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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. Carnegie buys his stock in Pullman selling shares in Central to other stockholders by not using what?

2. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?

3. Carnegie's first dividend check for ________ opens a whole new world of receiving cash from capital.

4. Except for Tom, the youngest who is in school, Will and Margaret go to work by weaving and shoe-binding, and Andrew as what in a textile mill?

5. _____________ is the focal point that straddles the east-west route where the Monongahela and Allegheny rivers join at the Ohio River.

Short Essay Questions

1. What does Andrew do from 1867 through 1872?

2. Who are Roberto Goizuetta and Any Grove?

3. How does Andrew escape the textile mills?

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

5. Describe Carnegie's investment in Keystone Bridge Company.

6. Describe Carnegie's rise in business by 1865.

7. Give an example of how the size and complexity of a railroad business requires creation of bureaucratic organization, structure, and policy to fit the needs.

8. Describe the informal investing triumvirate Carnegie formed with Thomson and Scott.

9. What are the jobs of the railroad managers?

10. What characterizes America? To what does this refer?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie's insistence on knowing the costs continues for his twenty-five years in the steel business.

Part 1) How and why does cost matter throughout Carnegie's career in the steel business, as well as previous business ventures? How might this compare to the importance of cost to other companies? Use the text to support your response.

Part 2) How has this focus on cost influenced other businesses? How does it continue to be important to businesses today? How does this focus on cost aid in the creation of big business?

Part 3) When you make important decisions, on what do you focus? What aspects of a decision are important to you? How does your decision-making process compare to Carnegie's?

Essay Topic 2

Carnegie leaves Pittsburgh for New York City.

Part 1) Why does he decide to make this move? How is this connected to his decisions surrounding his business? How does he benefit from this move and the people he meets upon arriving in New York?

Part 2) Do you believe Carnegie would have been as successful as he was if he had stayed in Pittsburgh? Why or why not? Why was New York City an important place to be at this time? Is New York City as important today? If so, why? If not, why not?

Part 3) In what are you interested? What is the best place to be for this interest? Would you consider moving to this place? Why or why not? How might your life change by making this move?

Essay Topic 3

The start of ET coincides with the Panic of 1873.

Part 1) What is ET? Why is it significant that the start of ET coincides with this panic? How does this affect Carnegie, his partners, and the investors?

Part 2) How does Carnegie deal with this panic? What decisions does he make? How much of an impact do these decisions have on his company? What do his decisions and actions reveal and reinforce about him?

Part 3) How would you have reacted if you had lived during the Panic of 1873? Would you have been as clear-headed and forward-thinking at Carnegie? Why or why not?

(see the answer keys)

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