Western Union

The Western Union Company (Western Union) - an American company specializing in providing monetary intermediation. Founded in 1851. Is one of the leaders in the market of international money transfers. In the Fortune 500 in 2009, the company won the 451-th position, moved from 473rd line in 2008. Revenue for 2007 totaled $ 4.9 billion, while the number of transactions was 572 million to go to the money transfer company provides services in the field of telegraphy.North American headquarters are located in Greenwood Village, Colorado, and the main office of the international service of marketing and commercial services is in Montvale, New Jersey.ContentStoryBefore the telegraphOne of the earliest descriptions of the prototype of the electric telegraph was published in 1753 in the journal «Scot's Magazine» by the letter "A quick way to transmit the news" (English «An Expeditious Method of Conveying Intelligence»), obtained from the Editorial Board of the mysterious sender - «CM» . This letter was first described a practical method of communication using static electricity. "What hath God wrought!"In 1832, Samuel Morse, with the assistance of Alfred Vail to begin designing electromechanical telegraph, which was called "recording telegraph." Morse and Vail continued to improve its development over the years. But gradually they began to feel that their development is almost close on the heels of other competing invention of Germany, France and England. Moreover, until they came reports that someone from their competitors was built experimental line length of 7.5 miles.In 1837, Samuel Morse introduced the documents to register a patent for his invention to the Patent Office. The method of Morse telegraph transmission in electric communication channels was to interrupt the flow of electrical current for shorter and longer periods of time, a special button on the device. Obtained in this way long and short signals, so-called "dash" and "points" (as well as pause, separating the letters) at a special code table translated into words. In 1838, Morse completed the telegraph and created his own company, taking a partner Alfred Vail and Leonard Gale.In 1843, Morse received a grant from Congress of $ 30 thousand dollars for the construction of the first telegraph line from Baltimore to Washington. However, unfortunately, it was not a shrewd businessman and had no practical plan for construction of the line. After an unsuccessful attempt to laying a telegraph cable under the ground together with Ezra Cornell, the inventor of the trench plow, which also dug a trench, the cables and dug a trench, Morse switched to the erection of telegraph poles instead of trenches, which was more successful solution. A successful solution was due to low cost and speed of laying lines, as the telegraph wires were attached to the posts bare, without costly isolation. May 24, 1844 of the Supreme Court building in the Capitol Morse sent a message to Baltimore to his companion Alfred Vail: «What hath God wrought!» (Rus What hath God wrought!, A phrase from the "Book of Numbers").In 1845, Morse had hired his company to the former Postmaster General of the offices of President Andrew Jackson and Martin Van Buren - Amos Kendall - the position of the agent to search for potential buyers of the telegraph. Kendall realized the true value of the development of Morse and it was not difficult to convince others of its potential for profit. By the beginning of the fall of the same year, he drew a small group of investors. Was created Magnetic Telegraph Company and a group of investors was opened financing for the company in the amount of 15 thousand dollars. At the same time, it created a lot of other telegraph companies as Morse sold licenses for its development who could.Company Magnetic Telegraph Company in the spring of 1846 was built and put into operation the first commercial telegraph line between Washington and New York. Immediately after that, the ex-congressman, Francis Smith - one of the owners of patent rights - to build a line between New York and Boston. Many of those early companies had licenses that they were given the patent holders of Samuel Morse.By 1851, the territory of the United States, there were about 50 independent telegraph companies. Such an abundance of companies in the market was due to the telegraph vain attempts to patent owners to telegraph to convince the U.S. government and other governments in the potential prospects of the invention. In the private sector, the owners of patents having difficulty in persuading capitalists in large commercial value of the invention. Therefore, this led to the fact that licenses were sold telegraph everyone entrepreneurs who created a separate company and then build an independent telegraph lines in different parts of the United States.