In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. In 1935, Western Union has put into operation first intercity fax communication. Most service points of Western Union work in the time convenient for customers throughout the week and throughout the year. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. On the market was placed about 765 million of ordinary shares of the company. On the first day trading on the exchange the company's shares rose by 3.3% and the cost was $ 19.96.