The shares of the Northern Navigation Co. Ltd. and of the Inland Lines Ltd. were purchased and paid for with fully paid up stock of the R. And O Navigation Co. Five additional directors were added to the reorganized Richelieu And Ontario Navigation Co. James Playfair became the vice president and managing director.
The stocks of the Northern Navigation Co. Ltd. and Inland Lines Ltd. were acquired and settled using fully paid-up shares from the R. And O Navigation Co. Five additional board members were added to the restructured Richelieu And Ontario Navigation Co. James Playfair took on the role of vice president and managing director.