1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. 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. 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. Gold Card Loyalty Program Western Union