advancement of thousands of young men not only in Toronto and the Province of Ontario but throughout the whole continent. To this Father Durand responded and to the health of the Hierarchy and Clergy, Archbishop O'Connor and Archbishop Gauthier, of Kingston, replied. The latter stated that "many priests of my Arch-diocese are graduates of this great hall of learning and are among my very best men-men full of zeal and learning.' Other speakers were the Rev. Dr. Teefy, the Rev. Dr. Tracy, Dr. J. J. Cassidy, Mr. Nicholas Murphy, K.C., and the Rev. Father R. McBrady. The last named was stated to be about to enter upon the duties of Superior of Assumption College, Sandwich, in succession to the Rev. Dr. Cushing. At a subsequent meeting of the Association, Mr. J. J. Foy and the other officers were re-elected.

The annual exercises of St. Francis Xavier College, Antigonish, N.S., was held on June 12th with the Rev. Dr. A. M. Thompson presiding. Mr. H. B. Gillies, B.A., delivered a Salutory address dealing with the relations of science and religion and eight degrees of B.A. were then conferred upon graduates, together with a number of medals and prizes. The annual gathering of St. Joseph's College, at St. Joseph, Ñ.B., was held on June 21st with Judge Landry, the Hon. A. D. Richard and others present. The Valedictory was delivered in French by Mr. M. D. Cormier, B.A., and dealt with the condition of the Acadians, while a similar address by Mr. W. M. Duke dealt with the question of "What Canada expects from us." Two degrees of B.A. and nine of M.A. were then conferred together with various prizes. At St. Mary's College, Montreal, on August 1st, it was announced that the Rev. T. Filiatrault, Superior of the Society of Jesus in Canada, had appointed the Rev. A. Turgeon Rector for the ensuing year. At Loyala College, the Rev. Arthur Jones was also appointed Rector.

On September 20th, it was stated that the Rev. Canon M. Z. Racicot had resigned his position of Vice-Rector of Laval University, for Montreal, and had been succeeded by the Rev. Canon M. A. J. Archambault, Chancellor of the Arch-diocese. For the year ending June 30, 1900, the number of Professors in this institution, at Quebec and Montreal, and including its Faculties of Theology, Law, Medicine and Arts and the Polytechnic School, was 144. The students of Theology in Laval University, Quebec, numbered 71, and in Montreal 267; the students of Law were, repectively, 58 and 114; those of Medicine were 107 and 147; those of Arts numbered 95 and 45, respectively; the students at the Polytechnic School, in Montreal were 25 and those at the Veterinary School 7. The graduates of the University in 1900 numbered 143, and the affiliated or associated institutions numbered 23. During the year the University at Montreal received its annual grant of $10,000 from the Provincial Government for the maintenance of its Polytechnic School, and $2,000 each for the Faculties of Law and Medicine.

The Railways of Canada

Section X-TRANSPORTATION INTERESTS

The railway mileage of Canada in the fiscal year 1900 was 17,636; in 1901, 18,294. Of the latter total all but 110 miles were laid with steel rails, and with the exception of 634 miles, were built as single-track roads. The capital paid-up of Canadian railways was $1,042,785,539, on June 30, 1901, an increase of $50,000,000 upon the preceding year; the number of miles in actual operation was 18,140; the gross earnings were $72,898,749; the working expenses, $50,368,726; the net earnings, $22,530,023; the passengers carried numbered 18,385,722; the freight carried amounted to 36,999,371 tons; the train mileage was 53,349,394. According to the annual Report of the Minister of Railways and Canals for 1901, the nominal paid-up capital of Canadian railways, on June 30th, included (in greatly condensed figures) $291,340,772 of ordinary shares; $133,073,541 of preference shares; $391,696,522 of bonded debt; $166,158,731 of aid from the Dominion Government; $32,395,520 of aid from the Provinces; $16,310,252 of aid from the Municipalities; and $11,810,194 from miscellaneous sources. The Government and Municipal loans, bonuses and promised aid to railways, completed or under construction, up to June 30, 1901, were as follows:

Of this sum the Dominion and Provincial Governments had lent to railways, $20,613,489; given them in the form of bonuses, $189,041,503; and subscribed to shares or bonds (New Brunswick), $300,000. The Municipalities lent them $3,414,311; gave bonuses to the extent of $12,331,086; and subscribed to shares and bonds to the extent of $2,839,500. The total expenditure by the Dominion Government upon the railways prior to, and since Confederation in 1867, amounted to $157,594,740 up to the year 1901, while the working expenses for operation, etc., on the Government roads made $87,130,523 additional. The principal subsidies paid during the fiscal year ending June 30,

1901, included $345,323 to the Great Northern Railway; $205,524 to the Canadian Pacific Railway Company for the Crow's Nest Pass Line; $90,000 to the Ottawa and New York Railway Company; $228,371 to the Grand Trunk Railway Company for the Victoria Bridge; $88,400 to the South Shore Railway Company; $132,800 to the Inverness and Richmond Line; $537,600 to the Canadian Northern; $92,800 to the Pipestone Branch of the Canadian Pacific Railway; $67,200 to the Central Ontario Railway; $170,264 to the Midland; $74,570 to the Quebec Bridge Company; $212,500 re the Interprovincial Bridge at Ottawa; and $186,600 to the Atlantic and NorthWestern. To this total of $2,512,328 may be added $974,306, paid out between July 1 and December 1, 1901, of which $699,970, paid to the Canadian Northern, was the chief item.

The
Canadian
Pacific

This Railway crosses the continent from Montreal to Vancouver with a main line 2,904 miles in length and possesses branch lines and controlled lines totalling up Railway to a mileage of 10,633. The Eastern Division of the Railway has a mileage of 1,282; the Ontario and Quebec Division has 784 miles and includes chiefly a leased line the Ontario and Quebec Railway; the Lake Superior Division has a mileage of 973; the Atlantic Division, composed chiefly of a leased line the New Brunswick Railway-has 689 miles; the Western Division has a mileage of 3,717; the Pacific Division is 909 miles in length. These main and branch lines possess a total mileage of 8,356 and the Canadian Pacific also controls the Minneapolis, St. Paul and Sault Ste. Marie Railway with a mileage of 1,409 and the Duluth, South Shore and Atlantic Railway with 568 miles of road. The condensed balance sheet of the Company on June 30, 1901, stated the cost of the Railway and equipment to be $225,353,616; the cost of the ocean, lake and river steamships, less amount applied in reduction, to be $4,123,591; the acquired securities held against debenture stock issued, at $34,589,455; other acquired securities at $2,192,161; real estate, consisting of hotels and buildings held by Trustees for the Company, at $1,448,381; the balances still due on lands sold, at $3,467,394; the balances due on town sites in the North-West, at $185,475; advances to the Montreal and Atlantic and the Duluth Line, at $660,357; material and supplies in hand at $2,924,912; the station and traffic balances and accounts receivable at $4,266,942; advances pending issue of securities to two British Columbia Lines, $1,135,737 ; miscellaneous securities and advances at $1,204,719; amounts due from Imperial and Dominion Governments, $172,361; cash in hand $9,793,462. The total assets were, therefore, $291,518,571 and to this sum might be added the undefined value of 16,104,403 acres of land owned by the Company. The liabilities were stated as follows:

Between January 1, 1900, and June 30, 1901, the sum spent on improvements and repairs of the main line was $2,196,274 and on branch lines and telegraph extensions $217,015. Upon leased or acquired lines $745,891 was spent. On June 30th of the last year mentioned, the Canadian Pacific Railway had an equipment of 708 locomotives, 662 passenger cars, 115 first-class sleeping and dining cars, 33 parlour and official cars, 20,083 freight and cattle cars, 363 conductor's vans. The Company had also five ocean steamships, three lake steamers, two ferry steamers, 13 river steamers and 6 tugs. The earnings for the year were $30,855,203, of which $8,083,369 came from passengers; $18,983,185 from freight; $651,805 from mails; $472,181 from parlour and sleeping cars; $691,208 from express; $1,973,452 from telegraphs, grain elevators and miscellaneous matters -including profit on Pacific steamships. The working expenses were as follows:

:

The freight carried included 3,735,873 barrels of flour, 32,927,468 bushels of grain, 945,386 head of live stock, 889,214,646 feet of lumber, 204,818 cords of firewood, 1,954,386 tons of manufactured articles, 2,206,970 tons of miscellaneous articles. There were 7,155,813 tons of freight carried, and the earnings per ton per mile on this freight were 79 cents. The number of passengers carried was 4,337,799, and the earnings per passenger per mile $1.93. The net earnings for the year ending June 30, 1901, were $12,109,375, and to this was added interest on deposits, loans, etc., amounting to $933,425. After taking from the total certain fixed charges amounting to $7,305,835, the surplus for the year was stated in the annual Report of the Company at $5,736,965. Out of this was to be taken $150,000 for the cost of steamships and dividends amounting to $4,472,506.

A somewhat discussed question during the year in connection with the Canadian Pacific Railway, was the possibility of United States capitalists obtaining control of its stock and important Canadian interests. At Montreal, on May 26th, Mr. T. G. Shaughnessy, President of the Railway, was interviewed on behalf of the Toronto

Mail and Empire, and expressed the opinion that the recent advance in the stock of the Company was due largely to the absence of manipulation by its Directors and to the consequent greater confidence of the public. "The stock is, therefore, passing more and more into the hands of individual investors." This was a factor in the possibility of aliens acquiring control of the road. "There are at present," said Mr. Shaughnessy, "between fifteen and twenty thousand shareholders of the Canadian Pacific Railway, so that it would not be such an easy task to secure a controlling interest, as the individual shareholders would not be likely to part with their holdings except at a very good price. But, so far as I know there is no foundation for these reports, nor do I know that any of the interests mentioned have contemplated getting control of the Canadian Pacific Railway." The Board of Directors of the Canadian Pacific Railway for 1901 was composed of Sir W. C. VanHorne, Chairman, and Sir T. G. Shaughnessy, President of the Company, and the following members: Lord Strathcona and Mount Royal, Mr. R. B. Angus, Mr. E. B. Osler, M.P., Sir Sandford Fleming, K.C.M.G., Mr. W. D. Matthews, Mr. Charles R. Hosmer-all of Montreal and Toronto--with Mr. George R. Harris, of Boston, Mr. Thomas Skinner, of London, General Samuel Thomas and Mr. John W. Mackay, of New York. The Executive Committee was composed of the Chairman and President, Lord Strathcona and Messrs. Angus and Osler. Mr. D. McNicoll was 2nd Vice-President and General Manager, and Mr. Charles Drinkwater Secretary.

During the year a number of important changes were made in the staff of officers. In February Mr. William Downie, Superintendent of one of the British Columbia Sections of the Canadian Pacific Railway, was appointed Superintendent of the Crow's Nest Pass Railway and other lines in the Kootenay, and was tendered a banquet on his departure from Vancouver to Nelson. This event occurred on February 28th, and was presided over by Mayor Townley, with Lieut.-Colonel Worsnop, Mr. F. L. Carter-Cotton and Mr. J. F. Garden, M.P.P., amongst the speakers. On April 15th, Mr. E. J. Duchesnay was banqueted at Revelstoke upon his appointment as an AssistantGeneral Superintendent of the Railway. Various changes came into operation on May 1st, including the appointment of Mr. J. W. Leonard as General Superintendent at Winnipeg, for the Western Division; Mr. C. W. Spencer at Montreal, for the Eastern Division; Mr. H. P. Timmerman at Toronto, for the Ontario Division; Mr. James Osborne at St. John, for the Atlantic Division; Mr. Thomas Tait at Montreal, as Manager of Transportation; Mr. William Whyte at Winnipeg as Assistant to the President. At Galt, on May 3rd, a banquet was given to Mr. W. B. Lanigan who had been recently appointed AssistantGeneral Freight Agent of the Ontario Division, and at St. John, N.B., a similar compliment was conferred upon Mr. H. P. Timmerman on his transfer to Toronto. At this latter function, Mr. W. H. Thorne presided, and amongst the speakers were Mayor Daniel, Chief Justice Tuck, Mr. Wetmore Merritt, President of the Board of Trade, and Dr. Pugsley, Attorney-General. Early in the year Mr. A. R. Creelman,