The Grand Trunk Pacific Railway. Jan. 14.-President C. M. Hays wires the Minister of Railways offering to negotiate with the Government respecting the operation of the Hudson's Bay Railway. The proposition contemplated the construction of a Line of the G.T.P. from Saskatoon to the Pas Mission. Apl. 1.-The Company inaugurates its direct steamship service between Seattle, Victoria, Vancouver, Prince Rupert and Stewart with its steamers-Prince George and Prince Rupert. Mar. 31.-The Commissioners of the Transcontinental Railway-the Eastern Division under rental, when built, to the Grand Trunk Pacific Company-state that the total expenditure of the Commission during the fiscal year was $23,487,853-the total since the work commenced in 1904 being $95,406,697. The total grading done to date was 1,388 miles, the miles of track-laying 1,064, and of sidings 199, making a total of 1,263 miles of track laid. Total contracts for steel super-structures, bridges and viaducts awarded to date amounted to 49,084 tons, of which completed bridges totalled 16,598 tons and to be completed 32,486 tons. May 5. Mr. E. J. Chamberlin announces the early completion of new Lines into Regina and from Edson into the Coal-fields and immediate work on new Hotels for Winnipeg and Edmonton. May 29.-The President states that construction between Winnipeg and the Coast will probably be completed in 1913. Of the Line east, under Government construction, he could not speak. June 8.-An arrangement is made with Prince Rupert on the vexed assessment matter by which the Company agrees to pay $15,000 a year for ten years on local railway lands valued at several million dollars, to give the city 100 feet water-frontage, a number of pieces of city sections for parks, 60 acres for a cemetery site, and to start work at once on a costly dry-dock and station, machine shops, car-shops, round-houses, etc. This apparently constitutes Prince Rupert the definite Pacific terminus of the Railway. Aug. 16.-Regina is, officially, created a Divisional point. Aug. 28.-The contract for construction (410 miles) between Alderine in the Bulkley Valley and Tête Jaune Caché is awarded to Foley, Welch and Stewart-contractors for another 140-mile section. Sept. 25.-Mr. S. N. Parent, Chairman of the Transcontinental Commission, announces his retirement in view of the change of Government at Ottawa. A little later R. W. Leonard was appointed sole Commissioner-Messrs. W. S. Calvert, C. F. McIsaac and C. A. Young also retiring. Oct. 11. It is stated that the following Lines are at present in operation: Fort William, via Winnipeg, Saskatoon, Edmonton and Edson to Fitzhugh, 1,472 miles; Prince Rupert to Copper River, 100 miles; Canora via Yorkton and Melville to Regina, 151 miles; Tofield, Alta., to Mirror, 70 miles. Total, 1,853 miles. There is also a total mileage of about 900 on other sections of the Northern Division, which is in partial operation by construction trains. The following Lines are under construction: Fitzhugh, Alta., to Copper River, B.C., 618 miles; Regina, Sask., via Moose Jaw, northwest, 93 miles; Regina, Sask., to International boundary, 90 miles; Young to Prince Albert, Sask., 120 miles; Oban to Battleford, Sask., 50 miles; Mirror, Alta., to Calgary, 124 miles; Biggar, Sask., southwest, 50 miles; Alberta Coal Branch, 60 miles. Oct. 10.-At the annual meeting of the shareholders in Montreal, President C. M. Hays states that during the year track laying on the main line of the Western division has been extended from Wolf Creek to Fitzhugh, west of the Athabaska River in the Rocky Mountains, which is 1,027 miles west of Winnipeg and will be the divisional point for that section; that construction work was under full headway with night and day forces to Tête Jaune Caché on the Fraser River, beyond the Yellow Head Pass of the western slope of the Rocky Mountains; that it was expected that the track laying would reach this point, which is 1,094 miles west of Winnipeg, before the close of the year. On all portions of the Line which had been sufficiently completed, trains were in operation and a daily through freight and passenger service was established between Winnipeg, Edmonton and Edson. He announces that a chain of first-class modern hotels will be constructed, that a subsidy had been received from the Dominion Government for a floating dry-dock at Prince Rupert costing $2,200,000. On the Eastern Division-the National Transcontinental Line-a total construction of 1,228 miles of main track and 186 miles of side track was reported as laid and the remaining portions as being under contract. Hugh A. Allan retired from the Board and A. W. Smithers (Chairman), Sir H. M. Jackson, G. Von Chauvin, Colonel F. Firebrace, C. M. Hays (President), E. J. Chamberlin (General Manager), William Wainwright, E. H. Fitzhugh, W. H. Biggar, E. B. Greenshields, Hon. R. Dandurand, Hon. G. A. Cox, E. R. Wood, and J. R. Booth were elected Directors. Nov. 16.-The Judicial Committee of the Privy Council decides in favour of the Company in an appeal case involving about $10,000,000 and connected with the original and amended contract between the Government and the Company as to guarantees. Owing to a decline in Canadian Government stock the guarantee arrangements did not provide sufficient capital, and the Supreme Court of Canada was of opinion that the liability on the part of the Government was a secondary liability only as guarantors, and that it rested with the Company to issue additional bonds which the Government was to guarantee. Lord Robson, in delivering the judgment of the Privy Council, states that Their Lordships were unable to accept the interpretation of the Supreme Court and would advise that the Appeal should be allowed. Dec. 5. Royal Assent is given to a Parliamentary enactment extending the Charter and Contract of the Company, giving it to Dec. 1, 1912, to finish the Prairie section and till Dec. 1, 1914, to finish the Mountain section. The Government retains the power to further limit the period for completion by Order-inCouncil. Dec. 19.-Mr. Chamberlin states at Winnipeg that on the Main Line the steel is laid 1,076 miles west of Winnipeg. Dec. 29.-The announcement is made that 98 of the Company's new stations, out of the 150 contracted for in the spring, have been opened, that 27 are under construction, and that the balance will be completed early in 1912. Dec. 31.-In connection with the Grand Trunk re-organization of the Executive certain Grand Trunk Pacific changes took placetogether with some other appointments during the year: 2nd Vice-President 4th Vice-President William Wainwright. Montreal. Chief Freight and Traffic Manager.. C. E. Dewey ...Winnipeg. ..... from Watrous to Edmonton.. N. B. Walton...... Wainwright. District Passenger Agent... W. J. Quinlan Winnipeg. Mar. 31.-The total expenditure on Canadian Canals for the fiscal year is stated at $3,875,978; the traffic through the Canals for the Season of 1910 at 42,990,608 tons or an increase of 9,269,860 tons. Mar. 31.-The Dominion and Steamship subsidies for the fiscal year 1911-12 are estimated at $2,053,767-including $600,000 the Canada and Great Britain route. on Mar. 31.-The registered Canadian vessels in the year number 7,904, with a tonnage of 750,929; the British tonnage of 1910 is 12,319,650, and the next in National order is Germany with 2,959,933. Mar. 31.-The Government Railway Expenditure of the fiscal year is stated at $36,301,979, of which $24,760,029 is charged to capital, and of the latter amount $23,488,208 is for the National Transcontinental, $184,149 for the Hudson's Bay Railway, and $227,563 for the Quebec Bridge. Mar. 31. The earnings of the Intercolonial Railway (Government line) for the fiscal year are $9,863,783, the working expenses, $9,595,976, the surplus $267,806. June 13.-It is announced that J. J. Hill and the Great Northern have purchased the Charter of the Alberta Central Railway, running from the border to the Northern limits of that Province. June 30.-The Railway business of this fiscal year is given in the following table from official sources: June 30.-The total operating mileage of Express Companies in Canada is stated at 27,585 for the fiscal year; the gross receipts from operation at $9,913,018, less expense privileges of $4,553,861, and operating expenses of $4,151,227, leaving a net operating revenue of $1,207,928, and an actual balance for the year of $683,664. June 30.-During 1911, $61,650,300 is added to the stock issue of railways operating in Canada, and $56,741,214 to funded debt-making a total of $118,391,514. These additions bring the aggregate capital liability up to $1,528,689,201. Aug. 10.—It is announced that a contract for the construction of the first section of the Hudson's Bay Railway from The Pas to the Thicket Portage, a distance of 185 miles, has been awarded to J. D. McArthur, whose tender amounts to little more than three million dollars and is well within the estimate of probable cost, according to the Government's survey. Dec. 31.-The following table of traffic cars illustrates the Railway efforts to keep pace with Western development: Dec. 31.-For the calendar year the aggregate of freight passing through Canadian Canals is 38,030,353 tons or a decrease of 4,960,255 tons from 1910. Of the total 5,389,070 is Vegetable produce, 28,716,457 tons Mineral produce. The total of Canadian Wheat passing through the Sault Ste. Marie Canals is 63,641,000 bushels. 1 XIII.-FINANCIAL INTERESTS OF THE YEAR. Jan. 1.-The Weyburn Security Bank, lately the Weyburn Security Com Jan. Feb. pany, commences business at Weyburn, Sask., with Branches at 1. It is stated that Canadian Banks have $47,000,000 of authorized 1.-A Banquet is tendered Hon. George A. Cox, President of the Canada Life Assurance Co., in honour of his, 50 years' service to and for that institution. Mar. 30.-Mr. J. W. Mills, of the North America Life, is quoted as saying that lapsed Life policies in Canada total 60 millions a year. June 12. Sir Edmund Walker, President of the Canadian Bank of Commerce reads an important Paper on Canadian Banking before the Institute of Bankers, London. . Sept. 23.-R. P. McLennan, President of the Bank of Vancouver, states in Toronto that this new institution is making good progress and that French interests have taken a $250,000 block of its capital. Oct. 17.-La Banque Internationale du Canada, organized by Mr. Rudolphe Forget and other Montreal capitalists, with the money and financial interests of Paris, France, chiefly concerned, opens at Montreal with $10,000,000 of authorized and subscribed capital-$7,675,000 taken up in France and $2,325,000 in Canada-and $1,000,000 of this paid-up. J. Godfrey Bird, late of the Bank of Toronto, is General-Manager and F. G. Ramsden, Inspector. Mr. Forget is President, R. Bickerdike, M.P., Vice-President and the Directors are Stanislas Badel, S. V. Chomereau-Lamotte, Georges Martin and Raoul Sautter of Paris, Sir George Garneau, Quebec and J. N. Greenshields, K.C., Montreal. Several Branches are at once opened. Nov. 1.-A circular issued by the President of the Union Bank of Canada to the shareholders explains the reasons for the proposed transfer of the Head Office from Quebec to Winnipegchiefly the fact of 245 branches of which 159 are situated West of the Great Lakes. Dec. 4. Sir E. S. Clouston, Bart., retires from the General Managership of the Bank of Montreal and is succeeded by H. V. Meredith, Assistant General-Manager. This Bank is also appointed Financial Agent in London for the City of Montreal. Dec. 31.-The fire losses in Canada during the year are estimated at $21,459,000 Dec. 31.-The Independent Order of Foresters have a record for 1911 of 33,963 applications for membership, $2,968,824 paid out in various Benefits, and $1,894,502 added to Accumulated Funds. Dec. 31.-The Bank capital issued since 1900 totalled $43,824,000 and the amount in 1911 was $11,000,000. Dec. 31.-Amongst the larger financial concerns organized during the year are the following: Dec. 31.-The Fire Insurance carried in Companies unlicensed to do business in Canada totals $191,038,071. Dec. 31. The Fire Insurance carried in Canada during 1911 includes a gross amount of Risks taken, $1,987,640,591, Premiums charged $26,742,544, net cash paid for Losses $10,937,159, net cash received for Premiums $20,572,180. The Canadian Companies Risks were 572,066,012; British Companies $998,101,547; United States and other companies, $417,473,032. Dec. 31.-The Life Insurance statistics of the year include an Assurance in Force totalling $621,402,672 in Canadian Companies; $47,977,074 in British Companies and $268,362,118 in American Companies. Other figures are as follows: Dec. 31.-The Business Failures in Canada during 1910 and 1911 were, according to Bradstreets, as follows: Dec. 31. The more important Bank appointments of the Year were as follows: Dec. 31.-The Bank Statistics of Canada at this date are as follows: |