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This quiz consists of 5 multiple choice and 5 short answer questions through Triumph and Tragedy.

Multiple Choice Questions

1. By ________, the Pennsylvania Railroad runs 3,500 miles of track with 30,000 employees and $61 million invested.
(a) 1870.
(b) 1860.
(c) 1865.
(d) 1875.

2. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.
(a) Few.
(b) Hundreds of.
(c) Many.
(d) Quite a few.

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

4. The Cyclops and Union Mills merger reduces time and labor cost of moving material and eliminates middlemen by _________ integration.
(a) Horizontal.
(b) Circular.
(c) Repetitive.
(d) Vertical.

5. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?
(a) Customer interest.
(b) Train repairs.
(c) Train movement.
(d) Customer movement.

Short Answer Questions

1. What demand adequate cash flow and net income for operating expenses and a dividend sufficient to maintain and attract capital to grow?

2. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.

3. What problems does this steel company have?

4. What firms are formed and the Gilded Age develops in New York?

5. Frick's first acquisition is _____________, which is the most modern steel mill and keeps the Carnegie Company at the forefront.

(see the answer key)

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