The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-05-21
AMERICAN CAPITAL IN CANADA.
Millions of Money Going There to Develop
Various Enterprises.

Various Enterprises.
QUEBEC. May lot looks IA II n great deal
OF American capital is destined soon to find in
vestment in the Quebec district OF Canada.
Already the exam pie set by Secretary Russell
A. Alger and those identified with him in tho
S3.OOO.O0O pulp and paper mills on the Ut.
Maurice River at Grand Mere Falls is being
followed by several New York. Chicago and
Boston capitalists. One syndicate. headed by
Mr.. McMulle Of Emerson. McMullen & Co,
bankers. OF New York. has been incorporated
In Canada under the name and title OF the
jacques Cartier Power Company. to furnish
electric light and motive power to the city Of
Quebec In opposition to the existing electric
company. II has already developed exist
Ing water powers at the famous falls OF
tho Jacques Cartier River on the line OF the
Quebec and Lake at. John Railway. American
capital has also found It's way In large blocks
into the capital stock Of the existing electric
light and company OF Quebec. which
utiliEes the famous Falls OF Montmorenci to
illuminate the streets and private residences Of
the city. to operate the street railway OF the old
French capital. and is now about to replace
stoam by electricity as the motive power Of It's
railway trains between Quebec. Montmorenci
and Ste. Anne de Beaupr6.
Col. James Mcknight of New York. OF North
Ut 7 aCiuC iuI1o u. IL. MblVllle OF boston ana
a number OF their friends in both cities arc
interested In a number OF industrial schemes
In this part OF Canada. A large party OF these
men was here In the middle Of the week to at
tend the annual meeting Of the Great Northern
Railway Company. The scheme Of this COM
pany is most ambitious. havingfo for its terminal
points Duluth. at the head Of Lake Superior.
on this side OF the Atlantic. and Liverpool on
the other. The railroad part Of the road will
be- 525 miles long. Of which only eighty-elght
%ilS Sa Nav Tspa \ R &c 81 snl in New GSs; Y YoSR' ana
". H.. Melville Of Boston have placed
all the bends necessary for the compile:
ttS Se et enaf'1s ny ., ts Ss bridge l oSs2 the in Ss}aMs:
| the completion Of the road AMOUNT to 81. vs.
QO0; The company has made ARRANGEMENTS to
build steamers to run from Duluth 70 Georgian
pool. II viii construct grain elevators in Que.
shipment 81 grain from the great West to
Europe. It has awarded another con
t %srre for .st tbs im GcSpsny 'S OF SS% FORK X Of 5Hs g
branch line to the shaweneean Falls. where
the same e9m npnpy h ha ~ Just H. u9sdertakeH the
Power COMPANY at an expenditure ots300. 900
Thus Latter roS e2mIp r. an I Is al also ,bs e0.mrOse =, ., Q!
purchase OF the waterfalls. from, the Govern.
Itself to eXpend SZ,OOO,OOO in the establish
ment OF industries upon the site within the
Another large company with s 100000 0 CAPT.
tai, consisting Of Montreal and American CAPT.
talists. Ia seeking incorporation here to acquire
from the. Government the principal water
powers OF the Mlstassini. tho Perfbonca and
other large rivers in the Lake st, John conn.
try, to erect pulp mills thereon and to shir
their product part OF the way to, Europe by
means Of an electric railway that they purpose
to construct from these different rivers to the
port OF Chicoutimi on the Sagucnay.
Still another important American companJ
hns been organized by 4. J. Mcguire of this
city, Consul-General Of the Argentine Republic
for Canada. Its President Is William II. Week.
OF New York. H :. Finch. manager Of the Fl
deity Casualty Company Of New York, il
Vice-Presiden and Oscar C. Kuntzc. attorney
atlaw. is Secretary-Treasurer. This company
eyer. In the Argentine Republic. where Mr.
Mcguire. Its promoter and manager. pos
scsses some valuable privileges. The com
pany is to be known MS the Argcn
tino American Promotion Company. with
Offices in the Bowling Green building
New York. and IN Jersey City. One Of the llrs
undertak inKs Of the new company will be tn,
construction OF tho interncnnnic railway he
tween Buenos Ayrcs and Talca hnnno. Chill
a distance OF $50 miles. The estimated cost o
the work IL S32,O0O.OO0 on which, sum tn,
upon $4,000 worth Of bonds per mile.