In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. 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 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. In 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.