“Pay as You Enter” car now in use
Ordinary horse car in use prior to 1892
The progress under the electric regime was immediate and wonderful, and the business of the Company grew in such manner as to enforce frequent increases in its capital, while dividends at the rate of 8% per annum were paid.
By 1895 the capital stock of the Company had increased to $4,000,000, with bonds of $973,333.33. In 1897 it was increased to $5,000,000, and in that year Mr. G.C. Cunningham resigned as director, manager and chief engineer. Later Mr. R.B. Angus replaced him as a director and Mr. F.L. Wanklyn as manager and chief engineer.
In 1901 the Company purchased all the bonds and a majority of the stock of the Montreal Park and Island Railway Company. In the same year the Company secured franchises from the towns of St. Louis and St. Paul, both now part of Montreal.
In the following year the Company issued $1,500,000 4½% bonds to pay for the Park and Island Railway. The capital at this time was $6,000,000, and no less than fourteen miles of new track were built and put into operation.
In 1903 another $1,000,000 of stock was issued.