In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. The Western Union Company is a financial services and communications company based in the United States. 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.