3. Carnegie contributes __________ of the partnership total $741,000 in original capital to the firm he names "Carnegie, McCandless and Company" and names the mill "Edgar Thomson Works" (ET) for the first president of Pennsylvania Railroad.

4. Andrew needs a strong leader to manage growth after what happens to his brother Tom?

5. The 1893 depression is caused by what?

Short Essay Questions

1. Describe Duqesne Steel.

2. What are the benefits of the Cyclops and Union Mills merger?

3. What causes the 1893 depression? What does Carnegie do at this time?

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

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

6. Describe Carnegie's partners at this time.

7. Describe the seven years of peace and prosperity in the North.

8. What does Frick's chairmanship mark?

9. What venture is formed between Tom Miller and Carnegie?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie corrects deficiencies at Cyclops, now Union Iron.

Part 1) What deficiencies exist at Cyclops? How does Carnegie correct these deficiencies? How important is his past experience when correcting these deficiencies? What do these corrections reveal or reinforce about Carnegie?

Part 2) How does this introduce rationality into pricing and a methodology for investment planning? Why is this important? How do Carnegie and his partners benefit from this?

Part 3) What can we as readers learn from Carnegie's actions surrounding his purchase of Cyclops, its initial merger with Union Iron and the final merger with Keystone Bridge Company?

Essay Topic 2

Carnegie forces out all partners but Schwab and brings in "young geniuses" who prove their merit.

Part 1) Describe this forcing out of the partners except Schwab. Why is Schwab kept? How is he unique from the other partners? How might these other partners have felt about being ousted from the company? Should they have been forced out? Why or why not?

Part 2) Why does Carnegie believe that bringing in "young geniuses" is the answer to his problems? How do these "young geniuses" prove their merit? How was this decision to bring in new people beneficial to Carnegie and his company?

Part 3) How has business changed at this time? What other decisions does Carnegie make that reflect this change in the steel business? How are these decisions and actions significant?

Essay Topic 3

A typical pattern in the 19th century is that a community builds up around a few pioneers who leave their homeland and then encourage friends and relatives to join them.

Part 1) How was this the case for the Carnegies? How did they benefit from this? How might this have affected communities in the U.S.?

Part 2) How would this affect one's ability to acclimate to the American culture? What might have been considered American culture at this time? Explain.

Part 3) How are these communities still seen today? Why do these ethnic communities still exist?

(see the answer keys)

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