Answer the following about J.P. Morgan’s business ventures, for 10 points each.
[10h] Following the bankruptcy of the Northern Pacific Railway, J.P. Morgan formed this company to consolidate Midwestern railroads before it was declared a monopoly in a 1904 Supreme Court case.
ANSWER: Northern Securities Company
[10m] J.P. Morgan locked several bankers in his library to help alleviate a 1907 event given this name. Earlier, he formed the Morgan-Belmont Syndicate to resolve another event given this name in 1893.
ANSWER: panics [accept Panic of 1907 or Panic of 1893 or 1907 Bankers’ Panic; prompt on Knickerbocker Crisis or financial crises or economic crises; prompt on runs on banks; prompt on economic depressions]
[10e] Resolving the Panic of 1907 involved merging the TC&I into a company producing this good. J.P. Morgan helped merge the companies of William Moore, Elbert Gary, and Andrew Carnegie that produced this good.
ANSWER: steel [accept U.S. Steel or United States Steel; reject “iron”]
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