The company was incorporated in New York in August 1867 to exploit Edward Calahan's stock ticker. On August 27, 1869 it acquired the Gold and Stock Reporting Company, including Edison's patents held by the company. In February 1870 Edison began working under contract to officials of the company. Two of his firms, American Printing Telegraph and Financial and Commercial Telegraph were acquired by Gold and Stock in 1870. On May 26, 1871 Edison signed a five-year contract as a consulting electrician and inventor for Gold and Stock. At the same time, Western Union acquired control of the company.