O, .0.^ %^X<^ IMAGE EVALUATiON TEST TARGET (MT-3) / o {/ ^' c^ V ^ ''^' ^ //,. ^^ fe L-^^ 1.0 I.I - IIIIIM |50 ""'=^ ■40 llllM 112.2 12.0 1.8 1 1.25 U 1.6 •^ 6" ► ^ <^ /a e. W a, '^ M .^ ^l / 7 /A Photogra{jhic Sciences Corporation 23 WEST MAIN STREET WEBSTER, N.Y 14580 (716) 872-4503 CIHM/ICMH Microfiche Series. CIHM/ICMH Collection de microfiches. Canadian Institute for Historical Microreproductions Institut canadien de microreproductions historiq'.'es 1980 Technical and Bibliographic Notes/Notes techniques et bibliographiques The Institute has attempted to obtain the best original copy available for filming. Features of this copy which may be bibliographically unique, which may alter any of the images in the reproduction, or which may significantly change the usual method of filming, are checked below. L'Institut a microfilm^ le meilleur exemplaire qu'il lui a 6t6 possible de se procurer. 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The ('anadiiui i'acilic Hiulvvuy Comi)aiiy was iucorpoiated in February, 1.S81, by Letterx Patont under tlic Great fSeal of (he Domiuion, for the purpose ol" ( onstructing a line ol' Uailvvay coiiiiectini>' the seaboard of British Columbia, on the Paiilic 0>'ean, with the Uailway system of Canada, and of oi)eratinj^ the same lor ever. The Charter conferred large ]>owers on the Company, including* the right of const rU' ting branches along the entire length of th.> bne, establishing lines of ships or steamers at its termini, and of coJistrurting and workiiig telegraph lines as well for {)ublic business as for tht' use ol the Company. The Ciiaiter was granted in lurtherance of a contract previously made with the Government on behalf of the Comi)any; and, under the authority of a statute of the Dominion Parliament by which the contract was conlirraed. And in consid. -ration of the completion and ])e]pi'tuai operation of the railway us stipulated in tljat contract, the Government of the Dominion granted to the Company a subsidy of $2'>,(J0O,000, and twmty-five million a(>res of land all tit for settlement. The Govt;rnment further granted tv> the Comi)any the use of over JOO miles of finished road, and of about 600 miles more now in course of constrMctioii, the ultimate cost of which is estimated at over :j;30,'>00,000, to become the absolute property of the Company upon the completion of the main line. The authorized capital ol the Company is ^-25,000,000, of which $5,000,000 have been subscribed and all paid up in cash, except the last instalment of 20 per cent, which is called up and payable on the TTlh February next. Under its Charter tht^ Company can issue Preference Stock to an amount not exceedinu' |lt»,000 per mile of its main line and ])ranches. It is also authorized to i.ssue Land Grant Bonds to the amount of $25,000,000, secured by mortgage on its entire Land Grant. And it may issue Mortgage Bonds to an extent not exceeding 110,000 per mile on it« whole line of railway constructed or acquired. Under these powers the Company has executed a mortgage on its entire land grant securing the issue of $25,000,000 of land grant Bonds, bearinir interest at 5 per cent. But it is not the present intention of th«' Company to avail itself of the ])Ower to i.ssue Bonds secured by mortg.ige on the Kail way. its revenues or franchises, although it retains the ])ower and right to do so at any time : the Directors believing that all the additional capital required for the completion, and for the first equipment of the line, will be obtained by the issue of its Ltlnd Grant Bonds and of its ordinary and preferred shares, thus placing the line of the Canadian Pacific Railway in the exceptionally advantageous position of being free from bonded debt. ..v.-.x-jtuK iu,fi;iiii ,.'_! w.iii •fiVMi.iTr.sJ4* 2 Thk Ma[n Line. The present eastern termini ol the road are the city of ()ltaw!\, the capital of the Dominion, and the (own ol Hroekv ille, on the St. Lawrence. The Une thence to Lake Nipissing, a total mileagv of ahout -90 mih>s, was acquired by purchase. From Lake .\'ipissini>-, where th' Canadian I'acilic proper begins, to Thunder Bay, on Lake Sup.-rior, a di.stance of about tJoO miles, the line is partly under construction ; and, it having been all but iinally decided to locate it by way of Sault Ste. Marie, skirting the waters of Lake Superior to Thunder Bay, it is conlidently expected that this \vhol»> section will be complett-d within the next iive years From Thunder Hay to Winnipi^g, a distance of about 4i!o miles, the line ia under construction by the tim'ernmeui.and lompletiou is promised by September next. From Winnipeg west to the l{ocky Mountains, a distance of about 800 miles, the Une is comph^ed lor nearly 200 miles; and the remaining 000 it is hop<>d will be completed and in operation by the end of next year. From the foot of the Mountains to Kaniloops — a distance of about 450 miles, approximately — the line is b.-ing surveyed, with good prospects of a shorter and better location being found than by way of the Yellow Head Pass. From Kaniloops to Port Moody — a distance of about t'lO miles — the line is being con.stru1\E. The t'nlii-f liiu* is to !»(> laid with steel rails ol ilh' ln-st quality, and all .inipoviant structun's arc to l)i' ol a iHTUuiinMit I'hiirac't'r. Can' has hfcii (akeii to:secUr(" tin' linhti'si |)()ssil)li' yratlieiits, tho.sf dii tlii' line lioni \Vinui[)eg to Thuiuli'f Hay h('ini>' only -♦• t'«'t't to thf mili-: in ilns i»'.si)i'i',t llic Canadian I'acilic will conipan* most i'avorahly with all otln-r trans-conlincMtal liufs. It is also to )>(• notod that the t'litirc mountain .sfction on the Canadian Patilif Kail way is fnihraood within a dislauce of alxnit (!00 mih's. whtnvas that oi till' Union Pa( ilii . cox pis a dislancf of 1"2.)0 miles, ami at a much hii»hor elovation. Amj)lt' provision has hfcn made against trouhlf from snow on the Prairie section, l)y making- the road-bed sulliciently hiyh lo almost entirely avoid cuttings. Cn.MtVCTKIf OK THK CdrNTlIY TUAVI'MWI'M). The urealer portion ol' the road s(nith and east ol Lake Ni pissing; traverses an old and well developed country, commanding- the immense lumhor tralho of I he upper Ottawa Valley- FrouiC'allaiuler westwards, and Ihrouglujut the wlude of the Lake Suj)erior sej'lion, the road runs through forests ol" valuahlo timher, which will furnish fuel, and lumher for building- purposes to settlers in the prairie section, and passes through most valuable mineral lands, abounding- in silver, iron and copper ore. The «U0 miles of road west of the Red River runs through one of the finest agricultural countries in the worltl, the settlement of which has been hitherto impeded by the want of railway facilities, but is now making rapid progress. It is estimated that 20,000 immigrants have jirrived in the .North- West during the past season. The country is a gently undulating prairie, well watered throughout. Wood is plentiful along the streams, and the soil is uniformly deep and rich, and fully equal to the best agTicultural lands in any part of the United States. Practical farmers reckon a moderate average crop at 28 bushels wheat. 49 barley, and 56 oats per acre. The wheat commonly grown, and known as " No. 1 hard," commands a higher price than the ordinary quality of wheat. The soil is also exceptionally favorable to the growth of potatoes, turnips, etc. Independent testimony to the agricultural capacity of the rountry will be found in the reports of the tenant farmers from the Old Country who visited the North-West two years ago, as well as in th letters of the Special Correspondents who accompanied the Governor-tleneral of Canada on his recent Western tour. The mean annual temperature of Winnipeg does not differ materially irom that of Chicago, St. Paul or Montreal, and the air is pure and dry. On the Western Section of the line, that part between the Rocky and Cascade Mountains has not been thoroughly explored, but coal is known to exist there, and the mountains may be found rich in gold and other precious metals. On the Pacific Slope, immense forests of valuable timber and extensive coal fields are known to exist. 4 Traffic. With all tho advantaj^.'s it will possoss of loss miK?a«?i% easier grades, of using its own rails from oc»':iu U> .xean. and probably free froiri bonded debt, the Canadian Pacitic Railway will be in a position to command its full share of th"^ tralKc from Chijia and Japan, which is now carried by the Union and Central Paii the Cliiiiii^M) & N(»itl.-\Vi--terii 8r),r>(il per inilo. On the Chicago, Milwaukee \ St. I'iiul 3,7;J7 On the Coi.tnil P:wific