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Canadian Chartered Bank Notes
Between 1871 and 1944, Canadian chartered banks were authorized to issue bank notes for circulation in Canada. In 1899, they were invested with the additional authority to issue bank notes for circulation in any British colony or possession. For several decades thereafter, the chartered banks were the only issuers of larger denominated notes for circulation in Canada, and an important source of notes for circulation in the British West Indies. In 1934, the newly-established Bank of Canada was given "the sole right to issue notes payable to bearer on demand". Coincident with the introduction of the new Bank of Canada notes in 1935, arrangements were made for the gradual contraction in the quantity of chartered bank notes in circulation. As of the end of 1944, the Canadian government withdrew permission for Canadian banks to issue new notes for circulation in Canada; and by 1950, liability for all outstanding Canadian bank notes was transferred to the Bank of Canada, where such no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Canada
The Bank of Canada (BoC; french: Banque du Canada) is a Crown corporation and Canada's central bank. Chartered in 1934 under the ''Bank of Canada Act'', it is responsible for formulating Canada's monetary policy,OECD. OECD Economic Surveys: Canada 2000'. OECD Publishing; 30 August 2000. . p. 45–. and for the promotion of a safe and sound financial system within Canada.Financial Stability and Central Banks: A Global Perspective'. Routledge; November 2002. . p. 41–. The Bank of Canada is the sole issuing authority of Canadian banknotes,Gene Swimmer. How Ottawa Spends, 1996-97: Life Under the Knife'. MQUP; 15 May 1996. . p. 379–. provides banking services and money management for the government, and loans money to Canadian financial institutions. The contract to produce the banknotes has been held by the Canadian Bank Note Company since 1935. The Bank of Canada headquarters are located at the Bank of Canada Building, 234 Wellington Street in Ottawa, Ontario. The building als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banque Canadienne Nationale
The Banque Canadienne Nationale was a bank based in the province of Quebec, Canada. It was formed in 1924 from the merger of the Banque d'Hochelaga and the Banque Nationale, and operated until 1979, when it became part of the National Bank of Canada. History In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen.Jean-Marie Lebel. Le Vieux-Québec: guide du promeneur'. Les éditions du Septentrion; 1997. . p. 72–. In 1924, the Banque Nationale, which was struggling financially while caught-up in a serious recession,Legacy: How French Canadians Shaped North America'. McClelland & Stewart; 8 November 2016. . p. 86–. merged with the Banque d'Hochelaga (founded in Montreal in 1874) to create the Banque Canadienne Nationale (BCN, Canadian National Bank).Québec, 1900-2000: le siècle d'une capitale'. Éditions MultiMondes; 2000. . p. 79–. The Quebec provincial government, under Alexandre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imperial Bank Of Canada
The Imperial Bank of Canada was a Canadian bank based in Toronto, Ontario, during the late 19th century and early 20th century. History It was founded in 1873 as the Imperial Bank in Toronto by Henry Stark Howland, former vice president of the Canadian Bank of Commerce. The bank became the Imperial Bank of Canada in 1874. In 1875, the president of the Imperial Bank of Canada was H.S. Howland, founder of the original Imperial Bank. The bank had a capital of $1,000,000 and the head office was located on Wellington Street in Toronto, Ontario. The Imperial Bank of Canada branches expanded beyond Toronto and were found in St. Catharines, Ingersoll, Welland, Prince Albert, Saskatchewan and Port Colborne. In 1875, it amalgamated with the Niagara District Bank, which had been chartered on May 19, 1855, in Montreal. Although George Albertus Cox became the bank's president in 1890, Howland stayed at the bank until his death in 1902. Cox remained president until 1906. Daniel Robert Wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Bank Of Canada
The Home Bank of Canada was a Canadian bank that was incorporated July 10, 1903 in Toronto. It succeeded the earlier Toronto Savings Bank, which had been founded in 1854 by Bishop Armand-François-Marie de Charbonnel and the local chapter of the Society of St. Vincent de Paul and later Home Savings and Loans in 1871. The failure of Home Bank on August 18, 1923, was the subject of a Canadian Royal Commission initiated by Prime Minister William Lyon Mackenzie King in 1924. Founded with the support of the Roman Catholic Church, James Mason and Henry Pellatt represented a benign board of directors including E.G. Gooderham, Claude Macdonnell and three other directors from Winnipeg, Manitoba affiliated with the United Grain Growers. Early controversies Early in its history a number of questionable loans were advanced, including one to A.C. Frost Company to buy timber rights in British Columbia, and another to the New Orleans Gouther and Grand Isle Railway secured by a rolling stock ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Farmer's Joint Stock Bank
The Farmer's Joint Stock Bank was a bank that operated in Upper Canada, and later in the Province of Canada, from 1834 to 1854. History Following the 1821 legalization of small notes and bills of exchange in Upper Canada, the Bank was formed in 1834 as a private bank by George Truscott and John Cleveland Green in Toronto, Upper Canada. Francis Hincks, a journalist and colonial administrator, was invited to become its first cashier. In 1835, it was taken over by a group of Reformers and constituted as a joint-stock company called the Farmers' Joint Stock Banking Company by deed of settlement. The first board of directors appointed John Elmsley, a member of the Family Compact, to be its first president, which forced Hincks and other Reform investors to leave and found the Bank of the People in December 1835. When Upper Canada moved in 1837 to restrict the ability of institutions other than incorporated banks to issue their own banknotes, the Bank was exempted. A financial crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Farmers' Bank Of Rustico
The Farmers' Bank of Rustico operated in the village of South Rustico, Prince Edward Island, from 1864 to 1894. It is often considered to have been the first community-based bank in Canada. Founded and managed under the leadership of Father Georges-Antoine Belcourt (1803-1874), the Farmer's Bank of Rustico was established on April 21, 1863. The bank received Royal Assent for its act of incorporation at the Court of Windsor on April 7, 1864." The first president was farmer Jerome Doiron, and the first cashier was Marinus Blanchard, a local school teacher. The Farmers' Bank "was the precursor of the North American credit union movement through its influence upon the pioneer credit union organizer, Alphonse Desjardins of Quebec." Like the later credit unions, the Farmers' Bank accepted deposits and provided loans, primarily for less than 1 year. It showed that villagers could successfully operate a financial institution without the assistance of banking experts. However, there ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Townships Bank
Eastern Townships Bank was founded in 1859 by Colonel Benjamin Pomroy (1800–1875). It was the first financial institution in the south-east of Quebec, an area known as the Eastern Townships, and issued its own banknotes. Within a year after its founding, the bank had opened three branches. After consolidating its presence in the Eastern Townships, it opened branches elsewhere in Quebec and in Western Canada (including Grand Forks, British Columbia and Taber, Alberta). By 1911, it had over 100 branches. To increase its presence on a national scale, its shareholders agreed to merge, effective March 1, 1912, with the Canadian Bank of Commerce, which later became Canadian Imperial Bank of Commerce. The former branch of the Eastern Townships Bank at the corner of Saint Catherine Street and Crescent Street in Montreal was used as the flagship store for Parasuco, a line of denim clothing. The building is now vacant. The former head office building of the Eastern Townships Bank in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dominion Bank
The Dominion Bank was a Canadian bank that was chartered in 1869 and based in Toronto, Ontario. On February 1, 1955, it merged with the Bank of Toronto to form the Toronto-Dominion Bank, which is known as the present-day TD Bank Group. History In 1871, the Dominion Bank was launched by entrepreneurs and professionals under the leadership of James Austin with the opening of its first branch on King Street in Toronto, Ontario. They were dedicated to creating a new institution “conducive to the general prosperity of that section of the country.” The Dominion Bank was a cautious institution, “selecting its customers carefully, serving them well, and duly prospering with them” (in the words of the official history). It too created a network of branches, and in 1872 became the first Canadian bank to have two branches in one city – Toronto. With the maturing of the Canadian economy and the opening of northern Ontario and the West in 1880s and 1890s, the banks became more ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consolidated Bank Of Canada
The Consolidated Bank of Canada was created from the merger of City Bank and Royal Canadian Bank in 1876, but collapsed in 1880 and finally liquidated in 1882. References See also Defunct banks of Canada Banks disestablished in 1882 Banks established in 1876 Canadian companies established in 1876 1876 establishments in Ontario 1882 disestablishments in Canada Companies based in Toronto {{montreal-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Commercial Bank
The Canadian Commercial Bank (CCB) was a bank based in Edmonton, Alberta, Canada which failed in 1985. It received its parliamentary charter in 1975 and established its head office in Edmonton. The bank was privately owned and operated as a wholesale commercial bank. History The Canadian Commercial Bank officially began operations in July 1976, with CDN$22 million of capital. From 1976 to 1982, it operated profitably—usually in the top quartile of Canadian banking. It built a new headquarters in Edmonton, the Canadian Commercial Bank Tower in 1982. In early 1985, after investing heavily in real estate and energy sector companies, the bank became insolvent during a period of rising interest rates and a falling Canadian dollar. The federal government arranged a $255 million bailout ($ billion today) in an effort to keep the failing institution afloat. In spite of this, the bank ceased operations on September 3, 1985. It was the largest bank failure in Canadian history and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City Bank Of Montreal
The City Bank of Montreal (known in French as "La Banque de la Cité") was an early bank founded in Montreal in 1833, when it was part of Lower Canada. It was founded as a counterpart to the Bank of Montreal, whose politically conservative directors made it difficult for leading liberals to do business in the province. During its existence, it issued a number of tokens for use in trade, and is known for producing many varieties of the Bouquet sou, and for co-issuing the Habitant token along with the other leading banks of Montreal in the late 1830s. It also issued paper money. It also had branches in Toronto, and in Quebec City.Manning City Bank merged with Royal Canadian Bank to form Consolidated Bank of Canada The Consolidated Bank of Canada was created from the merger of City Bank and Royal Canadian Bank in 1876, but collapsed in 1880 and finally liquidated in 1882. References See also Defunct banks of Canada Banks disestablished in 1882 ... in 1876. Bibliog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Bank Of Commerce
The Canadian Bank of Commerce was a Canadian bank which was founded in 1867, and had hundreds of branches throughout Canada. It merged in 1961 with the Imperial Bank of Canada to form the Canadian Imperial Bank of Commerce. History In 1866 a group of businessmen, including William McMaster, purchased a charter from the defunct Bank of Canada, which had folded in 1858. The Canadian Bank of Commerce was founded the following year, issued stock, and opened its headquarters in Toronto, Ontario. The bank soon opened branches in London, St. Catharines and Barrie. During the following years, the bank opened more branches in Ontario, and took over the business of the local Gore Bank, before expanding across Canada through the acquisition of the Bank of British Columbia in 1901 and the Halifax Banking Company in 1903. By 1907 the Canadian Bank of Commerce had 172 branches. By the beginning of World War II, this had expanded to 379 branches, including a large building by Darling and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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