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First oil well is drilled, Pennsylvania
Seneca Oil Company -
Transcontinental railroad is completed
the railroads developed into a big business controlled by a few powerful men. The economy of the United States benefited from the railroads. -
Rockefeller founds Standard Oil
John D. Rockefeller built the standard oil company of Ohio -
Bell patents telephone
1876, 29-year-old Alexander Graham Bell receives a patent for his revolutionary new invention–the telephone. -
First telephone on White House
President Rutherford B. Hayes has the White House’s first telephone installed in the mansion s telegraph room -
Edison perfects incandescent light bulb
Thomas Edison perfects the first commercially practical incandescent light bulb. -
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. -
First electric trolley line, Richmond, VA
The first paid customer on the famous electric trolley in Richmond, Va, was William A. Boswell who paid Conductor Walter Eubank $.05 to get on car No. 28 -
Sherman Antitrust Act is passed
the first measure passed by the U.S. Congress to prohibit trusts. -
Carnegie Steel Company is formed
Carnegie organizes several of his steel companies into Carnegie Steel. -
J.P. Morgan forms U.S. Steel
United States Steel Corporation was the largest business enterprise ever launched, with an authorized capitalization of $1.4 billion.
