The Western Union Telegraph Company
| Company Deal | 4.60% convertible cumulative preferred shares |
|---|---|
| Transaction Type | Convertible Cumulative Preferred Shares |
| Deal Description | The Western Union Telegraph Company used the net proceeds from this transaction for expansion of facilities and furtherance of its construction program. Since 1961, the company had been engaged in the largest construction program in its history. The program was intended to provide the company with new and technologically advanced plant facilities capable of handling the complex and rapidly expanding communications requirements of government, industry, and the general public. |