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Much of the financing was raised in England where the head office was established. An English construction firm won the contract to build the Toronto to Montreal section, while Gzowski & Company received the contract for the Toronto to Sarnia section. Casimir Gzowski, more familiar with the Canadian conditions, made a fortune while the English firm suffered heavy losses. By 1867 the GTR was the largest railway system in the world but insufficient levels of traffic halted further expansion. In 1882 it tookover its principal competitor the Great Western Railway and by the 1890's it was ready for another round of expansion by double-tracking its main line and by buying more than a dozen smaller railway companies. Its success led it to setting up the Grand Trunk Pacific which from 1906 to 1914 built a 4800 km line from Winnipeg to Prince Rupert, B.C. It was unable to compete with the established Canadian Pacific Railway and its failure led to the bankruptcy of the GTR in 1919. |
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