD>
     <TD WIDTH=22% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$42,971,320</FONT></TD>
     <TD WIDTH=11% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$5,058</FONT></TD></TR>
<TR>
     <TD COLSPAN=5><HR SIZE=3 COLOR="Gray"></TD></TR>
<TR>
     <TD COLSPAN=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)&nbsp;&nbsp;&nbsp;
          The shares of Common Stock set forth in the Calculation of Registration Fee
          table and which may be offered pursuant to this registration statement include,
          pursuant to Rule 416 under the Securities Act of 1933, as amended (the
          &#147;Securities Act&#148;), such additional number of shares of the
          Registrant&#146;s Common Stock as may become issuable as a result of any stock
          splits, stock dividends or similar events. </FONT></TD></TR>
<TR>
     <TD COLSPAN=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)&nbsp;&nbsp;&nbsp;
          Estimated solely for the purpose of calculating the registration fee pursuant to
          Rule 457(h) under the Securities Act, based on the average of the high and low
          trading prices of the Common Stock as reported on the New York Stock Exchange on
          April 22, 2005 of $12.59. </FONT></TD></TR>
<TR>
     <TD COLSPAN="5" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">_________________________</FONT></TD></TR>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT </FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Incorporation of Documents by Reference.</I> </FONT> </H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents, which are on file (File No. 811-00248) with the Securities and
Exchange Commission (the &#147;SEC&#148;), are incorporated herein by reference and made a
part hereof: </FONT></P>

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                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Annual Report on Form N-CSR of The Adams Express Company (the
                    &#147;Company&#148;) for the year ended December 31, 2004; </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    The description of the Company&#146;s Common Stock, par value $1.00 per share,
                    which is incorporated by reference to Exhibit A to the Company&#146;s
                    Registration Statement on Form 8-A as filed with the SEC on November&nbsp;14,
                    1986, as updated in Amendment No.&nbsp;16 to the Company&#146;s Registration
                    Statement on Form N-2 as filed with the SEC on July&nbsp;29, 1993, including any
                    amendment or report filed for the purpose of updating such description. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment which
indicates that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated herein by reference
and be a part hereof from the date of filing of such documents. Any statement contained in
a document incorporated or deemed to be incorporated herein by reference shall be deemed
to be modified or superseded for purposes of this registration statement to the extent
that a statement contained herein or in any other subsequently filed document which also
is or is deemed to be incorporated by reference herein modifies or supersedes that
statement. Any such statement so modified or superseded shall not constitute a part of
this registration statement, except as so modified or superseded. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Description of Securities.</I> </FONT> </H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Item is not applicable.</FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Interests of Named Experts and Counsel.</I> </FONT> </H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lawrence
L. Hooper, Jr., Esq., who has passed upon the legality of any newly issued shares of the
Company&#146;s Common Stock covered by this Registration Statement, is Vice President,
General Counsel and Secretary of the Company. Lawrence L. Hooper, Jr., Esq. is eligible to
receive awards under the Company&#146;s 2005 Equity Incentive Compensation Plan and owns,
or has the right to acquire, a number of shares of the Company&#146;s Common Stock which
represents less than 1% of the total outstanding shares of the Company&#146;s Common
Stock. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II &#150; 1 </FONT></P>


<HR SIZE="1">
<PAGE>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Indemnification of Directors and Officers.</I> </FONT> </H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Maryland
General Corporation Law (the &#147;MGCL&#148;) permits a Maryland corporation to include
in its charter a provision limiting the liability of its directors and officers to the
corporation and its stockholders for money damages except for liability resulting from
(a)&nbsp;actual receipt of an improper benefit or profit in money, property or services or
(b)&nbsp;active and deliberate dishonesty established by a final judgment as being
material to the cause of action. Article ELEVENTH of the Articles of Incorporation of the
Company, as amended (the &#147;Charter&#148;), contains such a provision which eliminates
such liability to the fullest extent permitted by applicable law. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article
TWELFTH of the Charter and Article 5 of the By-Laws of the Company, as amended (the
&#147;By-Laws&#148;), generally obligate the Company, to the fullest extent permitted by
applicable law, including the MGCL and the Investment Company Act of 1940, as amended, to
indemnify and pay or reimburse expenses incurred by any person who was or is involved in
any manner, or is threatened to made so involved, in any proceeding by reason of the fact
that such person (a)&nbsp;is or was a director or officer, or, at the option of the Board
of Directors in any particular case, an employee or agent of the Company or
(b)&nbsp;serves or served at the request of the Company any other enterprise as a
director, officer, partner or trustee, or, at the option of the Board of Directors in any
particular case, an employee or agent. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
MGCL requires a corporation (unless its charter provides otherwise, which the Charter does
not) to indemnify a director or officer who has been successful, on the merits or
otherwise, in the defense of any proceeding to which he or she is made a party by reason
of his or her service in that capacity. The MGCL permits a corporation to indemnify its
present and former directors and officers, among others, against judgments, penalties,
fines, settlements and reasonable expenses actually incurred by them in connection with
any proceeding to which they may be made a party by reason of their service in those or
other capacities unless it is established that (a)&nbsp;the act or omission of the
director or officer was material to the matter giving rise to the proceeding and
(i)&nbsp;was committed in bad faith or (ii)&nbsp;was the result of active and deliberate
dishonesty, (b)&nbsp;the director or officer actually received an improper personal
benefit in money, property or services or (c)&nbsp;in the case of any criminal proceeding,
the director or officer had reasonable cause to believe that the act or omission was
unlawful. However, under the MGCL, a Maryland corporation may not indemnify for an adverse
judgment in a suit by or in the right of the corporation or for a judgment of liability on
the basis that personal benefit was improperly received, unless in either case a court
orders indemnification and then only for expenses. In addition, the MGCL permits a
corporation to advance reasonable expenses to a director or officer upon the
corporation&#146;s receipt of (a)&nbsp;a written affirmation by the director or officer of
his or her good faith belief that he or she has met the standard of conduct necessary for
indemnification by the corporation and (b)&nbsp;a written undertaking by him or her or on
his or her behalf to repay the amount paid or reimbursed by the corporation if it shall
ultimately be determined that the standard of conduct was not met. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&#146;s directors and officers are insured against certain liabilities for actions
taken in such capacities. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II &#150; 2 </FONT></P>


<HR SIZE="1">
<PAGE>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Exemption from Registration Claimed.</I> </FONT> </H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Item is not applicable.</FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Exhibits.</I> </FONT> </H1>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4-a  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Articles of Incorporation of the Company, as amended.</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4-b  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> By-Laws of the Company, as amended.</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4-c  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> The
Adams Express Company 2005 Equity Incentive Compensation Plan, included as Appendix A to
the Company&#146;s Proxy Statement for its 2005 Annual Meeting of Stockholders, is hereby
incorporated by reference.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Opinion of Lawrence L. Hooper, Jr.
as to the legality of any newly issued shares of
                         Common Stock of the Company covered by this registration statement.</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23-a  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Consent of PricewaterhouseCoopers LLP,
 an independent registered public accounting
firm. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23-b </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Consent of Chadbourne &amp; Parke LLP.</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23-c  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Consent of Lawrence L. Hooper, Jr.,
contained in his opinion filed as Exhibit 5 to
                         this registration statement.</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=8%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24  </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#151;  </FONT></TD>
<TD WIDTH=82%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Powers of Attorney
authorizing certain persons to sign this registration statement
on behalf of certain directors and officers of the Company. </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Item 9. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Undertakings.</I> </FONT> </H1>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A.&nbsp;&nbsp;&nbsp;&nbsp;
          The Company hereby undertakes: </FONT></P>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=8%></TD>
               <TD WIDTH=92%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
                &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;
               To file, during any period in which offers or sales are being made, a
               post-effective amendment to this registration statement: (i)&nbsp;to include any
               prospectus required by Section 10(a)(3) of the Securities Act; (ii)&nbsp;to
               reflect in the prospectus any facts or events arising after the effective date
               of this registration statement (or the most recent post-effective amendment
               thereof) which, individually or in the aggregate, represent a fundamental change
               in the information set forth in this registration statement; and (iii)&nbsp;to
               include any material information with respect to the plan of distribution not
               previously disclosed in this registration statement or any material change to
               such information in this registration statement; provided, however, that clauses
               (i) and (ii) do not apply if the information required to be included in a
               post-effective amendment by those clauses is contained in periodic reports filed
               with or furnished to the Commission by the Company pursuant to Section 13 or
               15(d) of the Exchange Act that are incorporated by reference in this
               registration statement. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II &#150; 3 </FONT></P>


<HR SIZE="1">
<PAGE>



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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=8%></TD>
               <TD WIDTH=92%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;
               That, for the purpose of determining any liability under the Securities Act,
               each such post-effective amendment shall be deemed to be a new registration
               statement relating to the securities offered therein, and the offering of such
               securities at that time shall be deemed to be the initial <I>bona</I>
               <I>fide</I> offering thereof. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=8%></TD>
               <TD WIDTH=92%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;
               To remove from registration by means of a post-effective amendment any of the
               securities being registered which remain unsold at the termination of the
               offering. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=8%></TD>
               <TD WIDTH=92%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;
               That, for purposes of determining any liability under the Securities Act, each
               filing of the Company&#146;s annual report pursuant to Section 13(a) or 15(d) of
               the Exchange Act that is incorporated by reference in this registration
               statement shall be deemed to be a new registration statement relating to the
               securities offered therein, and the offering of such securities at that time
               shall be deemed to be the initial <I>bona</I> <I>fide</I> offering thereof. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>B.&nbsp;&nbsp;&nbsp;&nbsp;
          Insofar as indemnification for liabilities arising under the Securities Act may
          be permitted to directors, officers and controlling persons of the Company
          pursuant to the foregoing provisions, or otherwise, the Company has been advised
          that in the opinion of the Commission such indemnification is against public
          policy as expressed in the Securities Act and is, therefore, unenforceable. In
          the event that a claim for indemnification against such liabilities (other than
          the payment by the Company of expenses incurred or paid by a director, officer
          or controlling person of the Company in the successful defense of any action,
          suit or proceeding) is asserted by such director, officer or controlling person
          in connection with the securities being registered, the Company will, unless in
          the opinion of its counsel the matter has been settled by controlling precedent,
          submit to a court of appropriate jurisdiction the question whether such
          indemnification by it is against public policy as expressed in the Securities
          Act and will be governed by the final adjudication of such issue. </FONT></P>

<BR><BR><BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II &#150; 4 </FONT></P>


<HR SIZE="1">
<PAGE>



<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Baltimore, State of Maryland on the
27th day of April, 2005. </FONT></P>

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<TR VALIGN=TOP>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="Left" COLSPAN="2"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>THE ADAMS EXPRESS COMPANY</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER" WIDTH="46%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By</FONT></TD>
<TD ALIGN="LEFT" WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/ LAWRENCE L. HOOPER, JR.</FONT><BR>
<HR SIZE="1" WIDTH="85%" ALIGN="Left" COLOR="Gray"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Lawrence L. Hooper, Jr.)<BR></FONT></TD>
</TR></TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been
signed on the 27th day of April, 2005 by the following
persons in the capacities indicated: </FONT></P>

<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN=TOP>
<TD ALIGN="CENTER" WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT" WIDTH="50%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Signature</U> </FONT> </TD>
<TD ALIGN="LEFT" WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Title</U> </FONT> <BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ENRIQUE R. ARAC*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PHYLLIS O. BONANNO*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DANIEL E. EMERSON*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>THOMAS H. LENAGH*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>W.D. MACCALLAN*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>KATHLEEN T. MCGAHRAN*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DOUGLAS G. OBER*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chairman of the Board, Chief Executive Officer
(principal executive officer) and a Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>JOHN J. ROBERTS*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUSAN C. SCHWAB*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ROBERT J.M. WILSON*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MAUREEN A. JONES*</FONT></TD>
<TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Vice President,
Chief Financial Officer and Treasurer (principal financial and accounting officer)</FONT><BR><BR></TD>
</TR>
</TABLE>

<TABLE WIDTH=100% CELLPADDING="0" CELLSPACING="0">
<TR VALIGN=TOP>
<TD ALIGN="LEFT" WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* By</FONT></TD>
<TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/ LAWRENCE L. HOOPER, JR. </FONT><BR>
<HR SIZE="1" WIDTH="45%" ALIGN="Left" COLOR="Gray"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Lawrence L.
Hooper, Jr., Attorney-in-fact)**</FONT><BR><BR></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>**&nbsp;&nbsp;By authority of the powers of
attorney filed herewith. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>II &#150; 5 </FONT></P>


<HR SIZE="1">
<PAGE>




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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT INDEX </FONT></H1>

<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN=TOP>
<TD ALIGN="Center" COLSPAN="2"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Exhibit</B><BR><U><B>Number</B></U> </FONT> <BR><BR></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;<BR><U><B>Page</B></U> </FONT><BR><BR></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN="LEFT" WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="LEFT" WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4-a</FONT></TD>
<TD ALIGN="LEFT" WIDTH="74%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Articles of Incorporation of the Company, as amended.
</FONT><BR><BR></TD>
<TD ALIGN="LEFT" WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4-b</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By-Laws of the Company, as amended.
</FONT><BR><BR></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion of Lawrence L. Hooper, Jr. as to the
legality of any newly issued shares of Common Stock of the Company covered by this registration statement.
</FONT><BR><BR></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23-a</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of PricewaterhouseCoopers LLP,
an independent registered public accounting firm.
</FONT><BR><BR></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23-b</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of Chadbourne &amp; Parke LLP.
</FONT><BR><BR></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23-c</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of Lawrence L. Hooper, Jr.,
contained in its opinion filed as Exhibit 5 to this registration statement.
</FONT><BR><BR></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Powers of Attorney authorizing certain
persons to sign this registration statement on behalf of certain directors and officers of the Company.
</FONT><BR><BR></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<BR><BR><BR>


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[{"type": "S-8", "sequence": "1", "filename": "adamss80405.htm", "secsgml_size_bytes": 41562}]
{"company-data": {"conformed-name": "ADAMS EXPRESS CO", "cik": "0000002230", "irs-number": "134912740", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-124365", "film-number": "05776852"}, "business-address": {"street1": "SEVEN ST PAUL ST STE 1140", "city": "BALTIMORE", "state": "MD", "zip": "21202", "phone": "4107525900"}, "mail-address": {"street1": "7 ST PAUL STREET SUITE 1140", "city": "BALTIMORE", "state": "MD", "zip": "21202"}}
Form S-8
As
filed with the Securities and Exchange Commission on April 27, 2005.
Registration Statement No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
_________________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
_________________________
The Adams Express Company
(Exact name of registrant as specified in its charter)
Maryland
(State or Other Jurisdiction of
Incorporation or organization)
13-4912740
(I.R.S. Employer
Identification Number)
Seven St. Paul Street
Suite 1140
Baltimore, Maryland
(Address of Principal
Executive Offices)
21202
(Zip Code)
_________________________
The Adams Express Company
2005 Equity Incentive Compensation Plan
(Full title of the plan)
_________________________
LAWRENCE L. HOOPER, JR.
VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY
The Adams Express Company
Seven St. Paul Street
Suite 1140
Baltimore, Maryland 21202
(Name and address of agent for service)
(410) 752-5900
(Telephone number, including area code, of agent for service)
_________________________
CALCULATION OF REGISTRATION FEE
Title of Securities
to be registered
Amount
to be
registered (1)
Proposed maximum
offering price
per share (2)
Proposed maximum
aggregate
offering price (2)
Amount of
registration
fee
Common Stock, par value $1.00 per share
3,413,131 shares
$12.59
$42,971,320
$5,058
(1)   
          The shares of Common Stock set forth in the Calculation of Registration Fee
          table and which may be offered pursuant to this registration statement include,
          pursuant to Rule 416 under the Securities Act of 1933, as amended (the
          "Securities Act"), such additional number of shares of the
          Registrant's Common Stock as may become issuable as a result of any stock
          splits, stock dividends or similar events.
(2)   
          Estimated solely for the purpose of calculating the registration fee pursuant to
          Rule 457(h) under the Securities Act, based on the average of the high and low
          trading prices of the Common Stock as reported on the New York Stock Exchange on
          April 22, 2005 of $12.59.
_________________________
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The
following documents, which are on file (File No. 811-00248) with the Securities and
Exchange Commission (the "SEC"), are incorporated herein by reference and made a
part hereof:
(a)
Annual Report on Form N-CSR of The Adams Express Company (the
                    "Company") for the year ended December 31, 2004;
(b)
The description of the Company's Common Stock, par value $1.00 per share,
                    which is incorporated by reference to Exhibit A to the Company's
                    Registration Statement on Form 8-A as filed with the SEC on November 14,
                    1986, as updated in Amendment No. 16 to the Company's Registration
                    Statement on Form N-2 as filed with the SEC on July 29, 1993, including any
                    amendment or report filed for the purpose of updating such description.
All
documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment which
indicates that all securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated herein by reference
and be a part hereof from the date of filing of such documents. Any statement contained in
a document incorporated or deemed to be incorporated herein by reference shall be deemed
to be modified or superseded for purposes of this registration statement to the extent
that a statement contained herein or in any other subsequently filed document which also
is or is deemed to be incorporated by reference herein modifies or supersedes that
statement. Any such statement so modified or superseded shall not constitute a part of
this registration statement, except as so modified or superseded.
Item 4.
Description of Securities.
This
Item is not applicable.
Item 5.
Interests of Named Experts and Counsel.
Lawrence
L. Hooper, Jr., Esq., who has passed upon the legality of any newly issued shares of the
Company's Common Stock covered by this Registration Statement, is Vice President,
General Counsel and Secretary of the Company. Lawrence L. Hooper, Jr., Esq. is eligible to
receive awards under the Company's 2005 Equity Incentive Compensation Plan and owns,
or has the right to acquire, a number of shares of the Company's Common Stock which
represents less than 1% of the total outstanding shares of the Company's Common
Stock.
II – 1
Item 6.
Indemnification of Directors and Officers.
The Maryland
General Corporation Law (the "MGCL") permits a Maryland corporation to include
in its charter a provision limiting the liability of its directors and officers to the
corporation and its stockholders for money damages except for liability resulting from
(a) actual receipt of an improper benefit or profit in money, property or services or
(b) active and deliberate dishonesty established by a final judgment as being
material to the cause of action. Article ELEVENTH of the Articles of Incorporation of the
Company, as amended (the "Charter"), contains such a provision which eliminates
such liability to the fullest extent permitted by applicable law.
Article
TWELFTH of the Charter and Article 5 of the By-Laws of the Company, as amended (the
"By-Laws"), generally obligate the Company, to the fullest extent permitted by
applicable law, including the MGCL and the Investment Company Act of 1940, as amended, to
indemnify and pay or reimburse expenses incurred by any person who was or is involved in
any manner, or is threatened to made so involved, in any proceeding by reason of the fact
that such person (a) is or was a director or officer, or, at the option of the Board
of Directors in any particular case, an employee or agent of the Company or
(b) serves or served at the request of the Company any other enterprise as a
director, officer, partner or trustee, or, at the option of the Board of Directors in any
particular case, an employee or agent.
The
MGCL requires a corporation (unless its charter provides otherwise, which the Charter does
not) to indemnify a director or officer who has been successful, on the merits or
otherwise, in the defense of any proceeding to which he or she is made a party by reason
of his or her service in that capacity. The MGCL permits a corporation to indemnify its
present and former directors and officers, among others, against judgments, penalties,
fines, settlements and reasonable expenses actually incurred by them in connection with
any proceeding to which they may be made a party by reason of their service in those or
other capacities unless it is established that (a) the act or omission of the
director or officer was material to the matter giving rise to the proceeding and
(i) was committed in bad faith or (ii) was the result of active and deliberate
dishonesty, (b) the director or officer actually received an improper personal
benefit in money, property or services or (c) in the case of any criminal proceeding,
the director or officer had reasonable cause to believe that the act or omission was
unlawful. However, under the MGCL, a Maryland corporation may not indemnify for an adverse
judgment in a suit by or in the right of the corporation or for a judgment of liability on
the basis that personal benefit was improperly received, unless in either case a court
orders indemnification and then only for expenses. In addition, the MGCL permits a
corporation to advance reasonable expenses to a director or officer upon the
corporation's receipt of (a) a written affirmation by the director or officer of
his or her good faith belief that he or she has met the standard of conduct necessary for
indemnification by the corporation and (b) a written undertaking by him or her or on
his or her behalf to repay the amount paid or reimbursed by the corporation if it shall
ultimately be determined that the standard of conduct was not met.
The
Company's directors and officers are insured against certain liabilities for actions
taken in such capacities.
II – 2
Item 7.
Exemption from Registration Claimed.
This
Item is not applicable.
Item 8.
Exhibits.
4-a
—
Articles of Incorporation of the Company, as amended.
4-b
—
By-Laws of the Company, as amended.
4-c
—
The
Adams Express Company 2005 Equity Incentive Compensation Plan, included as Appendix A to
the Company's Proxy Statement for its 2005 Annual Meeting of Stockholders, is hereby
incorporated by reference.
5
—
Opinion of Lawrence L. Hooper, Jr.
as to the legality of any newly issued shares of
                         Common Stock of the Company covered by this registration statement.
23-a
—
Consent of PricewaterhouseCoopers LLP,
 an independent registered public accounting
firm.
23-b
—
Consent of Chadbourne & Parke LLP.
23-c
—
Consent of Lawrence L. Hooper, Jr.,
contained in his opinion filed as Exhibit 5 to
                         this registration statement.
24
—
Powers of Attorney
authorizing certain persons to sign this registration statement
on behalf of certain directors and officers of the Company.
Item 9.
Undertakings.
A.    
          The Company hereby undertakes:
(1)  
               To file, during any period in which offers or sales are being made, a
               post-effective amendment to this registration statement: (i) to include any
               prospectus required by Section 10(a)(3) of the Securities Act; (ii) to
               reflect in the prospectus any facts or events arising after the effective date
               of this registration statement (or the most recent post-effective amendment
               thereof) which, individually or in the aggregate, represent a fundamental change
               in the information set forth in this registration statement; and (iii) to
               include any material information with respect to the plan of distribution not
               previously disclosed in this registration statement or any material change to
               such information in this registration statement; provided, however, that clauses
               (i) and (ii) do not apply if the information required to be included in a
               post-effective amendment by those clauses is contained in periodic reports filed
               with or furnished to the Commission by the Company pursuant to Section 13 or
               15(d) of the Exchange Act that are incorporated by reference in this
               registration statement.
II – 3
(2)  
               That, for the purpose of determining any liability under the Securities Act,
               each such post-effective amendment shall be deemed to be a new registration
               statement relating to the securities offered therein, and the offering of such
               securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(3)  
               To remove from registration by means of a post-effective amendment any of the
               securities being registered which remain unsold at the termination of the
               offering.
(4)  
               That, for purposes of determining any liability under the Securities Act, each
               filing of the Company's annual report pursuant to Section 13(a) or 15(d) of
               the Exchange Act that is incorporated by reference in this registration
               statement shall be deemed to be a new registration statement relating to the
               securities offered therein, and the offering of such securities at that time
               shall be deemed to be the initial
bona
fide
offering thereof.
B.    
          Insofar as indemnification for liabilities arising under the Securities Act may
          be permitted to directors, officers and controlling persons of the Company
          pursuant to the foregoing provisions, or otherwise, the Company has been advised
          that in the opinion of the Commission such indemnification is against public
          policy as expressed in the Securities Act and is, therefore, unenforceable. In
          the event that a claim for indemnification against such liabilities (other than
          the payment by the Company of expenses incurred or paid by a director, officer
          or controlling person of the Company in the successful defense of any action,
          suit or proceeding) is asserted by such director, officer or controlling person
          in connection with the securities being registered, the Company will, unless in
          the opinion of its counsel the matter has been settled by controlling precedent,
          submit to a court of appropriate jurisdiction the question whether such
          indemnification by it is against public policy as expressed in the Securities
          Act and will be governed by the final adjudication of such issue.
II – 4
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Baltimore, State of Maryland on the
27th day of April, 2005.
THE ADAMS EXPRESS COMPANY
By
/s/ LAWRENCE L. HOOPER, JR.
(Lawrence L. Hooper, Jr.)
Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been
signed on the 27th day of April, 2005 by the following
persons in the capacities indicated:
Signature
Title
ENRIQUE R. ARAC*
Director
PHYLLIS O. BONANNO*
Director
DANIEL E. EMERSON*
Director
THOMAS H. LENAGH*
Director
W.D. MACCALLAN*
Director
KATHLEEN T. MCGAHRAN*
Director
DOUGLAS G. OBER*
Chairman of the Board, Chief Executive Officer
(principal executive officer) and a Director
JOHN J. ROBERTS*
Director
SUSAN C. SCHWAB*
Director
ROBERT J.M. WILSON*
Director
MAUREEN A. JONES*
Vice President,
Chief Financial Officer and Treasurer (principal financial and accounting officer)
* By
/s/ LAWRENCE L. HOOPER, JR.
(Lawrence L.
Hooper, Jr., Attorney-in-fact)**
**  By authority of the powers of
attorney filed herewith.
II – 5
EXHIBIT INDEX
Exhibit
Number
Page
4-a
Articles of Incorporation of the Company, as amended.
4-b
By-Laws of the Company, as amended.
5
Opinion of Lawrence L. Hooper, Jr. as to the
legality of any newly issued shares of Common Stock of the Company covered by this registration statement.
23-a
Consent of PricewaterhouseCoopers LLP,
an independent registered public accounting firm.
23-b
Consent of Chadbourne & Parke LLP.
23-c
Consent of Lawrence L. Hooper, Jr.,
contained in its opinion filed as Exhibit 5 to this registration statement.
24
Powers of Attorney authorizing certain
persons to sign this registration statement on behalf of certain directors and officers of the Company.