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Pitney Bowes

In 1902, Arthur Pitney patented his first "double-locking" hand-cranked postage-stamping machine, and, with patent attorney Eugene A. Rummler, founded the Pitney Postal Machine Company. In 1908, English emigrant and founder of the Universal Stamping Machine Company Walter Bowes began providing stamp-canceling machines to the United States Postal Service. Bowes moved his operations to Stamford in 1917. A rapid increase in mail volume in 1919 made the Post Office more receptive to metered mail, and Pitney subsequently traveled to meet Bowes. On March 15, 1920, the United States House of Representatives passed a bill authorizing mechanical stamps on First-Class Mail, and on April 23, 1920, the two companies merged to form the Pitney Bowes Postage Meter Company, with the goal of producing a machine that would combine Pitney's "double-locking" counter with Bowes' system for wrapping postage payment, postmarking and cancellation. The United States Post Office approved their postage meter on August 25, 1920.

Between 1922 and 1923, the government collected $4,359,070 in postage from the first commercial installations of 400 meters. Pitney Bowes also began to sell their products internationally.

In 1938, Walter H. Wheeler, Jr. was named President and Chairman of the Board and would lead the company over the next three decades. In the 1940s, Wheeler boycotted a hotel when it refused to register one black salesperson, championing a spirit of diversity that still exists today, writing: "Pitney Bowes' worksites will reflect the communities in which we operate."[2] During the 1950s, The National Urban League recognized Pitney Bowes for its leadership in providing job opportunities to African Americans.

During World War II, Pitney-Bowes received an Army-Navy ‘E’ Award denoting excellence in production of crucially needed instruments of war. (February 1, 1943).[3]

The company went public on the New York Stock Exchange in 1950. Subsequently, Pitney Bowes was named to the S&P 500 when this benchmark index was created in 1957 and joined the Fortune 500 in 1962.