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First Oil Well is drilled in Pennsylvania
George Bissell and Edwin L. Drake made the first successful oil well by using a drilling rig. -
Transcontinental Railroad is Completed
Transcontinental railroads connected the East to the West, NOT North to the South. This developed into a big business controlled by a few powerful men. -
Rockefeller founded Standard Oil
Rockefeller hated competition so he built the Standard Oil company of Ohio. Made the prices low so other companies went out of business. He took over these businesses and raised the oil prices because people had to buy from him. -
First Telephone on White House
Hayes has the first telephone installed in the telegraph room. -
Edison perfects incandescent Light Bulb
The light bulb is Edison's most famous invention, along with the Electric power plant. -
Railroads set up Standard Time Zones
Railroad companies started this so it is easier to create a uniform train schedule with times for departure and arrivals. -
Bell patents Telephone
The telephone was to allow people to communicate by voice over long distances. In 1876 is when they tested this "talking machine." -
First Electric Trolley Line, Richmond VA
The success of the electric trolley proved that electric traction is safe and reliable. -
Sherman Antitrust Act is Passed
The Sherman Antitrust Act was first passed to prohibit trusts. -
Carnegie Steel Company is Founded
This company was later sold to JP Morgan which became very successful. -
JP Morgan forms US Steel
This was the first American business worth more than $1 billion.
