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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. From 1867 through 1872, Andrew Carnegie joins the expansion trend by manipulating what stock to promote $30 million in stocks and bonds in Europe?

2. Andrew Carnegie becomes known as the city's best _____________.

3. James L. Shaw of the Pacific and Atlantic Telegraph Company offers to buy how many shares of Keystone at three times its value, or $150,000?

4. Machines begin taking over production with energy from _____________ independent from windmills and waterwheels.

5. Margaret Carnegie's sister precedes her move to America and Annie Aitken provides them what?

Short Essay Questions

1. What agreement is made between the triumvirate and James L. Shaw?

2. How is Pittsburgh important at this time?

3. Why do the Carnegies leave Scotland?

4. What does Carnegie do in Europe?

5. How does Andrew escape the textile mills?

6. What does Daniel McCallum offer those in management?

7. Who is George M. Pullman? How do he and Carnegie become involved in business together?

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

9. The partners pledge an investment to be made in installments paid when due or by the company as credit for dividends payable on the whole investment. Give an example of this pledge in action.

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

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

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

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?

(see the answer keys)

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