Max Aitken, 1st Baron Beaverbrook to resign and stand for re-election in a by-election. Aitken made arrangements for this, but then Lloyd George decided to appoint Albert Stanley instead. Aitken was a friend of Stanley and agreed to continue with the resignation, so that Stanley could take Aitken's seat in Parliament and be eligible for ministerial office. In return, Aitken received a peerage on 23 January 1917 as the "1st Baron Beaverbrook", the name "Beaverbrook" being adopted from a small community near his boyhood home. He had initially considered "Lord Miramichi", but rejected it on the advice of Louise Manny as too difficult to pronounce.
Max Aitken, 1st Baron Beaverbrook Gazette". In 1907 he founded the Montreal Engineering Company. In 1909, also under the umbrella of his Royal Securities Company, Aitken founded the Calgary Power Company Limited, now the TransAlta Corporation, and oversaw the building of the Horseshoe Falls hydro station. In 1910–1911 Aitken acquired a number of small regional cement plants in Canada, including Sandford Fleming's Western Canada Cement Co. plant at Exshaw, Alberta, and amalgamated them into Canada Cement, eventually controlling four-fifths of the cement production in Canada. Canada was booming economically at the time, and Aitken had a monopoly on the material. There were irregularities in the