Mr. George Stephen (first knighted and then raised to the peerage as Lord Mount Stephen, in recognition of his great services to the empire as a railway builder) held the Presidency of the Canadian Pacific from the beginning in 1880 till 1888, when Mr. Van Horne succeeded him. There was something very fine in the deep personal friendship that existed between these two men. And there is something almost pathetic in the correspondence carried on between them over Mr. Stephen’s desire to retire from the Presidency, and later on, when his health and age demanded rest, from the directorate of the road. The President and Mr. Van Horne had been specially close personal friends from the beginning, and their intense struggle to build the railway had cemented their friendship into a type of affection that was unmistakable, even though these two strong men were not of the kind to be demonstrative before the curious onlookers by the wayside of life. Stephen, on undertaking the Presidency in 1881, had indicated even then his purpose to retire when the task of building the road across the continent was completed. The greatness of this task was even then foreseen, although the enormous difficulties that developed, as we have noted in previous chapters, could not have been anticipated by finite vision. The burden of responsibility carried by the President was well-nigh crushing. And there is no doubt that Stephen, at times, felt keenly the fact that not only did some public men in Canada actually oppose what he was trying to do for the country, but that even some of those who had stood as sponsors for the railway undertaking were so slow to appreciate the terrific strain upon Stephen and his colleagues that they only came to their assistance after they were humbly besought for aid. Stephen’s nature was sensitive under these discouragements, but he kept his word and stayed till the main line was built. It was largely at Van Horne’s request that Stephen kept on for two years more and thus gave the General Manager a chance to consolidate and conserve what had been accomplished as well as proceed with extensions and branches. But in 1888 Stephen retired from the Presidency, and Mr. Van Horne was the logical choice to be his successor. In a fine letter which has vivid historical interest to all who know something of the stress and strain of his term of office, Sir George Stephen, under date of August 7th, 1888, wrote to the shareholders of the Company, his resignation. After referring to his determination, at the outset, to remain in office till the completion of the main line, Sir George relates how he remained two years more at the request of his colleagues. Then he goes on to say, “warned now by the state of my health, finding that the severe and constant strain which I have had to bear for the last eight years has unfitted me for the continuous and arduous work of an office in which vigour and activity are essential; feeling the increasing necessity for