The Impact of Railroads on Industrial Development-easy
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Questions and Answers

Which industry pioneered the creation of trusts in the early 1880s?

  • Textile industry
  • Steel industry
  • Banking industry
  • Oil industry (correct)
  • What did stockholders receive in exchange for transferring their stocks to a trust?

  • Direct control over decision-making
  • Ownership of multiple companies
  • Profits of the combination
  • Shares in the trust itself (correct)
  • What did the creation of holding companies allow for?

  • Control over decision-making
  • Relocation of companies to New Jersey
  • Elimination of trusts
  • Direct ownership of multiple companies (correct)
  • Which industry was the principal agent of industrial development in the late nineteenth century?

    <p>Railroads</p> Signup and view all the answers

    What was the total railroad trackage in the United States in 1900?

    <p>193,000 miles</p> Signup and view all the answers

    What contributed to the growth of the modern corporation in the late nineteenth century?

    <p>All of the above</p> Signup and view all the answers

    Which industry was among the first to adopt the new corporate form of organization in the late 19th century?

    <p>Steel industry</p> Signup and view all the answers

    Who merged the Carnegie interests with others to create the giant United States Steel Corporation?

    <p>J. Pierpont Morgan</p> Signup and view all the answers

    Which method of consolidation involves a company taking over all the different businesses on which it relied for its primary function?

    <p>Vertical integration</p> Signup and view all the answers

    Which industry did John D. Rockefeller's Standard Oil dominate in the late 19th century?

    <p>Oil industry</p> Signup and view all the answers

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