The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-06-12
BUILT TO Be SOLD
Growing Belief That the Canadian
Northern Will Go to Grand
Trunk Pacific.
Methods Of Mckenzie and Mann in
Other Deals Point That
Way.
Special to The Journal.

Special to The Journal
New York, June 12.-The position of
Grand Trunk Pacific with regard to the
Canadian Northern is at present the cause
Of more comment and discussion in the
Wall street circles that take an inter-
est in Canadian affairs than is anything
else Ever since the Grand Trunk Pacific
scheme was first talked of last fall it has
been the opinion of these gentlemen that
the Canadian Northern will ultimately be
sold to the Grand Trunk Pacific, and now
they adhere to their belief in spite of the
reiterated denials from Messrs Mckenzie
and Mann of any intention to sell.
So far as authorities go the situation
is about as mixed as it could be. Presi-
dent Rivers-Wison Of the Grand Trunk
announced some time ago that he was in
negotiations with Mckenzie and Mann,
and hoped to close the deal. Shortly aft
erwards both Mckenzie and Mann denied
that there were any negotiations on, and
the latter stated emphatically that the
road would not be sold. as long as he
lived. Since then President Rivers Wilson
has again got into print over the mat
ter with the statement that negotiations
are now off, but that he hopes ultimately
either to purchase or make a traffic ar
rangement with the Canadian Northern.
In these statements there is little
ground to be found for the belief exist
ing in the best informed circles that the
Grand Trunk Pacific will get the Canadian
Northern. The real basis of this firm
and unalterable belief on the part of the
matters is to be found in the personalities
and methods of Messrs. Mckenzie and
Mann.
How M. and M. Have Worked.
These two Canadian captains of indus
try, easily conspicuous amongst their fell
lows for the last five years, are men who
have risen from nothing. Mckenzie halls
from a village called Kirkville, where his
assets were not considerable, and where
there was little scope offered for his genius
for promotion of enterprises. He landed
in Toronto about 1892, and became imme-
diately interested in electric railroads and
in the General Electric company. Every
thing he touched seemed to be a gold
mine. He became associated with the
Rosses, who owned and operated electric
railroads in nearly all important cities
between the Pacific and Atlantic north
Of the border. Within a very few years
he owned Niagara Falls electric lines,
Vancouver lines, Winnipeg tramways,
Toronto street railway, and the tramway
systems Of Birmingham and Manchester,
England. Out Of each of these he made
| money. He also made a great deal of
money out of the General Electric COM
pany, the controlling interest Of which
was bought at a good round price by the
General Electric company of this country,
the fact not being generally known.
Mr.. Mann came out of the woods about
eight years ago and appeared immediately
as a promoter. Mr.. Mckenzie needed him,
and they Immediately became partners.
1t is stated by those who pretend to
know more about these f1nanciers than
q ole hot f11n frcf csoh l.,
| which> they jointly took a hand was the
purchase Of the Orinoco concession, during
the Venezuelan troubles precipitated by
| Grover Cleveland's message. It was not
known, of course, whether these mineral
lands were owned by Venezuela or Great
Britain; both countries seemed willing tc
sell them. However, Venezuela disposed
| of them at good round sum to an
American syndicate and Great Britain ac-
cepted a tentative offer for a big tract
of land in that territory from Mckenzie
and Mann. The exact facts Of this dea
are not publicly known and there is nc
way of securing them, but it appears that
Mckenzie and Mann now own something
over 100000 acres of supposedly rich min.
eral lands in that territory secured under
letters patent from the throne of Grea
Britain, which controls the territory after
having disposed Of enough of their gram
to pay for the original cost of the en-
| terprise and considerable over.
Mckenzie & Mann turned their atten-
ton to the street railways of Cuba anc
| to the projected Canadian Northern. They
have done a good many other things
| since, the thoro electriza ton of the trans.
/ portation systems of Birmingham, Man.
| chester, Havana, Rio de Janeiro, being
some of these enterprises. The success;
1 that has attended these various efforts
i is pretty we'll illustrated in the fact tina
/ they have sold several million dollars
| worth of stock of the Sac Paulo tramway
/. company of Rio de Janeiro, Brazil, anG
that the company is now earning and pay.
/ ing 6 per cent on this stock. About five
years ago Mckenzie & Mann paid $40 0O(
for this tramway, with all it's rights and
! franchises. They obtained water power
/ and pretty nearly everything else by con.
cession of the Brazil government anG
managed to Jolly out of the municipal
/ government of the citW perpetual and ex.
4 elusive rights of way all over Rio de
Janeiro. This enterprise is considered
by financial experts to be one of the rich.
est gold mines" that has recently beer
| discovered.
Transcontnental Opportunity.
Mckenzie & Mann are essentially pro