|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Small firms operate iron furnaces to smelt ore into _______ iron.
2. Only how many of the original nine partners remain?
3. What firms are formed and the Gilded Age develops in New York?
4. After this steel company's acquisition for _____ million bonds, Frick restructures all the related companies with Carnegie Steel Company, Limited taking over assets of Carnegie Brothers and Carnegie Phipps with a $25 million capital base, distributing to Carnegie 55 percent, Frick and Phipps both 11 percent each, 1 percent each to nineteen partners and 4 percent reserve for key staff.
5. Phipps buys flue-cinder at fifty cents a ton and sells puddle-cinder at ________ per ton to improve Lucy furnace product and save money.
Short Essay Questions
1. Carnegie's interest and insistence on cost-cutting leads him into more complex areas of manufacturing detail composition and chemistry. Give an example of this.
2. How does Carnegie rely on the McCallum system?
3. Describe the firm and the new mill.
4. What is a second dimension necessary to effect this integration?
5. What does Frick's chairmanship mark?
6. What does Schwab do for the business?
7. Why does Andrew not help Tom Scott? What are the effects of this decision?
8. Describe Carnegie's replacement of equipment.
9. How is Rockefeller involved in Carnegie's business?
10. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?
Write an essay for ONE of the following topics:
Essay Topic 1
Frick shares Carnegie's vision and drive but lacks a sense of humor and is self-righteous.
Part 1) Describe Henry Frick. What is the relationship between Frick and Carnegie? How does this relationship develop? How are both men affected by this relationship?
Part 2) What are the benefits and detriments of Frick to the Carnegie Company? In the end, do you believe Frick was a benefit or a detriment to Carnegie? Why?
Part 3) How does Frick allow his power to go to his head? How does this affect the decisions he makes about the Carnegie Company? Describe someone you know who has allowed power to adversely affect him or her. How can this be avoided? What is required in one's personality to avoid this egotism?
Essay Topic 2
J.P. Morgan purchases the Carnegie company.
Part 1) Describe the purchasing of the Carnegie Company by J.P. Morgan. What challenges and disputes lead up to this purchase? What do these problems reveal about Carnegie, Frick, and others?
Part 2) Does Carnegie make the right decision by selling the company to J.P. Morgan? Why or why not? The new company, U.S. Steel, prints $300 million worth of bonds for Carnegie. Why does he never see these? What does this reveal about him?
Part 3) J.P. Morgan congratulates Carnegie on being "the riches man in the world!" What do you think Carnegie thought of this? Use the text to support your response.
Essay Topic 3
Carnegie works for the Pennsylvania Railroad.
Part 1) Describe his time with this railroad company. How is this time significant in his career as a businessman?
Part 2) What are four important things he learns from working for the Pennsylvania Railroad? How are these things useful later in his life?
Part 3) Andrew receives several promotions. Why? How is this success foreshadowed earlier in the book?
This section contains 1,191 words
(approx. 4 pages at 300 words per page)