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bitter towards Hill, in fact quite the opposite, remaining as Hill's staunchest ally throughout the remainder of his career. Stephen remained a director of the CPR until 1893, but thereafter showed only glimpses of interest in the railway. He reduced his holdings and even encouraged others to follow suit. Ironically, the principal source of
Stephen's vast wealth stemmed from his investments in Hill's railroads.
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had ended up better off than him for having held on to his railroad when
Stephen had had to liquidate his share in it to ensure the completion of the CPR. He also regretted having encouraged his associates to invest in the CPR, knowing that Hill's Manitoba Railway was a better opportunity. He was not
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Using every ounce of his experience in banking, natural flair for persuasion and business acumen, Stephen proved capable of putting together the complicated financing needed to complete the project, despite cost overruns from numerous unanticipated engineering, business and political problems. The
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with contempt, but they continued to plague him and the complicated financial structures he put together. Stephen was constantly concerned about their effect on his businesses and reputation. The syndicate, however, turned the St. Paul railroad around. They changed its name, restored profitability
419:. At William's invitation, the Stephen family came to Montreal in 1847, and George joined them in 1850. For the next twelve years George worked for his cousin, who left him the business after his death in 1862. George made his brother, Francis, a partner and eventually sold the business to him and
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To put these figures into a personal perspective, when Mount
Stephen died in 1921, after providing for his wife, step-daughter and charities, he left £1,414,319 to be divided between nineteen relatives, which worked out at about £75,000 each. Though hardly an inconsequential sum, he gave
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to paint his portrait in London in 1898 – along with that of his cousin
Strathcona – and until 2008 Mount Stephen's portrait hung in the railroad offices of the Burlington Northern Santa Fe Railroad in New Mexico, U.S.A.; it is now in a private collection at
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were the sole members of the original syndicate to have kept their nerve. Their gamble paid off and the success of the first leg of what would soon become the "world's greatest transportation system" almost immediately made them enormously rich.
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with the caveat that the land and its buildings must only ever be used for education and healing. They then contributed $ 500,000 each for its construction and after it opened in 1893 they gave a further $ 500,000 each in stock to establish an
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proved invaluable to the engineering success of the railway. However, by the end of 1881, Stephen admitted that the project was "assuming dimensions far beyond my calculations". He ceased all other activities, and bringing
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when their finances had been nothing short of precarious. But, Stephen refused to accept the argument that the CPR owed its existence to the government. He became engaged in a very public battle over several years with
1931:
490:, which led to the establishment of George Stephen & Associates, one of the most profitable partnerships in the history of North American railways. The associates were Hill, Smith, Hill's business partner
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resigned in 1883, when he realised that his own railroad would be in direct competition with the CPR for eastbound traffic. However, through loyalty to his partners, he held on to half of his shares. Next,
551:. In 1885, they sold the railroad for $ 25 million, and such was the success of the partnership (minus Kittson who retired from business in 1881) that it had already led them to win the contract with the
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but avoided public speaking and committees. He returned to Canada infrequently, making his last trip in 1894, but his influence there remained considerable, particularly to those seeking high office –
2001:
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in Canada". After
Stephen moved to England, the house was occupied by his sister Elsie Stephen and her husband, Robert Meighen, who purchased the residence in 1900. It became the clubhouse of the
438:(later Lord Strathcona). The two were to become partners in a myriad of ventures which made them both a fortune. One of their first investments was in 1868, when they formed a partnership with
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1956:
656:. By 1883, the syndicate was straining under the huge financial obligations being called of them. Stephen was risking almost all of his fortune on the venture and even used his mansion in
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of undoubted reputation, Stephen did not excel in public debate. He resigned as
President of the CPR in 1888 and approved the appointment of William Cornelius Van Horne to succeed him.
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1971:
474:. He was elected to the Montreal Board of Trade in July 1864 as a successful businessman. Stephen had begun investing in railways and formed the Canada Rolling Stock Company in 1870.
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resigned, depressing the CPR stock even further and making
Stephen's increasingly frantic attempts to find capital even more difficult. In the face of this crisis, fellow Montrealer
1896:
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In 1897, after the death of his first wife, Mount
Stephen remarried Georgiana Mary (known as Gian) Tufnell (1864–1933), daughter of Captain Robert George Tufnell R.N., of
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concerning the unpopular monopoly clause, but had to concede to public pressure in 1888, allowing the construction of branch lines south of the CPR main line. Though a
1235:
1172:, on 8 April 1853, George Stephen married his first wife, Annie Charlotte Kane (1830–1896). She was one of several children born to Benjamin Kane on the island of
1149:
211:
1145:. From the 1890s onward, he passed management of his substantial investments in Canada, the United States and England to his individual agents in those countries.
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Lady Mount
Stephen died in 1933 at Cuckfield, Sussex, England. As Lord Mount Stephen had left no natural heirs by either of his wives, his titles died with him.
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to meet with the leading financiers there. He remained as president until 1881, resigning to turn his full attention to running the company that would build the
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1901:
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Gian Mount
Stephen had a stillborn daughter in March 1900, and there were no other children of the marriage. She was said to have preferred the life at
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of his time, Stephen sought no accolades for his gestures and directed the majority of his fortune towards hospitals. In 1890, he and his first cousin,
1961:
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to Scotland. From starting life as a bare-footed stable boy, he became the richest man in Canada and closely associated with George V, whose wife,
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1300:
846:, introducing many to not only the sport but also to the region, of which he was a generous benefactor. In 1886, he purchased another estate at
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As Stephen purposefully did not want a long list of investors, the risks were high to all those involved and the CPR found few takers in
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427:, a clear sign of his early success, and by 1866 he was running his own successful wool-importing company while also investing in other
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businesses. Driven by a desire to succeed, coupled with a strong work ethic, he was already demonstrating an unusual business acumen.
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in 1919 for her work with Queen Mary's Needlework Guild, the same year her stepdaughter, Alice, was also awarded the same honour.
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resigned in 1884, forcing the other directors to buy his shares and in the process earning himself Stephen's lifelong enmity.
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Named as the CPR's first president, Stephen oversaw the monumental task of not just negotiating a route across 2,000 miles of
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fishing – an enthusiasm in which his first wife readily joined him. In 1873, he purchased an estate at the confluence of the
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790:'s government from 1882 to 1890, knowing full well the important part it played in the successful completion of the
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Though of course a very wealthy man, the CPR had taken a significant toll on Stephen's personal portfolio.
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rivers. He made regular trips to the lodge (today a museum) and entertained friends and the occasional
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1067:. Tired of the business and politics that surrounded his life in Montreal, when he retired from the
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559:. Stephen became the first president of Canadian Pacific Railway and held the position till 1888.
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and is remembered as one of the greatest philanthropists of his time: he built a new wing at the
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462:, and three years later he was elected president, in which capacity he frequently traveled to
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Property from the Collection of Her Royal Highness The Princess Margaret, Countess of Snowdon
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of Queen Mary and she and Lord Mount Stephen regularly entertained her and her husband,
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321:, in a cottage built by his grandfather. He was the son of William Stephen (b. 1801), a
246:, donated generously to various hospitals in Scotland and gave over £1.3 million to the
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1362:, and her many benefactions endeared her to hundreds. Lady Mount Stephen was created a
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and Charlotte nursed him back to health. As such, in 1887, she was first presented to
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and was its most important benefactor, having made gifts to the amount of £1,315,000.
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was assistant clerk of works in the Naval Ordnance there, though she was educated in
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A tireless worker, in private life Stephen was retiring with only one real passion –
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1282:(born Alice Brooke). Her adopted father introduced her to, and in 1873 she married,
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than he left to his individual heirs. In his will, he left little to charities in
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Types of Canadian Women and of Women who are or have been Connected with Canada
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was said to have been strongly in favour of Gian and Mount Stephen's marriage.
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final piece in the financial puzzle was secured when, in 1885, he travelled to
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1373:, which was later given to Princess Margaret, who wore it on her wedding day.
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1266:. The couple had no biological children, but had adopted as a young woman in
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to Montreal with him, they devoted all their energies to the world's second
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From the mid-1880s, Stephen began to spend an increasing amount of time in
1102:. He was created Baron Mount Stephen "of Mount Stephen in the Province of
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as it was rumoured that Stephen had used his position as President of the
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to construct three major sections of the track, and his partnership with
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George Stephen's first cousin, William Stephen, had already emigrated to
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Arthur Richardson described it as "one of the real masterpieces of the
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333:. His mother was a first cousin of the philanthropic Grant brothers of
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to obtain loans at limited rates. Stephen treated the "scribblers" of
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219:, between 1886 and 1891, was a Canadian businessman. Originally from
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in England, Stephen's country home from 1893 until his death in 1921
1262:
on 10 April 1896, and was buried in Lemsford Churchyard, adjoining
1230:, Lady Mount Stephen frequently entertained the Prince (the future
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1048:. The house took three years to complete and cost some $ 600,000.
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514:. Hill was to commission the Swiss-born American portrait painter
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1724:. Christie's Auction House, Jewellery Department, London, 2006.
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in 1888, he settled permanently in England. The Stephens kept a
387:
1126:, a CPR hotel at the base of the mountain, also bore his name.
1122:, previously named in his honour and adjacent to the CPR line.
950:. In 1901 he donated £25,000 to clear the debt resting on the
719:
1358:. She was also said to have been exceedingly popular around
450:. By the late 1860s, Stephen had become one of the foremost
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to the social life that surrounded their city residence on
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in 1886, and in 1891, he had the honour of being the first
434:
In 1866, he started to work closely with his first cousin,
262:, purchased the land and then each gave $ 1 million to the
1335:. Through this connection, Gian was a lifelong friend and
1932:
Canadian Knights Grand Cross of the Royal Victorian Order
854:. In 1918, he gave this estate to his sister's daughter,
231:. He was the financial genius behind the creation of the
366:, leaving at the age of fourteen to work variously as a
700:
famously hammered home the last spike in the railroad.
689:
to underwrite the sale of £3 million in company stock.
1286:. The union was childless. In 1919, she was appointed
172:
Georgina Mary "Gian" Tufnell (m. 1897–1921; his death)
2002:
Peers of the United Kingdom created by Queen Victoria
906:
at a shooting weekend hosted at his home in England,
350:
Stephen began life as a boy running barefoot through
1540:. No. 36545. London. 28 August 1901. p. 7.
954:, for which he was in August 1901 honoured with the
1710:. No. 36092. London. 17 March 1900. p. 1.
1689:
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1369:Gian, Lady Mount Stephen gave Queen Mary a diamond
942:to maintain it. Stephen also donated a wing to the
534:for $ 5.5 million. The deal created a sensation in
401:in 1848 - first working for a draper and then at a
184:
176:
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143:
119:
114:
98:
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67:
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1977:Persons of National Historic Significance (Canada)
415:and established a wholesale dry goods business on
293:. His first wife is credited with introducing the
1751:Photograph: George Stephen in 1871. McCord Museum
1746:Photograph: George Stephen in 1865. McCord Museum
1520:Elspeth Angus interviewed by the Montreal Gazette
1364:Dame Commander of the Order of the British Empire
1295:Georgiana (1864–1933), the 2nd Lady Mount Stephen
1288:Dame Commander of the Order of the British Empire
1213:Georgina Gascoyne-Cecil, Marchioness of Salisbury
1156:Charlotte (1830–1896), the 1st Lady Mount Stephen
227:and was the first Canadian to be elevated to the
1957:Knights Grand Cross of the Royal Victorian Order
1726:Auction of the Property of HRH Princess Margaret
1694:Lady Mount Stephen in Every Woman's Encyclopedia
1219:which neighboured the Stephen's home from 1893,
530:In 1879, the syndicate purchased the struggling
1150:Knight Grand Cross of the Royal Victorian Order
498:, an investment banker from Scotland active in
1972:Scottish emigrants to pre-Confederation Quebec
1504:. Vol. XV (1921–1930) (online ed.).
1449:, victorianweb.org; accessed 14 February 2020.
1270:, Alice Brooke, purportedly the daughter of a
965:, he reserved the bulk of his fortune for the
337:, immortalised as the "Cheeryble Brothers" in
1799:President of Canadian Pacific Railway Limited
1137:acknowledged that he owed his appointment as
423:in 1867. By 1864, he had been elected to the
8:
1741:Biography from Digital collections of Canada
1040:to design a sumptuous mansion (now known as
1897:Barons in the Peerage of the United Kingdom
1696:, chestofbooks.com; accessed 20 March 2016.
946:and made donations to various hospitals in
754:. Unsourced material may be challenged and
215:(5 June 1829 – 29 November 1921), known as
1755:
1498:. In Cook, Ramsay; Bélanger, Réal (eds.).
1496:"Stephen, George, 1st Baron Mount Stephen"
52:
31:
1408:
1406:
1311:and Jessy (née Curtis), granddaughter of
1013:Stephen's Montreal mansion (now known as
973:. Stephen worked closely with the future
774:Learn how and when to remove this message
575:track at Morant's Curve, cutting through
442:and Andrew Paton to establish the Paton (
1258:and the rivers of Scotland. She died in
1141:in 1898 to the influence of Stephen and
1129:Lord Mount Stephen sat regularly in the
1114:" (Scotland). He took the name from the
1036:In 1880, Stephen employed the architect
325:, and Elspet, daughter of John Smith, a
1663:For more on Robert George Tufnell see:
1416:The Life of Lord Mount Stephen: 1829-91
1402:
1325:Princess Mary Adelaide, Duchess of Teck
913:Remembered as one of the most generous
890:by George Stephen and his first cousin
207:George Stephen, 1st Baron Mount Stephen
1433:Lord Strathcona: The Story of His Life
1184:. Her father, a former officer in the
1489:
1487:
1485:
1483:
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961:Though best remembered today for the
681:for a personal appeal that convinced
563:Building the Canadian Pacific Railway
502:. They were later joined by two more
7:
1997:Immigrants to the Province of Canada
1992:20th-century Canadian businesspeople
1987:19th-century Canadian businesspeople
1631:. Toronto: Williams Briggs. p.
1284:Henry Northcote, 1st Baron Northcote
752:adding citations to reliable sources
1902:Canadian Pacific Railway executives
1148:Lord Mount Stephen was appointed a
858:, who transformed it into the vast
1551:Residents of Carlton House Terrace
1459:Moray Connections - George Stephen
305:of the second Lady Mount Stephen.
25:
1278:Alice Maude Stephen (died 1934),
1236:the Duke and Duchess of Connaught
933:. They gave this purchase to the
786:Stephen gave over $ 1 million to
1962:Deputy lieutenants of Banffshire
1845:Baronetage of the United Kingdom
1501:Dictionary of Canadian Biography
1436:. London: Methuen & Company.
1317:George Glyn, 2nd Baron Wolverton
724:
1677:A Naval Biographical Dictionary
1611:. 3 February 1905. p. 841.
1571:. 2 February 1886. p. 506.
1254:and fished with her husband in
1106:and Dominion of Canada, and of
956:Freedom of the City of Aberdeen
902:Lord Mount Stephen (left) with
694:Craigellachie, British Columbia
532:Saint Paul and Pacific Railroad
1907:Canadian railway entrepreneurs
1671:"Tufnell, Robert George"
1201:Prince Leopold, Duke of Albany
1017:), which was completed in 1883
266:to construct and maintain the
1:
1817:Peerage of the United Kingdom
1591:. 26 June 1891. p. 3378.
1303:The second Lady Mount Stephen
1100:Peerage of the United Kingdom
967:Prince of Wales Hospital Fund
248:Prince of Wales Hospital Fund
229:Peerage of the United Kingdom
1419:. Aberdeen University Press.
1164:The first Lady Mount Stephen
378:. The following year he was
313:Stephen was born in 1829 at
301:, was a lifelong friend and
1982:Bank of Montreal presidents
1809:William Cornelius Van Horne
1506:University of Toronto Press
1090:Stephen had been created a
870:that remains famous today.
630:William Cornelius Van Horne
603:Last Spike of the CPR, 1885
446:) Manufacturing Company of
258:. He and his first cousin,
2018:
1494:Reford, Alexander (2005).
1313:Sir William Curtis, 1st Bt
1250:while living at Faskally,
1139:Governor General of Canada
1001:than it had given to him.
547:and expanded its lines to
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1843:
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1815:
1805:
1796:
1791:
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1647:"First Lady of Australia"
1430:Willson, Beckles (1902).
1413:Gilbert, Heather (1965).
1386:Canadian Hereditary Peers
1234:) and Princess of Wales,
1087:, where he died in 1921.
944:Montreal General Hospital
838:Stephen was a pioneer of
643:transcontinental railroad
362:. He was educated at the
354:to carry letters for the
270:. His home in Montreal's
244:Montreal General Hospital
200:
170:(m. 1853–1896; her death)
110:
75:
63:
51:
1967:Anglophone Quebec people
1947:Scottish philanthropists
1927:Canadian philanthropists
1203:, fell seriously ill at
1044:) for him in Montreal's
995:Canadian Pacific Railway
952:Aberdeen Royal Infirmary
472:Canadian Pacific Railway
238:He was President of the
233:Canadian Pacific Railway
105:Charles Francis Smithers
1085:Hatfield, Hertfordshire
1050:Architectural historian
997:, he had given more to
931:Royal Victoria Hospital
884:Royal Victoria Hospital
692:On 7 November 1885, at
628:'s suggestion he hired
425:Montreal Board of Trade
281:In 1888, he retired to
268:Royal Victoria Hospital
254:, working closely with
1942:Scottish Presbyterians
1912:Canadian Presbyterians
1680:. London: John Murray.
1447:The Cheeryble Brothers
1327:, a frequent guest at
1315:. Gian was a niece of
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1098:to be elevated to the
1033:
1018:
985:substantially more to
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895:
856:Elsie (Meighen) Reford
605:
594:
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223:, he made his fame in
217:Sir George Stephen, Bt
41:The Lord Mount Stephen
1464:22 March 2012 at the
1356:Carlton House Terrace
1302:
1242:. She introduced the
1163:
1079:and from 1893 leased
1077:Carlton House Terrace
1024:
1012:
901:
881:
788:Sir John A. Macdonald
600:
585:
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291:Carlton House Terrace
68:9th President of the
1331:, and the mother of
1182:British protectorate
1042:George Stephen House
1038:William Tutin Thomas
1015:George Stephen House
929:as the site for the
748:improve this section
553:Government of Canada
496:John Stewart Kennedy
482:In 1877, his cousin
180:1 daughter (adopted)
168:Annie Charlotte Kane
37:The Right Honourable
27:Canadian businessman
1830:Baron Mount Stephen
1759:Business positions
1666:O'Byrne, William R.
1623:Morgan, Henry James
1124:Mount Stephen House
1005:Montreal to England
590:track crossing the
577:Banff National Park
397:, before moving to
1720:Helen Molesworth,
1653:. 23 October 1904.
1608:The London Gazette
1588:The London Gazette
1568:The London Gazette
1391:Golden Square Mile
1343:, at Brocket. The
1305:
1166:
1058:Mount Stephen Club
1046:Golden Square Mile
1034:
1019:
927:Golden Square Mile
911:
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486:introduced him to
276:Mount Stephen Club
272:Golden Square Mile
18:Lord Mount Stephen
1917:Canadian baronets
1875:
1874:
1806:Succeeded by
1782:Succeeded by
1773:President of the
1319:and she had been
886:was given to the
868:ornamental garden
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783:
776:
516:Adolfo Muller-Ury
344:Nicholas Nickleby
285:, living between
274:later became the
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16:(Redirected from
2009:
1952:Scottish knights
1937:Scottish drapers
1775:Bank of Montreal
1764:Preceded by
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1371:riviere necklace
1104:British Columbia
1075:residence at 17
1054:Italianate style
977:in creating its
935:City of Montreal
921:, purchased the
888:City of Montreal
860:Jardins de Métis
833:Governor-General
779:
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768:
765:
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728:
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540:Bank of Montreal
525:Jardins de Métis
460:Bank of Montreal
440:Richard B. Angus
421:Andrew Robertson
356:Duke of Richmond
331:Knockando, Moray
264:City of Montreal
240:Bank of Montreal
214:
150:
147:29 November 1921
133:
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115:Personal details
101:
89:
80:
70:Bank of Montreal
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733:This section
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1352:Brocket Hall
1349:
1329:Brocket Hall
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1264:Brocket Hall
1228:Brocket Hall
1225:
1221:Brocket Hall
1198:haemophiliac
1167:
1147:
1128:
1118:peak in the
1089:
1081:Brocket Hall
1062:
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1026:Brocket Hall
983:
960:
912:
908:Brocket Hall
874:Philanthropy
837:
818:
805:
797:John Norquay
785:
770:
761:
746:Please help
734:
702:
698:Donald Smith
691:
687:Barings Bank
675:
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607:
592:Fraser River
529:
484:Donald Smith
481:
436:Donald Smith
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410:
349:
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287:Brocket Hall
280:
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216:
206:
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194:Elsie Reford
154:Brocket Hall
149:(1921-11-29)
100:Succeeded by
77:
29:
1892:1921 deaths
1887:1829 births
1651:Yukon World
1603:"No. 27761"
1583:"No. 26176"
1563:"No. 25555"
1274:clergyman.
1192:. During a
923:Frothingham
850:, building
848:Grand-Métis
504:Montrealers
380:apprenticed
309:Early years
134:5 June 1829
88:Preceded by
1881:Categories
1866:1886–1921
1834:1891–1921
1803:1881–1888
1779:1876–1881
1706:"Births".
1397:References
1337:confidante
1333:Queen Mary
1252:Perthshire
1232:Edward VII
1194:Royal Tour
1135:Lord Minto
829:Cascapédia
808:James Hill
764:March 2016
639:R.B. Angus
634:James Ross
527:, Canada.
508:R.B. Angus
488:James Hill
452:financiers
448:Sherbrooke
368:stable boy
335:Manchester
319:Banffshire
303:confidante
299:Queen Mary
139:, Scotland
130:1829-06-05
1793:New title
1708:The Times
1538:The Times
1309:Uffington
1176:when the
1152:in 1905.
1060:in 1926.
963:Royal Vic
825:Matapédia
801:financier
735:does not
716:Aftermath
703:Stephen,
622:mountains
544:the press
478:Railroads
406:dry goods
403:wholesale
323:carpenter
185:Relatives
160:, England
82:1876–1881
78:In office
1870:Extinct
1838:Extinct
1668:(1849).
1462:Archived
1380:See also
1360:Hatfield
1341:George V
1268:Montreal
1248:Scotland
1238:and the
1205:Montreal
1108:Dufftown
1096:Canadian
1030:Hatfield
975:George V
948:Scotland
904:George V
671:McIntyre
658:Montreal
549:Winnipeg
536:Montreal
500:New York
456:Montreal
413:Montreal
395:Aberdeen
372:shepherd
360:shilling
315:Dufftown
256:George V
225:Montreal
221:Scotland
191:(cousin)
177:Children
158:Hatfield
137:Dufftown
1858:Baronet
1525:YouTube
1272:Vermont
1180:were a
1110:in the
1092:baronet
1065:England
987:charity
894:in 1890
842:in the
835:there.
756:removed
741:sources
667:Kennedy
610:forests
444:Textile
429:textile
408:house.
327:crofter
289:and 17
283:England
196:(niece)
165:Spouses
1260:London
1256:Canada
1196:, the
1190:London
1170:London
1073:London
999:Canada
991:Canada
971:London
821:salmon
707:, and
679:London
650:London
620:, and
618:rivers
614:swamps
494:, and
464:London
399:London
391:mercer
384:draper
358:for a
352:fields
252:London
1244:canoe
1174:Corfu
1083:near
1028:near
709:Angus
705:Smith
382:to a
376:hotel
295:canoe
882:The
827:and
739:any
737:cite
685:and
662:Hill
652:and
626:Hill
601:The
586:The
571:The
510:and
466:and
388:silk
386:and
212:GCVO
144:Died
120:Born
45:GCVO
1633:245
1523:on
1323:to
1280:DBE
1246:to
1226:At
1168:At
1069:CPR
969:in
792:CPR
750:by
588:CPR
573:CPR
557:CPR
523:in
454:in
393:at
329:at
250:in
1883::
1686:^
1674:.
1649:.
1605:.
1585:.
1565:.
1472:^
1405:^
958:.
866:)
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645:.
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1635:.
1508:.
1290:.
862:(
777:)
771:(
766:)
762:(
758:.
744:.
132:)
128:(
20:)
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