[The Age of Big Business by Burton J. Hendrick]@TWC D-Link bookThe Age of Big Business CHAPTER IV 35/45
He has never received any reward himself except his salary, such fortune as he possesses being the result of personal business ventures in South America during the twenty years from 1887 to 1907 that he was not associated with the Bell interests. Vail's first achievement was to rescue this invention from the greatest calamity which would have befallen it.
The Western Union Telegraph Company, which in the early days had looked upon the telephone as negligible, suddenly awoke one morning to a realization of its importance.
This Corporation had recently introduced its "printing telegraph," a device that made it possible to communicate without the intermediary operator.
When news reached headquarters that subscribers were dropping this new contrivance and subscribing to telephones, the Western Union first understood that a competitor had entered their field.
Promptly organizing the American Speaking Telephone Company, the Western Union, with all its wealth and prestige, proceeded to destroy this insolent pigmy.
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