Having introduced the first feature-length part-talkie film, The Jazz Singer in 1927, the following year Warner Brothers introduced the first all-talking feature film, Lights of New York, directed by Bryan Foy.
"The film, which cost only $23,000 to produce, grossed over $1,000,000. It was also the first film to define the crime genre. The enthusiasm with which audiences greeted the talkies was so great that by the end of 1929, Hollywood was producing sound films exclusively" (Wikipedia article on Lights of New York (1928 film), accessed 06-04-2012).
Lights of New York was shot at 24 frames per second, which became the industry standard.