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First oil well is drilled, Pennsylvania
George Bisel and Edwin L. Drake made a successful rig on well drilled site (especially for producing oil) on Oil Creak near Titusville, Pennsylvania. -
Transcontinental railroad is completed
A golden spike was driven at Promontory, Utah signaling the completion of first transcontinental railroad. -
Rockefeller founds Standard Oil
Rockefeller joined the business in the 1860's and founded Standard Oils with some other business partners. Then later, The Supreme Court ruled that Standard Oil companies are in violation in the Sherman Antitrust act. -
Bell patents telephone
Alexander Graham Bell tested his telephone by calling his assistant and saying "Mr. Watson, come here, I want to see you." -
First electric trolley line, Richmond, VA
This was the first practical trolley system. Set the pattern for other trolley systems around the world -
First telephone on White House
President Ruther B. Hayes has the White House's first telephone installed in the mansions telephone room -
Edison perfects incandescent light bulb
Using a filament of carbonized cotton thread, his first attempt at this design results in a bulb that lasts about 13.5 hours before burning out. He later extends the life of the bulb to 40 hours -
Railroads set up standard time zones
Operators of the new railroad lines needed a new time plan that would organize the train schedule for departures and arrivals. Four standard time zones were introduced for the Continental United States -
Sherman Antitrust Act is passed
First federal act that outlawed business practices. The first measure passed by the US congress that prohibits trust -
Carnegie Steel Company is formed
A steel management company created by Andrew Carnegie to manage businesses at steal mills in the Pittsburgh Pennsylvania area. -
J.P. Morgan forms U.S. Steel
Integrated steel producer headquartered in Pittsburgh, Pennsylvania
