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Western Union Telegraph Co. 1869 Annual Stockholder Report

Currency:USD Category:Collectibles / Historical Memorabilia Start Price:20.00 USD Estimated At:40.00 - 80.00 USD
Western Union Telegraph Co. 1869 Annual Stockholder Report
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This item SOLD at 2022 Mar 31 @ 12:20UTC-4 : AST/EDT
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New York..., 1869. Annual Report of the President of the Western Union Telegraph Co. to the Stockholders. Black text and many pages long, includes important company information, such as details of the reconstruction of telegraph lines; disbursement of net profits; and extent of rival organizations. Western Union regards its founding year as 1851, and bought smaller companies thereafter rapidly. By 1860 its lines reached from the East Coast to the Mississippi River, and from the Great Lakes to the Ohio River. In 1861 Western Union opened the first transcontinental telegraph. In 1865 it formed the Russian-American Telegraph in an attempt to link America to Europe, via Alaska, into Siberia, to Moscow - a project abandoned in 1867 following the successful laying of a transatlantic cable in 1866. Western Union introduced the first stock ticker in 1866, and a standardized time service in 1870. The next year, 1871, the company introduced its money transfer service, based on its extensive telegraph network. In 1879, Western Union left the telephone business, settling a patent lawsuit with Bell Telephone Company. As the telephone replaced the telegraph, money transfer became its primary business. (From the Collection of John E. Herzog)