Canadian National Railway

In 1918, the Government of Canada assumed majority ownership of the near-bankrupt Canadian Northern Railway (CNoR). 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. It was also brought under government control in 1920 but GTR management and shareholders opposed to nationalization took legal action, but the GTR was finally absorbed into the CNR on January 30, 1923. The company name changed to Canadian National or “CN” in 1960. CN was government-owned, as a Canadian Crown corporation, from its founding in 1919 until being privatized in 1995.