WESTERN UNION MONEY TRANSFER
In 1851, a group of New York businessmen started the New York & Mississippi Valley Printing Telegraph Company.
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.
Western Union introduced the first money transfer service in 1871.
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.
In 1884, Western Union became one of the original stocks listed on the Dow Average.
Western Union launched the Tele-Fax in 1935, the first public city-to-city fax service.
Western Union employee Thomas Edison later used the money transfer technology as the basis for
inventing an improved stock ticker.
In 1974, Western Union launched Westar I, the first American commercial communications satellite,
and became the first company with five satellites in orbit.