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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. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.
(a) Electric steam boilers.
(b) Oil-burning steam boilers.
(c) Wood-burning steam boilers.
(d) Coal-fired steam boilers.

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.
(a) Third.
(b) First.
(c) Second.
(d) Fourth.

3. Previously Margaret Carnegie's sisters, Annie Aitken and Kitty Hogan immigrate in __________, and write of good and bad times there.
(a) 1835.
(b) 1840.
(c) 1830.
(d) 1845.

4. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.
(a) $10.
(b) $20.
(c) $80.
(d) $40.

5. Erie and Pennsylvania Railroads each have ________ thousand employees trained into a disciplined workforce.
(a) Ten.
(b) Eight.
(c) Thirteen.
(d) Four.

Short Answer Questions

1. Business transactions at the time take place over what type of communication?

2. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?

3. With whom does Carnegie form Columbia Oil Company?

4. Carnegie and his triumvirate get a franchise from Pennsylvania Railroad with the benefits of existing poles and franchising from Trenton through to what?

5. Carnegie perfects business techniques to transform an iron and steel industry comprised of many small producers into what for the first time?

Short Essay Questions

1. Give an example of when Carnegie meets railroad's customers and initiates control of division operations when needed.

2. 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.

3. What does Carnegie learn at the Pennsylvania Railroad?

4. Describe the Pennsylvania Railroad in 1865.

5. Who is George M. Pullman? How do he and Carnegie become involved in business together?

6. What happens on July 15, 1848?

7. How does Carnegie determine he can profit from the boom in telegraphy?

8. Why do the Carnegies leave Scotland?

9. Describe the Columbia Oil Company.

10. How does Andrew escape the textile mills?

(see the answer keys)

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