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First oil well is drilled, Pennsylvania
On August 27, 1859, 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. -
Bell patents telephone
On March 7, 1876, Alexander Graham Bell received a patent for the 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 -
Transcontinental railroad is completed
The First Transcontinental Railroad in North America was built in the 1860s, linking the well developed railway network of the East coast with rapidly growing California. The main line was officially completed on May 10, 1869 -
Rockefeller founds Standard Oil
The Standard Oil Trust was formed in 1863 by John D. Rockefeller. He built up the company through 1868 to become the largest oil refinery firm in the world. In 1870, the company was renamed Standard Oil Company, after which Rockefeller decided to buy up all the other competition and form them into one large company. It grew insanely rich. -
First telephone installed in the White House
On this day in 1877, President Rutherford B. Hayes has the White House's first telephone installed in the mansion s telegraph room. President Hayes embraced the new technology, though he rarely received phone calls. -
Edison perfects incandescent light bulb
Edison and his team of researchers in Edison's laboratory in Menlo Park, N.J., tested more than 3,000 designs for bulbs between 1878 and 1880. In November 1879, Edison filed a patent for an electric lamp with a carbon filament. -
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 on November 18, 1883. -
First electric trolley line, Richmond, VA
After trials in late 1887, it began regular operation on February 2, 1888, with 10 streetcars. Electric power was supplied through overhead trolley wires (450 volts) for two 7.5 horsepower (5.6 kW) motors on each car. Large cars weighed 6,900 pounds (3,100 kg), provided 40 seats, and carried up to 100 passengers. -
Sherman Antitrust Act is passed
Approved July 2, 1890, 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
Carnegie agreed to Frick's subsequent proposal that the various plants and assets be consolidated into one company. This consolidation occurred on July 1, 1892 with the formation of the Carnegie Steel Company. -
J.P. Morgan forms U.S. Steel
At the beginning of the 20th century, a number of businessmen were involved in the formation of United States Steel Corporation, including Andrew Carnegie, Elbert H. Gary, Charles M. Schwab, and J.P. Morgan. Carnegie had founded Carnegie Steel Company, centered in Pittsburgh, Pennsylvania, and Gary had founded Federal Steel Company, centered in Chicago. In 1900 Schwab became president of the Carnegie company, and he eventually approached Gary with the idea of a giant consolidation.
