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The first oil well named Drake Well is drilled in Pennsylvania. This well sparked the first oil boom in the U.S. Currently, there is a Drake Well Museum which is 22 acres of land surrounding the original well.
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The Transcontinental Railroad was finally completed in 1869, after nearly a decade of debate over where it should be located. A journey that used to take months to complete now only took a few days on the railroad. This railroad was a huge goal of President Abraham Lincoln.
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John Rockefeller, who established the Standard Oil Company in 1870, controlled 90% of U.S. refineries and pipelines. Although John was partners with his younger brother (William) and a group of other men, he was the president and largest shareholder.
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Although there was a lot of controversy revolved around the sole inventor, Bell was given an official patent for his telephone in March 1876. Bell used the money he received to establish other research centers across the world.
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President Rutherford B. Hayes was given the first telephone in the White House. The White House's phone number was simply "1". Today, many presidential recordings on the White House phone have been released.
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In Menlo Park, NJ, Edison built the first high resistance, incandescent electric light.
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Efficient rail transportation demanded a more uniform time-keeping system. The railroad companies decided that it would be best to divide the continent into four different time zones.
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The first electric trolley line was created in Richmond, VA. It was designed by Frank Sprague. The trolley was a huge success and proved to the public that electric traction was safe and reliable
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The Sherman Antitrust Act was the first Federal act which outlawed monopolistic business practices.
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Carnegie Still Company, created by Andrew Carnegie, was the most efficient steel producing companies at the time. Carnegie made a tremendous amount of money after invited Carnegie Still Company.
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J.P. Morgan formed the U.S. Steel - which is an American integrated steel producer with major production operations in the U.S., Canada, and Central Europe.. The cost was 492 million dollars
