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Fortran was the first compiled language, that is, the first language at a level higher than assembler. But Algol was a block-structured language in a way that Fortran wasn't, and virtually all languages of that "group" are block-structured today ("goto considered harmful" and all that). So Algol is more appropriate as the "prototype" of what exists today.
Mercury Autocode is perhaps a "missing link" between assembler and Fortran, though I'm not sure of the dates and whether the people developing Fortran knew about Mercury Autocode. Things developed quite fast in the 1950s.