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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. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. 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". In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone.


Western union sending money to Thailand

In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. 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". July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average.


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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. 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. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 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. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.