The end of the 19th century was marked by the activity of numerous inventors. AG Bell invented the telephone in 1876, TA Edison patented the electric light bulb in 1879, the typewriter was invented in 1867, Westinghouse's alternating current (AC) in 1886, etc. More patents were issued by the U.S. government between 1870 and 1900 than during the entire period. throughout the period from 1790 to 1860. Additionally, the railroad boom, electrification, improved communications, telephone, and telegraph connected the United States to the rest of the world. It is no longer a culturally isolated rural country. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay The technological revolution led to rapid industrialization of America. Companies capitalized on inventors' ideas and brought them to market. New industries are emerging, such as steel production, oil refining, transportation, and finance. Capitalists known as robber barons made their names by buying up their competitors' businesses and consolidating them into trusts. Standard Oil Co. Inc. is America's leading petroleum production, shipping, refining and marketing company. Established in 1870 by John D. Rockefeller and Henry Flagler as an organization in Ohio, it is the largest oil purifier in the world today. Its history as one of the world's first and largest companies ended in 1911, when the United States Supreme Court ruled, in a landmark case, that Standard Oil was an illegal restrictive facility. Standard Oil dominated the petroleum products showcase initially through uniform reconciliation in the refining division and then, in later years, through vertical membership. The organization has been a pioneer in improving business confidence. The Standard Oil trust streamlined creation and coordinations, reduced costs and eliminated competitors. Rockefeller heads the organization as administrator. He remained a major investor, with the disintegration of the Standard Oil trust into 34 small organizations, Rockefeller becoming the most extravagant man in America, as the underlying pay for these individual efforts proved far greater than that from a single largest investor. organization. In 1882 his principal associate was John Dustin Archbold. After 1896, Rockefeller retired from business to concentrate on his generosity. This is when he gives his wealth to expand the network. He jumps at the chance to help using his riches. This left Archbold in charge. Other outstanding Standard Oil executives included Henry Flagler, designer of the Florida East Coast Railroad and urban resort areas. Henry H. Rogers, who built the Virginia Railroad. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a personalized essay. Amazingly, Rockefeller, chairman of Standard Oil, monopolized oil production by acquiring all other oils. companies that existed in the United States at the time, or forcing them to cease operations. By 1880, Standard Oil controlled 95% of the oil refineries in the United States and 90% of the world's oil refining. This caused gas prices to drop by almost 80%. Rockefeller also used horizontal and vertical integration of holding companies to expand his businesses, which later became a standard business practice of American corporations. In.