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First oil well is drilled, Pennsylvania
George Bissell and Edwin L. Drake were the first to use a drill and tap into an oil well -
Transcontinental railroad is completed
The final spike, made from gold, was driven into the ground signifying the completion of the Transcontinental railroad. -
Rockefeller founds Standard Oil
It was producing a transporting, refining, and marketing company that had a monopoly. It was dissolved in 1911 for being an illegal monopoly. -
Bell Patents Telephone
Bell receives a patent for his telephone, which is a controversy because other inventors claim that they first invented it. -
First telephone on White House
President Rutherford. B Hayes installed the first telephone in the white house in the telegram room. He rarely received any calls but he liked the new technology. -
Edison Perfects Incandescent Light Bulb
With a new carbonized filament, and an improved vacuum inside the globe, he was able to make a new long lasting light source. -
Railroads set up Standard Time Zones
Railroads create a new time schedule that they can all follow for arrivals and departures, and it ends up being the new standard time used in the Continental United States. -
First Electric Trolley Line, Richmond, VA
The first 10 trolly cars began regular operation, each holding about 100 passengers and traveled at about 7 to 8 miles per hour. -
Sherman Antitrust Act is Passed
An act to protect trade and commerce against unlawful restraints and monopolies -
Carnegie Steel Company is Formed
It was the biggest collection of steel mills, and was the main producer of steel. His company sold, and Carnegie became one of the richest men in the US. -
J.P. Morgan forms U.S. Steel
J.P. Morgan buys Andrew Carnegie's steel business for more than 490 million dollars, and forms U.S. Steel.
