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Canadian National Railway Company

Compagnie des chemins de fer nationaux du Canada
System map
CN EMD SD70M-2, SD75I and SD60F in Alberta, Canada
Overview
Reporting mark	CN
Locale	Canada, United States
Dates of operation	6 June 1919–present
Technical
Track gauge	1,435 mm (4 ft 8+1⁄2 in) standard gauge
Previous gauge	1,067 mm (3 ft 6 in)
Length	20,000 mi (32,000 km)
Other
Website	www.cn.ca

Canadian National Railway Company

The headquarters of CN in Downtown Montreal
Native name	Canadian National Railway Company[a] Compagnie des Chemins de fer nationaux du Canada
Formerly	Canadian National Railways (1919–1978)
Company type	Public
Traded as	TSX: CNR NYSE: CNI S&P/TSX 60 component (CNR)
Industry	Transport
Predecessor	Canadian Northern Railway
Founded	June 6, 1919; 105 years ago (1919-06-06)
Headquarters	Montreal, Quebec , Canada
Key people	Robert Pace (Chairman)[1] Tracy Robinson (President and CEO)
Revenue	CA$17.11 billion (2022)
Operating income	CA$5.593 billion (2019)
Net income	CA$5.12 billion (2022)
Owner	Bill & Melinda Gates Foundation (8.11%) MFS Investment Management (4.8%) Wellington Management Company (3.17%) The Vanguard Group (2.77%) BlackRock (2.4%)
Number of employees	22,600 (2022)
Website	cn.ca

The Canadian National Railway Company^[a] (French: Compagnie des chemins de fer nationaux du Canada) (reporting mark CN) is a Canadian Class I freight railway headquartered in Montreal, Quebec, which serves Canada and the Midwestern and Southern United States.^[2][3]

CN is Canada's largest railway, in terms of both revenue and the physical size of its rail network,^[4] spanning Canada from the Atlantic coast in Nova Scotia to the Pacific coast in British Columbia across approximately 20,000 route miles (32,000 km) of track.^[5] In the late 20th century, CN gained extensive capacity in the United States by taking over such railroads as the Illinois Central.^[4]

CN is a public company with 22,600 employees,^[6] and as of July 2019^[update] it has a market cap of approximately CA$90 billion.^[7] CN was government-owned, having been a Canadian Crown corporation from its founding in 1919 until being privatized in 1995. As of 2019^[update], Bill Gates is the largest single shareholder of CN stock, owning a 14.2% interest through Cascade Investment and his own Bill and Melinda Gates Foundation.^[8]

From 1919 to 1978, the railway was called "Canadian National Railways" (CNR).

History

The Canadian National Railways (CNR) was incorporated on June 6, 1919, comprising several railways that had become bankrupt and fallen into Government of Canada hands, along with some railways already owned by the government. Primarily a freight railway, CN also operated passenger services until 1978, when they were assumed by Via Rail. The only passenger services run by CN after 1978 were several mixed trains (freight and passenger) in Newfoundland, and several commuter trains both on CN's electrified routes and towards the South Shore in the Montreal area (the latter lasted without any public subsidy until 1986). The Newfoundland mixed trains lasted until 1988, while the Montreal commuter trains are now operated by Montreal's EXO.

On November 17, 1995, the Government of Canada privatized CN. Over the next decade, the company expanded significantly into the United States, purchasing Illinois Central Railroad and Wisconsin Central Transportation, among others.

Creation of the company, 1918–1923

The excessive construction of railway lines in Canada led to significant financial difficulties striking many of them, in the years leading up to 1920:

• In response to public concerns, the Government of Canada assumed majority ownership of the near-bankrupt Canadian Northern Railway (CNoR) on September 6, 1918, and appointed a "Board of Management" to oversee the company. At the same time, CNoR was also directed to assume management of Canadian Government Railways (CGR), a system mainly comprising the Intercolonial Railway of Canada (IRC), National Transcontinental Railway (NTR), Prince Edward Island Railway (PEIR), and the Hudson Bay Railway (HBR).
• On December 20, 1918, the Government of Canada created the Canadian National Railways (CNR) – a body with no corporate powers – through Order in Council as a means to simplify the funding and operation of the various railway companies.^[9] The absorption of the Intercolonial Railway would see CNR adopt that system's slogan, The People's Railway.
• Another Canadian railway, the Grand Trunk Pacific Railway (GTPR), encountered financial difficulty on March 7, 1919, when its parent company Grand Trunk Railway (GTR) defaulted on repayment of construction loans to the Government of Canada.

The Canadian National Railway Company then evolved through the following steps:

• the "railways, works and undertakings of the Companies comprised in the Canadian Northern System" were vested in the newly incorporated Company in June 1919, with provision for the later inclusion of any of the Government Railways^[10]
• vesting of the Grand Trunk Pacific Railway System in the Minister of Railways and Canals, acting as Government Receiver, in March 1919^[11]
• acquisition of the Grand Trunk Railway System in November 1919, implemented in May 1920^[12]

GTR management and shareholders opposed to nationalization took legal action, but after several years of arbitration,^[13] the GTR was finally absorbed into the CNR on January 30, 1923.^[14] Although several smaller independent railways would be added to the CNR in subsequent years as they went bankrupt or it became politically expedient to do so, the system was more or less finalized at that point. However, certain related lawsuits were not resolved until as late as 1936.^[15]

Canadian National Railways was born out of both wartime and domestic urgency. Until the rise of the personal automobile and creation of taxpayer-funded all-weather highways, railways were the only viable long-distance land transportation available in Canada. As such, their operation consumed a great deal of public and political attention. Canada was one of many nations to engage in railway nationalization in order to safeguard critical transportation infrastructure during the First World War.

In the early 20th century, many governments were taking a more interventionist role in the economy, foreshadowing the influence of economists like John Maynard Keynes. This political trend, combined with broader geo-political events, made nationalization an appealing choice for Canada. The Winnipeg General Strike of 1919 and allied involvement in the Russian Revolution seemed to validate the continuing process. The need for a viable rail system was paramount in a time of civil unrest and foreign military action.

Acquisitions

Savage Alberta Railway

On December 1, 2006, CN announced that it had purchased Savage Alberta Railway for $25 million and that it had begun operating the railway the same day.^[16]

Mackenzie Northern Railway

In 2006, CN acquired Mackenzie Northern Railway, previously purchased by RailAmerica. This purchase allowed CN to increase their network footprint and hold the northernmost trackage of the contiguous North American railway network. Since being purchased by CN in 2006, it has been officially known as the Meander River Subdivision.^[17][18]

Wisconsin Central Railroad

In January 2001, CN acquired the WC for $800 million.

Duluth Missabe & Iron Range Railroad

The DM&IR was purchased by Great Lakes Transportation and in 2011 the DM&IR was merged into CN's Wisconsin Central Subsidiary. The DM&IR was acquired at the same time as the Bessemer & Lake Erie Railroad.

Duluth Winnipeg & Pacific Railroad

The DWP was nationalized with CN in 1918 and became a part of CN's Grand Trunk Corporation in 1971. In 2011 the DWP was merged into the larger Wisconsin Central Subsidiary of CN.

Elgin, Joliet and Eastern Railway

In 2009, CN acquired the Elgin, Joliet and Eastern Railway to assist with traffic congestion in Chicago and the surrounding area. In 2013 EJ&E was merged into the greater Wisconsin Central Subsidiary of CN.

Bessemer & Lake Erie Railroad

The B&LE was acquired with the purchase of Great Lakes Transportation and the DM&IR.

Grand Trunk Western Railroad

The GTW was merged with Central Vermont in 1971 with the creation of the Grand Trunk Corporation. In 1991 the GTW was merged with CN under the "North America" consolidation program. Many of GTWs locomotives and rolling stock would be repainted and the motive power would get the new CN scheme. Zdroj:https://en.wikipedia.org?pojem=Canadian_National_Steamship_Co
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