George A. Cox.
Perhaps the most important financier in Canada is Senator George A. Cox of Toronto, who is regarded as the Dominion’s closest parallel, in financial activity, to J. Pierpont Morgan of New York. His interests are extensive and widely varied. He is the president of the Canadian Life Assurance Company, president of two fire insurance companies, president of the Central Canadian Loan and Savings Company, and is one of the ruling spirits in the great project to build the Grand Trunk Pacific Railway across the continent to the Pacific Ocean. He has a very considerable amount of capital invested in the United States.
Senator Cox was born sixty-four years ago in the village of Colborne. His father was a shoemaker in humble circumstances. The ability of Senator Cox, as a boy, attracted the attention of a neighbor, who educated him. When he became a young man he went to the town of Peterboro and embarked in the photographic business. He afterwards became an express agent, and also occupied himself with soliciting insurance for the Canadian Life Assurance Company. He engaged in politics, and for seven years was mayor of Peterboro. When the Midland Railway became involved in financial difficulties, he was one of the Canadians asked to reorganize the road. He at once became the dominating factor in this work and in 1878 was made president of the Midland line. The vigor and ability which he brought to his task soon put the decrepit railway company on its feet again. It afterward became the Midland Division of the Grand Trunk Railway. Besides his insurance and railway affiliations Senator Cox is largely interested in Canadian banks and lands.
Senator Cox attributes much of his success to the fact that he is a good judge of human nature. He has long made a point of surrounding himself with clever young men who are able to develop and zealously put into operation the hints which he freely gives them. Senator Cox’s personality is of a kind which inspires enthusiasm on the part of those who are working with and for him. He is genial and never stands on formality in his contact with the young men whom he has around him. In this respect he more closely resembles Andrew Carnegie than any other captain of industry. Senator Cox lives in modest style in Toronto. He is quiet in his tastes, and greatly dislikes anything suggestive of display or self-aggrandizement. He is a close personal friend of most of the political leaders in the Canadian Liberal Party, and of many of the financial powers in the United States. The Earl of Aberdeen appointed him to the Senate of Canada in 1896. He is a prominent member of the Methodist Church, and has long interested himself in the welfare of Victoria University in Toronto.