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The industrial age

Terms in this set (41)

Consolidation
the practice of combining separate companies into one
Railroad Barons
powerful and aggressive businessmen who controlled the nation's railroads
standard gauge
the uniform width of 4 feet, 8.5 inches for railroad tracks, adopted during the 1880s
rebate
discount or return of part of a payment
pool
a group sharing in some activity, for example, among railroad barons who made secret agreements and set rates among themselves
Model T
The first mass produced automobile
assembly line
a system with machines and workers arranged so that each person performs an assigned task again and again as items pass before him or her
mass production
production of goods in large numbers through the use of machinery and assembly lines
coperation
business in which investors own shares
stock
A share of ownership in a corporation.
shareholders
A person who invests in a corporation by buying stock and is a partial owner
dividend
a stockholder's share of a company's profits, usually as a cash payment
Trust
a combination of firms or corporations formed by a legal agreement, especially to reduce competition
Monopoly
total control of a type of industry by one person or one company
merger
Combination of two or more companies into a single firm
sweatshop
A shop or factory where workers work long hours at low wages under unhealthy conditions
trade union
organization of workers with the same trade or skill
collective bargaining
discussion between an employer and union representatives of workers over wages, hours, and working conditions
Strikebreakers
person hired to replace a striking worker in order to break up a strike
injunction
An order which legally prevents something
George Westinghouse
Invented the air brake for trains.
Eli H. Janney
Invented Janney car couplers
Gustavus Swift
invented the refrigerated railroad car
George M. Pullman
Inventor of the sleeping car
Cyrus Field
American businessman who laid the first telegraph wire across the Atlantic. This cut down the time it took for a message to be sent from Europe to American and vice-versa.
Alexander Graham Bell
Invented the telephone
George Eastman
invented the Kodak camera
john Thurman
developed the vacuum cleaner
Lewis Howard Latimer
improved the wire in the light-bulb
Granville woods
invented an electric incubator, railroad improvements, electromagnetic breaks and circuit breakers.
Elijah McCoy
invented a mechanism for oiling machinery
Jan E. Matzeliger
Invented shoe making machine
Henry Ford
invented the Model T and the assembly line
John D. Rockefeller
Created an oil refinery, and used horizontal integration.
Andrew Carnegie
Created a steel plant, and used vertical integration.
Sherman Antitrust Act
an 1890 law that banned the formation of trusts and monopolies in the United States
Knighs of Labor
A trade union who included everybody.
Terence Powderly
Leader of the Knights of Labor
American Federation of Labor
group that organized individual national unions of skilled workers
Samuel Gompers
leader of the American Federation of Labor
Eugene V. Debs
Leader of the American Railway Union, he voted to aid workers in the Pullman strike. He was put in jail.
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