Canadian Pacific Railway
The Canadian Pacific Railway, abbreviated CPR or Canadian Pacific and formerly known as CP Rail (1968-1996), is a Canadian Class I railway founded in 1881. The railway is owned by Canadian Pacific Railway Limited, which took over as legal owner in 2001 as part of a corporate restructuring. The railway, headquartered in Calgary, Alberta, owns approximately 20,100 kilometers (12,500 miles) of track in seven Canadian provinces and into the United States, stretching from Montreal to Vancouver and as far north as Edmonton. In the United States, its rail network also serves Minneapolis-St. Paul, Milwaukee, Detroit, Chicago, and Albany, New York.
In order to fulfill a promise made to British Columbia when it joined Confederation in 1871, the railway was first constructed between eastern Canada and British Columbia between 1881 and 1885 (connecting with lines built earlier in the Ottawa Valley and Georgian Bay area). The CPR was Canada's first transcontinental railway. The CPR, primarily a freight railroad, played a crucial role in the settlement and development of Western Canada for decades as it was the only practical option for long-distance passenger transportation in most of Canada. The CPR grew to be one of Canada's biggest and most influential corporations, a position it held until 1975.
In 2009, the company purchased two American railroads: the Dakota, Minnesota, and Eastern Railroad (DM&E) and the Iowa, Chicago, and Eastern Railroad (IC&E). The IC&E's trackage was once part of CP subsidiary Soo Line and predecessor line The Milwaukee Road. North Dakota, South Dakota, Minnesota, Wisconsin, Nebraska, and Iowa were served by the combined DM&E/IC&E system, which included two lines that extended into Kansas City, Missouri, and Chicago, Illinois. In addition, the company owns the Indiana Harbor Belt Railroad, a terminal railroad based in Hammond, Indiana, as well as Conrail Shared Assets Operations. CP's ownership of that railroad stems from the Soo Line, which was inherited from Milwaukee Road.
Under the ticker CP, the CPR is publicly traded on the Toronto Stock Exchange and the New York Stock Exchange. Minneapolis is home to its American headquarters. As of January 14, 2022, TCI Fund Management Limited, a hedge fund with headquarters in London and 8.38% of the company, is the largest shareholder of Canadian Pacific stock. The railroad's $31 billion acquisition and merger with the Kansas City Southern Railway was approved on March 15, 2023. The combined railroad will be the first and only one to directly serve Canada, Mexico, and the United States once it becomes operational as early as April 14, 2023.
The Canadian Pacific Railway was founded in 1881 to physically unite Canada and Canadians from coast to coast, and its construction is regarded as one of Canada's greatest engineering feats. The CPR was instrumental in promoting tourism and immigration, as well as Canada's war efforts, and it grew and diversified over time to include steamships, hotels, airlines, mining, oil and gas exploration, delivery, and telecommunications companies.
Founded: 1881
Headquarter: Calgary, Alberta
Website: https://cpr.ca
