A privatized CN Rail wasted little time selling off a subsidiary.

Canada's first Crown corporation was established to serve the people of this nation. Foreign investors do not care about serving the public or preserving our history.
A July 22, 1993 Privy Council Order-in-Council gave the Crown corporation CN the title to all of the the Canadian Government Railways for $1 dollar. Subsidiaries of the Canadian Government Railways were:

1.)  Intercolonial Railway of Canada.

2.)  Hudson's Bay Railway.

3.)  National Transcontinental Railway.

4.)  Prince Edward Island Railway.

"The People's Railway" was denationalized two years after an Order-in-Council was signed by the Governor General of Canada:
PRIVY COUNCIL ORDER-IN-COUNCIL
PC NUMBER 1993-1603.
Date: 1993-07-22
Precis  " Authority to enter into an agreement with CANADIAN NATIONAL RAILWAYS COMPANY and to dispose of all rights, title and interest in the Canadian Government Railways lands to the Canadian National Railway Company and termination of the management and lands entrusted to CN."

The route of the Hudson's Bay Railway is defined in black. The Hudson's Bay Railway was sold to a Denver, Colorado based company called OmniTRAX in 1996. Residents of Churchill, Manitoba were left stranded for almost a year after a flood washed out some tracks and the tracks were not repaired.

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The Intercolonial Railway Line was abandoned in 1989: