Western Union F.A.Q.
The Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. 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. America was on the verge of civil war and needed a reliable connection between the North and South. On the telegraph market of the USA at this time were operated with six large companies: American Telegraph Company, New York Albany and Buffalo Electro-Magnetic Telegraph Company, Atlantic and Ohio Telegraph, Illinois & Mississippi Telegraph Company, New Orleans & Ohio Telegraph Company, and the brainchild of Sibley & Co. - The Western Union Telegraph.
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