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. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?
(a) Sales skills.
(b) Organizational skills.
(c) Railroad management skills.
(d) Railroad technology skills.

2. Scott and Thomson hold stock in Carnegie's name for what reason?
(a) To avoid impropriety for Carnegie's one-eighth interest.
(b) They are afraid to hold stock in their own.
(c) Carnegie will not allow them to hold stock in anyone else's name.
(d) Carnegie is very well-known and trusted.

3. Pennsylvania Railroad buys from the Woodruff venture and offers what when borrowing?
(a) The credibility of a "strong corporation."
(b) A great deal of collateral.
(c) A discount on shipping.
(d) The credibility of a "big corporation."

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

5. A new competitor, ________________ , decides a lavishly decorated "rolling palace" may have an edge, and by 1867 he has forty-eight in service.
(a) Geoff M. Pullman.
(b) George M. Pullman.
(c) Gerold M. Pullman.
(d) Gary M. Pullman.

6. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?
(a) 75.
(b) 65.
(c) 85.
(d) 55.

7. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.
(a) 1868.
(b) 1862.
(c) 1858.
(d) 1852.

8. Managerial skill level reached over ______________ years exceeds that of the prior five centuries.
(a) Thirty-five.
(b) Forty.
(c) Thirty.
(d) Twenty-five.

9. He leaves his Pittsburgh home and iron business to live in what city?
(a) Boston.
(b) Los Angeles.
(c) New York City.
(d) Detroit.

10. Andrew begins to see the railroad industry as an opportunity to regain what?
(a) His sense of self.
(b) His understanding of business.
(c) The money his family has lost.
(d) The pride he thinks the Carnegies lost by emigrating.

11. Railroads need huge amounts of what to construct track and more as they expand?
(a) Capital.
(b) Trust.
(c) Equipment.
(d) Technological understanding.

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

13. 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) Employees.
(b) Managers.
(c) Executives.
(d) Stockholders.

14. During the nineteenth century American railroads are financed by bonds with over ____ percent of their earnings used to pay bond interest.
(a) 40.
(b) 20.
(c) 30.
(d) 50.

15. Andrew Carnegie's last bond financing sale comes in July, _______ when he sells $6 million in bonds to Sulzbach Brothers, who buy bonds reluctantly, with Carnegie's encouragement.
(a) 1882.
(b) 1902.
(c) 1892.
(d) 1872.

Short Answer Questions

1. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?

2. Carnegie's first installment on his one-eighth interest in Woodruff is $217.50 borrowed from the bank. The balance is paid by dividends in the venture's ________ year.

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

4. Carnegie sells Central patents for ____________ to Pullman and they exchange shares for no money to form the new company.

5. Margaret Carnegie's sister precedes her move to America and Annie Aitken provides them what?

(see the answer keys)

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