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Drake Well (the first oil that was ever drilled)
In the 1850's, Seneca Oil Company sent Col. Edwin L. Drake, to start drilling on a piece of leased land just south of Titusville near what is now Oil Creek State Park. -
Transcontinental railroad is complete
the presidents of the Union Pacific and Central Pacific railroads meet in Promontory, Utah, and drive a ceremonial last spike into a rail line that connects their railroads. This made transcontinental railroad travel possible for the first time in U.S. history. -
Rockefeller founds standard oil
He built his first oil refinery near Cleveland and in 1870 incorporated the Standard Oil Company. By 1882 he had a near-monopoly of the oil business in the U.S. -
bell patents telephone
American inventor Alexander Graham Bell tested his telephone in 1876. On March 7, 1876, Alexander Graham Bell received a patent for the telephone. -
first telephone on Whitehouse
On this day in 1877, President Rutherford B. Hayes had the first telephone installed in the telegraph room of the White House. Hayes was an early adopter. -
Edison perfects incandescent lightbulb
Thomas Edison perfects the first 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
American and Canadian railroads begin using four continental time zones to end the confusion of dealing with thousands of local times. The bold move was emblematic of the power shared by the railroad companies. -
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 antirust act is passed
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
The company formed in 1892 and was subsequently sold in 1901 in one of the largest ever business transactions of the early 20th century, The subsequent sale made Carnegie one of the richest men in history. -
jp Morgan forms us steel
J. P. Morgan and attorney Elbert H. Gary founded U.S. Steel on March 2, 1901 by combining Andrew Carnegie's Carnegie Steel Company with Gary's Federal Steel Company and William Henry Moore's National Steel Company for $492 million.
