Big Business and the West

First oil well is drilled, Pennsylvania

Aug 28, 1859

Edwin L. Drake and George Bissel were the first to create a functioning oil well, the Drake well, in Titusville, Pennsylvania

Transcontinental railroad is completed

May 10, 1869

A golden spike is driven to signify the completion of the transcontinental railroad in Promontory, Utah

Rockefeller founds Standard Oil

1870

Was a giant monopoly that transported, produced, refined, and marketed oil.

Bell patents telephone

Mar 7, 1876

Alexander Graham Bell patents the telephone, which became a revolutionary invention and was a new way to communicate.

First telephone on White House

May 10, 1877

President Rutherford B. Hayes embraced the invention and was the first to bring the telephone in to the White House.

Edison perfects incandescent light bulb

Oct 21, 1879

Although it took a year and a half to create, Thomas Edison introduces the incandescent light bulb and eventually lights up cities

First electric trolley line Richmond, VA

1883

Successfully tested in Richmond Virginia, this trolley became a practical way to travel and helped set the plan for the rest of the electric trolleys of the world

Railroads set up standard time zones

Nov 18, 1883

Four standard time zones are created in the US in order for railroads to have a uniform time schedule without any confusion

Sherman Antitrust Act is passed

Jul 2, 1890

President Benjamin Harrison passes this Act to ban trusts, which ruled out competition

Carnegie Steel Company is formed

Jul 1, 1892

Created in Downtown Pittsburgh, Carnegie created a steel company which became the biggest in the world at the time.

J.P. Morgan forms U.S. Steel

Mar 2, 1901

J.P. Morgan and attorney Elbert H. Gary founds U.S. Steel by combining it with three other companies in order to make it bigger