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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?
(a) He gets injured.
(b) He gets promoted to a management position.
(c) He gets an office opportunity in accounting.
(d) He gets a college scholarship.

3. The triumvirate agrees to sell at once for what reason?
(a) Since it has no dollar investment in the transaction.
(b) They want to get rid of shares.
(c) It is the most logical plan.
(d) There are no better offers.

4. Margaret Carnegie's sister precedes her move to America and Annie Aitken provides them what?
(a) Low-rent housing.
(b) Rent-free housing.
(c) Employment.
(d) Food.

5. In 1849 when he takes the job, Carnegie is at the beginning of a period when capital, manpower and technology in the United States transitions from __________________.
(a) A new industrial world to an old agricultural world.
(b) An old industrial to a new agricultural world.
(c) An old agricultural to a new industrial world.
(d) An old hunter and gatherer society to a new agricultural world.

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. Coleman wants to raise the price of oil by doing what?

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

4. 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.

5. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.

Short Essay Questions

1. The partners pledge an investment to be made in installments paid when due or by the company as credit for dividends payable on the whole investment. Give an example of this pledge in action.

2. What does Daniel McCallum offer those in management?

3. Describe Carnegie's rise in business by 1865.

4. What does Carnegie do when Pacific dividend payments stop?

5. Describe Carnegie's investment in Keystone Bridge Company.

6. Who are Roberto Goizuetta and Any Grove?

7. What work do the Carnegies find in America?

8. By what is this dream not diminished?

9. What happens on July 15, 1848?

10. Describe the Columbia Oil Company.

(see the answer keys)

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