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When the Dow Jones Transportation Average stock market index for the New York Stock Exchange (NYSE) was created in 1884, Western Union was one of the original eleven all-American companies tracked.In 1914, Western Union offered the first charge card for consumers; in 1923 it introduced teletypewriters to join its branches.
The name change was taken to shield the Western Union name from being dragged through the proceedings (and the bad PR that would cause). Amman and the backing of Le Bow, the company's value increased dramatically through its years operating under chapter 11.
Under the leadership of presidents Jeptha Wade and William Orton its capitalization rose from 5,700 in 1858 to million in 1876.
However it was top-heavy with stock issues, and faced growing competition from several firms, especially the Atlantic and Pacific Telegraph Company—itself taken over by financier Jay Gould in 1875.
It 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.