Big Business in the West

By VincentCaragliano
  • First oil well is drilled, Pennsylvania

    First oil well is drilled, Pennsylvania

    The plaque commemorating the event at the Drake Well Museum reads: On this site Edwin Drake drilled the world's first oil well,
  • Transcontinental railroad is completed

    Transcontinental railroad is completed

    The railroads developed into a big business controlled by a few powerful men. The economy of the United States benefited from the railroads
  • Rockefeller founds Standard Oil

    Rockefeller founds Standard Oil

    John Rockefeller was its president and largest shareholder.
  • Bell patents telephone

    Bell patents telephone

    Pace of business booms
  • First telephone on White House

    First telephone on White House

    Hayes has first phone installed in White House
  • Edison perfects incandescent light bulb

    Edison perfects 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.
  • Railroads set up standard time zones

    Railroads set up standard time zones

    At exactly noon on this day, American and Canadian railroads begin using four continental time zones to end the confusion of dealing with thousands of local times.
  • First electric trolley line, Richmond, VA

    First electric trolley line, Richmond, VA

    There were 10 street cars running
  • Sherman Antitrust Act is passed

    Sherman Antitrust Act is passed

    The Sherman Antitrust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.
  • Carnegie Steel Company is formed

    Carnegie Steel Company is formed

    Its headquarters were located in the Carnegie Building, an early skyscraper in Downtown Pittsburgh.
  • J.P. Morgan forms U.S. Steel

    J.P. Morgan forms U.S. Steel

    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.