In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. 1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. 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. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.