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146 The Northern Mariner / Le marin du nord the forces aligned against him. The finality implicit in such an interpretation would be a dangerous oversimplification. Indeed, the elements of continuity are striking. In 1861 and for years thereafter the same management team ran the same fleet on the same lines. If the capital and ownership were different, this was nothing unusual. As we have seen, the line had undergone regular shifts in both ownership and organization over the course of its history. In fact, within a few weeks of Hamilton's assignment a group of promoters, led by his Montreal agent and one of his sons were busy advancing a company to acquire Hamilton's steamboat interests. Investors of two distinct types subscribed for stock: the agents and captains who had been involved in the Royal Mail Line the previous few years, and a group of Montreal businessmen associated with Hugh Allan. Allan controlled an unused company charter which allowed the new firm to organize immediately without the risks associated with unlimited liability partnerships or associations. Subsequently, Allan became the company president and would dominate the history of the Canadian Navigation Company for fourteen years until he arranged a merger with the more profitable Richelieu Company.25 Closely linked to the takeover of the line by the Canadian Navigation Company were several innovations in management. Most of the decision making was assumed by the directors and the paper work by the secretary-treasurer, the line's former Montreal agent. Hamilton was retained for a number of years to act as General Manager of until, after a major expansion in the late 1860s, the decision was taken to employ a superintendent whose duties encompassed most of those previously handled by him. Other responsibilities of the superintendent included the direction of salvage operations (previously left to the insurance companies), some hiring, and the supervision of vessels being constructed for the firm (a task hitherto usually assigned to the man who was to be the first commanding officer).26 At the same time the corporation proved much more adept at raising capital for expansion than had any of the individual proprietors or partners who had participated in earlier lines. The traditional method of purchase was still available, payment in a limited number of large sums over a period of three to four years, secured by a vendor's or bank mortgage. While not authorized by its charter to sell bonds, the issuance of stock raised two new possibilities. The first of these was the exchange of real capital, particularly steamboats, for shares in the company. While in many respects this parallelled giving an owner a vote in the deliberations of the managing committee of a cartel, here the option of withdrawing after a year did not 25 Weekly British Whig, 11 Apr., 19 Apr. 1861; Province of Canada, Statutes, 20 Vic., c. 169, 22 Vic., c. 125. They could have used the general incorporation principles of 23 Vic., c. 31 which would have made Allan's charter unnecessary but to get the boats they had to move quickly and this statute involved delays of a minimum of three months.; Canadian Inland Steam Navigation Company, Dividend Book, v. 15, 12 June, 16 June 1874, 16 Jan., 5 Feb. 1875, C.S.L. Papers, v. 172,; see also Lewis, Until Further Notice, chap. V. 26 Weekly British Whig, 26 Apr. 1861. British Whig, 4 Aug. 1869, 25 Apr. 1868, 12 Mar. 1870. Daily News, 10 July 1872, 26 Nov. 1873.