Telegraph machine ticker

The telegraph ticker was one of the first mass communication devices, instantly transmitting stock quotes and news in the 19th century.

About this subject

The telegraph ticker was invented by engineer Edward A. Calahan in 1867 and quickly became essential for the New York financial market. The device connected to a telegraph line and printed alphanumeric characters on a paper tape, known as "ticker tape." Before it, stock quotes were transmitted by messengers or mail, a slow and error-prone process. With the ticker, information arrived in minutes, enabling faster and more secure trades.

The historical importance of the ticker goes beyond finance. The term "ticker tape" became synonymous with ticker-tape parades in Wall Street, where used paper tape was thrown from windows during celebrations. Additionally, the ticker was used to disseminate general news, such as election results and war bulletins. Companies like Western Union and Dow Jones operated dedicated ticker networks, reaching thousands of subscribers in offices and clubs.

Technically, the ticker was a robust machine, operating at about one character per second. It used an adapted Morse code for letters and numbers, and the paper tape was perforated to mark characters. Maintenance was frequent due to mechanical wear. The mechanical ticker dominated until the mid-20th century, when it was replaced by electronic and computerized systems. Today, the term "ticker" is still used for real-time quotes on digital screens.

Frequently Asked Questions

Who invented the telegraph ticker?

The telegraph ticker was invented by American engineer Edward A. Calahan in 1867.

How did the telegraph ticker work?

The device received electrical signals from the telegraph and activated a mechanism that printed letters and numbers on a continuous paper tape.

What does "ticker tape" mean?

Ticker tape refers to the paper tape used in telegraph tickers. Later, it came to denote the strips of paper thrown in celebratory parades, such as those on Wall Street.