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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.
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a golden spike was driven at Promontory, Utah, signaling the completion of the first transcontinental railroad in the United States.
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Rockefeller founded Standard Oil as an Ohio partnership with his brother William along with Henry Flagler, Jabez A. Bostwick, chemist Samuel Andrews, and a silent partner, Stephen V. Harkness.
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Alexander Graham Bell received a patent for the telephone; three days later, he and associate Thomas Watson successfully tested their invention.
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On this day in 1877, President Rutherford B. Hayes has the White House’s first telephone installed in the mansion s telegraph room.
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Thomas Edison perfects the first commercially practical incandescent light bulb. Using a filament of carbonized cotton thread, his first attempt at this design results in a bulb that lasts about 13.5 hours before burning out.
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also called "The Day of Two Noons", when each railroad station clock was reset as standard-time noon was reached within each time zone. The zones were named Intercolonial, Eastern, Central, Mountain, and Pacific.
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Siemens AG continued developing and testing electric trams and eventually on 16 May 1881, Werner von Siemens opened the world's first electric tram line in Lichterfelde near Berlin, Germany. 1923 view of Perley Thomas streetcars in Richmond, Virginia, the city where Sprague demonstrated his system in 1888.
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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.
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was a steel producing company created by Andrew Carnegie to manage business at his steel mills in the Pittsburgh, Pennsylvania area in the late 19th century.
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News of the industrial consolidation arrived to newspapers in mid-January 1901. U.S. Steel was founded later that year and was the first billion-dollar company in the world with an authorized capitalization of $1.4 billion. Morgan was a member of the Union Club in New York City.
