Elsie Reford was born Mary Elsie Stephen Meighen on January 22, 1872. She grew up in Montreal where her father was president of the Lake of the Woods Milling Company, the largest flour milling company in the British Empire. Her mother, Elsie Stephen, was the youngest sister of George Stephen. George Stephen was a railway baron who had made a fortune building and operating a railway from St. Paul, Minnesota into Manitoba in the 1870s. The St. Paul, Minneapolis and Manitoba Railway was the foundation of a business empire that spanned the North American continent and made Stephen and his principal partners, his cousin Donald Smith (later Lord Strathcona) and J.J. Hill, some of the wealthiest men of their time. In 1880, Stephen founded the Canadian Pacific Railway. As president and principal financier, he was chiefly responsible for building the transcontinental railway that linked Montreal to Vancouver, completed in 1885. Stephen’s accomplishment earned him recognition from Queen Victoria, who made him Sir George Stephen, baronet, of Montreal and Grand-Metis, Quebec.
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