Meantime there had been a great increase in the Traffic returns. The total tonnage of Freight carried in the year ending June 30, 1901, was 7,155,813; in 1911 it was 22,536,214. The number of Passengers carried increased in the same years from 4,337,799 with earnings of 1.93 cents per passenger per mile to 12,080,150 with. curiously enough, exactly the same ratio of earnings. Of the Freight carried Flour increased from 3,735,873 to 8,469,744 barrels; Grain from 32,927,468 to 111,169,982 bushels; Live-stock from 945,386 to 1,567,665 head; Lumber from 889,214,646 to 2.441,007,107 feet; Firewood from 204,818 to 298,345 cords; Manufactured articles from 1,954,386 to 5,759,344 tons; Sundry goods from 2,206,970 to 8,971,037 tons. Between 1901 and 1911 the C.P.R. mileage, included in Traffic returns, grew from 7,563 to 10,480; the mileage of other Lines worked was reduced from 732 to 291; the mileage under construction stood 60 and 983 on June 30th of these years respectively; the mileage of the Minneapolis, St. Paul and Sault Ste. Marie grew from 2,358 to 3,769 and of the Duluth, South Shore and Atlantic from 592 to 611the total of owned and controlled Lines from 13,347 to 16,137 miles.

Taking the creation of the original Transcontinental Railway at 2,900 miles this would mean the construction, acquisition or control of five Transcontinental lines by one Company in a space of 30 years. It may be added here in the matter of equipment that the number of locomotives owned in 1901 was 708 and in 1911, 1,637; the 1st and 2nd Class Passenger cars had increased from 662 to 1,689; the sleeping and dining cars had grown from 115 to 318; the Freight and Cattle cars numbered respectively 20,083 and 52,602. Meanwhile splendid steamship services had been established and maintained on the Great Lakes; a flotilla of steamboats placed on the inland lakes and rivers of British Columbia and on the Pacific Coast; ocean steamers of the highest and speediest type put on the Pacific to Australia, China and Japan and an ocean Line established on the Atlantic between Liverpool and Canada. The Pacific coast and river and lake steamers increased from 14 to 42, the Ocean steamships from 5 to 20.

A word must be said as to certain elements of strength in the C.P.R. which help to keep it the greatest railway system in the world in more ways than length of mileage. The fixed charges have risen very slowly despite the enormous expenses involved. In 1886 they were $3,492,600; in 1891 $4,664,493; in 1896 $6,783,367; in 1901 $7,305,835; in 1906 $8,350,544; in 1911 $10,011,071. A recently published comparison (1910) with United States lines placed the C.P.R. fixed charges at $954 per mile, the Great Northern at $1,123, the Northern Pacific at $2,279 and the Union Pacific at $2,795. Another unique feature in this Railway system is the ownership and control of a transcontinental line of magnificent Hotels-the Algonquin at St. Andrews, N.B., the Chateau Frontenac at Quebec, the Place Viger at Montreal, the Royal Alexandra at Winnipeg, the Banff Springs Hotel and several others in the heart of the Rockies, the Hotel Vancouver on the Pacific Coast, and the Empress at Victoria, B.C. Another source of revenue is the ownership of the Sleeping cars and of practically everything which can help to feed, supply, or facilitate transportation, across the Continent. In 1912 the Company created a Department of Natural Resources to control the administration of its remaining Western lands, its townsites, coal lands and coal rights, its mines at Hosmer, Lethbridge and Bankhead, its timber properties and operations in British Columbia, its great irrigation works in Alberta. Mr. J. S. Dennis was put in charge with the designation of Assistant to the President.

During these 30 years of development the C.P.R. had seen many changes in personnel though they seem to have been reduced to a minimum amongst the men at the top. Lord Mount Stephen retired from the Board in 1893, Lord Strathcona remained steadily on the Board and Executive, Sir W. C. Van Horne retired from the Chairmanship of the Board in 1910, Sir T. G. Shaughnessy is Chairman of the Board and President of the Company in 1912. Of the original Directors only Lord Strathcona and Mr. Angus remain. Others appointed in after years and who have passed away include Sir John Abbott, Sir George Kirkpatrick, Sir George A. Drummond, Sir R. G. Reid, Hon. Donald MacInnes and Hon. L. J. Forget. There were no representatives of United States interests on the Board in 1911 but in earlier years J. J. Hill, Levi P. Morton, J. W. Mackay, Clarence H. Mackay, R. J. Cross, George R. Harris, R. V. Martinsen and W. L. Scott held places.

Of those in charge of the management or control of Divisions and Departments of the Company Charles Drinkwater remained its Secretary from 1881 till his death in 1908; W. Sutherland Taylor was Treasurer and I. G. Ogden Comptroller for many years; Sir William Whyte, who was General Superintendent of the Eastern and Ontario Division in 1885, was a Vice-President in 1911; George M. Clark, K.C., was Chief Solicitor until 1901 when he was succeeded by A. R. Creelman, K.C., as General Coun

sel; Sir Thomas Tait held various positions until 1903 when he took charge of the Government Railways in Victoria, Australia; R. Kerr, C. R. Hosmer, George Olds, Harry Beatty, L. A. Hamilton, F. T. Griffin, James Kent, C. W. Spencer, H. Abbott were some of the older names in the service. The Board of Directors on June 30, 1911, was composed as follows: Lord Strathcona and Mount Royal, R. B. Angus, Sir T. G. Shaughnessy, Sir W. C. Van Horne, Sir Sandford Fleming, David McNicoll, James Dunsmuir, H. S. Holt, A. R. Creelman, K.C., Senator R. MacKay, W. D. Matthews, Sir E. B. Osler, Robert Meighen, C. R. Hosmer, Sir Thomas Skinner. The President and Chairman of the Company was Sir Thomas G. Shaughnessy, the four Vice-Presidents were D. McNicoll, Sir W. Whyte, I. G. Ogden and G. M. Bosworth. W. R. Baker, c.v.o., was Secretary and Assistant to the President.

HISTORICAL SKETCH OF

THE UNION LIFE ASSURANCE COMPANY

Life Insurance, in the evolution of the centuries, has assumed many phases and been productive of good in wide and varied forms. It was originally based upon benevolence and appealed to all who desired to ensure the well-being of their families under a system which made continued and accumulating yearly savings comparatively easy. In these later days of business intensity it has become a matter of practical investment, of keen commercial rivalry amongst Companies and forms of Insurance, of organized financial action in which vast amounts of money are involved and handled. Of all its many developments, ancient and modern, none are more historically interesting, however, than the Industrial form of which the Union Life Assurance Company has become the largest Canadian representative. It has arisen out of the inherent desire of the poorest person in Anglo-Saxon countries to be properly buried, or to have those dependent upon him laid suitably away after their lives are ended. In this respect it differs, primarily, from straight Life Insurance which looks after the welfare of the survivors, or that form of Endowment Insurance which has become a business investment for the future of the person insuring. Of course these elements of insurance frequently enter also into the Industrial branch but, in the main, it affords the poor man, the ordinary wage-earner, or workman, of Great Britain, the United States and Canada, an opportunity to save enough money by the regular payment of a few cents a week to ensure a hundred dollars or so upon the death of any insured member of his family circle.

The plan originated in the badly-managed Burial Clubs organized in many British cities prior to 1849; it extended to the Friendly Societies which at first suffered from grossly inadequate dues and did not ensure the results aimed at; it found earliest formal expression in the organization of the Industrial and General Life Assurance Co. in England in 1849 and its offshoot, the British Industrial Company-amalgamated with the Prudential Assurance Company-which was organized in 1848. The latter, in time, developed an enormous business with, in 1905, Premiums of £6,139,000 and an Assurance Fund of £23,974,000. The general British development of this business has since been equally conspicuous and the following figures-large as they are-do not

include the great collecting Friendly Societies which, after earlier years of difficulty, had won success and become Industrial Companies in all but name:

It

Following 1868 various attempts were made to start the business in the United States and, in 1875, the first policy was issued by a concern now known as the Prudential Insurance Company of America. Other Companies were started and, in 1880, four of them had $20,000,000 worth business on their books. was in the two following decades, however, that the marvellous extension of this form of Insurance in the United States took place and it is a noteworthy fact, stated by Mr. H. Pollman Evans of Toronto in an elaborate pamphlet published in 1908, that "not one regular Company transacting Industrial insurance on a level premium basis has failed in an experience of sixty years." According to the latest figures available there are in force (1906) in Great Britain and Ireland, Germany, Belgium, France, Australia, the United States and Canada, 55 million Industrial policies with an Insurance of 4,500 million dollars and a yearly income of 230 million dollars-the greater part of this latter sum being so much money saved from unprofitable or unproductive expenditure. The 1911 figures would, of course, be much greater. In the United States, during five-year periods, the progress of this form of Insurance has been as follows:

Industrial Insurance was tried in Canada upon several occasions before it proved really successful. The Confederation Life Association experimented with it in 1871 and 1872; the North American Life Assurance Co. tried it in 1881-4; the Metropolitan Life of New York commenced issuing policies for Canada in 1885 but did not press the business vigorously until 1894. In 1887 the London Life Assurance Company entered the field and has since made good progress; in 1891 La Canadienne Life Insurance Co. of Montreal commenced operations in the Province of Quebec

* NOTE. Premiums received and claims paid include the Ordinary Branch of those Companies transacting Ordinary as well as Industrial Assurance.