Not long afterwards Edison brought out the invention which set him on the high road to great achievement. This was the improved stock ticker, for which the Gold and Stock Telegraph Company paid him forty thousand dollars. It was much more than he had expected. "I had made up my mind," he says, "that, taking into consideration the time and killing pace I was working at, I should be entitled to $5000, but could get along with $3000." The money, of course, was paid by check. Edison had never received a check before and he had to be told how to cash it. Edison immediately set up a shop in Newark and threw himself into many and various activities. He remade the prevailing system of automatic telegraphy and introduced it into England. He experimented with submarine cables and worked out a system of quadruplex telegraphy by which one wire was made to do the work of four. These two inventions were bought by Jay Gould for his Atlantic and Pacific Telegraph Company. Gould paid for the quadruplex system thirty thousand dollars, but for the automatic telegraph he paid nothing. Gould presently acquired control of the Western Union; and, having thus removed competition from his path, "he then," says Edison, "repudiated his contract with the automatic telegraph people and they never received a cent for their wires or patents, and I lost three years of very hard labor. But I never had any grudge against him because he was so able in his line, and as long as my part was successful the money with me was a secondary consideration. When Gould got the Western Union I knew no further progress in telegraphy was possible, and I went into other lines."* * Quoted in Dyer and Martin. "Edison", vol. 1, p. 164. In fact, however, the need of money forced Edison later on to resume his work for the Western Union Telegraph Company, both in telegraphy and telephony. His connection with the telephone is told in another volume of this series.* He invented a carbon transmitter and sold it to the Western Union for one hundred thousand dollars, payable in seventeen annual installments of six thousand dollars. He made a similar agreement for the same sum offered him for the patent of the electro-motograph. He did not realize that these installments were only simple interest upon the sums due him. These agreements are typical of Edison's commercial sense in the early years of his career as an inventor. He worked only upon inventions for which there was a possible commercial demand and sold them for a trifle to get the money to meet the pay rolls of his different shops. Later the inventor learned wisdom and associated with himself keen business men to their common profit. * Hendrick, "The Age of Big Business".