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Tous les autras exemplaires originaux sont filmAs an commenpant par la premiAre page qui comporte une empreinte d'impression ou d'illustration et en terminant par la derniAre page qui comporte une telle empreinte. Un des symboles suivants apparaitra sur la derniAre image de cheque microfiche, selon le cas: le symbole —^ signifie "A SUiVRE ", le symbole V signifie "FIN". Les cartes, planches, tableaux, etc., peuvent Atre filmAs A des taux de rAduction diffArents. Lorsque le document est trop grand pour Atre reproduit en un seul clichA, il est filmA A partir de I'angle supArieur gauche, de gauche A droite. et de haut en bas, en prenant le nombra d'images nAcessaire. Les diagrammes suivants illustrent la mAthode. 1 2 3 4 5 6 MEMORANDUM. v^an nhm XHtiHc C/ Vniliua^, ■ <»> ■ Incorporated February, 1881, for the purpose of cons- tructing a line from Callander near Lake Nipissing, in the Province of Ontario, Dominion of Canada, to the Pacific Coast. It has since acquired lines east of Callander to Montreal, Quebec, etc., as described hereafter. The Charter confers on the Company, the right of con- structing branches along the entire length of the line, of estab- lishing steamship lines at its termini, and of constructing and working telegraph lines. The Company was subsidized by the Dominion Government to the extent of $25,000,000, in money, and 25,000,000, acres of land, and has had trans- ferred to it by the Government free of cost 713 miles of rail- way, built by the Government at a cost of $35,000,000. Of the main line 345 miles, from Montreal to Callander, together with the St. Lin, St. Jerome, St. Eustache, Aylmer, Brock- ville and Perth branches, aggregating 98 miles, were acquire d by purchase. The North Shore Railway, from St. Martin's Junction to Quebec, 159 miles, has also been acquired by the Company, thus giving it access to the important harbor and City of Quebec. The capital stock of the Company was reduced in 1885 to $65,000,000. Upon this amount the Dominion Govern- ment has guaranteed a minimum dividend of three per cent per annum for 10 years, from August 1883. In 1884 the Company took a perpetual lease of the Ontario and Quebec Railway, which includes the Credit Valley, the Toronto Grey and Bruce, and Atlantic and North- VVest Railways, by which it secures access to all the impor- tant centres of trade and agriculture in Ontario. The Com- pany pays under this lease five per cent on $9,590,000 n e Debenture Stock, and six per cent on $2,oco,ooc, Common St(.ck of the Ontario andtCtuebci:, and a rental of the Toronto Grey and Hriice Railway of .'•;: 140,000 per annum. At Owen Sound, Lake connection is made with the western section of the Canadian Pacific line at r<.rt Arthur, by means ..f first class Clyde-built steel steamships belonging to the Company. In the Session of 1884, the Parliament of the Dominion authorized a loan to the Coinp.my of $29,880,912, due May 1st, 1891, with interest at five per cent per annum, the money to be paid as the work of construction proceeded, the Com- pany in consideiation of the loan agreeing to proceed with the work of construction and to complete it by the end of May 1886. To secure re-[)a\inent of this loan a lien was created upon the entire property of the Company, including its land grant, .-ubject however, to the outstanding land grant bonds, and to existing mortgiiges on the line from Callander to Montreal. By legislation last year (1885) this lien was removed, the Company being authorized to i-,sue $35,000,000, five per cent First Mortgage bonds in lieu of the .$35,C00,CCO,unsold stock, which has since been cancelleil. The Government accepted^$ 20,000,000 of the bonds as security for a like amount of the loan, and for the balance of the loan $9,880,912, took a lien, subject to the outstanding land grant bonds, on the unsold lands of the Company, the principal of this balance of the loan, and in- terest thereon being payable out of the proceeds of the sale of lands. $15,000,000 (^3,000,000 sterling) of the First Mortgage bonds were sold in July 1885 by Messrs, Baring 15ros & Co. who issued the tollowing prospectus ir, relation thereto : — Canadian Pacific Railway Company. " IssiK' of £.'$.000,000 SterlliiH: 5 iKM- f'tiit. Forming part of a Total issue of $35,000,000 First Mortgage Debenture Bo reds. Messrs. Ilaring lirothcrs & Co. are prepared to receive application s for /"3, 000,000 Sterling First Mortga.ne Debenture- Honds^of the above Company, bearing interest at the rate of 5 per cent, per annum, from the ist. Jf.ly, 1885, payable by half- yearly Dividend Warrants, at their Counting House in London, on the 1st January and 1st July of each year. The Subscription List will be opened simultaneously in Amsterdam by Messrs. Hope iS: Co. The principal will be repaid on July I, 1915, and both ])rincipat and interest will be payable at the Counting House of Messrs Baring Brothers & Co. Trustees fir the landholders : — The Hun. Sir Chaki.f.s Tupi'Kk, K. C. .M. G., j'/Zj,"'' Ccmtiiissiontr for Canada. The Uir.iiT Hon. Lord Woi.vkkion, / f-iuaihial A^eitt:, for the Dominion of The Right Ho.n. Lord Revki.stoke, J Canada. Issue ])rice 91; per cent., payable as follows : — ^■5 i)er cent, on application. 20 (i (1 allotment. 20 (i (( I2th August. 20 tl tl 15th September 30 «f (t I5lh October. ^■95 per cent. Payment may be made in full under discount at the rate of 3 per cent, per annum, on any 'I'uesday or Friday. The failure to pay any instalment when due forfeits all previous payments. The proceeds of tiie Bonds now offered will be applied to the purposes set forth in the annexed Official Memorandum, which explains the position and prospects of the Comi)any. The Bonds will be in denominations of /'i.ooo, ^500, and ;^ioo. For the security of investors, the bonds may be exchant^ed for Rct^istered Certi- ficates at the Couutint^ House of Messrs. Baring Brothers & Co., ivhere a Register of Transfers will be kept ; Warrants for the Dividends being forwarded by poet to the registered address of the proprietor^ I0f)774 The subscription will be opened on Tuesday, the 2ist inst., and will be closed on or before Wednesday, the 22nd inst., at 4 o'clock j). m. A|)iilicatioMs nnisl lie acc(>..ip:iiiic(l by a deposit of 5 per cent., as per enclosed form, and in cases where it is not practicable to make any allotment, the amoiml deposited on ajiplication will be returned as soon as possible. Scrip Certificates to Hearer will be issued against Letters of Allointent, and bonds to Hearer, when rcaily, will be exchanged for fully paiil-up .Scti|). S, Bishof'SgaU Street IVit/iiii, 20tk July, 1S85. OFFICIAL M1:M(JKAN1)U.M. The Canadian Pacific Railway is built throughout on liritish territory ; when complete it will form a direct line from Montreal to the Pacific Ocean, and will have several lar;;e and important branches. The length oi the main line is 2,895 miles, and over the small portion uncompleted, the rails will be laid within two months. The Canadian Pacific Kailway. the only transcontinental route owned by one Company, will then become the shortest railway line across the Ni>rlh American Continent, as the following table of comparative distances will show : — Statute Miles. Main Line — Montreal to Port .Moody, all Kail route 2,895 From New \i>\V. to Port Moody, ?•/; lirockville and Canadian Pacific Kailway From New \"ork to San Francisco, 771/ Central and Union Pacific Kailways and shortest connecting lines through the United •''i^ti-- • .1-33I From Liverpool to Montreal 3043 From I.ivcrpof)! to New York 3.43' From Liverjiool to Port Moody, i/ii Montreal and Canadian Pacific Railway 5.93''^ From Liverpool to San Francisco, vid shortest connecting lines in the United Stales 6,7^12 From Liverpool to \'okohama (Japan), vLi Montreal and Cana- dian Pacific Railway '0,974 From Liverpool to Vrikohama (Jajjan), I'ia New Vork aud San Francisco 11,990 The Railway has been built under the supervision of the Dominion Govern- ment, which has subsidised it to the following extent : — By cash, ;^5,ooo,ooo. I!y 713 miles of Railway, costing about j^7,ooo,OO0. By 25 million acres of Farming Lands. The Bonds now offered form part of a total issue of §35,000,000, secured by a first mortgage on i>ropertics representing an expenditure of upwards of $100,000,000, viz : — Main Line frf)m Callander to Port Moody, 2, 548 miles. Branch Lines, 30S miles. Equipment. Steamers, in. c. *? ft It is au'rectl tliat ilic remainder of this issue, vi/., S2o,oco,ooo, shall he held iiiiiil i>9i by the 1) nrininn f'lOveriiineiu as security fir advances made to the Company, The Cnmi^any retain the r:>;ht (if disijiiNini^ cif the^e li-inds, hut it woukl nut lie ti> their advantage to do so, except at a hi^h preiniuni, as the Loan to the (loverr.nient hears hut 4 jier cent, interest, wliereas these lionds carry 5 per cent. Tlie proceeds of the Londs i\ow oifeied wi.l he applied to the payment for, or inirchase of, etjuipnient and Terminal fac'ilies and to the general purposes of the ( '<)m|)any, I'pon the completion and opening of the Main Line the Fixed Charges will be approximately as follows : — •S2o,coo.ooo (Jovcrniiient Loan, 4 per cct sSoo,ooo §15,000,000 First Mortgage lionds, 5 per cent 750,000 if3, 500,000 due Government Qnehec (account (,). M.( ). iN: ( ). Railway) 5 per cent 175,000 !?l,S23,oocCanada Central lionds and linking Fund,6 per cent 107,400 Rental Leased Ivines 77^.434 •?7.,6 10,834 There are also ^3,688,000 5 per cent Land Grant IJc^nds stiil outstanding ; hut they are not included in the ahove calculation, because the greater part of the intertst thereon is covered by deferred payments on lands already sold, and it is only reasonable to suppose that within a short time r,ll these linnds will be redeemed by the sale of land, of which the Company still own over 21,000,000 acres. The additional sum due to the 'iovernment (>^9 88o,()i2), and the interest charge thereon at 4 per cent, are al.so not includ^il in the fixed charges, as it is provided that both principal and interest shall he jiaid out of the nctt proceeds of the sale o( the Lands. As regards the earning cajiacity of the line to meet these charges, the gross i ncome of the first six months of the current year amounted to 83,272,000 as compared with •'32, 2iG,ooo in the corresponding period of 1884; the mileage operated on June 30th, 1884, was 2,408, and on June 30th. 1S85, 2,794. The nett revenue of the hrst five months of the current year has been ^830,000, and it is now calculated that the nctt result of the current year will exceed *2,400,ooo. With the main line comjileted and in full oijeration, it is e-.timated that the gross traffic for the first year will be not less than ."J 1 2,000,000, yielding a nctt ])r ifit of not less than ."^3,600,000. G OPKIJATIoXs F()!;TIIK VI:.\R KNDING DKC. ."Isi. IWo. Stiiteiiicnt ff h'i(nuii;;s fur the Year 1W5. From l'ii.ssi'nj.'tT.s " Freight " Mnils .''''. " Kx!,i-oss " I'lirli^r 1111(1 Slci'iiiiii; ( 'ars Mi.scclliiiuM.us, 'IVli urajili. ^v^c •':i'-'.Hr)0,'_>22.9K 4,Ksi,M(;.-,.r,H i;57,l")l.f)2 2fl,l'j(i OH Total laniingis .•?b,;!(lM,4i);i. 12 , STATF.MKNT ..i ( .l'i:iiATIN(, KXl'KNSKS i-oh tiik YKAH IWo. Coiiduciiii',' lraii.s|Mirtaiii)ii Maiiitciiaiict' of Way and StnicuiR'.s. 4'l,22."),^iil.71 •■Mil,:!:;o ;i4 Motive I'ower l,;»l.-,,2.-,n. H» iMaiiiicnaiice of Cars Parlor and Slee] ing Cars.. . Kxi)eiKS('.s of I.ake .Steainor.s General Expenses Total Expenses.. 3!»!l,(tH4.;J7 24,(M».s.()!i l(;."),4:!n.{)« 4iVJ.2N(.47 .•J'),M:{,27- Year i '.onds ; $850,000 beiiii^ the amount necessary with sinking fund to redeem the ist Mortgage 5 "/,, Canada Central Bonds, nmounting to $2,433,333 (Sinking Fund deposited with Government $1,560,000.) $973.333-33 2nd Mortgage 6 "/« Canada Central Mortgage Bonds. $3,500,000 due Province of Quebec for purchase of the Western Section of the Q. M. (). & O. Ky. The Canada Central 1st Mortgage Bonds are due Sept. 1st 1899, the 2nd Mortgage Bonds Nov. 1910. The Mort- gage to tile Government of Quebec is payable March 4th 1902, interest 5 "/o semi-annually. These mortgages apply only to th^^ purchased lines they cover, the Canada Central and the Q. M. O. & O., antl are not a charge on the Cana- dian Pacific proper. The acquisition of the North Shore, effected since the close of the year, involves an interest charge of about $200,000 a year. LAND GRANT. The Company has a Land Grant from the Dominion Parliament of 25,000,000 acres, in alternate sections of 640 acres each, within 24 miles of the railway on either side from Winnipeg to the Rocky Mountains. Under their Charter the Company is only bound to accept lands fit for settlement. The following shows the position of the land sales at December 31st 18S5. Acres. Acres. Total Land Grant 20,000,1)00 Sales to olst. December 188-j 3,7o7,()(l2 Less cancelled 280,(144 ;!,472,itl^ 21,.')27,!is-_' RECEIPTS :— ;i,472.018 acres sold f.n- §10452,302. LAXIJ GR.WT J50NDS. The CoiDijany issued $25,000,000 Laiui GratU Honcls. secured on the Land Grant. The following was the position of these Hduds at Dec. jist icSSs : ■'"'"■^' '••^■'^"^' .■5£.l,()(»n.(-K)o Dfposittd Willi till' (■lAvriiiiiciit .'is sfcinity uinhr the C'liitiiict, wiiliniit iniiTcst .\ tlif(irv(riiiii(iit uinifr llic Koaii Act, lt<^A, witlKuii interest. h !)()() 21,:W7,.V)0 Haiaiioe ' itsiandiiiL; iii huids .,1 public .*; :]x,l2 600 Again.t this the Company holds interest bearing obh"- gations for lands sold on dcfLrred payments amounting to $1,579,708. The 15onds bear interest at 5 V„ the principal being due I.St October 1931. Interest payable half-yearly on 1st April, and ist (October at the office of the Company in Montreal. New York or London. They are accepted in payment for lands at 10 "/« premium. ANNUAL MEETING second Wednesday in May. Books close in New York one ueek, and in London not less than two weeks before Meeting. For dividends payable February 17th, and August 17th, books close in Montreal and New York two weeks, and in London not less than three weeks before payment.^ Stock listed in Montreal, New York, London, Amsterdam and Herlin Since the close of the pc-riod dealt with in the above summary, a new agreement has been entered into with the Government of the Dominion, a .synopsis of which is given belo'A-. i 1 i jy- This agreement, in effect, provides that the Company shall, by the ist July 1886, repay to the Government in full, in CTsh, the amount of that portion of the debt secured by the pledge of the $20,C00,000 iMrst Mortgage Bonds, and that the Government shall then accept in full satisfaction of its claim for the balance of the debt, amounting to .V;.88o,- 912, with interest, lantls sufficient to cover the amount at the rate of $1.50 per acre. It also provides for tl( immediate cancellation r^{ the $8,996,000 of Land Grant Bonds now held by tiie Government; and for the ultimate cancellation of :lie remaining $5,000,000. When these Bonds have ali been cancelled, the $3,612,500 bonds outstanding in the hinds of the public, will be the only charge on the Com- pany's land grant of 14,734,667 acres. In jHirsuance of this agreement, the unsold balance of the 5 „/„ First Mortgage Bonds, authorized by ♦■^» Act of last year, amounting vo ;{;4, 191,500, was recently placed on the London Market by Messrs, Jiaring Bros. & Coy. From the proceeds of this issue, the Company was able on tlie ist May instant, to make a payment to the Government of over i^2,ooo,oco on account, and on the 1st July 1886, the re- mainder of the debt due to the Government will be paid.* The position of the Company on the 1st July next, the balance of the debt to the Government having then been paid, will be approximately as follows ; FIX I-:]) CAPITAL LIABILITIES. 1 St. Mortgage I5on(l8 .?;Jf),00(),(J()0 Canada Central Honds \ 823 ;3;j;j Province of (Quebec .1,5011,000 Leased lines capitali.sed at 5 "^/q i!l,5(i0,080 Total fixed liabilities 01,884 OLS Add ordinary Share Capital 06,00(»|(Hio Total Capital 8120.88 4,013 * This indebtedness has since been paid in full. I 10 ANNUAL FIXED CHARGES. .$35,000,01)0 1st. ;\Iortgage Bonds f)''/^ interest on § 1,750,000 •'?;],50i),000 due Province of Quebec, account Q. M. <>. & (). Hy. 5'^;„ intere.st on 175,(H)u 81,82:],;J3o Canada Central Bonds and Sink'g Fund 0"/^. 107,040 RENTALS AM) INTEREST. Ontario lines •:7.39,500 St. Lawrence and Ottawa Railway. 38,034 Manitoba Soutli-Westeni " 102,000 North Shore Railway 197,000 §1,078,034 $3,110,434 These fixed charges will represent 4338 miles of com- pleted railway ; a completed telegraph system ; $12,263,264 in cash on deposit with the Government to provide the guaranteed dividend of 3 '/„ on the Capital Stock of the Company for ;! years ; and about 14,734,000 acres of far- ming land.s, subject to $3,612,500 outstanding Land Grant Bonds as hereinbefore stated. MoKTitEAL, May, l)-i81. 8 CO to 1 i X 00 3 < w Q O O 6 11 GENERAL BALANCE SHEET. December 31st 188B. OdST OK HOA l). Main Line * in7,2.M ,4(1H 87 Ac(Hiiri(l I,incs 8,4:!(),;!41 Hi lirancli Lini\s i,m-;2K] rA\ NOTK Lines built Ijy Gnvl. not iii- eluded. KstiiniUfil cost. . $;!'>,()0(),0()0 KQUir.MKNT . Uolliiig fjiock 7,nr)8,288 68 Lalte SU.aniers 478,2.12 m Shops and Manliinery at and near Montreal ii07,7Sri 84 CONSTRUCTION I'LANT TOOLS AND OUTFIT HKAL KSTATE at and near .McHiiical ADVANCES and Exijondilure on Leased Lines. South Eastern Hallway 1,595,088 O;! St. Lawrence and (Jttawa K'y. 281,077 ]) Atlantic and N. \V. ii'y 218,12;i 54 Ontario Leased Lines I,21!>ni8 15 ACCOUNTS HECEIVAHLE MATERIAL AND SUPPLIES ON HAND. . DOMINION GOVT. GUAKAXT EE FUND. Amount uii deposit to guarantee .'! per cent, per annum on Capital Stock until August 17th, I8!« BALANCE DUE ON LANDS SOLD. Deferred Payments CASH ON DEPOSIT AT INTERE,ST CASH IN HAND NoTK— 21,527,082 acres of land un.soId valued at »2 per acre, •S43,005,0«4.. ' 1),:544,297 41 I3f),SI2 ;18 414,581 04 .•i,;ii;!,!K)0 2,i;io,i;io 1.580 707 l;f,2.38,2e3 87 <157,700,2()0 70 CAPITAL SCOCK. $fl!>,0t)O,0erthier 'J.n Ayhuer '' — llu'l to Aylnier 7.0 St. .Jerome " — Ste Therlse to St. Jerome l;)-*' St. Lin " — St. Liu .lunclion to St. Lin 12.4 St. Euslache " — Ste. Therese to St. Eustache t^.o Brockville '• — t'arleton Junction to Brockville 45 o Aluouia " — Sudbury to Alsionia (not in operation) !)(!.•> Buckingham " —liuekiiniliaul Station to Village 4.0 Atlantic & North Wist Section (not in operation 8.0 Western Dicisiini. Emerson Branch — iMuersnn t" Winnii)Ci;' .runction 64.5 Selkirk •' — Winnipeg to West Selkirk 22.0 Stonewall " — Air Line Junctiim to Stonewall 18.3 Gretna "' — IJosenfeld to Gretna 13. 1> Pembina Mountain liraneh— Wimiipeu- to Hoissevain 182.4 M . ba & South Wcslern— Winuii)eg to Holland 01. n Pac\lic JJiciniim. New We.itULiister Branch (under c. instruction) . L::.vsEii Li.nes. Ontario A Quebec Railwa}/. Mile Smith's Falls to Toronto Junction 211 Toronto to St. Thomas 116. Toronto to Owen Sound 12". Grangeville Branch— Streetsville to Orangevilie oL Elora Branch— Church's Falls to Elora 27 Teeswater Branch—* )ran!,'e,villc to Teeswater 00. St. Lawrcn.-'e Xi:u Youk. ■''y-L.HC.i)Tr Ekik.Pa. GKOKGK R. UAHHIS, ot Mos.sis. Blake Bros. & Co-, Bo^icn HlCHAUl) J. Cl{( »8S, ) "f -^l^^^^srs. ortou, Bli.s.s & Co.. New Yohk OFFICERS. .siH Mi;. Hon Mii. Mk (.KOlMiE .STI'l'HKN, Baut., President, \Vm. (.'. rA\ WmSK, Vi>:e- ['resident, .. CALKS. [)"dSK\V\TVA{.Sc:rrt,mj GKOKijE OLDS, General Traffic Manager, HK.NUV BHATTV, .Vaniiyer Sttamship Linetitl Lak ■^ ■ -LV,. WiVrYVW (icnural Uounnel, T. G. SHAUGH.NKSSV, Asd. (icnernl Manaijer. . . l.G.()Gin-:X,AHdit,jr '.. W. SUTHHRLANl) ■rAYLOK. Treasurer, W. WllYTL, Gen. Snpt East. Ontario ami quehec, .IXO, .AL KGAX, Geu.Supt. Wv.strrn Division, .. ILVRltY ABBOTT, Gen. Supt. l'arifi<- Divisiun, . J( »HX H. Me TA VISH, Land G-'.mnissbmer . . A. ('. HLXBY, I'lurhasiu'i A/jent HAURY .MOODY ^si:^. .]. KLXXKDY TOD i Co., A;jenls, C,:] William I Mauai/er af London Office and j Ivar of trans/em, W (Uaino MONTKEAL, do do do e Traffic, 'VoHosTO. MoNTltKAL. do do do Divisions, do Winnipeg. VANCOrVKK, B.C. WiNXII'EO. . . Montreal. licnis- n St., London, E.G. Street, New York. EXECUTIVE COMMITTEE. SIR (iEORGK STLPHKX, Baut. Mr. \V.M. C. VAN HOUNE. Sir DONALD A SMITH, K. C. M. G. " R. B. ANGUS. G KXHK' A L OFFICES MONTREAL. I f )l. It. Tost li.ltj f f1 h 14 ST. LAVVRKNC1<: & OTTAWA RAILWAY.— I'ascott. Ontario to Ottawa Ontario, 53 miles, liranch junction to Chaudicrc 5 miles, total — 58 miles. Chartered as hy Town & Trescot^ Railway Company May 19th 1850. Road opened May loth 1854. Sold mulcr foreclosures in 1866, and present Company organized; Chaudiere r- liranch built in 1871. ^St•«~ Ciumdnrr-Pftciftc- Rntlway '"^-W — Couipiuxy bj^-whfeh itis leHgeU,... " ATLANTIC .K: NORI'H-WICST RAILWAY.— Mile End, to Lachine. 8 miles completed. Surveys are made to Cliambl)- and St. Johns. Leased to the Ontario & Quebec Railway Company and lease transferred to the Canadian Pacific Railway Company. The line is now being extended to a junction with the Ontariu & Quebec Railway now in course of construction eastwards from Smith's l\alls, and thence to the bridge in course of erection across the River St. Lawic.ce near Lachine. When these works are completed, connection will be made on the south side of the St. Lawrence with the lines running south to New York and Boston, and east to the Maritime Provinces. MANITOBA SOUTH-WESTLRN RAILWAY.— Win- nipeg to Holland 91 miles ; Manitou, where it starts from the terminus of the Pembina Branch of the Cana- dian Pacific Railway to Whitewater Lake 80 miles, total 171 miles, steel rails. Incorporated by Act of the Dominion Parliament in 1879 to build a road from Winnipeg to Rock Lake. Charter amended in 1880 to extend the terminus to the Souris River, 312 miles from Winnipeg, The road is now working to Holland and Whitewater ■.