And some adjusted their sails – episode three
Western Union T his story starts in the year 1851 with the formation of a financial and Communication Company by a group of businessmen, notable among them Hiram Siley named “ The New York and Mississippi Valley Printing Telegraph Company ”. During the first five years of existence, the company went aggressively acquiring other competitors. On 8 April 1856, the name of the company was changed to “ The Western Union Telegraph Company ” to signify the union of “Western” telegraph lines under one system. During the American civil war Hiram Siley took the challenge to connect the 2000 miles of telegraph lines to the far west. He succeeded in accomplishing a task that president Abraham Lincoln termed as “ next to impossible ” . By 1884, they had monopoly across the nation. As other methods of telecommunications gained popularity over telegraphy, Western Union diversified its operation. It managed to retain the position of market leader during the 1960s and ‘70s wit...