In 1883, the Canadian Pacific Navigation Company was incorporated. Although the stated capital was $500,000, divided into 5,000 shares valued at $100 each, the actual paid-up capital was only $336,000, divided in 3,360 shares at $100 per share. Most of the shares were controlled indirectly by John Irving, but the Hudson's Bay Company was also allocated a total 1,150 shares. This was in return for transferring ownership of three HBC steamships, including the
Princess Louise to the new company, with 750 shares specifically allocated to the
Princess Louise.
Princess Louise began its first trip for the new company on March 13, 1883, steaming under Capt. William McCulloch, from Victoria, to
Alert Bay,
Prince Rupert,
Metlakatla,
Port Simpson, the
Skeena River,
Wrangell, Alaska and way ports along the route. Also in 1883,
Princess Louise was refitted with new boilers, manufactured by
Albion Iron Works of Victoria. Other overhaul work was completed and the ship was returned to service before the beginning of 1884. In October 1887, the mayor of Vancouver, which then was the second largest city in British Columbia next to Victoria, tried to discourage visitors to Vancouver Island by denouncing
Princess Louise as unseaworth. John Irving felt this went too far, and he threatened to sue the mayor for libel. He also banned the mayor from travel on any of the company's ships. From 1886 to 1890,
Princess Louise was operated on northern routes, serving among other communities the many cannery ports in coastal British Columbia. On August 16, 1890,
Princess Louise developed a serious leak which forced the ship to return to Victoria.
Princess Louise was replaced on the route by
Islander. In 1895
Princess Louise was estimated to be worth $35,000. In September 1898,
Princess Louise returned to Victoria carrying 8,100 cases of canned salmon from Alert Bay, but on this trip there had been a fatal accident. Three of the crew had fallen overboard when they were leaning on a railing posing for a photograph. They were washed beneath the sidewheel and never seen again./ ==Canadian Pacific Railway==