Andrew Carnegie and the Rise of Big Business Test | Final Test - Hard

Harold C. Livesay
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. The partners want Frick to exercise power without Carnegie. Why?

2. The 1893 depression is caused by what?

3. 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.

4. Frick's chairmanship of the Carnegie Company marks a difficult period in its history starting with what strike in 1892 and a four year depression from 1893.

5. As mills become more efficient, the need for raw material continues with deposits from _______________________.

Short Essay Questions

1. Describe Carnegie's partners at this time.

2. What is a second dimension necessary to effect this integration?

3. What does Frick's chairmanship mark?

4. Describe Duqesne Steel.

5. Who is Homestead? How does Carnegie deal with Homestead?

6. What happens when Carnegie goes to Scotland?

7. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?

8. Describe Carnegie's replacement of equipment.

9. How is Rockefeller involved in Carnegie's business?

10. Describe the firm and the new mill.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Woodruff is the cornerstone of Carnegie's fortune.

Part 1) What is Woodruff? How has Carnegie's fortune grown up to this point? How does it become the cornerstone of Carnegie's fortune? How does this then lead to Columbia Oil?

Part 2) What important decisions does he make regarding these two companies that make them the cornerstone of his fortune? How do these companies lead to future growth in his wealth? Does he make a good decision by getting out of the oil business, investing in other businesses and finally ending up in the steel business? Explain.

Part 3) How do the decisions you have made in the past affect you today? How much of an impact will the decisions you make today have on your future? Do you believe that Carnegie's decisions were well-thought out or based on instinct and experience? Use the text to support your decision. Are most of your most influential decisions and actions based on organized plans or on your own instinct and knowledge?

Essay Topic 2

Andrew Carnegie emigrated from Scotland.

Part 1) When and why did he emigrate from Scotland? Describe his life upon arriving in the U.S. How did it compare to the lives of other immigrants?

Part 2) How did his family adjust to life in America? How did this affect Andrew? When did he get the opportunity for advancement? How was this a case of being in the right place at the right time?

Part 3) What might it be like to be an immigrant today? Might it be easier or harder to adjust to American life? Explain.

Essay Topic 3

Carnegie and George Pullman make "The Pullman Palace Car Company" a joint venture.

Part 1) How does this joint venture come about? Is this a good decision for both men? Why or why not? What does this joint venture reveal about both Carnegie and Pullman?

Part 2) How does this venture affect the triumvirate? How does it affect other stockholders? How does it lead to the end of stock speculation? How does this end of speculation lead Carnegie in a new direction?

Part 3) Think of two companies you admire or whose products you enjoy. What would it be like if they joined forces? How would this joint venture affect them? How would it affect customers like yourself?

(see the answer keys)

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