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. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Separation of the companies had two objectives: first, to give Western Union the opportunity to develop more intensively, and secondly, to help First Data to return to its original activity (in 1992 the company separated from the payment system of American Express as an independent financial services company). As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.
Western union sending money to Philippines
Separation of the companies had two objectives: first, to give Western Union the opportunity to develop more intensively, and secondly, to help First Data to return to its original activity (in 1992 the company separated from the payment system of American Express as an independent financial services company). As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union.
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Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. In April 1851 companions registered in Albany New York and Mississippi Valley Printing Telegraph Company (NYMVPTC), which included founded two years before New York State Printing Telegraph Company. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. To obtain the Golden card can any client of Western Union, committing money transfers on this system more than 1 time per year. Getting the card is issued at the time of making of the next transfer. The project of congressmen involved the construction of lines with the length of two thousand miles in 10 years. Western Union handled the government task within 112 days. The secret of Sibley was simple: he used the tactics of the "Western Union". The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world. 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.