Yellowknife's Bank of Toronto (plaque) 01

The Bank of Toronto is a historic cabin located in Old Town, Yellowknife, Northwest Territories, Canada. The log cabin was constructed in 1939 by John Stakson, an expert log builder, in the commercial district of the Yellowknife community for use as a residence. In October 1944, the

Bank of Toronto The Bank of Toronto was a Canadian bank that was founded in 1855 by a group of grain dealers and flour millers. On February 1, 1955, it merged with The Dominion Bank to form the Toronto-Dominion Bank, which is now known as the present-day TD Bank ...

purchased the cabin and opened a new

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

for the community, joining the

Bank of Commerce Bank of Commerce, commonly known as BankCom, is a universal bank in the Philippines and is licensed by the Bangko Sentral ng Pilipinas (BSP). Bank of Commerce is an affiliate of San Miguel Corporation (SMC). Bank of Commerce has a network of 1 ...

(Yellowknife's first bank in 1938). The bank arrived in Yellowknife in response to new financial activity brought about by the intersection of gold in shear zones at

Giant Mine The Giant Mine was a gold mine located on the Ingraham Trail, north of Yellowknife, Northwest Territories. Giant Mine was within the Kam Group, a part of the Yellowknife greenstone belt. Gold was discovered on the property and mineral claims sta ...

and the resulting staking spree around the region. As the gold rush ended, the volume of business was insufficient to keep the bank profitable, and the Bank of Toronto closed this branch in August 1951. Purchased by

prospector Prospector may refer to: Space exploration * Prospector (spacecraft), a planned lunar probe, canceled in 1962 * ''Lunar Prospector'', a NASA spacecraft Trains * Prospector (train), a passenger train operated by the Denver & Rio Grande Western ra ...

Sam Otto in 1964, the old log cabin was renovated and moved to its current location on Latham Island for use as a rental residence. The Bank of Toronto was designated a City of Yellowknife Heritage Site in 1998.City of Yellowknife Heritage Building Project, 2013

References

{{Coord, 62.4700, N, 114.3440, W, source:wikidata, display=title Buildings and structures in Yellowknife Heritage sites in the Northwest Territories Log cabins in Canada Historic bank buildings in Canada Relocated buildings and structures in Canada Buildings and structures completed in 1939 1939 establishments in the Northwest Territories