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On August 28, 1859, George Bissell and Edwin L. 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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On May 15, 1911, the Supreme Court ordered the dissolution of Standard Oil Company, ruling it was in violation of the Sherman Antitrust Act. The Ohio businessman John D. Rockefeller entered the oil industry in the 1860s and in 1870, and founded Standard Oil with some other business partners.
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On May 10, 1869, a golden spike was driven at Promontory, Utah, signaling the completion of the first transcontinental railroad in the United States. The transcontinental railroad had long been a dream for people living in the American West.
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Carnegie began the construction of his first steel mill, the Edgar Thomson Steel Works in 1872 at Braddock, Pennsylvania.[1] The Thomson Steel Works began producing rails in 1874.[2] By a combination of low wages, efficient technology infrastructure investment and an efficient organisation, the mill produced cheap steel, which sold for a large profit in the growing markets of industrial development.
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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. It is an IEEE milestone in engineering. The Richmond system was not the first attempt to operate an electric trolley.
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1876: Bell Patents the Telephone. American inventor Alexander Graham Bell tested his telephone in 1876, calling his assistant to say "Mr. Watson, come here, I want to see you." On March 7, 1876, Alexander Graham Bell received a patent for the telephone.
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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. President Hayes embraced the new technology, though he rarely received phone calls.
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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. He later extends the life of the bulb to 40 hours.
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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.
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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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United States Steel Corporation, leading U.S. producer of steel and related products, founded in 1901. At the beginning of the 20th century, a number of businessmen were involved in the formation of United States Steel Corporation, including Andrew Carnegie, Elbert H. Gary, Charles M. Schwab, and J.P. Morgan.
