 Ultimately Loomis's petition for financial support was not approved.Rebuffed in obtaining federal financing, Loomis concluded that forming a corporation under a federal charter would help increase the visibility of his efforts, and would be more likely to be approved, since the federal government would not have to spend any money.Thus, on July 11, 1870, a bill was introduced by John Bingham of Ohio in the House of Representatives to incorporate the Loomis Aerial Telegraph Company, which under the proposed charter would be used "to utilize the principles and powers of natural electricity in telegraphing, generating light, heat and motive power".