Lightning Man by Kenneth Silverman

Author:Kenneth Silverman [Silverman, Kenneth]
Language: eng
Format: epub, mobi
ISBN: 978-0-307-43437-1
Publisher: Knopf Doubleday Publishing Group
Published: 2003-06-11T16:00:00+00:00

For the first six months after his agreement with Kendall, Morse became little more than a bystander to the development of his invention. Kendall rapidly set to work forming or licensing companies to build new telegraph lines, with most of the capital raised in small amounts from people located along the routes. Three companies were especially important as representing the foundation of a national network, with New York City the hub. In May, Kendall organized a joint stock association called the Magnetic Telegraph Company—the nation’s first telegraph company. The Magnetic took subscriptions for carrying on the Baltimore-Washington line through Philadelphia to New York. Kendall himself served as the salaried president. The same month he concluded an agreement with some upstate operators of stagecoaches to form the New York, Albany & Buffalo Telegraph Company. Capitalized at $200,000, the company intended to build a line from New York City through Albany, Syracuse, and Rochester to Buffalo, with a link at Springfield, Massachusetts, to Smith’s New York–Boston line.

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