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First oil well drilled in Pennsylvania
In late 1850's the Seneca Oil Company began drilling on a leased piece of land. The land is now part of Oil Creek State Park. -
Transcontinental railroad is completed
Upon completion in 1869 a golden spike was put into the ground marking the completion of the transcontinental railroad. This took place in Promontory, Utah. -
Rockefeller founds Standard Oil
John D. Rockefeller began investing in the oil business in 1863 and by 1870 he started Standard Oil. By the early 1880's his company controlled 90% of the pipelines and refineries in the United States. -
Bell patents telephone
Bells invention revolutionized communications. It made it possible to communicate with people over long distances easily. -
First Telephone at The White House
President Hayes is the first President to have a phone line installed at the White House -
Edison perfects incandescent light bulb
Thomas Edison perfects the first commercial light bulb. The original version lasted 13.5 hours before burning out. -
Railroads set up standard time zones
They were created to -
First electric trolley line
The Richmond Union Passenger Railway in Richmond Va. was the first practical electric trolley system. -
Sherman antitrust act is passed
The act was passed to prevent companies from becoming to large enough to have a monopoly on an industry. -
Carnegie Steel Company is formed
Founded by Andrew Carnegie and a handful of close associates, the company managed a number of steel mills in the Pittsburgh, Pa area. In 1901 the company was sold for $480 million ($14.1 billion in todays value). -
J.P. Morgan forms U.S. Steel
They are the worlds 24th largest steel producer in the world. The company was founded through a merger/buyout of Carnegie steel.
