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.
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.