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 me   tttorrmow ou not 
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I .tn<B~_l.‘is`{. »'$BttM.¥_..s.} CHARLOTTETOWN, PRINCE EDWARD ISLAND, CANADA, sA'1URDAv, FEBRUARY 17, Igoe.
it
is
ER MONTH
Y TW() CENTS
-a
m
in
“Q
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z
S22
'°~s
_ f
CA ADIAN BA K F COMMERCE Acoutntis
Y PURCHASE THE ERCHANTS BANK OF P. E. .
The Head Offices and Branches to be Continued as Heretofore---No Change to be Made in the
Officers---Canadian Bank of Commerce has Canital of Ten Million Dollars, Rest of Four
Million Five Hundred Thousand and Assets of One Hundred Millions---V. C. Brown of Bank
of Commerce comes to Charlottetown to Close the Beal---The First and Only official
Announcement Given Exclusively to The Guardian---Some Account of The
Canadian Bank of Commerce. interview with V. C. Brown---History of
table
Bank oi Commzrce ion as will appear from the following, circuit o_¢ the`Dominion and by so much _.__
oi l‘rlnce iitlward Island by the Canadian
’_)nt4u-io and Quebec _"_
B. Columbia and Yukon
'l’he acquisition oi’ the Merchants' Bank Northwest Provinces V 43 “
Maritime Provinces 15
United States 5 “
sansnwt
11 ~
liank oi Commerce will he a matter of Lond°n'E“ghmd 1 ..
t-ngtipring interest to our readers. Any
The distribution of the stock of the
ntnntentary feeling oi' regret lor theretire- Cmmdmn Bunk or Commerce “hm shows
ntrnt. of the familiar and popular name oi that' “B shares have formed an ummmvu
tho Merchants from the list ot nur ilnan- mvestmenb (ur capmluus thmughwtl the
vial institutions must yield to a sense oi
irratiilcation that one ot the greater
iinnks oi Canada and oi North America
mot-ectis to its plaue and will herealter be
vsittiiliaited in our midst, transacting
i-ussiness upon n more extended scale at
the old quarters. oi the Merchants' on
tit-out George Street, under tho same well
known and popular Manager and stnfl'.
\\'i'iI~2N IT WAS FOUNDED.
The Canadian Bank ol Commerce was
rstubllshcti in Toronto in 1907 to meet the
in-nn-ing commercial demands ot that
rapitlty advancing ami progreeive city and
ni the big Province ot Ontario. Its first
dirt-etore were, Hon. William McMaster, _
i’rt-sident; II. S. I'Iowland,Viee President; - the enum Cnnudhm p“b“c_
.itunes Austin, William Elliott, T.
Sutherland Stayner and John Taylor.
'Tho paid up capital oi the new institu-
tion at the close oi its ilret year was
$lllti_tt'»ti and the Rest $40,000. In 1872 the
capital had betln twice increased and
aniounted to $11,748,034. in |871 the
.»..,.u..t win ina.-than to so,ooo.ooo with A
lit-serve Fund amounting to $1,000,000.
in the mcdntime the (lore Ilnnk,
with headquarters in linnillton had been
t\vt|uix'rti by the Canadian Batik of Com-
ntorre, with aproportlnnato extension
of the latto\"s business.
ITS POSITION TODAY-
’l`oday ths paid-up capital ol thc
t7anadian1Bank oi Commerce is $10,000,000
with a iteat Account of $1,500,000, “D0
the total assets as Shown by the latest
ilovernment returns are over l\00.000»w0-
itxhueinesa has extended eastward to
tin- Atlantic, westward to the Pacino anti
nurtliivard to f mg gold rogiona oi the
Yukon. lthas grown with thegrowth
ofthe Dominion and has proved a great
factor-in the commercial and industrial
developments! Canada. ‘
In hm "ie mwl numb" of hmmm” oi the Dominion, standing high in favor
ni the Canadian Bank oi Commerce was
til. Nowiu branohes number itll. 'i‘he` hm” bw" umb“.hed’md ‘mmmm me
extension has been made In part by
llmaiasmatioa with other banks, Thus
the Bank ol British Columbia joined its
fortunes with the Canadian in 1000 and
the Hailiax Banking Company in M02.
Dominion and beyond its borders. Titus
Ontario, the home Province of the Bank,
is the residence M1320 shareholders while
1,100 reside in jother Provinces and 1052
in other countries.
t-Aer rn;-;stDna"rs.
The Canadian Bank ol Commerce ha
the ability, the progressive spirit and th
Presidents have included I-Ion. Wiilia
MeMaster,1S6'l to 1886* Henry W. Darling
The Merchants Bank of P. E. Island.
d' Canada from easttowesi, andare planted of all the Canadian Provinces except our continued when and aitrr the formal
Hlstory of the Cana Ian in all the populous centres oi the Domiu-i own, Its coming here completes the transferis lnado.
been distinguished from its inception hy
8 purpose. Thlswillrequiro some week
dem famsmm of ns dlreummte Im In the meantime thercseems no reason Branches in Nova Scotia and New
pru »
adds to the appropriateness of its nam
th distinctively CanndianBauh W
having this important Bank establtshe
`in our midst.
THE TRANSFER.
take over the business oi the Merchant
inspection by an oiiicer of the purehasin
will heartilyendorse the agreement whio
B
*doubt not that ns the years go by v_ C. Brown
four people will more and more
-heartily appreciate the advantage o
As above stated the Canadian Bank o
s
Commerce has agreed to purchase an
Bank. The amalgamation, Lhss been a
we learn effected after afull and earefu
Bank and on terms mutually satisfactory.
This agreement awaits the formal rati-
s iication oi t.he shareholders of the loea
Bank at the meeting to be called for that Halifax Banking Co., a few years ago
L has been made, and this done the form
m to doubt that the meeting of shareholders Brunswick, and our entry into Prince
a
2 Au inservice, ,want
f i..
A V. C. 1lrown,Inspecior of The Canadian
1iankoiCommercc, who has been in
Charlottetown for the past [ew days was
interviewed by a Guardian reporter.
¢ Asked,“What has influenced the Bank of
d Commercetotake this stcpi" he replied:
'V “It is perfectly natural. It you look over
S the list oi our Branches, you will find that
1 in the western portion of the
S countryjlrom Ontario to the Pacific
Coast the Bank has n Branch at
almost every place oi import-
\ ance. The amalgamation with the
s. gave us an excellent representation of
h Edward Island rounds out our situation
1 in the Maritime Provinces admirably."
THE iiiANAi1EMEN'l'.
L
Esq, 1880 to 1890; and i-ion. George A. Co
from 1800 to the present time. Taos
gentlemen, some of whom have passed
away, enjoyed the fullest confidence o
The Bank has been not less iortunsto
inite General Managers, Tile list inirlli
des A. Greer, 1l~lti7»68; ii. J. Dallas, 1808-70;
Iicary S. Strathy 1870-73; \’V. N. Anderson
1873-1880. ami Byron E. Walker from
likiti down to the present time. Mr.
Walker may be said to have grown up
with tho Bank, having been engaged in
its service since its incorporation in 1807
and risen by his ability and merit to his
present high position in the ilnanelal
world. lla has been General Manager oi’
this great institution durirlil a proloaKefl
periad,covering the time oi its greatest
growth and prosperity. lic has an ahh-
associatu in Assistant General Munailer
Alexander Laird, who has also been ia the
service oi the llank sinoo |807.
nnaxr rtsaxsviai. s1'|tr:Nu'rn.
Tho Guardian has no hesitation in nom-
ntending the Canadian Bank oi Commerce
to its readers and the businesscommunlty
of Charlottetown and the Province as one
oi the vary foremost financial institutions
in every Pmvlncs .where its branches
but possible security tn depositors. We
beliavo they will aDPi'¢ciate the introduc-
tion here oi so strong a bank, entirel! ll'-"
yond tha possibility oi being shaken Dr
disturbed by local utiverss conditions.
The Bank of Commerce is already y ts
IIRLNCIIIN IITABLIIHHII.
The branches relcnod to dot the mar ot
E transfer will at once be eifecled. Th
business oi the Bank will be carried on as baaks'are not as ready as the local in-
f usual in the meantime, and as eleewhe
stated, the :same oiileiul staff will b
O
e “It has been contended that western
are not desirous of lending their money
here Z"
“That is sheer nonsense. Such
statements if traced to their source
would be iound to amanate from
interested parties. The success ol
a Bank of national importance
demands that it shall be ready at all
times to meet the legitimate require-
ments of the mercantile commun-
ity in any and every place where
it does business. There is no
reason in the world why we should view
business oifered us in British Columbia,
Manitoba or Ontario in the slightest
degree differently from that offered in the
Maritime Provinces. We would be quite
as anxious to auoment the Bnnk's busi-
ness and goodwill in Charlottetown, for
example, as in Vancouver, Winnipeg,
Toronto or anywhere else."
“Do you think the entry of the Bank
of Commerce is at all calculated to be of
beaeiit to the business interests of Prince
Edward island?"
“Surely there can be no two questions
on that pointl Anything which adds to
the number of important sources from
which the business community can look
re stitutione to assist the business interests
e 'oi the Maritime Provinces, and that they
.for financial assistance must. Renerally
speaking, he advantageous to that com-
‘brsnehea occupying the business centres
il i MEWJHANTS BANK OF P. E. ISLAND.
` munity."
“Will there be nny change in the policy
pursued by the Merchants Bank with
regard to its borrowing customers 
~ "Ablol11tely none whatever. We have
had an opportunity to thoroughiyexamine
the business ot the Bank, and I can there-
iore speak positively on this point. Prince
Edward island is more than anything
else an agricultural country: the <»ondi»
tions here are very similar Lo those witl\`
which we are very familiar in Ontario;
and there is no kind of business which
'we view with greater favor than that
which rests directly and indirectly on
the products of mixed farming. We
shall always hc ready to satisfy the
legitimate requirements of our customers
here as elsewin.-re."
“Will titers be any change in the
administration of the Bank here.”
“None. The affairs of the Merchants
Bank have been administered in a manner
which reflects the greatest credit on the
directorate and management, and wc are
much pleased with the general charnutcr
of the loans. In closing the agree-
ment of’ purchase we made it
one oi _ the conditions-indeed the
condition oi paramount importance-that
those who have had to do with the
administration of the Merchants Bank’s
affairs, should continue to direct the
business ofthe Bank under the new condi-
tions. The gentlemen in question have
demonstrated in the most marked manner
their fitness for this responsibility.
The Executive at Toronto will seek to
keep themselves hilly ini'ormetl rcgarriing
the llnnl-t`s business lni,ercsisltert~,lvut the
ofileials at Charlottetown will be cnt.tn~t~
ed with the fullest measure of discretion.
History oi the Merchants
inland was cstablisiicd in the year lrflti
hy n numlrer of the leading pub
presidont.'e seat fell to the lot ot W. .\
lie spirited men of the City D
and Province. The need Of -*U'~'l‘ ‘“‘ inosi.popnlaroliltiol-. tint t l- ni. t in
inslitutiolt under local rontrul lnui been liavt-init~< .~t-|\‘it-tu lit- i... |»..n in ‘
apparent, and dr-sired for sonic time i'
t
late I`ien_i. iienrtv, nntlnr witnst- _t itnlni.
tration the lltisiitess of ilu- lS.\nl. .itltztin -ui
with nntttttty. ut. tttntti in tm.-...t_.».
1001, called back to the cliaii- nl' pit _ .ni
critter, w. A. \\u-¢1<»-tt..- 1.»...l..| ,tn-»..
dent ns allow sttitt-tl-:uni that .ttn.|t‘.-iv,
the list up to tin- pit ~ »n1 ima-,
tin-_ \\'ot-th inn-nic- lt..-it .,-=tti...|.tt
in the position of |»rt-.~i-it-nt ~tnt».- tit.-
deathoi Mr. iluartz. iiv \.iTi it-:tritium
in the ineuinl»rnn:_v ni that ntltt .- nnl it vin-_
change is finally eoniplt-it-ii.
rut: inntzt r.-n<.
Amnngthe int-n who hail- |'t.»n. tins
served on tht- tiirctetoi-:tio tt lin- Altr-
cltaats Bunk of Prime livin at-i i\i.»:t-I
maybe nientionc-ti snth ptt.t..in|-nt .nt
zens nsfthc late (lat-n t`tmnt»lt_\' uint .-
plienoutcnal rise iront rt l.nylt<»..<l visit
was untronbleil ity \\i-atitlmi .tm '.,|n»l in _i
fortune that uns pint-.-ti.i_\ in <\i~ i
any other inthis pro\‘iin-t- niitin- -_
remeu_\i»cred by reader.-. of ’|'|n~ on .- i
Chief Justice Suilivttn, tilt' !:tl\~ l.. l.,t t.
L. C. Owen, the inte -1. 1". iIt»i»t»t<~\»|t. 'lit
late llcnaiii i"i\\qul\1u'_»tnt, limi. I-1. tl
Peters, Senator liiaotlonnitl, owl tin- i.t',t-
Senntor I’rn\\‘.~w.
'i`l\c present liom-.i of iln-nt wr. t..n~i
of President \V. /\. \\'rvi;~; \ it t- l‘tt- -
dent I".ii. lienrtz tn ~on ni tit-» iw.-
Presldonti; i‘remi<~r l't-Loi-.~; .\. l’. l‘|..-.t .
tot iliurray iinvltor, it son ni tin- ln.-,
Senator Pruwsei; and ilinlnn of
Summerside.
Branches of tin- il.\nl;_ flntintr |l.t~
presidency of l’t-1-.sitit-nt lit.t|t.-_ n. 
estttblisitcti til .-\lln-rlun. .\lt»||i‘t;;\t~-,
Summers-ide and at Syiint-_y 4'. iz, 'lin-ir
introduction in vault ui thi-tn tn\\|\~~ int-
been met \\ ith ivnrm |»ui»iit» ttppit-\_\i .intl
n ready patronage. 'i`n<~ :~`nnt t\ mat.. ll tt
the pri-niirx' om-~ii;\\'i|\;; lint-n ~~.\ ti.».~l,--t
i|\ l-ffl.
The haul; has al\\:\,\~, into \.»;.t\i.~.v
with tht- tgtrurrnl pnl Ii. .-izni int . »\|\\._) .
been well .sitppottrri ily |_n~|t;t-._ ,.1 i. ..\
all points \\ in-rv il. i~. ttnin; tin-im ».
its first oflivo \\n_~ nptrt-i nn \\.t:.»
Street in-ing iifu-i\\atti~ t‘t.t.t~\t.t t . i-
pi-t-act\tt|\\ttt'i\-ts :titer tin- tl.»~n._ tt: rin
Bank of P, E_  tl.ntttort~t-tnt-.- t-;.t\\.t.,i it-1, int- ,nt ...rm
vacant. iiere tin- in_~tirnti.-n i. <|.n...»i
' The Merchants flank of Prince Edward “thy ,ms ¢.,-,,v¢,,i.-,.ii,- |..»,...,.i_
` viii: t \.~|ttrt:_
1't~ot»n|.lyttn~.»n~t.t.-.»a| M - : - _ '. \ _
nvismi is our ni' tin- inn.. vit ittr tits.
roar-nt position stnrt- toil . =.n-| |. t~ i ti ;t-i
t-ot\ti~ilnttt~ti in tin- silent-.-». tt|t1n~ l' tn-
previoua, anti its installation was tu many _
ti-nn_~n--tton.-.
an appreciated convenience, The first
°"’“"'°"° “f °"° “““k “'“" "‘“` "‘“‘ "°"°"" itat-nn.; it nun. or .\tt-.tl.n-i.~.»t.'- ..n..i...,.-1
,L0"iI“'0fi-ll. and Wm, 1\lei.can who is and experience to i-onti|nn- tin- in .-.t
stlllailva was its first ca_~hh-r. When ment uftiieltvaiiofilt-c.
Mr. Longworths death took place the 'n“"““""‘”-" “L ‘l"` 'll"""""‘l "
oi the ilank are men who h.t\.- t nn.
'i‘he Ilnnk oi(Joi\t||ii~|'i-»- i~ im nw .-
‘ cd the confiidcnre of the p:it.t.|_~
Weeks, who for some years filled the \,m_n“u°n __ dc,4(,‘_,_i"L, mv, A
position with probity :and unqualified oi’Heinla,iatnilIar with t|r:.ti:.-,.t,n t
,,p,,f,¢,,|,,,, go an who were b,-¢,,,g|,¢ qualified to give satisiat-tion. 't't..l t
bc no changes in the stan of ont i it
‘“w°°°°"°° wm'°h° °°“°°'"' as advisory tuntlinttti. tt it .
- - - .- -.-.»_- - t
Mr' wwkl K." ph” w Sir I’°“i” among thc niciitls-rs nt iii-~ ;,. .
Dsvlcslwhose ocoupancb 01'-h°nf"lil¢\\t'= titreotomtt-_ anti it it ...nt ,t=_.-,» tn.-
ofiiee continued until his removal to lthcrc will he no t-lntngc nh tt. .t t .-. 1 .
Ottawatolive. policy which has govt-rn--tl tn .~ : nt .
mi rnnstnlnrs. i-tration of the tilt-rtltf.-.ts t'.t-_. t. t
Sir._I.ouis Davies was iollowetl by the ness.