Andrew Carnegie and the Rise of Big Business Test | Mid-Book Test - Easy

Harold C. Livesay
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Coleman wants to raise the price of oil by doing what?
(a) Raising his workers' salaries.
(b) Raising his own salary.
(c) Raising the cost of shipping.
(d) Hoarding supply.

2. The Carnegies stay in their homeland as long as they can until conditions become intolerable in what town?
(a) Dublin.
(b) Dunfermline.
(c) Macon.
(d) Madrid.

3. _____________ is the focal point that straddles the east-west route where the Monongahela and Allegheny rivers join at the Ohio River.
(a) Pittsburgh.
(b) Youngstown.
(c) Cleveland.
(d) Philadelphia.

4. Who is the cornerstone of Carnegie's fortune, followed in 1861 by Columbia Oil?
(a) Woodruff.
(b) Pullman.
(c) Pennsylvania Railroad.
(d) Coleman.

5. James L. Shaw of the Pacific and Atlantic Telegraph Company offers to buy how many shares of Keystone at three times its value, or $150,000?
(a) Ten thousand.
(b) One million.
(c) One thousand.
(d) One hundred thousand.

6. Carnegie sells Central patents for ____________ to Pullman and they exchange shares for no money to form the new company.
(a) $2,000.
(b) $200.
(c) $20,000.
(d) $200,000.

7. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.
(a) Three-step.
(b) Four-step.
(c) Two-step.
(d) Five-step.

8. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?
(a) The money of others.
(b) Any of his own money.
(c) Manipulation.
(d) His connections.

9. With whom does Carnegie form Columbia Oil Company?
(a) William Coleman.
(b) Wallece Coleman.
(c) Wilson Coleman.
(d) Willard Coleman.

10. Andrew goes to night school in bookkeeping at what age?
(a) Fourteen.
(b) Eighteen.
(c) Twenty.
(d) Sixteen.

11. Railroad ______________ run the trains, maintain rolling stock and track, price and collect charges for service on passenger and freight trains running in both directions to meet demand.
(a) Managers.
(b) Employees.
(c) Stockholders.
(d) Executives.

12. What is the town's industry in 1835?
(a) Basket weaving.
(b) Hand weaving.
(c) Silk weaving.
(d) Knitting.

13. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?
(a) One third.
(b) One half.
(c) One fourth.
(d) One eighth.

14. In following years Carnegie gets at least ___________ for a net investment of $217.50 until 1870 when he sells out.
(a) $50.
(b) $50,000.
(c) $5,000.
(d) $500.

15. It is _______________ private business firm in the world and is called "the standard railroad of the world."
(a) One of the largest.
(b) One of the smallest.
(c) The largest.
(d) The smallest.

Short Answer Questions

1. The triumvirate agrees to sell at once for what reason?

2. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.

3. Carnegie meets railroad's ____________ and initiates control of division operations when needed.

4. Success is due to the first president, ________________, and the superintendent of the western division, Tom Scott, who brings Andrew Carnegie into the modern system of train control.

5. This old craft is destroyed in _______ years, along with Will Carnegie's job and his town's main source of income.

(see the answer keys)

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