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Around [[1883]] Welles, in partnership with [[E. E. Saunders]], incorporated the [[E. E. Saunders Company]], with Welles acting as manager. At its 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>
Welles became very successful and in later years entered the banking industry, serving as vice president of the [[Citizens National Bank]] and a director of the [[Peoples National Bank]]. He also served for a time as president of the [[Gulf City Coffee Company]], and formed a joint venture with grocer [[Sol KahnCahn]] called the [[Welles-Kahn Cahn Company]]. Welles served as the president of the Young Men's Business League and the Good Government League, and was a member of the Knights of Pythias, Knights of Honor, the Improved Order of Red Men, Woodmen of the World, and the Masons. Welles owned a home at [[Gadsden Street]] and [[12th Avenue]], as well as a large plantation in north Alabama.
After E. E. Saunders' death in [[1913]], Welles bought his shares of the Saunders operations from his widow, and operated the company until his death in November [[1914]].
