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Transcript of CPR Syndicate
During 1878 and 1880, Canadian government was searching for investors and put CPR into top priority.
They finally found 3 investors: George Stephen - Bank of Montreal Donald Smith - Hudson Bay Company James J. Hill - Railway Investor The Syndicate invested $100,000 and gained a profit of $17 million dollars after 4 years 25 million acres of land grant
Monopoly for all traffic near by Lake Superior or 20 years
Exemption of tax for land until they were sold Good deals eh? In return, the Syndicate promised to finish CPR in 10 years 10 years? No big deal John A. Macdonald In 1880, Macdonald offered to the
Syndicate good terms It turned out that the Syndicate changed their plan because:
They want to have complete control in the areas within CPR route.
They thought new route could bring more profit Canadian Pacific Survey became useless CPR Construction did not go well, the future was unclear
no one knew what was happening If this continues, CPR could not be finished in time James J. Hill was in a rush finding new manager for the project, otherwise CPR would fail ?????????