WESTERN UNION MONEY TRANSFER - ORIGIN

WESTERN UNION MONEY TRANSFER

HISTORY

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In 1851, a group of New York businessmen started the New York & Mississippi Valley Printing Telegraph Company.

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In 1856, following the acquisition of a series of other telegraph systems, the company changed its name to

the Western Union Telegraph Company, symbolizing the "union" of eastern and western telegraph lines into one system.

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Western Union introduced the first money transfer service in 1871.

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Western Union became known in 1877 as "The Nation's Timekeeper," when it first introduced its Time

Service — sending out electronic impulses that regulated clocks in government buildings, schools, and

banks, ensuring that they always displayed the correct time.

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In 1884, Western Union became one of the original stocks listed on the Dow Average.

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Western Union launched the Tele-Fax in 1935, the first public city-to-city fax service.

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Western Union employee Thomas Edison later used the money transfer technology as the basis for

inventing an improved stock ticker.

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In 1974, Western Union launched Westar I, the first American commercial communications satellite,

and became the first company with five satellites in orbit.