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"MEN OF FISHY REPUTATIONS/' 
 
 ^ ■ 
 
 (Frovi ATONTREAL POST, ,6th Feb., ,884 ) 
 
 There are potent hours in the history of nat.ons that hare 
 a mighty iniluence in shaping their future destiaies. Such a 
 "strong hour" as Sehiller says, is now upon the ])ominion, and 
 the action of the present Parliament in regard to granting the 
 Canadian racilic further aid. after it has ignomoniously failed 
 to fulfil its contract, will have an influence on our future only 
 commensurate with the imposition of the Stamp Act by Great 
 Britain on her Colonies in he New World— an act that was 
 destined to despoil her of the lairest portion of h< r Empire, and 
 to found a power superior to her own. This 3'arliament, by 
 the acknowledged failure of the nicompetent Syndicate, has 
 now the golden opportunity of ridding the count 1^ fa grasp- 
 ing clique of overbearing oppressors, whose every act has 
 tended to the disruption of those Provinces from the confeder- 
 ation—a clique whose methods of doing business have caused 
 widespread dissatisfaction, and made it in an incredibly short 
 space of time most unpopular at home and discredited abroad. 
 In the management of the great public work entrusted to them, 
 they have shown how dange:ous it is for any country to dele- 
 gate almost sovereign pow rs to a body of untried men, mere 
 children in the great world of linance, and possessing no claim 
 to those statesmanlike qu ilitics which promote colonization 
 and render monopoly less oppressive by a genial personal 
 popularity. The men now forming the Syndicate have done 
 
much to divert tho tid., of irr.miirration from, not only tho 
 older Provinces, but from the British Empire, and tho hlows 
 they have inlliyted .,n the prosperity of this Dominion will not 
 be healed so long as they are retained in a position of supreme 
 power over that great highway of the nation, the Canadian 
 Paciiie. As iinaneiers and eolonizers thev have been wei^-hed 
 in tho scales ofpublic opinion and have been found woefully 
 wantn.g. As railroad constructionists they have magnified tho 
 easy part cf the work into an heroic effort, but have carelully 
 shirked such portions as would entail serious outlay and test 
 their engineering caixicities. 
 
 The President only lately issUed a bombastic pronuncia- 
 mento, accusing the pr, ss of being antagonistic Let these 
 men look to their record and they will find the reason why 
 the press and financial world show a disinclination to believe 
 in the protestations of these truly eminent empirics. Has 
 there been one redeeming feature in their careers which would 
 warrant an implicit reliance on tho mere ipse dixit of that most 
 honorable man, the President, Avho for a brief space posed as 
 tho railroad Ca)sar of the Dominion ? When in business did 
 this shrewd trader give credit without laiowin- the antece 
 dents of those who applied ? Was he not aware, through agen- 
 cies, of the financial standing, antecedents, reputation and 
 habits of country merchants, oven in the remotest districts ? 
 Does he, then, imagine that the financial world and tie press 
 are wholly unaware that $8,000,000 of the rest of the Bank of 
 Montreal was taken by him while in the capacity of Presi- 
 dent, unknown to the Board ot Directors, and invested in the 
 St. Paul and Minneapolis Railroad, and that by a dishonorable 
 collusion with tho receiver of the road, false reports of its sta- 
 
I 
 
 
 tus \V(^' sont to IIolliuul for the purposo of dcpvossii lj- tho 
 stock which wns hon^-ht in :it ii incrc iiomiiial fiiiurc :* Is lio 
 not aware that the rccoivcr of the road al'tcr nccomi)li>hin'T 
 this discrcdital)h' work was refused his share in the profits, 
 and broiipht snit in the Court of St. Louis to recover it ! Has 
 he forgotten lliat Hie case was dismissed b(>caus(> the jud"-o 
 would not tMitertain a snit in a United States Court ol" jnstico, 
 bronuht l)y quarrellinn' si)eculators to divide booty? Ni.r can 
 ho foruvt that a uowcrrul clique ol the defrauded Uutcji bond- 
 holders tlirouiih ' threats of Ijriniiiiii; the matter befoie the 
 courts, (ompelled an extra dividend and the matter was hushed 
 up? Men with sU( h donl)tlul antecodents are not received 
 very cordially on (he London or (ontinental markets, more 
 especially when one of the Home L'ule members of Parliament, 
 nt the instan<e of ]\Ir. rarnell, declared on the Ilocn- nf the 
 House of Commons that the " men connected with the (\,„^^. 
 dian I'acilic Kailroad were mm of very fishy reputation^." 
 
 It was not the intrinsic merits of the Canadian Paciiic as 
 a stock investment that cnised it to be shunned as a socuritv, 
 hnt tho Jisli// rr/mf (if ions < 1' those who were coniuH'ted with it 
 that made it a very suspicious stock on the nnu'ket. And this 
 ancient and fishliko smell will clinu- to it so long' as certain of 
 the pnv-ent Syndi ate arc linked to it. Th(^ taking of a bank's 
 rest, to such a large amount, without the knowledg(^ of the 
 directors, caused much comment in Ibrancial circles and was 
 denounced in no nunisurod terms by th(^ press of London. 
 Journals here, with their usual 'amount of backwoods" self- 
 sufficiency, dealt lirrhtly with the subject and iraatrined that 
 as a consoqu(mce the world at large would regard such a very 
 reprehensible transaction in the same renal light. Did the 
 
$20,000 chock transaction add to the integrity and %in(ual 
 standinjr of thcso men > Did the evidoncc of Mr. George 
 Steph.Mi. that he. while President of the Bank of Montreal 
 gavii $20,000 to Mr. liunkin, who had no funds in the bank.' 
 and was //(,/ aimre to whnf purpose this large sum was to be 
 applM, tend to impress th,> public with his scrupulous sense 
 ol honor ^ Was it not universally known that this sum was 
 used to settle a criminal suit brou-ht by Mr. Monk, a stock- 
 holder of the Consolidate.1 IJank. n-Miust the directors, and 
 that the cashier of this bank was the brothep.in-law of one of 
 the directors ? J)oes the Dominion IWliament imaijine that 
 the forei-n world of money lenders are as apathetic to such 
 (luestional)le transactions as we are in Canada ? No, capital is 
 very sensitive, and the knowledge of such "incorrect capers " 
 put it immediately on guard. Had this Syndicate gone to 
 Europe with clean records, they would undoubtedly han^boen 
 moderately successful, but as it is, their " fishy reputations " 
 caused ignominious failure and made the financial world look 
 askance on all Canadian securities. 
 
 Have the more recent transactions of the.se mon been at all 
 to their credit ? Did the disreputa])le att(>mpt to squeeze Mr. 
 L. A. Senecal, who borrowed from them $200,000, on their pro- 
 mise to purchase the North Shore Koad, show them in an 
 enviable light as the promoters of a great public enterprise ? 
 They made a sudden and unexpected demand for the money, 
 imagining that he would be unable to p.y it, and failing in 
 doing so, obtain the property af their owni price. In this they 
 were mistaken. Mr. Senecal drove over to the Grand Trunk 
 offices to see the assistant manager, Mr. Wainwright. That 
 gentleman telegraphed for ex-Governor Smith, of Vermont, 
 
i 
 
 
 • 
 
 who alplvt'cl at tho Windsor Hotel that niyht. A lew hours 
 ufterv^'cls tho North 8hur.' was sold to tho Grand Trunk, and 
 tho next day, mpl!i to their Surprise, tho Syndicato roceivod 
 tho money th^'y^M^vafHod to Mr. tSonocal, 
 
 Tho Hon. Brip^ Harlow was not so fortunate in his 
 at.i'nlptod sale of tho South Eastern to theso peculiar linanciors. 
 I3y a4van<inij: money they tinvw tho not around him, and ho 
 was strang-led in tho end. But a crop of over a hundrod law- 
 suits a'^ainst*W|if South Eastern makes the Syndicato very 
 desirous of selling out at a libiMal discount the $2,000,000 
 worth of bonds ihey hold of that unhappy corporation. 
 
 When the Syndicate found they had not tlie means to em- 
 ploy the 800 men whom (hey brought at an iiu-lement season 
 to tho Lake Suj)i'rior region, was it either humane or honor- 
 able to desert these unfortunates and leave them, after 
 incredible hardships, to get back to their homes as i)cst they 
 could ? Six perished on the way, many were injured for life, 
 and now tho Montreal law courts ^»re full of suits l)rou'4-ht bv 
 these wronged men against the Company. 
 
 Does it become Mr. G-oorge Stephen, then, to cry like a 
 whipped child because tho press lays on him and his clique 
 the lash ? Or docs he imagine that European bankers aro 
 over anxious to invest in an enterprise run by men of such 
 " fish V reputation?" He says that only $27,000,000 iir^ re- 
 quired to finish tho road, but, as the clique havt: failed, let thcin 
 step down and out and hand the road over to thefjr.>v.'rninent, 
 who can appoint Mr. Vati Home and a board of engineers to 
 complete the work which, when finished, will then be the 
 highway of the people from Ocean to oc an, owned by the 
 people and run by the people for the common weal. The 
 strong hour is now on the Canadian Parliament, which has it 
 
• 
 
 in its power to rid us of this Syndi#te of fishy sgt|fc;lators, 
 which can only thrive by monopoly juid oppression. wC.niada 
 lias already given $G5,000,OaO te'"ftfOO,000 of acres toward 
 this g'l iMt enterprise. What havisifc^epe meniliven ? Nothing. 
 They have taken money wliuh slioiiM haS^ been devoted to 
 the construction of the road to invest iu'Otln-r enterprises and 
 thereby encountered the hostility of corporations with which 
 it was obviously their interest to have been ou fiiendly terms. 
 The Dominion never entrusted .these men with the public 
 funds tor the purpose of wrecking and scyM|ping railroads 
 and buying, lines m which ministers are m|lrested as the 
 price of their support in the Cabinet. 
 
 These gentlemen would have the public believe that they 
 have largely invested their owjtt private means in this enter- 
 prise. We have at present no evidence of this, but the palpable 
 fact exists that they have one and all built palatial residences 
 far more costly than that in which the late Cpmmodore Van- 
 derbilt lived when he possessed suflSi*ient means to have built 
 a Canadian Pacific lioad at his own (Expense. Therc^ is not a 
 mortgage lesiislered on any one of the mansions of the Syndi- 
 cate, Here is a pack of jwincely paupers applying for aid at 
 the portals of Tarliament ! Do the people intend to pamper an 
 oppressive, monopolizing clique, which has not, nor ever will 
 have, the confidence of the financial world? As they have 
 failed, let them retire and cease bringing discredit not only on 
 the road, but on Canadian securities abroad. They have tried 
 too much, and like the small but conceited hen, ha" e endeav- 
 ored to hatch out a square yard of (^u'gs, and lading are cack- 
 ling loudly for the Groverument inyubutor th come to their aid. 
 If the Government incub;aoi is to hatcli out the Canadian 
 Pacific eggs, the servicea^f the Syndicate then can be dispensed 
 with. The cliqu(^ however, with lis accustomed conciut, wil^ 
 crackle loudiy- -after receiAang enough money to build the road 
 from the Government, " Behold, alone we did it," and in 
 reward for their services claim to be knighted all round.