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First oil well is drilled
George Bissell and Edwin L. Drake made the first successful use of a drilling rig on a well drilled especially to produce oil, at a site on Oil Creek near Titusville, Pennsylvania. -
Transcontinental railroad is completed
A golden spike was driven at Promontory, Utah, signaling the completion of the first transcontinental railroad in the United States. -
Rockefeller founded Standard Oil
In 1870, Rockefeller formed the Standard Oil Company of Ohio. -
Bell patents 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
President Hayes embraced the new technology, though he rarely received phone calls. In fact, the Treasury Department possessed the only other direct phone line to the White House at that time. The White House phone number was “1.” -
Edison perfects incandescent light bulb
Thomas Edison perfects the first commercially practical 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 offer a uniform train schedule for departures and arrivals. Four standard time zones for the continental United States were introduced. -
First electric trolley line
The Richmond Union Passenger Railway, in Richmond, Virginia, was the first practical electric trolley system, and set the pattern for most subsequent electric trolley systems around the world. -
Sherman Antitrust Act is passed
The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. -
Carnegie Steel Company is formed
Carnegie Steel Company was a steel producing company primarily created by Andrew Carnegie. -
J.P. Morgan forms U.S. Steel
United States Steel was built by combining ten different steel companies, including the two largest at the beginning of the twentieth century, the Carnegie Steel Company and the Federal Steel Company.
