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J.P. Morgan forms U.S. Steel
Most powerful banker in late 1800s. He used his banking profits to gain control of major corporations. Invested stock in troubled corporations. Because they were large stockholders; got seats on the board of directors. -
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 oil well is drilled, Pennsylvania
In August 28, of 1859, George Bissell and Edwin L. Drake were able to successfully make the first drilling rig on a well that was made mostly for producing oil. This was located on Oil Creek near Titusville, Pennsylvania. -
Transcontinental railroad is completed
The Transcontinental railroad was located in Utah, California and where they complete the nation’s first transcontinental railway. After failing it on his first attempt, Stanford tried again. For the first time in American history, railways linked together east and west. -
Bell patents telephone
A Scottish born teacher of the deaf. In 1876 he tested his “talking machine”. 1876- tests his “talking machine”. He wanted to transmit actual voices. Bell sat in one room and spoke in his machine
And his assistant was in the other room on the receiver. People could find out about prices or supplies by picking up the telephone, also allows people to communicate from far away with their voices. -
First telephone on White House
President Rutherford B. Hayes has the White House’s first telephone installed in the telegraph room. -
Edison perfects incandescent light bulb
Light bulb, phonograph, motion picture projector (silent movies)
Electric Power Plant- First in NYC. Supplied electricity to businesses and homes in a district. Replace steam powered engines with electric engines. -
First electric trolley line, Richmond, VA
The Richmond Union Passenger Railway, in Richmond, Virginia, was the first practical electric trolley (tram) system, and set the pattern for most subsequent electric trolley systems around the world. -
Sherman Antitrust Act is passed
The Antitrust Act passed in 1890 and outlawed and trusts that restrained trade. The law was difficult to enforce. -
Carnegie Steel Company is formed
The founder of this company is Andrew Carnegie. Carnegie Steel Company was a steel producing company in order to manage businesses at steel mills in the Pittsburgh. -
Rockefeller founds Standard Oil
Supreme Court ordered closing down the Standard Oil Company, saying that it was in violation of the Sherman Antitrust Act. John D. Rockefeller then entered the oil industry in the 1860s and in 1870, and founded Standard Oil with some other business partners.
