This is an out-and-out Canadian enterprise, dating from 1867, under the name of the “Canada Shipping Company, Limited,” when several Montreal capitalists, among whom were the late William Murray and Alexander Buntin, Messrs. Alexander Urquhart, John and Hugh Maclennan and others, combined to originate a line of iron fast-sailing ships to trade between Montreal and Liverpool. Having adopted for its distinguishing flag the emblem of the Canadian beaver, the company soon came to be popularly known as the Beaver Line, a line which, though not remunerative to its originators and stockholders, is worthy of honourable mention as having contributed in many ways to the interests of Canadian trade and commerce. The company commenced with a very fine fleet of five Clyde-built iron ships of from 900 to 1,274 tons each. These were the _Lake Ontario_, the _Lake Erie_, the _Lake Michigan_, the _Lake Huron_ and the _Lake Superior_. The ships were in themselves all that could be desired. They were beautiful to look at, and made swift voyages, but there was a necessary element of success wanting. They did not pay. In fact, they began their short-lived career at the time when the days of sailing ships were rapidly drawing to a close. The important question of steam _versus_ sails had been settled. The Canada Shipping Company must therefore retire from the business altogether or avail themselves of the advantages of steam power. They decided upon making the experiment, and gave orders for the building of steam vessels to supersede the sailing ships. In the meantime the _Lake Michigan_ was lost at sea with all on board, adding another to those mysterious disappearances, of which there have been so many instances—gallant ships and noble sailors setting out on their voyage buoyant with hope, reporting themselves at the last signal station as “all well,” but never to be heard of any more. [Illustration: ROYAL MAIL SS. “LAKE ONTARIO,” BEAVER LINE.] [Illustration: CAPTAIN HOWARD CAMPBELL.]