Banking and Industry
Angus's wealth now allowed him to further invest in the vast number of companies associated with the CPR and its directors. Among others, he sat on the boards of Canada North-West Land Company; Royal Trust Company; Dominion Bridge Company; Dominion Iron and Steel Company; Grand Falls Power Company; Pacific Coal Company; Canadian Salt Company; and the London & Lancashire Assurance Company in England.
He joined Sir William Van Horne and former CPR contractors James Ross and Sir William Mackenzie as an investor in street railways in Montreal, Toronto and Winnipeg. Prior to his death he would be the principal shareholder in Mackenzie's Toronto Power Company. He invested with Van Horne in the Laurentide Paper Company, was among the founding financiers of the British Columbia Sugar Refinery and was a principal backer of the Federal Telephone Company. The British Columbia Sugar Refinery was started by Benjamin Tingley Rogers, the 'brash' husband of his niece, Mary Isabella Angus.
Angus also played a role in maintaining the close relationship between the CPR and the Bank of Montreal, whose growth in the Canadian West ran side by side that of the railway. In 1891, he returned to the bank as a director, and after the death of Sir George Alexander Drummond, he was elected as the Bank's president from 1910 to 1913, when he was succeeded by his son-in-law's brother, Sir Vincent Meredith. By 1912, Angus was one of the bank's largest shareholders and after retiring as president he remained a director until his death.
Read more about this topic: Richard B. Angus
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