Early Career
In search of opportunities, at age 18 he went to work for his cousins, the brothers Alexander and Andrew Davidson of Duluth, Minnesota. The Davidsons had started in Little Falls, Minnesota, working for a railway company and moved into banking. Andrew had become mayor and they were involved in the business of buying, marketing and financing railway land to homesteaders. Minnesota made Andrew an Honorary Colonel. Their banking business spread through the region. In 1892, at 18 Alexander McRae joined them in Duluth and learned under Andrew.
McRae's first business venture on his own account started when his father put up $1,500 and McRae became a partner with the Davidsons in a company that insured grain elevators. The Davidson-McRae company sold fire and liability insurance and surety bonds. By the 1890s they had invested in various businesses and McRae became vice president of First National Bank of Hibbing. By age 25 he had $50,000 of his own earnings accumulated. He invested in other businesses including a granite quarry.
He married Blaunche Latimer Howe, of Pennsylvania who was the daughter of wealthy a forest industry father. They married in Minneapolis on February 23, 1900. They would eventually have three daughters, Blanche, Lucile, and Margaret ("Peggy").
As McRae and the Davidsons saw Minnesota land go up in price and farmers moving west for more land, they realized the Canadian prairies were an opportunity. They formed the Saskatchewan Valley Land Company headquartered in Winnipeg.
Read more about this topic: Alexander Duncan Mc Rae
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