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

Multiple Choice Questions

1. 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) Gerold M. Pullman.
(c) Gary M. Pullman.
(d) George M. Pullman.

2. Railroad receipts increase from $40 million in 1851 to _____________ fifteen years later in 1867.
(a) $3 billion.
(b) $3.4 milion.
(c) $34,000.
(d) $334 million.

3. In 1856, Scott advises him to buy what company as his first stock investment?
(a) Adams Express Company.
(b) Anthony Express Company.
(c) Aaron Express Company.
(d) Amos Express Company.

4. Except for Tom, the youngest who is in school, Will and Margaret go to work by weaving and shoe-binding, and Andrew as what in a textile mill?
(a) A bobbin boy.
(b) A shoe-binder.
(c) A weaver.
(d) An errand boy.

5. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?
(a) He trusts Carnegie.
(b) He is ignorant of this poor decision.
(c) He needs money.
(d) He believes it is one of his best ideas.

6. Andrew's opportunity to escape the coal and oil of textile mills comes through _________ asking him to become a messenger boy with a telegraph company in Pittsburgh.
(a) His Uncle Heathe.
(b) His Uncle Hogan.
(c) His Uncle Harold.
(d) His Uncle Henry.

7. Carnegie uses a similar strategy to exit the Woodruff Company by reorganizing it into ________________ with new stockholders and the triumvirate unstated.
(a) The Union Transport Company.
(b) The Central Transportation Company.
(c) The Atlantic Pacific Company.
(d) The Cross Continental Company.

8. Carnegie meets railroad's ____________ and initiates control of division operations when needed.
(a) Customers.
(b) Critics.
(c) Executives.
(d) Managers.

9. Carnegie becomes an expert in Pittsburgh's _____________ business.
(a) Commercial.
(b) Manufacturing.
(c) Mining.
(d) Financial.

10. 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 thousand.
(c) One hundred thousand.
(d) One million.

11. Andrew's job delivering telegraph messages puts him in touch with whom?
(a) Many irate individuals.
(b) Business producers on their way to national prominence.
(c) People of varying races.
(d) The President of the United States.

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

13. Business transactions at the time take place over what type of communication?
(a) Telephone.
(b) Telegraphic.
(c) Internet.
(d) Letter.

14. When his father dies in 1855, Andrew calls him what?
(a) A man of the world.
(b) A loser.
(c) An embarrassment.
(d) A man not of the world.

15. What railroad focuses capital investments that either increase revenue or reduce unit cost to justify them?
(a) Pennsylvania.
(b) CSX.
(c) BNSF.
(d) Union Pacific.

Short Answer Questions

1. What is the town's industry in 1835?

2. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?

3. Pennsylvania Railroad buys from the Woodruff venture and offers what when borrowing?

4. Carnegie is cautious in his investments by limiting them to what?

5. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?

(see the answer keys)

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