Chief engineer of the Canadian and Pacific Railway, Sir Sandford Fleming was also the designer of Canada’s first adhesive postage stamps. In 1892 Fleming and his son, Sandford H. Fleming, as well as several other Canadians became interested in the inland waterway being dredged along the east coast of Florida. In a matter of time, Sir Sandford became the largest investor in the affiliated Boston & Florida land company.
But by 1912, Fleming and his Canadian colleagues had become disenchanted with the enterprise. No dividends had yet been paid on their stock. In a few short years, the Fleming group would soon reap dividends as high as 16% annually on their investment after completion of the Florida waterway and the sales of lands abutting the waterway and Flagler’s railway.