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First oil well drilled in Pennsylvania
George Bissell and Edwin L. Drake succeed in drilling an oil rig in Oil Creek near Titusville, Pennsylvania. -
Transcontinental Railroad is completed
The presidents of Union Pacific and Central Pacific meet in Promontory, Utah. -
Standard Oil is founded by Rockefeller
Standard Oil is founded by John D. Rockefeller and Henry Falger in Cleveland OH. It produced, transported, refined, and sold oil. -
Bell Patents Telephone
Alexander Graham Bell is granted the patent for the telephone, and completes it three days later. -
First Telephone in the White House
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 the lightbulb
Thomas Edison perfects carbonized cotton filament light bulb -
Railroads Set Up Timezones
Plans needed to determine universal departures for trains. Four standard time zones for the United States are introduced. -
First Electric Trolley Line
Electric power is supplied through overhead trolley wires. Cars weigh 6,900 pounds, provided 40 seats, carried up to 100 passengers, and run at 7.5 miles per hour. -
Sherman Anti-Trust Act formed
The Sherman Anti-Trust Act is the first Federal act to outlaw monopolies and prohibit trusts. -
Carnegie Steel Company Formed
Carnegie Steel Company is founded in Pittsburgh, PA by Andrew Carnegie and several other close associates. -
J.P. Morgan forms US Steel
Those involved in the creation of US Steel were Andrew Carnegie, Elbert H. Gary, Charles M. Schwab, and, most importantly, J.P. Morgan. The company was based out of Pittsburgh, Pennsylvania.