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first oil well is drilled
George Bissell and Edwin L. Drake were the inventors of this. It was located near Titusville, Pennsylvania. It sparked the oil boom in the United States. -
Transcontinental railroad is created
The transcontinental railroad connected the railways of the Eastern states to that of California. California was expanding and booming in industry. The building of this railroad was sparked by the discovery of gold in California. -
Rockefeller founds Standard Oil
He founded this in 1870 as a corporation in Ohio. It was the largest oil refinery in the entire world. John Rockefeller became the richest man in the world because of this. -
Bell patents telephone
Bell had a very high interest in transferring verbal speech over wires that can extend across a long space. He realized that there were too many drawbacks to the telegraph. -
First telephone on White House
The President was Rutherford B. Hayes. The telephone number was 1. The president did not receive a lot of messages. The telephone now is very present in modern society. -
Edison perfects incandescent light bulb.
With lower current electricity, a small carbonized filament, and an improved vacuum inside the globe, Thomas Edison was produced a sufficient, bright light that could light a building in the dark. -
Railroads set up standard time zones
There are 4 time zones in the U.S.A. They are each $1. The railroad system desired to create their own time system, rather than use the U.S. government. -
First electric trolley line, Richmond, VA
It was not the first time someone had tried to make a trolley. The trolleys were an affordable way to transport millions of passengers. This created a worldwide urban transportation revolution. -
Sherman Antitrust Act is passed
This is designed to prevent a monopoly in business. The Sherman Act does not protect competitors from harm from actual prosperous businesses, nor to have businesses from gaining actual profits from consumers. It is to preserve a fierce marketplace which protects their customers from legit abuse. -
Carnegie Steel Company
It was created in Downtown Pittsburgh in the year 1892. It is the greatest strength in the Steel industry. There is now a college Carnegie Melon, that is named after Andrew Carnegie. -
J.P. Morgan forms U.S. Steel
There was a financial panic in 1907, J. Pierpont Morgan saved many trust companies, and helped out the New York Stock exchange in the process. .
