Question: When Karl Schwarzschild discovered his black hole solution in 1916, what term was coined for the phenomenon?
About the article "Black hole", section "Physical properties".

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In 1916, Karl Schwarzschild obtained an exact solution to Einstein's field equations for the gravitational field outside a non-rotating, spherically symmetric body (see Schwarzschild metric).
Using the definition formula_1, the solution contained a term of the form formula_2; where the value of formula_3 making this term singular has come to be known as the "Schwarzschild radius".
The physical significance of this "singularity", and whether this singularity could ever occur in nature, was debated for many decades; a general acceptance of the possibility of a black hole did not occur until the second half of the 20th century. 
Karl Schwarzschild () (October 9, 1873 – May 11, 1916) was a German physicist and astronomer.
He is also the father of astrophysicist Martin Schwarzschild.
He provided the first exact solution to the Einstein field equations of general relativity, for the limited case of a single spherical non-rotating mass, which he accomplished in 1915, the same year that Einstein first introduced general relativity.
The Schwarzschild solution, which makes use of Schwarzschild coordinates and the Schwarzschild metric, leads to a derivation of the Schwarzschild radius, which is the size of the event horizon of a non-rotating black hole.
Schwarzschild accomplished this triumph while serving in the German army during World War I.
He died the following year from the autoimmune disease pemphigus, which he developed while at the Russian front.
Asteroid 837 Schwarzschilda is named in his honor. 
In Einstein's theory of general relativity, the Schwarzschild solution (or the Schwarzschild vacuum), is a solution to the Einstein field equations which describes the gravitational field outside a spherical mass, on the assumption that the electric charge of the mass, angular momentum of the mass, and universal cosmological constant are all zero.
The solution is a useful approximation for describing slowly rotating astronomical objects such as many stars, planets and black holes, including Earth and the Sun.
The solution is named after Karl Schwarzschild, who first published the solution in 1916.
According to Birkhoff's theorem, the Schwarzschild solution is the most general spherically symmetric, vacuum solution of the Einstein field equations.
A Schwarzschild black hole or static black hole is a black hole that has no charge or angular momentum.
A Schwarzschild black hole has a Schwarzschild metric, and cannot be distinguished from any other Schwarzschild black hole except by its mass.
The Schwarzschild black hole is characterized by a surrounding spherical surface, called the event horizon, which is situated at the Schwarzschild radius, often called the radius of a black hole.
Any non-rotating and non-charged mass that is smaller than its Schwarzschild radius forms a black hole.
The solution of the Einstein field equations is valid for any mass "M", so in principle (according to general relativity theory) a Schwarzschild black hole of any mass could exist if conditions became sufficiently favorable to allow for its formation.where "Q" represents the body's electric charge and "J" represents its spin angular momentum. 
The Schwarzschild radius (sometimes historically referred to as the gravitational radius) is the radius of a sphere such that, if all the mass of an object is compressed within that sphere, the escape speed from the surface of the sphere would equal the speed of light.
An example of an object smaller than its Schwarzschild radius is a black hole.
Once a stellar remnant collapses below this radius, light cannot escape and the object is no longer directly visible.
It is a characteristic radius associated with every quantity of mass.
The "Schwarzschild radius" was named after the German astronomer Karl Schwarzschild who calculated this exact solution for the theory of general relativity in 1916. 
Einstein himself was pleasantly surprised to learn that the field equations admitted exact solutions, because of their prima facie complexity, and because he himself had only produced an approximate solution.
Einstein's approximate solution was given in his famous 1915 article on the advance of the perihelion of Mercury.
There, Einstein used rectangular coordinates to approximate the gravitational field around a spherically symmetric, non-rotating, non-charged mass.
Schwarzschild, in contrast, chose a more elegant "polar-like" coordinate system and was able to produce an exact solution which he first set down in a letter to Einstein of 22 December 1915, written while Schwarzschild was serving in the war stationed on the Russian front.
Schwarzschild concluded the letter by writing: "As you see, the war treated me kindly enough, in spite of the heavy gunfire, to allow me to get away from it all and take this walk in the land of your ideas."
In 1916, Einstein wrote to Schwarzschild on this result:Schwarzschild's second paper, which gives what is now known as the "Inner Schwarzschild solution" (in German: "innere Schwarzschild-Lösung"), is valid within a sphere of homogeneous and isotropic distributed molecules within a shell of radius r=R.
It is applicable to solids; incompressible fluids; the sun and stars viewed as a quasi-isotropic heated gas; and any homogeneous and isotropic distributed gas.
Schwarzschild's first (spherically symmetric) solution contains a coordinate singularity on a surface that is now named after him.
In Schwarzschild coordinates, this singularity lies on the sphere of points at a particular radius, called the Schwarzschild radius: formula_15 where "G" is the gravitational constant, "M" is the mass of the central body, and "c" is the speed of light in a vacuum.
In cases where the radius of the central body is less than the Schwarzschild radius, formula_16 represents the radius within which all massive bodies, and even photons, must inevitably fall into the central body (ignoring quantum tunnelling effects near the boundary).
When the mass density of this central body exceeds a particular limit, it triggers a gravitational collapse which, if it occurs with spherical symmetry, produces what is known as a Schwarzschild black hole.
This occurs, for example, when the mass of a neutron star exceeds the Tolman-Oppenheimer-Volkoff limit (about three solar masses).