The Commercial Cable Company was founded in New York in 1884 by John William Mackay and James Gordon Bennett, Jr. The company was created to break the near monopoly of Jay Gould on transatlantic telegraphy.
The Mackay-Bennett system provided telegraph services between Europe and North America using a visual indicator code.
An auction on eBay concluded yesterday for a fine copy of R154, made special by a nearly perfect handstamp cancel by the New Haven Steamboat Company. Seven bidders participated, with five willing to go above $20 in their bids for the stamp. Documentary cancel collecting is alive!