Financial Records
name: label: Collection Creator
content: United Telegraph Workers.
label: Collection Creator
content: Western Union Telegraph Company
setName: label: See more items in
content: Western Union Telegraph Company Records
unitdate: label: Date
content: 1859-1995
dataSource: label: Archival Repository
content: Archives Center, National Museum of American History
identifier: label: Identifier
content: NMAH.AC.0205, Series 8
objectType: label: Type
content: Archival materials
arrangement: label: Arrangement
content: Materials relating to Western Union's finances are organized into thirteen subseries: 

1. Activities of the Accounting Department, 1941

2. Stock Transfer Books and Ledgers, 1859-1880 

3. Trial Balance Volumes, 1880-1908 

4. Ledgers of subsidiary company accounts, 1910-1920 

5. Journal of Accounts and Explanation, Vol. O, July-December 1910 

5a. Reports of Committee to Examine Assets in the Treasury and the Treasurer's Accounts, 1882-1908 

6. Minutes of Records, Expenditure Committee, 1889-1909 

7. Cash and tax ledgers, 1896; 1932-1944 

8. Statistical Notebooks, 1886-1908 

9. Financial Statements, 1945 

10. Income Tax Returns, 1918-1937 

11. Reconstruction Finance Corporation, 1943-1948 

12. First Financial Management Corp., 1993-1995 

13. Miscellaneous, 1879-1948
scopecontent: label: Scope and Contents
content: The stock transfer books, 1859-1880, report the re-issuance of stock certificates at the office of the Registry of Transfers in New York City. Western Union acquired the registry books from the respective registrars of Western Union stock (i.e. the Union Trust Company, registrar from June 16, 1865 until approximately January 1, 1871 and the Farmers Loan & Trust Company, registrar from December 6, 1870 to January 1, 1885) after they ceased to act as registrars. The Union Trust Company was unable to find their registry book which covered the period June 16, 1885 to August 17, 1866. Because Western Union ordered the discontinuance of the registrar of transfers and transfer agency for the city of New York between August 17, 1866 and January 21, 1869, no records exist for this period. 

In January, 1865, the Executive Committee of Western Union directed the establishment of a New York transfer agency and the listing of the stock on the New York Stock Exchange. Beginning in 1865, to reflect changes in stock value, Western Union shareholders surrendered their stock certificates to a registrar who, after canceling existing certificates, countersigned the new certificates and delivered them to a designated transfer agent also in New York City. The agent acknowledged receipt of the new certificate(s) from the registrar. 

Information appearing in the stock transfer books include the dates when surrendered certificates were delivered to the registrar; the delivery dates of new certificates to entitled stockholders; dates of cancellation; the location of the office that originally issued the surrendered certificates; the number of certificates and shares both surrendered and reissued; the names of the individual(s)/organization(s) to whom certificates were originally issued, surrendered and transferred to; and the transfer agent's acknowledgement of receipt. 

The ledgers, 1910-1920, include subsidiary accounts for the period 1910 to 1911 and 1916 to 1920. There are federal account books in addition to regular Western Union Company account books for the years 1918 to 1919. The ledgers are arranged numerically by account number. Only the first volume, 1910 to 1911, is indexed. 

The Records of the Expenditure Committee, 1889-1909, report on a wide variety of financial matters, including staff, construction, maintenance, and sundries. Staff considerations include general employment costs, costs incurred in the employment of additional labor, and salary changes. The committee itemized sundries such as inaugural funds, painting costs, and light expenses with in each volume. The minute books cover the period May 1889 to December 1909. The collection does not contain the ten volumes preceding May 1889. All available volumes are indexed. 

Western Union maintained separate ledgers for tax purposes, based upon an auditor's monthly statements of revenue. Tax ledgers, 1932-1944, are arranged alphabetically by state/province. 

The statistical notebooks, 1886-1908, consist of small notebooks that provide a wide range of statistical and financial information regarding Western Unions and its numerous subsidiaries. The notebooks for the period 1886 to 1897 contain percentages of increase and decrease in office receipts, office expenses, abstracts from semiannual reports, daily traffic tabulations, rates per word for press service, miles of post, and wire prices. There is an index for the notebook dated 1886 to 1887. The notebooks dated 1901to 1908 were maintained by R.C. Clowry, the President and General Manager of Western Union (1902-1910). Indexed alphabetically by subsidiary, there is information relating to notes on capital, amounts Western Union owes, amounts outstanding, and indication if lines are leased or absorbed, and the percentage of investment. Estimates for construction, repairs, test office receipts, treasurer's estimates, and money transfer information is also included. 

Miscellaneous items in this series include two publications titled Relationship of AT & T Company to the Telegraph Business, 1933, which contain statistical data on the effect on the telegraph business of the competition of the AT & T Company. This report was prepared by Chester McKay, a vice president with Western Union, and provides financial statements detailing gross operating revenues and a supplemental narrative explanation. The Remarks Incident to Review of the Summons & Complaint in the Case of Bertram R. Smith vs. Western Union and Gold & Stock, 1948, was produced by the accounting department in conjunction with the legal case regarding stock ownership.