Big Business and the West Time Line: Jodie Byun & Chloe Cho

First Oil Well is Drilled, Pennsylvania

Aug 27, 1859

First oil, Pennsylvania:
On August 27, 1859, George Bissell and Edwin L. Drake made the first successful use of a drilling rig on a well drilled mostly to produce oil, at a site on Oil Creek near Titusville, Pennsylvania.

Transcontinental Railroad is Completed

May 10, 1869

Transcontinental railroad is completed:
The first transcontinental railroad started at Promontory, Utah.
The main line of the railroad was officially completed on May 10, 1869.
The completion of the transcontinental railroad made the American West easily accessible, developing business and trade systems.

Rockefeller Founded Standard Oil Company

1870

Rockefeller Founded Standard Oil:
Rockefeller entered the oil industry in the 1860s and 1870s but and bought out other businesses/Competitors. However on May 15th 1911 the Supreme Court ordered the dissolution of Standard Oil Company.

Bell Patents Telephone

Mar 7, 1876

Bell Patents Telephone:
On March 7th 1876 Alexander Graham Bell received a patent for the telephone. The invention of the telephone revolutionized the way people communicate with one another. The device allowed people to instantly and effectively talk to each other over long distances.

First telephone on White House

1877

First telephone on White House:
In July, 1877, President Rutherford B. Hayes installed the first White House’s telephone.

Edison perfects an incandescent light bulb

1879

Edison perfects an incandescent light bulb:
In November 1879, going through various experiments, Edison and his team of researchers had finally finished their carbonized cotton filament and filed for a US patent for an electric lamp.

Railroads set up standard time zones

Nov 19, 1883

Railroads set up standard time zones:
Operators of the new railroad lines needed a new time plan that would organize the railroad system.
In November 19,1883, Four standard time zones for the continental United States were proposed.

First electric trolley line, Richmond, VA

1888

First electric trolley line, Richmond, VA:
The first official electric trolley line in Richmond, Virginia had set the pattern for most following electric trolley systems around the world.

Sherman Anti Trust Act is Passed

Jul 2, 1890

Sherman Anti Trust Act is Passed:
Approved July 2, 1890, The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.

Carnegie Steel Company is Formed

1892

Carnegie Steel Company is formed:
His steel business started off with only a few steel mills, but as business grew Carnegie proposed that all his plants and assets from different steel mills would be consolidated into one company.
The company was officially formed in 1892 at Pittsburgh, Pennsylvania.

J.P. Morgan forms U.S. Steel

1901

J.P. Morgan forms U.S. Steel:
-United States Steel Corporation, leading U.S. producer of steel and related products, founded in 1901.
-J.P. Morgan had combined 7 major steel companies, forming billion dollar company called the US Steel.