Mr. James Ross resigned as vice-president and managing director, during this year, and was replaced by Mr. F.L. Wanklyn, later in that year Mr. Wanklyn resigned and Mr. K.W. Blackwell was elected vice-president, and Mr. W.G. Ross managing director. Mr. Duncan McDonald was appointed manager and Mr. Patrick Dubee secretary. The Company, pursuing its policy of rapid extension, secured a franchise in Delorimier (now part of Montreal), and an extension of their Westmount franchise. Also through another subsidiary company, the Suburban Tramway and Power Company, now The Public Service Corporation, they secured a franchise to Longue Pointe and the Village of Beaurivage.
In the following year, the Company secured an extension of the Maisonneuve franchise, and bought considerable property on St. Denis Street for building purposes.
In 1906, the Company entered into an agreement for the purchase of the stock and bonds of the Montreal Terminal Company, and also secured a franchise in Outremont, for the further extension of its system into the suburbs. By this time the capital stock had grown to $7,000,000. The purchase of the Montreal Terminal Company was concluded in the following year, while considerable additions and extensions were made, and to meet the increased demands the capital stock was increased to $9,000,000.
The Park and Island Company also secured a franchise in Notre Dame de Grâce, and started an extension of the Sault-au-Recollet line to opposite St. Vincent de Paul. The Cartierville line was also double tracked to the bridge.
In 1908 $292,000 debenture bonds were redeemed, and £460,000 ($2,238,666.67) debenture bonds, and another $1,000,000 of stock, were issued, bringing its capital up to $10,000,000 stock and $4,420,000 bonds where it stands today.
In 1910 the Company was capitalized at $10,000,000 stock and $4,420,000 bonds, operated over 144 miles of track, and controlled and operated subsidiary companies with some eighty-six miles of track, a total of 230 miles. On March 24, 1911, an act to incorporate the Montreal Tramways Company saw a new development, the incorporators of the charter being, E.A. Robert (president), J.W. McConnell (vice president), F. Howard Wilson (vice president), Hon. J. M. Wilson, Wm. C. Finley, J.M. McIntyre, Geo. G. Foster, K.C., D.L. McGibbon and N. Curry.
As an indication of the growth of the passenger service the account for the fiscal year ending June 30, 1914, gave the gross earnings as $7,147,804.19, the operating expenses, $4,206,114.57 and the net earnings as $2,936,689.62 while the total number of passengers carried, including “transfers” was 58,120,066. Such a story of rapid progress in the face of natural and other obstacles is one of which both the Company and the city may reasonably feel proud.
FOOTNOTES:
[1] The two-cent rate of the United States was introduced into Canada in 1899.
[2] The “pay as you enter” cars originated in Montreal on the invention of Mr. Duncan McDonald, of the Montreal Street Railway Company.