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First oil well is drilled, Pennsylvania
The first oil well was drilled in August of 1859. The investors in the first oil company were rewarded when a former conductor completed the country's first oil well; the well that made America's petroleum. -
Transcontinental railroad is completed
This made transcontinental railroad travel possible for the first time in U.S. history. The two lines were connected in Utah, and that began a dramatic transformation of the West. Now, the resources of the West could be transported quicker- expanding the development of the Western economy. -
Rockefeller founds Standard Oil
Rockefeller and his associates created the Standard Oil Company that began to grow and become very successful. It controlled the majority of refineries in Cleveland within 2 years. A little over 10 years after it was created, the Standard Oil Company had a near monopoly of the oil business in the U.S. -
Bell patents telephone
The Bell patents telephone was created in March of 1876. This telephone revolutionized the way people communicate with one another, and over longer time and longer distances. -
First telephone on White House
President Rutherford B. Hayes installed the first telephone in the White House in 1877. When it was first installed, the phone number was "1". The phone recordings gave the public an insight of political figures' personalities. -
Edison perfects incandescent light bulb
This light bulb is an improved product that Edison made to his previous model. The light bulb looks very similar to the ones used in our houses today, even though Edison's is over a hundred years old. -
Railroads set up standard time zones
This was created so there was a more organized schedule for the times that trains would arrive and depart. The companies agreed to divide the continent into four standard time zones that were created in 1883, and are very similar to the ones we use today. -
First electric trolley line, Richmond, VA
The first electric trolley was invented in 1888. A trolley is a vehicle that runs on track laid in the streets, operated usually in single units and usually driven by electric motor. -
Carnegie Steel Company is formed
The Carnegie Steel Company was founded in Pittsburgh, Pennsylvania. This was the first inexpensive process that could be used for the production of steel. Carnegie also used his steelmaking profits for new technological innovations that would improve the efficiency of his mills. -
Sherman Antitrust Act is passed
The Sherman Antitrust Act was the first act passed by the U.S. Congress to prohibit trusts. A trust is an arrangement by which stockholders in several companies transfer their shares to a single set of trustees. The Sherman Act authorized the Federal Government to create consequences that would be given for making trusts in order to dissolve them. -
J.P. Morgan forms U.S. Steel
During this time, a number of businessmen were involved in the formation of the United States Steel Corporation, including Andrew Carnegie. Carnegie’s interests were bought for more than $492 million and put towards U.S. Steel.
