1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. Another invention of Western Union - time synchronization. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. The Western Union Company is a financial services and communications company based in the United States. In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company.