In the 80's of Nineteenth century, Western Union was repeatedly tried capture by the railroad tycoon Jay Gould. He worked with Alexander Graham Bell, inventor of the first phone. The Western Union Company is a leader in global payment services One of the common kinds of money transfer is a transfer via the international system of Western Union. 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. Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. Western Union made so that the time in all of American civil services was the same. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.