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Chapter 4

Terms and People to Know For Sections 1&2

CorporationBusiness owned by many investors.
StockShares in the business.
DividendPayments based on the corporations profits.
RefineryPlace where crude oil is processed into useful things.
ConsolidationUniting companies in the same industry to create more powerful businesses.
Andrew CarnegieSteel magnet.
John D RockerfellerFirst refinery.
TrustGreater control over many businesses.
EntrepreneurPeople who organize and manage businesses.
J Pierpont MorganUnited States Steel Company
Veritcal IntegrationExpansion into all parts of an industry.
Edwin L DrakeFirst oil well.
GaugeDistance between rails.
George PullmanFirst sleeper railroad car.
Trunk LineMajor railroad line.
Feeder LinesSmall railroad lines that feed into trunk lines.
Mass ProductionMaking goods in large quantities.
Mass ConsumptionUse of goods and services by many people.
RebateReturn of part of the normal fee.
PoolSeveral companies divide the available business in an area among themselves.

David Kemper

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