Western Union
Samuel Morse sent the first telegraph message
from Washington, D.C. to Baltimore, Md., in 1844, introducing the world
to long-distance communication. Entrepreneurs rushed in to capitalize
on this revolutionary technology, laying miles of telegraph lines to
connect America's young cities. One of those fledgling telegraph
companies was the New-York and Mississippi Valley Printing Telegraph
Company, founded in 1851. The company soon merged with competing
telegraph networks and changed its name to Western Union.
At the peak of popularity, Western Union sent out more than 200 million telegrams in 1929.
That business declined with the advent of cheaper long-distance phone
service and the Internet. Fortunately, the company has always had
diverse interests. It started its wire money transfer business back in
1871 .
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