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 shares of the Northern Navigation Co. Ltd. and Inland Lines Ltd. were purchased using the equity of the R. And O Navigation Co., which led to the formation of Richelieu And Ontario Navigation Co. with five additional board members, including James Playfair as vice president and managing director.