The Federal Government began surveys for the Canadian Pacific road in 1871, a company was chartered the same year to build it, but no results followed. The Government then began the construction itself, and built several disconnected sections. The present company was chartered in 1880. The Dominion Government granted it a subsidy of $25,000,000 and 25,000,000 acres of land, and transferred to it, free of cost, 713 miles of railway which had been built by the Government, at a cost of about $35,000,000. In November, 1885, considerably inside the time of contract, the road was finished to the Pacific, and in 1886 cars were running regularly its entire length. In point of time, and considering the substantial character of the road, it is a marvellous achievement. Subsequently, in order to obtain a line from Montreal to the maritime ports, a subsidy of $186,000 per annum for a term of twenty years was granted to the Atlantic and North-west Railway Company, which undertook to build or acquire a line from Montreal via Sherbrooke, and across the State of Maine to St. John, St. Andrews, and Halifax. This is one of the leased lines of the Canadian Pacific, which finished it last December. The main line, from Quebec to Montreal and Vancouver, is 3065 miles. The leased lines measure 2412 miles, one under construction 112, making a total mileage of 5589. Adding to this the lines in which the company’s influence amounts to a control (including those on American soil to St. Paul and Chicago), the total mileage of the company is over 6500. The branch lines, built or acquired in Quebec, Ontario, and Manitoba, are all necessary feeders to the main line. The cost of the Canadian Pacific, including the line built by the Government and acquired (not leased) lines, is: Cost of road, $170,689,629.51; equipment, $10,570,933.22; amount of deposit with Government to guarantee three per cent, on capital stock until August 17, 1893, $10,310,954.75. Total, $191,571,517.48. Without going into the financial statement, nor appending the leases and guarantees, any further than to note that the capital stock is $65,000,000 and the first mortgage bonds (five per cent.) are $34,999,633, it is only necessary to say that in the report the capital foots up $112,908,019. The total earnings for 1885 were $8,308,493; for 1886, $10,081,803; for 1887, $11,600,412, while the working expenses for 1887 were $8,102,294. The gross earnings for 1888 are about $14,000,000, and the net earnings about $4,000,000. These figures show the steady growth of business.