I . __.~‘_.-7.2 l Qi"- ‘été <2, _.,___.I _I-__..__.- _ _ .- _ _ .»~_‘-~..‘J§`J;' __ ~ .,;,.--__ For the Lar est ORN NU C :_ A I B __ I, VII- _ _ _ -\ f I _ I » ~ I- _ . .. _ I: ' _ I _ *I ` I I ' _ 2 ` _ -_.-'----"--r--'-` '- ~. _ ' - . --_ ~ _ 1 _ . .- . I- _ _ _ _ .~. I,_,_ __ .1§\u__._I_\I_IuI_._ I_II.I§ _ I _ _ _ _ _ _ .__ ._ _I.I -i;I, ___. 9 . _ pf I & _ I. _ ~. .1-~ _-_-_ _ _ , _ _ ‘_ '~.~~ . _ 'v : _._ ~“` '> ' ` 5 . ~ -_ ~» »-._ _ _ _,_ __ . _ ' ' #_-_-.-» r.__~_,». _.;_..-_ . _ _ ,. , __ I i ,’-‘ .¢ " . ,- ' . '_ ’ , .4 i ' ‘ ' »' _- .»».:---. ‘”... . . _ ‘.»,’ ‘ '» H' ‘. _ J 'f'- - _- _-. " _ l---.. _‘ . .,, ,L_ ,..,. . , _ ._ . . _‘ _ ` = ;,:,’f'. l .. - -» _ - , __. .1 _._; . . ._-:_ . - Q; _ -.’-.. '** -_ -l,. - \ ¢._ ‘ .~» . ." I' L_- ._ _ _,_ _ ._ _,I _ ~_’ _ .-II_II~_II.I_.`__-_II _ _‘,II‘,`.__; HARL E ml..-t. in 1: . » _ -. 1. 'Ii Ii K ` ' “»" "---7""_'.e"". '_-',.‘7`f-";*`.` “ ";' "i'4s=."';`.-_ '!=.»-~-.°,.’ _ '- `»‘: *~. .>,'_.1-. _ f.. _ - _ - . , _ _ __,_.._ I,I}_.._ I. .,.II. _1_II- _ _ ._, . I I _ _ .II ...II - '. ~ . I . . __ "_ 4,; _*II III. I,,`._,_ ,__ _ _ - _ I _ _ I I _ I _ -_ _-_ _ . _ . _ -.- _ ._ _,_ -,__ I_- .)_..,. _ _ , t. _ . _ , _ __ _ . 1 ’ 4-* _ ‘ I - . _ _f l- - f ;.;_ tif.-“_” .~ . » :-1...- .-.,»" ,.,_,-,_._, _ g ____ _,_ _ _ _ _ -_» ~_I,_ ,,_,_.,_-"1 I- -_ ~ '- ' ., .nl \ _ _ i ".'{,__'I_.,II-I I, ;il » . - ~. .. “ * 1.* ¢ s *I '_ ¢ cAN_An.-l, SATURDAY, sei-1‘EMBsR 4, 1909 {,_I_,,_3_,M__\, EI M" ' I ~ _ 'r 1, ~-_ _ ,_ LI. _ I_ _ _ ,_ __ _ Q :__ I vin _ .- __ AN _ I - ` _ _ _- I -No.1 _ ONT!! IIY EE as iB‘€‘Xi~'r8$ st.- t I;)`\¥i»~»a» I -- -_ 6%- I _-'§I:5l»‘ » 'I il.- . ._~"' 4 ,__ ___i._._.___?.____. _,__ ___ , ,i T0 the master mind of Charles Mel- ville Hays, a. man- who had lt thorough grounding in . the hpgrrttlon large railroad cor- porsti_ons before he set foot on Canadian soil. belongs for the nlost -part the credit of building up is great railroad property from a losing pro- position to the_positlon of a. dividend payer. lt Il now going on thirteen years slnoe Mr. Hays first took hold of the road and commenced a. task which offered many obstacles. However, it required the space of but one year for him to turn the tide. and this was not accornplilhed by any cheese-pnring policy. He has worked from the start Upon the lines of expansion, and throul ll his undaunted efforts, Canada will soon have another transcontlncntul road. extending from Moncton in New Brunswick to Prince Rupert in Brit- ish Columbia. Facts and figures will do more to show what Mr. Hayes luis uuconiplisll- ed` better than columns of luudatlon_ When it`is considered that New Year's Day, 1890, showed a deflct of approxi- mately 31,500,000, and that on Decom- bsr sl. 1891. saw the shareholder. nf the company paid $1,352,798 on divi- dendi. A fair estimate of the ability of the new general manager to accom- plish something may be arrived ul. , _._` _ rot S7.712,072. the whole aggregating $52,963,748. SOME INCREASES. In 1907 freight trainloads were exact; ly 50.79 per cent. heavier than they were in 1897; passenger traffic was 71.1 pt-r cent. glvtttijr in 1907 than in 1807; locomotives`\vere lluilling 83.6 per cent greater loads in 1907 than ln l89‘T,while 0 proximately 7,700,000 miles to have car- ed for the tonnage carried one mil¢-- 2.00'7,000,000 tons-upon the basis of the figures for 1897. Figured on the basis of-average net' expense pei' train mils for the year of"1907, of $1.10,' this would have added something like $8,470,090 to the expense account. ‘ “' _ *Will llil I lla?" I \ to I I l,II IH( _ I /° t_ - ‘sa upon the completion of the Grand Trunk Pacific. _ CAME Al A SURPRISE. This latter road is distinct from the British Columbia. near tlls Alaska boundary, will be the western termlnus,i which site was chosen coincident with the selection of the route throl|¢ the Rocky Mountains. II il: ‘ , II // _ 'o °\ u. l,)II \ 'I lla." I/II. l_\.I “HI/I/"II '_ Grand Trunk Railway. being construct- ed "nam, 8 .pedal chuwn and M,-_ MANY DIFFICULTIEO PREIINTED. Hays is its president. When this A¢ "_, o“¢.'“ m, p“,1“c¢ m.‘“me¢ project was first _anrlouneed it camo as many a|fg|c“|¢|"_ I. 9,, B,|g.h ggolum. a complete surtklse. The news first bg; gpm; ¢,“_n,,. poke" mmy “vo” became known in Montreal on s Sat- able hirbors. and is therefore beosms urday afternoon after the papers had neésgnry gm- th, ggmpmyvj |\-fb... _completed the run on their edIiiI9_l\l~ enginsssfs to explosg_mld_eunlng_tl\e A copy of the announcement was ll_ahd- _cone with um 0535; _ ];g'_.'~§`-gdgnumllu ed to a railway reporter on the _dls- ¢h|_|0,_-“`|¢-m 5," .weep gm- ¢n,_'m,|-.. tlnct understanding that it was not to pon, The point selected. homely, Prince be used until M01-day morninx: Itwsl Rupert. is situuteu within fiityinilss of \lBed by the `l‘€P01`¢f*l° "-|180 i1f¢el`ll0°\'ll|'the southern extremity of Ainskn and cnsoi-r Ai.lv`|os1' iMPnEoNasl.r_-:_ the tonnage capacity of the freight cars \¢Vithout those new bridges, yvithout of thc road was-80.1 per cent. greater those 100-pound rolls which; replaced than in 1890. Itlle 70-pound rails, which wole torn up. Canada had not come into her own and without the new heavyfolllngstock brick lil 1896, but the Rising Sun ofthe' _\vhl_ch was purchased in harmony with Dominion was -*coping over the horlz-lnfthe new DUHCY. If WUUUI TUWB bvell lill- uuu Mr. Hays saw ii. He went 'ahead iwssible to have increased the haul-so ln the dull season 'and practically rs-'of the locomotives in the freight sor- bulit his road. sponding $12,154,05 pe;-ii/ice 83.6 por cent. and tu have raised Iprt-1~:ent`inllt-age of the system ill but- I the ivlllluliu 0111111010' Of tho fl`0Is'I1lCul‘8 Itcrnicllts and mailltcllullccs to be able 89-1 lli-'I' Cent- HUOVE me FBCOFCIB M1390. 110 care for the rush when the await- Wiliilii kifllii UIC' \V0l‘kil`l§ BXDEHIU CIOWH ching of Calladsfs greatness should P0 9- Y"I"Im\*“\- diiwh and stir hcr people to commercial And what has been the effect _of gnc DuiI\'lil'- policy of Mr. Huys as regards the roud Till? Hill Gnd Of 1593 SHW Chi! bei-'Ill-Iin the financial world. lt is that its Milli; Of Ulrr H005 tide “nil if Kelli i'lU\V- credit has become almost iinprcgnable. ing until thc crest wus reached in 1907. I_W»hsn ‘a transportation company can Tlsrll tlluro W1-i9 lm BDU ill Sylfllii-t_llyIisl_lue debentures against the securities 1 8 theme f0l‘ illi0l'V\€W\f\3 SIX' Th°m5l ls reached from the Pacific Ocean via Shilillihnessy. Dl`i=l|df="¢’°f me C808- Dixon ,Entrance and Brown Passage. dia" Pacific Hallway Company. how- Prince Rupert harbor possesses some ever, who it may be stated was taken of mg gpmwgg “|v.n¢“°. go wean M1' hiflmafdl but it -did( not get to the shipping- that can -be found along the public until Monday. uolielrius °n ihls.ent|ro Pacific cout. it has s direct side of the Atlantic simultaneously wltllichannel passage leading' into it of more the news in London. So close was it than half a mile in width and is suffi- ltept that. the Montreal Sunday paper cunt m “ne” to wcomnoug. .nm-_ did not have an initling of it. mous shipping. Mr. P. M. Bredt, Do- H wa, B K,-ea; mac, gf n°“}s_ bug minion Government Inspector of Agen- w|,.¢_ d“mbf0und|n¢ gg ¢h|,Icles_ who made tl-e tnp up the British was some I public. Mr. Hays, however, had the C0l\ll1\bIB oulst by lteamor fl‘°l1i Victo- whme mane, pretty Wen ghougm °u¢_ ria to Bltagvnw. Mui-lla. thus describes and if all goes well it is pl‘edlctt`d that if in UN ViC'»°l`IB DBUY C0|°nIl¢ 0! OC- iruihs will he running from cout tultober 6. 1906: "lt is certainly the mo-it coast in 1911. picturelzus country onle could imagine.‘ This "Atlantic to the Pacific-ail`the W’ We" d°"‘h“‘° and |"“'p"‘°d 5" In way in Canzfda-route" will connect B"°"d°“f' It I9 uk' '°"°"'| N°""ay'm one wondtrful panorama. Among many lvitll the panic lil the United Stutcl, but the high level dropped but little. Tile flood of business is ln evldéhceI ngiilu and next your should lvltnt-ss a And this was/no more flash in the phd. Profits have come as regular as the years to the shareholders ever since, each years return on the investment in thIsIcompany's shares being larger than tim previous one. nsrunnso 'ro cANAoA_ Before proceeding to delve into the flkurei tliitt tell the history of the won derful development it inlgIi't be as \\-el to stats that Mr. Hays was not at the 3-ess of utah-s ah the time from lssii. up to the present. Hs was tempted lway from Canuda to the Southern lm- clflc Railroad. but he wearled of i.heI new surroundings in a year and 1'" illrncd .,\o_;tils Canadian road in 1900. During his absence. an old and tried official Mr. George Reeve. fhluu thu uv- lltion of- General Manager, but he was I msn who had already rctlrcd to a lifu lo! elle and when the opportunity pre- sented Itislf he stepped down and Ou Blain to lnake room for the return of MF- Hill. __Mr. Reeve is now growing -arsnseflh csiiferui.. All h\l_.gll'rsdy been said there ws "I0 ell ‘ sg in the policy inaugu :rated `, l‘.l-Isys. He has not hoard -oe~‘"l-00 is for the payment of alvi 'i|endl"*idlout regard for the props lnsisteiidiics and permanent improve ments. _T9,ll'l¢_ Gnd of last June the road ha Dill! l“.\_§l.l1l out of earnings on th Dfilberty. .,Brldgs's have been son t s strueted. curves have been eliminated. f _ _ Q _ _ Nllihi Itself meds cspsbls of increas- ihfthb lihtzlsgs |10 per cent., in com- lfldll' di down and the capacity o vlrisoil 'wmi th. rem-.rss of im. Yrs! gallery 1, im, to peers-be ul 100 .\ 0.013 710 went into new roll 7 . - itll stock Qelae. New rails sts uv 0| Will# double tracking colt $9 ‘I v 3 ‘- new 'general offlvl N __ _ mums h.oso.ooo: naw nl- _ ' £108.01; new found houses. ,- _tensions ts eos! -mum u°!* ' orleans to mlm °i\- I' I' 'the total divldiulds puld to inure _ ers aggregated 3.650.160; UN d|\I' dellds paid during the iw0l‘/8 )’¢l\|`5 from Julluury 1 1896. to December lil. 1g0';_ugg|-pgnted $21,162,056--244.7 pei* per cent. greater since Mr. Ha)/I ¢U°i¢_ control of the iilarial§°‘""""0f U18 ly!- tcm tlllln lil the same period llL~fill‘8- And this despite the hcuvy oxpcndi- turcs for Iniprovciilcnts. Thu ulnollnl. chi-\llf0i`1 i0 Gill-lifili dill' ing the pcriud bctwi.-eil 1896 and 1901 for improvt-ments wus but $17,677,027. of which $2,174,507 wus for additional tcrmihai facilities; 89.250315 f°l` Pei" lhancnt bettermcnts and 3.250.000 fill” new rolling stock. The rest of the money was made at the cost of revenue. ln tile ...ms time the payroll srew 1_3-1 ver cent. _- a considerable proportion of which was due tp increased 'rates of to both skilled and unsitiusa lil- WW bo,-_9_y.-,|-aging about 26 per cent. high- er Ili 1907 than in 1806. __ Transportation costs for 1001 Iwsrd' 68.5 per cent. grentér than in lliilil: maintenance of 'way was 94.8 p¢l‘__-evil.. higher in the same comparison: the olive power cost 97.9 per cent. more I: iso-1 thru in isis ina ins' our do psriment required 82.7 pei-,eent,_mors money to operate ln 1901 than in 1800-- lmt tho tonnsss increased, iii.) per cont. in 1907. compared with IIN. and ygrrsntsd the sddltlonsl expense. "___ gg" spent money' to msks mnnsy in the ssms msnasr as _many mg; successful men. Under the olil' :.,...¢¢rn»ru li souls hsvs ,pengui- . Idcild ends have bt-en done away \vitll. Owned by it und' liturlilg but 4 por dent. interest, its credit is rxcclit-lit, alld when it is understood that those debulltures are the cqulvnlcllt of proin- Ing the fixed charges down to the iow- nst possible figure. FED THE MAIN LINE. How did Mr. lluys go about his task In accomplishing this wonderful rever- sal? is a question which naturally, suggests itself. Simply by getting of-` ter the business and feeding the main line, By building and opcrutilig furry lines across the rivers und Great Lakes und tile very branch lines which show cd deficits in the past have become di- yidcnd earners. Tonnage has boon drawn from Noi-them New York, Tols- do. _Milwaukee and other Lake *ports because of these ferries. justifying tflls confidence of the management in tit; expenditure of the money to establish. these connecting links between fertile tonnage points and the main artery"o¢._ the Grand Trunk system. f So much fur the past: but what n(_ _the future. There llss been no marking -time up to the pri-sent juncture, and the prospects ol anything of the nature do not appear on the horizon of timl§ New business is being tapped land t`rUuntlng,on the tonnags and earnings of the system. Before another trsils- pqrtatlon eh has been passed the new industries slone will have enough ton- nage to warrant the payment oi’ re- spectable alviarnas. she it is bunnus which cannot be readily _tsltsn sway fiom the Hays system by competition. lm which they will soon hsvs the long haul eissr sm-oss the prsiriss of the < ' t i t I with the tluient system a a pon n II I 8. tor me b°II°I_ IIIIII I IIII_ the Province of Ontario. A subeldiitry|°n’°" C °" 5 f ticed was that of the improved con- I _ - _ t ri h tl .tot wompany mcomom E Y '° U 'aitishs of truvel. The bust in which Parliament in 1906 and known s.s tile' L1 ,, we mudc the trip was commodious and t _“mmm an "‘°'tg“g° Grand Trunk Pacmc Branch ne I nmfortsble, luxuriously fitted withillo receipts were $4'l'5.l..i l ' - I' _ . I II B I I I IWISUS “lid Ili '355 Ui” deficit “’“" “M” Debentures of this character are bc- t_0"_`,'PIrII"cec;Ide,r,t:. Séerord aim Uti- IIIK used from time to time to i'etlre':;‘I';IIImII;Ici'd 5"? :he 861. _ ~ _ _ __ i WCREASE |N D|V|DENp5_ prelious loans. lvllich have been curl; - _ - l ` lug from 55;. pi-r oc-ht. lu 6 per cunt. ln- ernment! of Suskm.uh°w‘n and Al' 9 I"°\” 'hc *“'“I"e 3'9"” ‘MTI 1° II1I?3Is_'Itgrest-‘\l'lllcll aids materially in Ikccp- l?e"'“` _ _ is`euANcl=. or sonos. Authority is given the company to issue bollds, debentures or other secu- ritiés aggregation about $40,000 por _lnile of road under actual construction ‘or such construction as is contracted tor. The security for such- loan issues are limited to the frailchlse rights, pro- perty assets or both sd described In the mortgage _ covering l:tlch_seDilvato i_lsue. Tile agreelnelits between the com- pany and the government providing for iillie new transcontinentsl ,railway are of s twofold character. which when carried out will combine s reilwsycon- sldfsted at t`hs expense of the govsm- inhnt. wlth‘tm lihss of a privstrsos- poration, into che-system. under the entire control. management sndopsrs- :tion of the company. _ _ » " "l.fho_al-til...-ire.: rsntgsl-.sees es the sviiinsar- is us.ool.ooo, or yum. nu,- 000.000 may be issued ss Prsfsfrsd.'l‘ho Grand 'i‘runk Railway Company of Clin- ada is to acquire all of the common stock (excspt shares held by directors), in consideration for -gusrs1ltses_ etc.. land must retjin s msjority holding ,during the term of the agreements with the government. » _ Tl; osstsrn‘ terminus of the railway will bs sl Moncton. New Ruluwisk. from vvhleh point the seaport of Heli- rss wth in rssehn -over us trichlo- nlsl Rsilwsy.»s branch line bei pre- lscted to Sl.. John. The distance to tl-e first named port is ill miles and to new high lcycl. | lssory no as - y » C I III I II I I II I 0 \Vhut tile how ern of tile road lllcnns iiell on the prop -rty-it is more -vi- °""m“y' 'fm nr ze ° "ue up u _ _ “ “_ _ I _ _ U _ | e og "0_00°_0W for u,¢|latsst iinpro\ ements, with the addition may be in-tier 1-l1l>rL-viilli-ie by the location of the IPu_c-ill.. terminus so much northerly of an existing port, lllereby reducing the Pacific ocean mileage, and with re. Illlect to tho trans-Pacific trade, thus .establishing at Prince Rupert a new Wllfvilot for round tile world commerce. TOUR OF INSPECTION. l\1r. Chanlberilnn lou. duys nga tire harbor from the entrance to v.lle\uumplet=u tl tour of 1,_..pec-rn.,-, of me extre '_;I‘I’“' °"“"“C""fiii9_J\i-Hldlni. which was tanca` of 14 miles. is entirely free from 'I S Iiliilinl -lilly after lltitlhg command, d( n loft-1...... _.J |.lrl observations he said that no one uuuld visit Piincu nu 9|-,_ d ulthout realizing th`e wisllom of pthe choices as to the port on the western I;-Iefili. us ull would adnill its excel- _ me as a harbor. 'lhe contractor; hug l.u.d 2.000 mon engaged, and in Urdu- m vl.nve the section really for track-lay.. IHS by inidsunimcr some i.50u nddi- ,tional men will be put on the work. in inet many new gahgg, 51,-_ ghumbe,-_ UH Sold. il ore now leaving- the south- lcrn ports in order lu swell the little llflny of lvol-keers lin _the first section. sfretollliig itlullg the Skcelia ltiver 100 nlilcs i'ruh| the lnontll. The ect-ond sec- tion. cxtchliing inland 14-J lnhus further, would. ilu siutiili. ' lrrobiiliiy be put uiltlcr contract by Uornlnlhn Day_ al. though the ri:-at inl».»ni..m \\-as "ug W liuvc this givl-il out Lu the contlnctors until :-Loplefulnsr. Ili: said, however. tllili progress liild been inure luplfi than at i'Irsi supposifd, uunsequulllly it now looks ns if by the early full u good do-ll oi' slccl would be lain on the Pu- t‘il'iu st-ollull, while the l`ulIi»\\'i|lg peg. lion .li iw miics uouul bu wt-Ll covered l__y iuull itilii tualilu. ilu is a.so delighted with thc road us scenic route. rol' till: lcuson that lor iso inilt-s the rltlis will hug the river, pluacilliilg tile most beautiful :-c<~l.t»ly, .with tolli.-ring mountains on out-li side) The iullli me un route in sull'iclcnt_ qushtllics to lay the first 100 miles. und this work. together with the llulluiltllig, will bd done by the company itself. Every bridge between Winnipeg und lidrnollluii has been completed, and the truck ls now being laid on the last 5 miicp, which con- stitutes the one gap between the capi- tals of Aluhiwlia und Alberta. This ,\vork, however, will be pushed rapidly, and Mr. t.‘liulnberlin says there is lit- tle doubt is to the road being com- R“‘V°""- In my 9p|“|°“ It I’ “'" 'amd Hs is u Vermonter. but most of iis ox- z ' l the Red River ill l°°i\U°i\ f°l' 009 ‘°"mI““5' “nd um I“""`perienco has been acquired ln tJixilsdu.'|’I'"~‘-"I by '|‘"“’ mn' the Saskatchewan. bor ls unsurpassed on the copht. .-\.tI present t le 1’ once hsvihg made nasty ses running out.-ids. inside, how- ever. it #ss perfectly calm. the position being well protected from (ho prevail- ing winds. ROOM FOR GREAT CITY. "('!srti-llnly,!' continued .Msn lredi. "there is room therefor n greet city. and Digby Island wouid multi an ideal suburb or summer -resort. ~Commuui- cation would hsvsgto Ip by ferry. i thihlt. though the dividing passage la ns:-'row and the dlmq” 011010; not srsstnr than bolvoon-Ilori_.p'ysueau\-or and Vsnoouvsr City, if plgnp; it. would ‘bl llrwtieolil-.I vers Olthodlll _ 'Thurs is plenty M-sedvity ‘ln evi- dence st Prince Rupert; Iibltlts for the engineers are being rspldifeonstructod and gangs of men _