Mississippi Company
Cornell's sister, Phoebe, married Martin B. Wood and moved to Albion, Michigan, in 1848. Cornell gave Wood a job constructing new lines and made Phoebe his telegraph operator, the first woman operator in the United States. Cornell earned a substantial fortune when the Erie and Michigan was consolidated with Hiram Sibley and his New York and Mississippi Company to form the Western Union company. Cornell received two million in Western Union stock.