Transfer of ownership
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.[13]
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.[13] On May 4, 1883, the new company announced that Princess Louise would be put on a regular route from Victoria to Burrard Inlet and Port Moody, British Columbia.[14]
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.[15] 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.[16]
From 1886 to 1890, Princess Louise was operated on northern routes, serving among other communities the many cannery ports in coastal British Columbia.[15] In 1898, Princess Louise was used like many other ships on the west coast to carry gold seekers to the Klondike goldfields.[17]
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.[18]
In 1895 Princess Louise was estimated to be worth $35,000.[19]
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.[20]/