History Ch 18 Flashcards
entrepreneurs
those who organized, managed, and assumed the financial risks of new enterprises
captains of industry
name used by admirers to describe entrepreneurs
trunk lines
four major railroad networks that emerged to connect the eastern seaports to the Great Lakes and western rivers
Andrew Carnegie
Scottish-born businessman who dominated the steel industry before selling his company in 1901.
J. P. Morgan
New York financier who dominated American railroading
Gustavus Swift
Chicago meatpacker who employed refrigerated railroad cars to distribute meat nationwide
Frank J. Sprague
Virginia engineer who introduced the electric streetcar system to Richmond in 1887.
John D. Rockefeller
Cleveland merchant who took over his competitors in the oil refining industry to build the Standard Oil Company
American Railway Association
association which divided the country into four time zones and adopted the modern system of standard time
transcontinental railroad
built from 1862-1869 by the Central and Union Pacific railroads, it was the first railroad to link the Atlantic and Pacific Oceans
Bessemer process
This process, developed in the late 1850s, made increased/mass steel production possible
Carnegie Steel
the largest industrial company in the world in the late 1800s-1900, did major steel projects around the US
US Steel Corporation
first billion dollar company, controlled most of the US steel business, combination of multiple steel companies
Titusville
location of the first drilled oil well, in PA, drilled by Edwin L. Drake
Standard Oil Company
John Rockefeller’s oil company which absorbed or destroyed competitors
