2. Carnegie works ___________ years at the Pennsylvania Railroad while he develops managerial skill, economic principles and personal relationships to become a successful manager, capitalist and entrepreneur.

3. What is the town's industry in 1835?

4. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.

5. Andrew's job delivering telegraph messages puts him in touch with whom?

Short Essay Questions

1. How does Carnegie determine he can profit from the boom in telegraphy?

2. 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.

3. What work do the Carnegies find in America?

4. What are the jobs of the railroad managers?

5. How do family members and friends help immigrants? How is Carnegie's family helped?

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

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

8. How is Carnegie cautious in his investments? How might this help him throughout his career?

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie invests in the Keystone Bridge Company.

Part 1) What is the Keystone Bridge Company? How is this investment significant? What investments and decisions lead up to this investment?

Part 2) Why might a company such as the Keystone Bridge Company be so important at this time? What connection does this company have with railroads and the telegraph?

Part 3) If Carnegie were alive today, in what types of companies might he invest? Why? If you were to invest in a company, which one would it be? Why?

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

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?

(see the answer keys)

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