1914 Economy & Business Events — Verified Historical Highlights
1914 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to
- 01 Jan First Commercial Passenger Airline Service: On January 1, 1914, the St. Petersburg–Tampa Airboat Line commenced operations, marking the world's first scheduled commercial passenger flight. Piloted by Tony Jannus, the flight carried former St. Petersburg mayor Abram C. Pheil across Tampa Bay in a Benoist XIV flying boat, covering the 21-mile distance in 23 minutes. This pioneering service laid the foundation for modern commercial aviation. source: en.wikipedia.org
- 05 Jan Ford's Productivity and Wage Policy Transformation: On January 5, 1914, Henry Ford announced a significant increase in wages for his workers, raising the daily pay to $5 and reducing the workday to eight hours. This move aimed to reduce worker turnover, increase productivity, and enable workers to afford the products they were manufacturing, marking a pivotal shift in labor relations and industrial practices. source: josephallenpaine.com
- 14 Feb High Council of Labor formed in The Hague: On February 14, 1914, the High Council of Labor was formed in The Hague, Netherlands, to address labor issues and promote social welfare during a period of industrialization. source: en.wikipedia.org
- 01 Mar Hendrikus Colijn appointed director of British Petroleum: On March 1, 1914, Hendrikus Colijn, a Dutch politician and businessman, was appointed director of British Petroleum. Colijn served as CEO of the Bataafse Petroleum Maatschappij (BPM) from 1914 to 1922 and later became CEO of Royal Dutch Shell in 1925. source: en.wikipedia.org
- 08 Mar Taitung rail line expansion in Taiwan: On March 8, 1914, the Taitung rail line in Taiwan was extended with the addition of the Fuyuan and Wanrong stations, enhancing transportation infrastructure during the Japanese colonial period. source: en.wikipedia.org
- 21 May Greyhound Bus Company founded: The Greyhound Bus Company was established on May 21, 1914, in Hibbing, Minnesota, by Carl Wickman and Andrew Anderson. Initially operating as the Mesaba Transportation Company, it began as a small bus service transporting miners and workers. Over time, it expanded its routes and services, becoming one of the largest intercity bus companies in North America. source: greyhound.com
- 09 Jun German Ocean Liner Victoria Luise Runs Aground: The German ocean liner Victoria Luise encountered maritime difficulties when it ran aground at the mouth of the Elbe River, causing the ship to list. Fortunately, the vessel was successfully repaired and re-floated, avoiding a potential maritime disaster.
- 13 Jun Expansion of Thailand's Northern Rail Line: The Northern Rail Line in Thailand expanded its infrastructure by adding new stations, including Ban Pin, Ban Thung Lo, and Prachuap Khiri Khan, contributing to the country's transportation development.
- 15 Jun Expansion of Thailand's Northern Rail Line: The Northern Rail Line in Thailand underwent infrastructure development, adding new stations including Ban Pin, Ban Thung Lo, and Prachuap Khiri Khan. This expansion represented ongoing transportation modernization efforts in early 20th-century Siam.
- 04 Jul Panama Canal Opens, Connecting Atlantic and Pacific Oceans: The Panama Canal officially opened on July 4, 1914, allowing ships to transit between the Atlantic and Pacific Oceans. This monumental engineering feat significantly reduced travel time for maritime trade and military movement. source: britannica.com
- 31 Jul New York Stock Exchange Closes Due to European War: The New York Stock Exchange suspends trading in response to the outbreak of war in Europe, reflecting the global economic impact of the emerging conflict.
- 10 Aug Charles S. Hamlin becomes first Federal Reserve Board chairman: On August 10, 1914, Charles S. Hamlin was appointed as the first chairman of the Federal Reserve Board, overseeing the newly established Federal Reserve System in the United States. source: en.wikipedia.org
- 12 Aug Panama Canal inaugurated: The Panama Canal was officially inaugurated on August 12, 1914, allowing ships to transit between the Atlantic and Pacific Oceans. This monumental engineering achievement significantly reduced travel time for maritime trade and military movement. source: britannica.com
- 13 Aug Greyhound Bus Line founded: The Greyhound Bus Line was founded on August 13, 1914, in Hibbing, Minnesota. It began as a small bus service and eventually grew into one of the largest intercity bus transportation companies in North America. source: britannica.com
- 15 Aug Panama Canal opens: On August 15, 1914, the Panama Canal officially opened for business with the passage of the American steamship SS Ancon, significantly reducing maritime travel distance between the Atlantic and Pacific Oceans. source: americanhistory.si.edu
- 05 Sep Canadian Mint Gold Coin Restriction: The Canadian government issued a proclamation prohibiting the mint from issuing gold coins, likely a wartime economic measure to control currency and resources during the early stages of World War I.
- 04 Oct Colorado mine strike inquiry initiated: An inquiry into the Colorado mine strike was initiated on October 4, 1914, addressing labor disputes and conditions in the mining industry. This event highlighted the tensions between labor and management during this period. source: colorado.edu
- 19 Oct US Postal Service Introduces Automobile Mail Delivery: On October 19, 1914, the US Postal Service began using automobiles for mail delivery, marking a significant modernization in postal services. This innovation aimed to improve efficiency and speed in mail transportation across urban areas. source: postalmuseum.si.edu
- 28 Nov New York Stock Exchange Reopens During World War I: The New York Stock Exchange reopened on November 28, 1914, after a four-month closure due to World War I, resuming trading with a focus on war-related industries. source: nytimes.com
What happened in 1914?
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