\.. 
 
EXLlBRISUNiVhlSnYOFCALIFQI^lA.^, 
 
 JOHN HENRY NASH LIBRARY 
 
 <$> SAN FRANCISCO <^ 
 
 PRESENTED TO THE 
 
 UNIVERSHY OF CALIFORNIA 
 
 ROBERT GORDON SPRQUL. PRESIDENT. 
 
 Mr.andMrs.MILTON S.RAY 
 CECIET, VIRGINIA AND ROSALYN RAY 
 
 AND THE 
 
 RAY OIL BURNERCDMPANY 
 
 SAN FRANCISCO 
 NE"WYORK- 
 
 rt4m^ 
 
 University of California • Berkeley 
 

I? 
 
Digitized by the Internet Archive 
 
 in 2007 with funding from 
 
 IVIicrosoft Corporation 
 
 http://www.archive.org/details/centenaryofbankoOObankrich 
 
THE CENTENARY OF THE 
 
 BANK OF MONTREAL 
 
 1817-1917 
 
/ 
 

 BANK OF MONTREAL. 
 
 HEAD OFFICE BUILDING 
 
 MONTREAL 
 
t 
 
 <' •> 
 
 Qrhe 
 CENTEKARY 
 
 of the 
 
 BANK OF 
 MONTREAL 
 
 1817* 1917 
 
 7" 
 
 I 
 
 J^ 
 
 1 
 
 HEAD OFFICE 
 
 MONTREAL • CANADA 
 
 1917 
 
 ^=^ 
 
COPYRIGHT 
 
 CANADA, I917, BY THE 
 
 BANK OF MONTREAL 
 
 MONTREAL, Q.UE. 
 
CONTENTS p^g, 
 
 IntroduAion 5 
 
 Foundation of the Bank, 1817 7 
 
 Commencing Business, 181 7'i 820 14 
 
 The First Charter, i82i'i83o ai 
 
 Political Agitation and the Two Canadas, i830'i840 28 
 
 Progress and the Hon. Peter McGill, i84i'i86o 37 
 
 The American CivilWar and Mr. E.H.King, 1860-1873 .... 44 
 
 Development of the North'West, i873'i90o 51 
 
 Prosperity and the Great War, I900'i9i7 58 
 
 APPENDIX 
 
 Board of Directors and Executive Officers 70 
 
 Branchesof the Bank of Montreal 71 
 
 Growth ofthe Bank during Past Fifty Years, i867'i9i7 .... 75 
 
 Bankof Montreal, General Statement, 30th April, 1917 .... 76 
 
 Presidents, Vice-Presidents, Cashiers and General Managers, i8i7'i9i7. 78 
 
 Original Shareholders ofthe Bank of Montreal, 1817 79 
 
 Honour Roll (A(ftive Service List to 30th September, 1917) ... 83 
 Decorations Won by Members ofthe Bank of Montreal StaflFup to 30th 
 
 September, 1917 106 
 
 fit 
 
 ILLUSTRATIONS 
 
 Head Office Biulding, Montreal, Exterior View .... Vrvntispxcce 
 
 Presidents 9, 17, 23, 29 
 
 General Managers ■ . . . 35,41 
 
 Vestibule, looking towards Main Banking Room 47 
 
 PartialView Interior ofMain Banking Room 53 
 
 OldWoodcut, showing Original Site of Present Building .... 59 
 St. James Street in Winter, showing Headquarters of Bank i8i9'i848 . 63 
 Robert Griffin, First Cashier, Bank ofMontreal, from a silhouette . . 67 
 
 View ofOld and New Buildings of Bank 81 
 
 The Bank's Royal Charter 85 
 
 Specimens ofthe First Bills issued by the Bank ofMontreal ... 93 
 Bankof Montreal Coinage 99 
 
DESIGNED, ENGRAVED AND PRINTED BY 
 
 THE HERALD PRESS 
 
 AT MONTREAL AND TORONTO 
 
INTRODUCTION 
 
 THE third of November, I9i7,is the hundredth anniversary of the 
 openingof the Bank of Montreal. The oldest bank in BritishNorth 
 America and one of the largest in the British Empire, the record 
 of its rise and growth fills an important chapter in our financial history. 
 Standing in the heart of Montreal, on a spot glorified by some of the 
 most romantic events in the foundation of the city, the Head Office of 
 the Bank, by its very situation, calls attention to the fact that this in' 
 stitution has its place, and no unworthy place, in the story of the mak' 
 ing of Canada. Its fine Corinthian facade, darkened by smoke and stained 
 by the weather, faces Place d'Armes, in the centre of which rises Hebert's 
 heroic figure of Maisonneuve, founder of Montreal. Opposite, on the 
 southern side of the Square, is Notre Dame, greatest in capacity of the 
 churches of this country and one of the oldest in foundation. Adjoin- 
 ing the church is the ancient and picturesque wall which shelters the 
 headquarters of the Seminary of St. Sulpice, whose founder, the saintly 
 Olier, saw Montreal in a vision before any white man had set foot 
 there. Within the limits of the Square, Maisonneuve is said to have 
 fought his most terrible battle with the Iroquois, and to have killed 
 the chief with his own hands. Here, in the parish church, Dollard and 
 his companions paid their vows before going to meet death at the Long 
 Sault. Tablets on the commercial buildings roundabout commemorate 
 the deeds of the pioneers, and tell us that here lived La Mothe Cadillac, 
 the founder of Detroit, and there Daniel de Gresolon, Sieur Dulhut, who 
 explored the Upper Mississippi and gave his name to the City of Duluth. 
 Looking south and north from the statue of Maisonneuve, one may 
 well imagine that Montreal was called into existence by the dream of 
 a mystic, that its infancy was saved from extinction by the valour of a 
 warrior, and that it has been dowered with an enduring strength by 
 the courageous spirit of its merchant citizens. 
 
 Of the dramatic and picturesque incidents which gave all the elements 
 of romance to the birth and settlement of Montreal there is abundant 
 narrative and tradition, but it is difficult to find any authentic descrip' 
 
Intro' tion of the economic environment of the founders of the Bank one 
 duction hundred years ago. The only organizied portions of what is now the 
 Dominion of Canada were the provinces of Upper and Lower Canada 
 and the maritime provinces of Nova Scotia,New Brunswick, and Prince 
 Edward Island. Their whole population was less than 400,000, and that 
 of Montreal, already the chief trading centre, less than 20,000. Lower 
 Canada, the most populous of the provinces, was almost entirely French, 
 and the descendants of that virile race maintained an attitude of uu' 
 friendliness to the British immigrants. The dangers of the American 
 Revolution and the war of 18 12 had been successfully weathered, but 
 the seed of the rebellion of 1837 was already in the soil and its harvest 
 a subject of prophecy. 
 
 The chief export trade of the City of Quebec was in timber, that of 
 Montreal in furs. Ginseng, potash, and grain came next in importance. 
 The imports consisted mainly of dry goods, hardware, spirits, sugar, and 
 such necessary commodities as the colonists were not able to produce 
 for themselves. Domestic trade was carried on principally by barter 
 and exchange. Shopkeepers who bought from the merchants were com' 
 pelled to give long credit to the settlers, who almost invariably made 
 payment in form produces, which were shipped to Montreal in settle 
 ment of their accounts. Long distances were unabridged by any system 
 of transportation, or even by roads, and trade between the provinces 
 was conducted with great difficulty; while intercourse with the old 
 country depended upon an ocean voyage which, under the most effi' 
 cient navigator, often took three months to accompUsh. 
 
 These were some of the unpropitious conditions of the time, and we 
 shall do well to remember the hardy merchants of Montreal, who, 
 taking their courage in their hands, started the enterprise which now 
 celebrates its hundredth birthday. 
 
 The value of that enterprise ought not to be measured by its success 
 as a joint'Stock undertaking, by the amount of its capital or the sizie of 
 its dividends, but by the security it has given to those who have trusted 
 it, the facilities it has frimished for the exchange and the increase of 
 commodities, and the assistance it has contributed to the development 
 of the country. With that measure in mind, an attempt is made in the 
 following pages to sketch the beginning, the early trials, and the pro' 
 gress of the Bank of Montreal from its foundation to the present day. 
 
 [6] 
 
FOUNDATION OF THE BANK 
 1817 
 
 S the earliest banks of Europe were banks of ex' 
 change, instituted to remedy the inconvenience 
 arising from the uncertain value of foreign cur' 
 rency, so the earliest attempts to establish a bank 
 in British North America were necessitated by 
 "the deficiency of specie or some other medium to 
 represent the increasing circulation of the coun* 
 try" and by the loss and difficulties attending the 
 use of the variety of money then current. In Mr. 
 R.M.Breckenridge's valuable treatise, "The Canadian Banking System, 
 i8i7'i89o/'to wmch these pages are indebted (without further acknow 
 ledgment) for frequent citations, it is stated that not only American, 
 British, and French, but also Portuguese and Spanish coins were legal 
 tender in Canada towards the close of the eighteenth century, and that 
 the ratios of their exchange into colonial money of account were sub' 
 jedt to frequent variations. 
 
 The country was too poor to afford the luxury of a metallic circu' 
 lating medium, and the development of trade and agriculture, mainly 
 through the enterprise of Scotch and English immigrants and of refu' 
 gees from the American colonies, was hampered by the lack of faciHties 
 for exchange. These circumstances led three firms of Scotch merchants 
 to start, in 1792, a private bank at Montreal, under the name of the 
 "Canada Banking Company." The plans of its promoters were not fully 
 carried out, and its career was brief In 1808, certain citi2;ens of Quebec 
 and Montreal applied to the Legislature of Lower Canada for incorpor' 
 ation under the title of the "Canada Bank," but their bill was rejected. 
 Currency conditions in the Colony were improved during the years 
 of the American War of 1812 by the use of legal tender Army Bills, 
 
 [7] 
 
mdation of issued by the British Government; but the subsequent contraction and, 
 
 the Ban\ eventually, the complete redemption of the Army Bill circulation in' 
 
 flicfted greater confusion and inconvenience upon the growing trade of 
 
 the Colony than had prevailed before the war. The need of a bank 
 
 again became urgent. 
 
 It was not, however, until the 23rd June, 1817, that nine merchants 
 of Montreal, namely, John Richardson, of Forsyth, Richardson 6? Com' 
 pany, George Garden, of Maitland, Garden 6P Auldjo, George Moffatt, 
 representing Gerrard, Gillespie 6? Company,Thomas A.Tumer, Robert 
 Armour, James Leslie, Horatio Gates, John C. Bush, and Austin Cuvil" 
 lier, signed Articles of Association for the formation of the "Montreal 
 Bank." 
 
 The Articles provided that the Association should continue until the 
 1st January, 1838, and no longer, and that the capital stock of the Com' 
 pany should not exceed £250,000 currency or $1,000,000, the Canadian 
 £ then being equivalent in value to four dollars. The capital stock was 
 divided into 5 ,000 shares of £ 50 each, Directors w^ere to be elected when 
 £ 5,000 had been paid in, and were to commence the business of the Bank 
 but not to issue any bank bills or bank notes, or discount any bill or 
 note, until £25,000 had been paid in on account of stock subscriptions. 
 
 The general provisions of the Articles, which became the model for 
 later banking associations, may be more appropriately outlined when 
 we come to describe the Bank's first charter, in which they were sub- 
 stantially incorporated. 
 
 The first minute book of the Bank, or "Resolve Book," as it was 
 called, records that the first meeting of the stockholders was held on 
 the 7th August, 1 8 17, "pursuant to a public advertisement of the Com' 
 mittee acting heretofore, that £5,000 had actually been paid in to them 
 in gold and sHver." At the meeting the following directors were elected: 
 John Gray, who became the first President, Thomas A. Turner, the first 
 Vice-President, John Forsyth, George Garden, George Moffatt, Horatio 
 Gates, Frederick W. Ermatinger, John McTavish, Austin Cuvillier, 
 James Leslie, Hiram Nichols, George Piatt, and Zabdill Thayer. 
 
 A brief account of some of these gentlemen is given in the Reverend 
 Dr. Campbell's ^'History of St. Gabriel Church," from which we learn 
 that John Gray, an Englishman by birth, was a North-West trader, 
 and lived outside the city, at St. Catherine's, now Outremont. 
 
 Thomas A. Turner was a member of one of the foremost firms of 
 general merchants. He became President of the Bank of Canada in 1 820. 
 
 The Honourable John Forsyth was bom in Aberdeen, Scotland, and 
 came to Canada at an early age. He was a partner in the firm of Forsyth, 
 
 [8] 
 
JOHN G RAV, ESQ. 
 PRESIDENT ISIT- IS20 
 
 SAMUEL OeRRARO,ESQ- 
 PRESIOENT l820-ieZS 
 
 HON. HORATIO GATES 
 PRESIDENT teZ.6 
 
 HON. JOHN MOL.SON 
 PRESIDENT 1626-183^ 
 

 \h**m^.^. 
 
Richardson and Company, the most prominent commercial house in Foundation 
 Montreal at the time. He was appointed a Legislative Councillor in the Ban\ 
 1826. Having acquired a competency, he returned to Scotland, where 
 he spent the evening of his days in weU'camed repose. 
 
 George Garden, also a leading merchant, became Vice-President of 
 the Bank in 1820. He was one of the incorporators of the Montreal 
 General Hospital. 
 
 The Honourable Horatio Gates, another successful merchant and a 
 Legislative Councillor, became President of the Bank in 1826. 
 
 The direAors and chief officers having been elected, the organi^iation 
 of the Bank for the conduct of business was carried on with commend" 
 able diligence. A house, occupied by Robert Armour, in St. Paul Street, 
 between St. Nicholas and St. Francois Xavier Streets, was selected for 
 the bank premises and rented until the ist May of the following year for 
 £ 1 50, on condition that the assignees of the Armour Estate "do put the 
 vaiilt into a state of security." 
 
 St. Paul Street, now almost entirely given over to warehouses, was 
 then the centre of the commercial and social life of Montreal, the busi' 
 ness men residing over their stores. Along the northerly side of St. James 
 Street, which consisted chiefly of residences, ran the outer fortification 
 wall of the city. A small stream flowed through the strip of land which 
 now forms Craig Street, and beyond the stream stretched the forms and 
 gardenswhich fedtheinhabitants. St. Paul Street enjoyed the distinction 
 of being the only street which was lighted at night. Local history relates 
 that two years earlier, through the exertions of SamuelDawson, twenty 
 two pubHc lamps had been erected there; one of the grounds for the in^ 
 stallation being "that ladies might be induced to visit their friends more 
 frequently." 
 
 The first employees of the Bank were appointed on the 23rd August. 
 They were Robert Griffin, cashier; Henry Dupuy, accountant; Henry 
 B. Stone, paying teller; and James Jackson, second teller. The cashier's 
 salary was fixed at £300 per annum, with the use of the Bank house in 
 St. Paul Street; the accountant's salary at £250; the first teller's at £300; 
 and the second teller's at £250. A discount clerk, a second bookkeeper, 
 and a porter were added shortly afterwards, and it was with this staff of 
 seven that the Bank began business. 
 
 In the meantime plates had to be obtained for printing the Bank bills. 
 They were ordered in Hartford, Conn., through the Phoenix Bank of 
 that city, and an officer of the Bank, Mr. Dupuy, was sent there in Sep' 
 tember to bring up "all the plates," and also a quantity of bank paper. A 
 rolling press was also secured, so that the printing could be done by the 
 
 [II] 
 
ndation of Bank on its own premises. These plates are now preserved in the Bank's 
 the Ban\ museuni, together with some of the first bills printed. To lend it local 
 colour and distinction, the one-dollar bill bore upon its face a picture of 
 one of the most modem buildiags in the city — ^the prison. 
 
 The appearance of the first issues of bills does not seem to have satis- 
 fied the directors, for at their first meeting after the arrival of the plates 
 it was decided to write to a Mr. Richardson, of London, to procure a 
 set of plates there, and to have a certain amount of bills struck ofi^ on 
 the best bank paper, with "Montreal Bank" as a water-mark, " done as 
 the water-mark of the Bank of England notes." Instrucftions were added 
 that "these must be shipped for Montreal by the first vessel next spring, 
 together with a rolling press of the best construdtion." 
 
 While the directors were thus engaged in preparation for the open' 
 ing of the bank, they were not averse from doing business with the 
 moneys already in hand. The first investment of any of the Bank's funds 
 appears to have been made on the 23rd September, 1817, when it was 
 resolved "that a certain sum of money, not exceeding £20,000 sterling, 
 should be invested in Government exchange, and that Mr. Henry B. 
 Stone should be sent to Quebec to secure the same, and to take with 
 him £2,000 sterling as a deposit for them should he effed: the purpose of 
 his journey."" This was followed on the 3rd October by a resolution that 
 "exchange on London should be disposed of to the amount of £10,000 
 at 4 per cent, premium" — with the shrewd addition that, "if that sum 
 shall go off readily, then to raise the exchange to 5 per cent." The direc- 
 tors adso sold exchange to the extent of £13,000 to Simon E. Green, of 
 Boston, at a premium of 2 per cent., but at the next meeting decided that 
 Mr. Green should have no more exchange except at a premium of 3 per 
 cent. From these transactions it may be inferred that the direcftors were 
 feeling their way cautiously. 
 
 The enaAment of by-laws also engaged the directors' attention. They 
 provided, among other things, that the directors should assemble at ten 
 o'clock on Tuesday and Friday mornings for the purpose of discount' 
 ing. Discounts were not to be made for a longer period than sixty days 
 "and the usual grace." It was also enadted that all the dired:ors were 
 to take an oath of inviolable secrecy regarding the business of the Bank. 
 It was further enacted that, "if the teller pay any cheques, and the 
 persons drawing not having the amount to their credit, the teller be 
 charged with the amount overdrawn, provided the same was without 
 appHcation to the bookkeeper, but if^ the bookkeeper shall have de" 
 cleured the cheque to be good he shall be responsible for the amount 
 overdrawn." 
 
 [1^1 
 
A glimpse of the conditions prevailing at the time is afforded by a Foundation of 
 minute, " that the cashier be granted £ 30 currency to furnish the Bank the Ban\ 
 with firewood during the winter," and also by a bylaw, declaring that: 
 "It shall be the duty of the porter to keep the Bank House and appur" 
 tenances clean and in good order. He shall remain constantly at the 
 Bank while it may be open, either for public or private business. He 
 shall make the fires and light the lamps at the times he roay be directed, 
 and before closing the Bank at night he shall examine every part of 
 the building and appurtenances, and when the Bank is shut he shall 
 carry the keys to the President or Vice-President, and have the same 
 at the Bank timely in the morning if required." 
 
 By the end of the third week of Od:ober the whole of the Com' 
 pany's capital stock had been subscribed, and the prescribed instalment 
 paid in; the work of organi23.tion was proceeding satisfe.d:orily, and the 
 directors considered themselves in a position, on the 23rd of tint month, 
 to order an advertisement to be inserted in the local papers: "The Bank 
 will commence operations on Monday, November 3rd,next; bankhours, 
 10 to 3; discount days, Tuesday and Friday; bills and notes for discount 
 to be delivered to the cashier on the previous day." 
 
 Promptly at the time appointed the modest little establishment in St. 
 Paul Street opened its doors, and the Bank was started which was des' 
 tined to play a most conspicuous and beneficent part in the development 
 of Canada's resources. 
 
 Four days later, the directors decided to request the Governor of 
 the city to place a sentinel at the Bank. Montreal was garrisoned by 
 British troops, and had no police force until 18 18, when provision was 
 made "for the ereAion of street lamps, and also for night watches, con' 
 sisting of twentyfour in number, their duties being to trim and attend 
 the kimps, and also to ad: as police guardians." 
 
 [ij] 
 
COMMENCING BUSINESS 
 i8i7''i820 
 
 HE majority of the first directorate were Scotchmen or 
 bore Scotch names, and it was to be expected that in the 
 condud: of the Bank they should follow the example of 
 the institutions in their native land, and should seek in 
 the colony "to extend and to perpetuate for the former 
 and merchant the benefits and stimulus of a system the 
 worth of which Scotland's prosperity could abundantly prove." One 
 of the outstanding features of the system, and now for many years also 
 of English banking, was the maintenance of numerous branches by a 
 few banks of large capital, and the Montreal Bank, in adopting that fea' 
 ture, introduced one of the elements of the remarkable elasticity for 
 which the Canadian banking system has received so much praise. The 
 first agencies were opened at Quebec, Kingston, and York, and it is in' 
 teresting to speculate whether the energy of the direcftors in commenc 
 ing business so speedily in those places was quickened more by their 
 being the principal centres of trade outside of Montreal than by the fiidt 
 that the merchants of those cities were already seeking to establish 
 banks of their own. 
 
 Two weeks after the opening of the Bank the directors appointed an 
 agent at Quebec. Daniel Sutherland was the agent, and he was allowed 
 an eighth per cent, on all receipts and an eighth per cent, on all payments 
 made on account of the Bank, to cover all expenses of the establish' 
 ment. A supply of Army Bills was sent him to meet such drafts as might 
 be drawn. He was required to give bond, and was instrucfted by letter 
 that "integrity, care and diligence will be required of him, and it will 
 also be considered that he will be responsible for the person he may at 
 any time entrust with the property committed to his charge, but it is 
 not expedted that he can be responsible for accidents arising from fire 
 and robbery; and that he shall be authori2;ed to ftimish himself with a 
 large wrought'iron chest at the expense of the Bank." 
 
 In the following June the agency became an "Office of Discount and 
 Deposit," and a month later agents were appointed at Kingston and York. 
 Frequent references in the early minutes to the despatch of money 
 
 [14] 
 
to Quebec "at the first safe opportunity," are eloquent of the limited Commencing 
 facilities for travel. The journey between Montreal and Quebec could. Business 
 perhaps, be undertaken with more than average speed and comfort 
 during the season of navigation, for the traveller might elect to make it 
 upon one of the steamboats which the enterprise of the most famous of 
 Montreal's merchants, the Honourable John Molson, had placed upon 
 the St. Lawrence as early as 1809. The journey by land, in one of two 
 characteristic habitant vehicles — the caieche in summer, the cariole in 
 winter — occupied three days, and was, in Mr. Molson's own words, 
 "fatiguing from the nature of the vehicle and inconvenient both for lodg' 
 ing and nourishment." 
 
 The Honourable John Molson, one of the historic pioneers in steam^ 
 boat navigation, came of a good old Lincolnshire family, and emigrated 
 to Canada when only eighteen years of age. Deciding to erect a brew 
 ery, he disposed of his ancestral estate in order to raise the necessary 
 funds; and as no barley was then grown in Canada, he imported seed 
 from England which he gave to the farmers, undertaking to purchase 
 all that tihey could raise and deliver at his works. He became a director 
 of the Bank in 1824, and, in 1826, its President. Appointed to a seat in 
 the Legislative Council and afterwards to the Executive Council, he was 
 active in all matters of public interest, particularly the General Hos' 
 pital and the House of Refuge; and died, in 1837, at the age of seventy 
 one years. He was the founder of the Molson family, which has been 
 distinguished in Montreal from his day to the present time for its civic 
 spirit and its benefactions to education and charity. 
 
 Westward to Kingston and York, travel was yet more arduous and 
 risky. The first stage between Montreal and Kingston was started in 
 1 8 16, and one between Kingston and York in the following year. The 
 stage coaches or covered sleighs left Samuel Hedge's, in St. Paul Street, 
 Montreal, and Robert Walker s Hotel, Kingston, every Monday and 
 Thursday, and arrived every Wednesday and Saturday. The stage be 
 tween Kingston and York left Kingston every Monday morning and 
 York every Thursday morning. 
 
 York was the name of the settlement which afterwards became the 
 city of Toronto. Its small community was composed mostly of farmers 
 and men who traded with the Indians. The surrounding country was 
 largely unbroken forest, with some settlers scattered here and there. 
 Few of them could have foreseen the wonderful development which 
 now characterizes that region, criss-crossed as it is with railways, tele- 
 graphs and highways, covered with prosperous fiirms, and dotted with 
 numerous centres of manufecturing industry. 
 
 [15] 
 
Commencing That the directors' caution in the transportation of money in these 
 Business regions was well founded was soon to be made evident. The minutes 
 record that in July, 1819, a Mr. Ridout of the Bank's staff had his trunk 
 broken open at Kingston, and that from it was taken a packet containing 
 1,600 fivc'dollar bills, which were being sent in that gentleman's charge 
 to Mr. Allan at York. A reward of £250 was offered for information 
 leading to the conviction of the robber. Two years later, a number of 
 the bills were found in the possession of a certain doctor, whom the 
 directors resolved to prosecute for theft. How much, if any, of the 
 money was recovered, and whether the accused was convicted or not, 
 the records do not say. 
 
 The maintenance of branch banks or agencies was attended by a 
 variety of difficulties. Almost at the outset the Quebec branch had to 
 face the competition of the Quebec Bank, organised in 1818 by mer^ 
 chants of that city, and in 18 19 its existence was imperilled by injurious 
 rumours regarding the stability of the parent Bank. The directors in 
 Montreal had agreed to accept on deposit for one year at 6 per cent, 
 interest the paid-up capital of a Montreal company which had been 
 formed to carry on the business of fire insurance. The transaction, be- 
 coming known to cautious merchants of Quebec, gave rise to gossip of 
 a detrimental character, which brought letters of anxious enquiry to the 
 Head Office from Mr. Sutherland, the cashier of the Quebec branch. 
 He was informed that "the office at Quebec can reckon upon a fixed 
 capital of £50,000 and as many notes as they can keep in circulation, 
 and that the Bank having taken the money belonging to the Montreal 
 Fire Insurance Company at interest was not from a want of it, but to 
 encourage an infant institution in which many of our Bank stocldiolders 
 are interested." 
 
 The position of the branch, however, became increasingly unsatis- 
 factory, and, in July of the same year, it \vas decided to close it at the end 
 of the year. Mr. Sutherland was instructed not to lend anymore money 
 and not to draw on the cashier for any further sums; while no notes 
 were to be renewed for more than sixty days, and then only upon con- 
 dition of 20 per cent, of their value being paid. 
 
 The course of events, nevertheless, took a more hopeful turn, for, in 
 September, Mr. Sutherland was informed that although the Board of 
 Directors still adhered to their resolution to close the office, they were 
 disposed to discount good Quebec paper as far as their means would 
 justify. This was followed by a decision to discontinue the charge of 
 J4 per cent, on bills sent to Quebec for customers of the Bank. Mean' 
 while there had been strong representations from Quebec, where the 
 
 [16] 
 
HON.PETEIR McGILU 
 PRESIDENT 1834-- ISeO 
 
 EDWIN H.KING, ESQ. 
 
 GENERAL MANAGER 1863-1869 
 
 PRESIDENT 1869-1873 
 
 T. B.ANDERSON, E SQ . 
 PRESIDENT IS60-ie69 
 
 DAVID TORRANCE, ESQ. 
 
 PRESIDENT lera-IST'S 
 
advantages of banking competition had become apparent, in favor of Commencing 
 continuing the Bank's agency, and, in November of the same year, it Business 
 was resolved to rescind the decision to aboHsh the office, and to provide 
 for its continuance a capital of £50,000 and bank notes made payable 
 in Quebec for £ 30,000, " or more if they can be kept in circulation." 
 
 Tne variety of money then in circulation was the cause of difficulties 
 of quite another character and of some historic interest. The Bank was 
 not without competition in its own city, for, a year after its own for' 
 mation, another bank had been established in Montreal under the name 
 of the Bank of Canada. A clash occurred between the two banks in Janu' 
 ary, 1820. The Bank of Canada announced that it would pay cheques 
 only in half-crowns, whereupon the Bank ofMontreal decided to receive 
 no more cheques of the Bank of Canada and neither to pay out nor re 
 ceive French half-crown pieces. This decision was modified some weeks 
 later by deciding to take the coins, "provided the impression be not 
 obliterated, and payment is made through a notary.*" 
 
 From the first it was recognizied that the rental of Bank premises was 
 to be a temporary expedient, and within a few weeks of commencing 
 business the directors acquired two lots of land in St. James Street for a 
 Bank building. The land was bought from James McDouaU for £2,000, 
 and, after long occupancy by the Bank, became the site of the General 
 Post Office in Montreal, which immediately adjoins, on the west, the 
 present Head Office of the Bank. 
 
 Early in 18 18 the plans were approved; in October it was resolved 
 to import from England, "next spring," ornaments for the new build' 
 ing; and the structure was ready for occupancy in 18 19. 
 
 The building, which was the Bank's Head Office for thirty years, 
 cost £8,750, a very considerable sum for a building in those days. Sub' 
 stantial and severely plain, though dignified, it was described in a local 
 history of the time as "a large and elegant building of cut stone, and 
 ornamented in four compartments with emblematical devices of Agri' 
 culture. Manufactures, Arts and Commerce. It has a portico of the 
 Doric order." 
 
 The "devices" were panels in bas-relief inserted over the windows 
 in the facade, and they now adorn the interior of the Montreal General 
 Post Office. They are supposed to have been sculptured from designs 
 by the celebrated English sculptor, John Flaxman, who executed the 
 monuments to Nelson, Howe, and Reynolds in St. Paul's Cathedral, 
 London. 
 
 Through troubles and trials, which, after all, were only incidental to 
 the establishment of a bank in a sparsely settled and backward country, 
 
 [19} 
 
Commencing the officers and direcftorate were shrewd and diligent, and success at' 
 Business tended their efforts from the beginning. They felt themselves so firmly 
 on their feet at the end of the first year that they proposed to the Gover^ 
 nor of Canada, the Duke of Richmond, who controlled the British 
 moneys imported into the Colony for Govermental purposes, "that the 
 Bank be given the right of supplying the Government in this country 
 with such moneys as may be wanted by the different departments in 
 Upper and Lower Canada." The negotiations terminated favourably 
 and inaugurated the connection between the Bank and the Govern' 
 ment, first of the two provinces and later of the Dominion, which, con' 
 tinuing to this day, "has brought honour and profit to the Bank and has 
 been of the greatest value and service to the Canadian nation." 
 
 Nor did the shareholders have to wait long for a tangible reward of 
 their enterprise. Their business was sufficient, both in volume and pro' 
 fits, to warrant the directors, at the close of the first half-year, in grant' 
 ing a bonus of £75 to the cashier, together with an increase of salary 
 to £500, and in declaring, at the end of the year's operations, a dividend 
 of 8 per cent, upon the capital paid in. From that time to the present, 
 with the exception of the years 1827 and 1828, the Bank has never 
 failed to pay dividends to its stockholders. Concurrently with the 
 declaration of a dividend, the directors displayed far-sighted financial 
 wisdom in placing a balance of profits in a reserve fund. They thus 
 started the Bank's Rest, which, with the accumulations of a century, 
 amounts now to the sum of $16,000,000. Constituting so much addi- 
 tional capital whereon no dividends have to be paid, but possessing the 
 same earning power as acftual capital, it has stood the institution in 
 good stead during times of depression, and furnishes the best of all pro- 
 ted;ion against financial impairment. 
 
 1^1 
 
THE HRST CHARTER 
 
 1821^1830 
 
 HERE is little room for doubt that the Bank, operating 
 under the Articles of 18 17, was technically not fully le' 
 galized to do business, inasmuch as it had not received 
 the sanction either of an Act of the British Parliament 
 or of a Royal Charter. The Govemor^'Chief of the 
 Colony, the Earl of Dalhousie, was so advised, but we 
 learn that the Bank was left undisturbed because he believed that re' 
 striction would result in "more inconvenience than good." The promo' 
 ters of the Bank could not have been ignorant of this cloud upon its 
 status, for as early as October, 1817, while its organization was still pro' 
 ceeding, the stockholders, in general meeting, had decided to apply to 
 the Legislature for an act of incorporation. Their bill was passed by the 
 Legislature at its next session, but being reserved for the signification 
 of the Royal pleasure, failed to secure assent because it appeared to His 
 Majesty's advisers to be defective in certain matters, principally concern' 
 ing the protection of the stockholders. The Privy Council, however, 
 reported that if these defects were remedied, the charter could be granted 
 without further reference to the Home authorities. The stockholders, 
 therefore, again presented a bill, and, in 182 1, the Legislature granted a 
 charter which received the Royal assent on the i8th May, 1822. 
 
 It was held by Mr. Breckenridge that the charter, which followed 
 closely the liaes of the Articles of Association, was modelled upon the 
 provisions for a National Bank prepared by Alexander Hamilton, the 
 Secretary of the Treasuryin Washington's first cabinet. Howfar Hamil" 
 ton had himself drawn upon the precedents afforded by the constitutions 
 of Scotch and English banks is a question beyond the scope of these 
 pages. The preamble of the charter, the first to be given to a bank in 
 Lower Canada, recited that the establishment of a bank at Montreal, by 
 legislative authority, would be conducive to the advancement of agri' 
 cidture and commerce, and promote the prosperity of the Province. 
 One hundred and forty 'four persons were given corporate existence 
 until the ist June, 183 1, by the name of "The President, Directors and 
 Company of the Bank of Montreal,'' with power to purchase real estate 
 
The First for the convenient conduct and business of the Bank, and for no other 
 Charter purpose, not exceeding the yearly value of £i,ooo. The capital stock 
 was £250,000, to be paid in by instalments of not more than 10 per cent, 
 within nine years from the passing of the Act. The directors were to be 
 thirteen in number, chosen annually, and two of them were to be elected 
 president and vice-president. Votes of the stockholders were to be taken 
 in certain proportions, namely, for one or two shares, one vote ; for every 
 two shares above two and not exceeding ten, one vote; for every four 
 shares above ten and not exceeding thirty, one vote; for every six shares 
 above thirty and not exceeding sixty, one vote; for every eight shares 
 above sixty and not exceeding one hundred, one vote; making twenty 
 votes for one hundred shares, and no stockholder was entitled to more 
 than twenty votes. Every cashier and clerk was to give a satisfadtory 
 bond with two or more sureties. The stockholders were not to be liable 
 in their private capacities for the debts of the Bank, but the directors 
 were made personally liable for the excess if the total debts of the Bank 
 at any time exceeded treble the amount of the capital stock paid in (over 
 and above a sum equal to the amount of money on deposit with the 
 Bank for safe^keeping) . Other than this provision there was no limit to 
 the issue of notes, which were to be paid in gold or silver currency. 
 Loans to directors or upon the security of the Bank's stock were neither 
 prohibited nor restricted, but the Bank was forbidden to raise loans, to 
 increase its capital, or, upon penalty of forfeiture of its charter, to lend 
 money to any foreign state. It was also prohibited from lending money 
 on the security of real estate, but it might take mortgages by way of 
 additional security for debts contracted to it in the ordinary course of 
 its business. The dealings of the Bank were to be confined to bills of ex' 
 change, bullion, discoimt of notes of hand or promissory notes, or the 
 sale of stock pledged and not redeemed; and, it was not allowed to 
 charge more than six per cent, on loans or discounts. The publication 
 of statements of the Bank's condition was not required, but the provin^ 
 dal government could call for statements under oath of the amount of 
 its capital stock, debts due to the Bank, notes in circulation, deposits, 
 and cash in hand. The severity of the penal laws in force in the first 
 three decades of the nineteenth century is illustrated by clauses which 
 declaredthat an employee convicted of theft or embe^lement from the 
 Bank, or any person convicted of counterfeiting its bills, notes, or un' 
 dertakings, should suffer death as a felon, without benefit of clergy. A 
 commentator has remarked that these laws were evidently framed not 
 only to exact from transgressors the extreme penalty in this world, but 
 also to deprive them of their chance of forgiveness in the next. Happily 
 
LORD MOUNT STEPHEN 
 
 vice-pR£siDCNT lera-isre 
 
 PRCSIOCNT IS7a-ISBI 
 
 LORD STRATHCONA « MOUNT ROVAL 
 
 VICE-PRESIDENT t882->SB7 
 
 PRESIDENT 1887-1905 
 
 HON. PRESIDENT I905-I9I4 
 
 C. F. SM ITHE RS, ESQ. 
 
 GENERAL MANAGER 1870-1801 
 PRESIDENT iaei-IS87 
 
 HON. SIR GEORGE DRUMMOND, K.C.M-G- 
 
 VICE-PRESIDENT 1687-1805 
 PRESIDENT I0OS-I9IO 
 
there is no instance in the records of the Bank of this punishment ever The First 
 having been enforced. Charter 
 
 Although the shareholders and officers of the Bank were relieved by 
 the grant of the charter from all anxiety concerning the legality of their 
 undertaking, the life of that charter covered a period which was full of 
 difficulties. The Province of Lower Canada was in a backward state. 
 "In commercial adivity and general economic development it was 
 much inferior to the state of New York on its southwestern border, 
 and comparison with Ohio in the later years of the decade (iSaciSso) 
 would have been distinctly unfavourable. It suffered from commercial 
 restrictions; from the simplicity . . . and fixed habits of the French in' 
 habitants; from its severe climate; and from the checks imposed by an 
 absorbing political strife." Deep-rooted apathy prevented me St. law 
 rence from receiving the improvements which the enterprise and energy 
 of the Americans were applying to the water communications of New 
 York. And while the Legislative Assembly was concerned in personal 
 wranglings, the interests of trade, agriculture, and education were 
 wholly neglecfted. There was no law for the registry of lands or mort' 
 gages and no insolvent debtors acft. 
 
 The province was not alone torn by internal dissensions, but was en' 
 gaged in a quarrel with the Province of Upper Canada. All goods from 
 Great Britain and Europe entered the Upper Province by the St. Law 
 rence, and that province claimed a share of the duties levied in Lower 
 Canada. An agreement defining the shares of the two provinces having 
 terminated in 1819, negotiations for a new arrangement ended in failure. 
 In these circumstances the Upper Canadians demanded that the Im' 
 perial Parliament should assume the entire and exclusive control of all 
 imports and exports at Quebec. An attempt to solve the problem by 
 the merger of the two Canadas was fiercely resented by the French' 
 Canadians, while it was not generally desired in Upper Canada. A bill 
 with the object of effecting the union was introduced in 1822 in the 
 House of Commons, but, meeting with strong opposition, was with' 
 drawn. The clauses, however, concerning the trade relations of the two 
 Canadas were passed as a separate act, known as the Canada Trade AcS;, 
 1822, and the controversy concerning the duties was abated, though 
 by no means concluded. 
 
 The maintenance of a Bank of Montreal branch in Quebec was, in 
 the early years of the decade, regarded by the local bank as an encroach' 
 ment on its privileges, and the greater command which the Montreal 
 bank enjoyed as the custodian of the government account gave it 
 competitive advantages whicJi resulted in repeated manifestations of 
 
 [25} 
 
The First jealousy and mistrust. It was the custom of the Bank to purchase bills 
 Charter ^^ exchange in considerable amounts from the Commissary General, 
 and the charge that when the Bank was buying foreign bills it ceased 
 to discount, was one of the several complaints, which, in 1823 and 1824, 
 were the subjed: of investigation by the Legislature. Again in 1829, 
 merchants and others attacked the mother bank on the grounds that it 
 had not adted in the public interest; that it had no right to establish 
 a branch at Quebec; that it refused to redeem its own notes at that city 
 when they were not stamped "payable at Quebec;" that the Quebec 
 office bought up at a discount notes issued from Montreal; and that it 
 was the practice of the Bank to loan chiefly on paper arising from com' 
 mercial transactions. 
 
 The Legislative Committee which investigated these serious charges 
 acquitted the Bank of the monstrous anomaly of trading in its own 
 notes. In respedt of the other charges they found: that the office at 
 Quebec had been highly advantageous to commercial and agricultural 
 interests, particularly to those of the city and distrid: of Quebec, hav 
 ing caused a desirable competition, and that the affairs of the Bank had 
 been conducted on fair and honourable principles; that the Bank's 
 charter did not prohibit the establishment of agencies; that to redeem 
 notes at branches was not the practice of the Bank of England, the Bank 
 of Scotland, or the Bank of the United States; that the Quebec office 
 had not refused to redeem its own issues; that the Bank had not traded 
 in deteriorated coin, but had discountenanced the practice at consider^ 
 able expense; and that the Bank had taken every prudent measure to 
 stop the counterfeiting of its notes. The last item had reference to the 
 counterfeiting of the Bank's ten^dollar bills, which had been met by the 
 withdrawal from circulation of all bills of that denomination and by a 
 new issue from another plate. 
 
 Erroneous ideas upon the duties and powers of banks were not 
 confined to the inhabitants of Quebec. The merchants of Montreal 
 petitioned the Legislature, in 1830, that if the charter of the Bank of 
 Montreal were renewed, "care should be taken to proted: the interest 
 of the pubHc by restricting the said bank from dealing in bills of ex' 
 change, and from issuing bills in small sums." The chartered bank was, 
 of course, both a powerful and unwelcome competitor of the old pri' 
 vate dealers in exchange. As for the second point, all the banks con' 
 tinued until 1870 to issue circulating notes for sums as low as one dollar 
 or five shillings currency. 
 
 During these years of political unrest and popular suspicion the direc 
 tors had to steer the Bank through shoals of quite a different charader. 
 
 [16] 
 
The colony was extremely dependent upon the mother country, and Yhe First 
 when crises or commercial disturbances occurred in England, Canada Charter 
 suffered sorely. A financial collapse in England in 1825 caused losses on 
 merchants' exchange, and obliged the Bank, notwithstanding the exer- 
 cise of the greatest caution, to pass its dividends in 1827 and 1828. The 
 adoption of a severely conservative policy, and the accumulation of a 
 reserve amounting to £100,000, enabled the directors to declare a small 
 dividend in 1829, but in the following year the dividend was drawn 
 from the reserve fund. 
 
 Notwithstanding financial depression and barren political strife, the 
 economic development of the country was progressing steadily if slowly. 
 More than 20,000 immigrants are said to have settled in Lower Canada 
 between 1819 and 1825. In 1821 a canal was begun between Montreal 
 and Lachine, in order to avoid the Lachine Rapids, and was completed 
 in 1825 at a cost of £110,000. To this work the Bank of Montreal gave 
 important financial assistance. 
 
 {.^1 
 
POLITICAL AGITATION 6? THE TWO CANADAS 
 
 i830''i840 
 
 N 1830 the charter of the Bank was continued by the 
 Legislature to the ist June, 1837, and amended in some 
 important respects. So enlightening had been the inves' 
 tigations of 1823 and 1829, that the amended charter 
 provided that, "in order to preserve a competition in 
 banking, the charter should determine in ten months 
 from the expiry of the charter of the Quebec Bank unless that were 
 likewise continued or some other bank incorporated in Lower Canada." 
 The Bank of Montreal was the largest dealer in exchange in the two 
 Canadas, employing Messrs. Prime, Ward 6? Sands as its agents for 
 operations in the New York market, which was frequently more favour^ 
 able for transactions in sterling exchange than that of Lower Canada. 
 It also remitted bills direct to England against its own imports of specie, 
 colonial imports of goods, or adverse balances. The plan of using New 
 York as a market for sterling bills, a source for the supply of specie, and 
 a centre for the employment at call of portions of the Bank's funds, has 
 since been followed by the larger Canadian banks. The wisdom of keep' 
 ing large secondary reserves both in London and New York has in times 
 of stress been strikingly demonstrated. 
 
 The Bank discounted on two days in the week, and dijferences of 
 opinion were decided by ballot. Any advance of over £10,000, how 
 ever, required the unanimous consent of the Board. 
 
 Through the immigration of 1826 and 1827, as well as by expendi- 
 tures on public works and the stimulus to trade and industry which 
 they afforded, the prosperty of the province was appreciably enhanced. 
 The business of the Bank became more voluminous and more profitable, 
 and the payment of substantial dividends was resumed. The dividends 
 rose to 12 per cent, per annum in 1832, cind were 14 per cent, in each of 
 the three following years. The whole country shared in an upward 
 movement, which covered the North American continent. In Mont' 
 real this prosperity and expansion was manifest in the vigour with 
 which new enterprises were undertaken, as well as in notable improve- 
 ments in the buildings and streets of the city and in the development 
 
R. B.ANGUS, ESQ. 
 
 GENERAu MANAGER 1869-1679 
 
 PRESIDENT I9IO-I9I3 
 
 SIR VINCENT MEREPITH, BART. 
 
 QENERAI. MANAGER 1911 - 1913 
 
 VICE-PRESIDENT 1912-1913 
 
 PRESIDENT SINCE 1913 
 
of the harbour. The tide of progress was interrupted, but not stemmed, 
 by a dreadful visitation of -Asiatic cholera in the summer of 1 8 3 2, which 
 resulted in nearly two thousand deaths, and by a repetition of the same 
 pestilence two years later, when some hundreds of the inhabitants fell 
 victims to its ravages. 
 
 The province continued to be the amphitheatre of bitter political 
 strivings, and the ascendency of violent demagogues made the political 
 situation dangerous. The loss of three lives in an election riot at Mont^ 
 real in 1832 added fuel to the flames, and the general eledion of 1834 
 for the provincial parliament was contested on racial lines with the 
 bitterest animosity. The Bank of Montreal was the objed: of an especi^ 
 ally vicious attack. The following anonymous warning was printed and 
 posted in a public place: 
 
 "AVIS AUX CAHADIEHS!" 
 
 "Par les papier s publics, vous aurez vu que la confiance du public de 
 iluebec dans les Banques, et surtout celle de Montreal a cessee, que dans 
 peu de jours, £12,000 en ont ete retires, et que la Banque principale d 
 Montreal a ete forcee cL deux reprises d' envoy er de V argent dur a sa branche 
 de 2luebec. Ceux de vous qui ont des Billets de cette Banque entre leurs 
 mains, et qui ne veulent pas s'exposer au risque d'en perdre la valeur en 
 entier ou en partie, feront bien de les echanger le plutot possible contre de 
 V argent dur a la Banque de Montreal, Kue St. Jacques, ^e Vexemple 
 des EtdtS''Unis soit un avis aux Canadiens. La plusieurs centaines de 
 banques ont failli, et tout ceux qui avaient eu de la confiance en ces insti" 
 tutions ennemies de la liberte du peuple, ont fait des pertes considerables 
 sur leurs chijfons de papier, quon pretendait etre equivalens a V argent 
 dur. Soyez done sur vos gardes, Canadiens, ne prenez plus de billets, et 
 defaites^ous au plutot possible de ceux que vous avez ! 
 
 7<iovembre 8, 1834." 
 t translation] 
 
 "NOTICE TO CANADIANS'' 
 
 "From the public press you will have learned that the confidence of 
 the public of Quebec in the Banks, and above all those of Montreal, 
 has ceased, that within a few days £12,000 has been withdrawn from 
 them, and that the principal Bank at Montreal has been forced on two 
 occasions to send hard coin to its branch at Quebec. Those of you who 
 have bills of this bank in your possession, and who do not wish to be 
 exposed to the risk of losing their value, wholly or in part, would do 
 
 Political 
 Agitation 
 and the 
 Two Canad 
 
 I Hi 
 
Political 
 
 Agitation 
 
 and the 
 
 wo Canadas 
 
 well to exchange them as soon as possible, for hard coin at the Bank of 
 Montreal, St. James Street. Let the example of the United States be a 
 warning to Canadians. Several hundred banks there have failed, and 
 all those who had confidence in these institutions, which are enemies 
 of the liberty of the people, have sustained considerable losses on their 
 rags of paper, which they pretend to be equivalent to hard coin. Be on 
 your guard, Canadians! Take no more bills, and rid yourself as soon as 
 
 possible of those that you now have! 
 
 November 8, 1834." 
 
 On the margin of the copy of this notice, which is preserved in the 
 Bank's museum, there is written: 
 
 "Posted at the County Church door, and read, too, by order Papi' 
 neau 6? Co., December, 1834, and produced very little effect." 
 
 Matters wentswiftly from bad to worse. The severance of British con' 
 nedion was openly advocated. Nightly parades took place in Montreal 
 by organized bands, and loyal parishes were severely boycotted. Large 
 bodies were drilling every Sunday without interference by the civil 
 authorities. Trial by jury broke down, so that offenders were sure of 
 immunity. The Bank transferred its specie to Quebec and deposited it 
 for safekeeping in the Citadel. Finally rebellion, under the leadership 
 of Papineau, reared its head. The insurgents were, however, speedily 
 overpowered, and their leaders either fled or were captured. The first 
 to raise a volunteer force at the outbreak was the Honourable Peter 
 McGill, who had been appointed to the presidency of the Bank in 1834. 
 He had served in the Provincial Legislative Assembly since 1832, and 
 subsequently became a member of the Legislative Council of the United 
 Canadas and a member of the Executive Council under Lord Elgin. 
 
 While the political agitation for "responsible government" was com' 
 ing to a head, the upward movement of prosperity and expansion had 
 reached its maximum, and was already gathering momentum on its down' 
 ward swing. A wet summer in 183 5 was followed by a bad harvest in 
 1836. Upper Canada was afflicted by a banking mania, and its banks 
 were makmg generous loans without observing the principle that credit 
 should be based either on an exchange of commodities or an increase of 
 commodities. In 1837 the financial agents of that province in London 
 stopped payment. But the worst blow came from the south, when, in 
 May of that year, the American banks suspended payment of specie. 
 The Lower Canada banks suspended a week later, and only resumed 
 specie payments when the banks of the United States did so in June, 
 1838. A second insurrection in the following November compelled a 
 second suspension until June, 1839. 
 
 [32} 
 
The Bank of Montreal during this crisis and for a long time subset Folitical 
 quently had to husband its resources with the greatest care. The poli^ Agitation 
 tical situation in Lower Canada had destroyed confidence in the security ^«d the 
 of property, depreciated its value, and arrested the improvement and 'TufO Canadoi 
 settlement of the country. The province, instead of exporting, became 
 an importer of grain. Immigrants decreased in number from 52,000 in 
 1832 to 5,000 in 1838. All the banks were burdened by overdue debts, 
 and to a considerable extent banking facilities, by a forced system of re 
 newals, were confined to a class chiefly indebted to the banks at the 
 time of suspension. That the Bank of Montreal was conducted in these 
 difficulties with marked prudence and ability, and that it rendered con- 
 spicuous service to the interests of commerce and industry, was implied 
 in a compliment it received from Francis Hincks (afterwards Sir Francis 
 Hincks, Finance Minister of the Dominion) who welcomed its proposal, 
 in 1839, to extend its operations to Upper Canada; "for," said he, "in a 
 short time it would instruct our directors in the system of comjnercial 
 banking, which very few of them understand."" 
 
 The Legislature of Upper Canada gave the necessary authority to the 
 Bank to establish branches in that province, and the capital of the Bank 
 having been increased to £483 ,689, several were opened in 1 840 ; among 
 others, one at Bytown, now Ottawa, the capital of the Dominion. 
 
 It will be remembered that as early as 1818 the Bank had established 
 agencies at Kingston and York, but these had been withdrawn in 1823, 
 in consequence of an Act of the Legislature of Upper Canada which 
 prohibited banks not redeeming their notes in specie within the prov 
 ince from carrying on business there. Though suffering from this legal 
 incapacity, the Bc^ of Montreal had found a means of invading that 
 province by purchasing one of the Upper Canada banks, the Bank of the 
 People, and by operating within its boundaries under the name of that 
 Bank. During the period of specie suspension the Bank profited by pur" 
 chasing at a discount in Lower Canada the inconvertible notes of the 
 Bank of the People and then remitting them to Upper Canada for reissue. 
 
 A succession of bad harvests, the political convulsions, and commer- 
 cial changes and embarrassments such as had never previously been 
 experienced in the country, added to competition which had arisen 
 from the introduction of new banking capital, reached unfavourably 
 upon the returns to the Bank of Montreal's shareholders. The annual 
 dividends paid from 1837 to 1840 averaged only about one-half of those 
 paid in the five preceding years. 
 
 On the 5th February, 1841, in the second year following Lord Dur- 
 ham's famous report, the Provinces of Upper and Lower Canada were 
 
 [33] 
 
Political united in a new Province of Canada, and the Bank passed under the 
 Agitation jurisdid:ion of the common legislature. 
 
 and the In view of the important banking legislation pending in 1841, the 
 wo Canadas Board of Dired;ors took the unusual step of approving the candidacy 
 of the cashier, Benjamin Holmes, for the Legislature of the now united 
 provinces. He was elected for one of the Montreal distrid:s, but in 1844, 
 on account of the Bank's increasing business, he resigned his seat at the 
 request of the Board. 
 
 [J4] 
 
BENJAMIN HOLMES 
 
 CASHIER IS27-ia46 
 
 DAVID DAVIDSON 
 
 CASHIER isss-iaea 
 
 GENERAL MANAGER 1862-1863 
 
 ALEXANDER SIMPSON 
 CASHIER IS.*6- leSS 
 
 W. O . BUCHANAN 
 GENERAL MANAGER IS81- I890 
 
PROGRESS AND THE HON. PETER McGILL 
 
 1841^860 
 
 NE of the first measures of the new Canadian Parlia" 
 ment was to pass a general Banking Law, governing all 
 the banks in the two provinces. The Bank of Montreal 
 obtained a new charter, to run for about twentyone 
 years, and was authorized to increase its capital by £2 50,^ 
 000 to £750,000, the "double liability" being imposed 
 upon its shareholders in common with the proprietors of the other 
 chartered banks. 
 
 A rapid recovery set in from the calamitous events of i836''i839. A 
 tide of immigration again flowed up the St. Lawrence. A large number 
 of public works were undertaken, such as the completion of theWelland 
 Canal and the improvement of navigation between Kingston and Mont' 
 real and between Montreal and Quebec. How urgently pubHc works 
 such as these were needed, may be gathered from an interesting glimpse 
 of the conditions of the time, which was furnished, so lately as 1907, 
 by Mr. James Croil, for sixty years a shareholder of the Bank. Speaking 
 at a-shareholders' meeting he said: 
 
 "My first voyage to New York, in 1841, was made in forty days, then 
 accounted a fast voyage for an immigrant ship. The journey from New 
 York then took four ckys, for we did not travel by night. The last stage 
 was the rickety railway from St. John's to Laprairie — seventeen miles 
 — then the only passenger railway in Canada. It was opened in 1836. 
 When I began farming in Ontario, we had neither mowing nor reaping 
 nor threshmg machines, and the women had no sewing machines. I 
 threshed my first crop of grain in the same way that Oman, the Jebu' 
 site, did three thousand years before, and learned the meaning of the 
 Mosaic injundtion,*Thou shalt not muzzile the ox when he treadeth 
 out the com.' 
 
 "There was no money in circulation in those days. Everything was 
 done by barter. The surplus produds of the farm were exchanged by 
 the storekeeper for his dry goods and groceries. Most obliging man was 
 the storekeeper. He gave unlimited credit. If the account was over' 
 drawn, he took a little promissory note. When that matured, it might 
 
 [37} 
 
Progress be renewed, with compound interest added. When that fell due, if not 
 
 and the paid he took a little mortgage. And as a last resort, in many instances. 
 
 Honourable he took the Httle form ! 
 
 Feter McGill "Canada was then in miany respedts a terra incognita, consisting of 
 
 halfa'dozen provinces, knowing about as much of each other as they 
 
 did of the South Sea Islands, with differing laws, tariff, and currency. 
 
 The postage on a letter from Ontario to Hcuifax was 2s. 3d. 
 
 "Among the monetary institutions of the country at that time was 
 the Bank of Rustico, in Prince Edward Island. Its capital was £1,000, 
 Halifax currency. A thrifty former was the sole stockholder, the presi- 
 dent, general manager, and teller of the bank. It frequently happened 
 that a customer had to go out to the field and bring the cashier away 
 from the tail of the plough! " 
 
 Fortified by the new charter, which made them free to do business 
 in Upper as well as Lower Canada, and by the authorized increase of 
 capital; encouraged by the revival of trade and immigration; and fore 
 seeing a considerable extension of commerce and agriculture to new 
 districts; the directors of the Bank entered upon a policy of establishing 
 branches or agencies at various cities in the western province. A branch 
 was opened at Toronto in 1842, with William Wilson as cashier. Other 
 offices were organized at Kingston, Amherstburg, St. Thomas, Belleville, 
 St. Catharines, Cobourg, Brockville, Hamilton, and London. 
 
 In commending to the shareholders the policy of opening branches 
 of the Bank in these cities, the Honourable Peter McGill said: "The 
 Legislature having conferred on the Bank important privileges, and 
 authorized the creation and employment of a large capital, the Board, 
 instead of concentrating it all in the large cities, felt it to be their duty 
 gradually to extend throughout the province the benefits derivable from 
 the use of it by the establishment of branches and agencies at such 
 points and in such localities as appeared to them best calculated to en- 
 courage and assist the agriculture and commerce of the country, to 
 develop its resources, and to promote the increase of its exportable pro- 
 dud;ions, and at the same time to subserve the interests of the institu- 
 tion. I hope our successors will follow up the course that has been 
 adopted, which has, so far, proved profitable and satisfadtory. The in- 
 crease and prosperity of Montreal and Quebec depend principally on 
 the commerce of the fertile regions of the West, which is yet but in its 
 infancy, and devotion of part of the capital of the Bank to the encour- 
 agement of that trade, on safe business principles, must be attended 
 with beneficial effedt as well to the Bank as to the province at large." 
 
 The expansion of the Bank's business, due to the institution of the 
 
 [38] 
 
western branches, overtaxed the capacity of the Head Office building, Frogress 
 and an adjoining site in St. James Street was purchased from La Fabric and the 
 que de Montreal for £io,ooOo The structure erecfted upon this piece of Honourable 
 land, facing Place d'Armes, was handsome and weU'proportioned. Its Peter McGill 
 beautiful fagade, in the Corinthian style, has been universally admired. . 
 Removal to the new premises was efFed:ed in 1848, the vacated pro^ 
 perty being sold to La Banque du Peuple," with which,'" said Mr. McGill, 
 "this bank had ever been desirous of cultivating the most friendly re 
 lations." 
 
 The opening of the new building was contemporaneous with the 
 commencement of another period of depression. Commercial interests 
 had successfrilly averted a banking disaster in 1 842, when the American 
 banks again stopped payment in specie after the United States Bank 
 finally suspended. The fear of hostilities between Great Britain and the 
 United States over the Oregon question in 1845, had forced the direc 
 tors to Hmiit the loaning and discounting fiicilities of the branches in Can' 
 ada West, but that danger had happily passed. Various causes, how 
 ever, were at work to make the banking situation exceptionally difficult. 
 In 1847 a severe strain was placed upon the country by the arrival of 
 more than a hundred thousand Irish, of whom many were suffering from 
 fever and nearly all were destitute. The importations were excessive. 
 A bank crisis in England, brought on by frenzied speculation in rail" 
 ways, reverberated in Canada. Commercial failures, involving large 
 liabilities, were numerous. The severe depression which followed was 
 accentuated in Canada East by the effects of the free trade poHcy which 
 had been adopted by the mother country, and which destroyed the 
 partial monopoly, enjoyed by Canada under the former protective sys" 
 tem, in timber and other natural resources. The Bank of Montreal 
 suffered with the other banks of the country, being obliged to diminish 
 its Rest by £60,000 and to reduce its dividend from 7>^ per cent, in 
 1846 to 6 per cent, in 1849. "All the interests of the country have suf" 
 fered severely,"" the shareholders were informed. "Many of the bankers, 
 merchants, manufe,d:urers, and capitalists have fallen and been crushed 
 beneath the pressure of the times, and the commercial community of 
 this Province, dependent as it is, in great measure, upon the mother 
 country, has largely participated in the general calamity. The Bank has 
 sustained very considerable losses, the immediate cause being the unex" 
 peded, but great and very sudden decline in prices of agricultural pro- 
 dudtions, timber, and colonial built ships." 
 
 Notwithstanding the severity of this collapse, recovery was com' 
 paratively rapid. After 1850, business at Toronto and the seventeen 
 
 [39] 
 
Progress 
 
 and the 
 
 Honourable 
 
 Peter McGill 
 
 agencies or sub'agencies which the Bank now had in Canada West ex^ 
 hibited a vigorous growth. In 1852, the Allan Line, which played so 
 great a part in bridging the Atlantic, started its steamship operations. 
 The Grand Trunk and Great Western railways were commenced. Fol' 
 lowing the reciprocity treaty of 1854, trade between Canada and the 
 United States advanced by leaps and bounds. The harvests of 1853, 
 1854, and 1855 were abundant, and the price of breadstuffs high. 
 
 The Bank issued and sold an additional amount of capital stock in 
 1853, making its total capital £1,000,000, and two years later obtained 
 authority for a further increase to £1,500,000. 
 
 In 1855, the Bank established an agency of its own in New York, 
 where an outside institution had previously acted as its correspondent. 
 Today the agency holds a leading position among foreign financial in' 
 stitutions doing business in Wall Street, where it is an important lender 
 of call money. 
 
 In 1856, the Bank, having acquired the Montreal Savings Bank, es' 
 tablished its first Savings Department. The same year is memorable for 
 the operation of the first through train on the Grand Trunk between 
 Montreal and Toronto. 
 
 The artificial prosperity, brought about by the large amounts of bor^ 
 rowed capital expended on railroad construction, led to inevitable 
 reaction. The country, too, was again convulsed by violent political 
 agitation. Following the passage of the Rebellion Losses Act, the Par' 
 liament Buildings in Montreal were burned, and the equipage of the 
 Govemor'General stoned; resulting in the loss to Montreal of the seat 
 of government, for which Ottawa was chosen by the Queen. The better 
 prices for products had turned the attention of investors to speculations 
 in wild lands and unproductive real estate, and municipal borrowing 
 had been heavy. The unprecedented stimulation of trade had strained 
 bank accommodations to the utmost limit, and there was a prospect 
 that expenditure on railways and other public works would soon cease. 
 
 The crop of 1857 w^ a bad one. A commercial crisis throughout the 
 financial world was emphasized by a panic in England and the suspen' 
 sion of specie payments in New York. The Canadian Banks ceased to 
 discount. Then followed numerous commercial failures, the collapse of 
 the real estate boom, a fall in values and a contraction of credits, a 
 second bad harvest in 1858, and two years of black depression. The 
 Bank of Montreal maintained its position, although its profits dropped 
 from £176,936 in 1857 to £139,786 in 1858. 
 
 In 1 860, the Bank suffered a noteworthy loss through the retirement of 
 the Honourable Peter McGill, who had filled the presidency for twenty 
 
 [40] 
 
SIR EDWARD CLOUSTO N , BART 
 
 OCNERAL MANAGER r890-l9ll 
 
 VICE-PRESIDENT I90S-I9II 
 
 SIR FREDERICK Wl LLI AMS-TAYUOR 
 OENERAL MANAGER SINCE 1913 
 
six years. During his tenure of office the Bank had safely passed through Progress 
 three great commercial and financial crises, and was now more solidly and the 
 established than at any time in its previous history. Honourable 
 
 The Honourable Peter McGill was, in the opinion of the Rev. Dr. Peter McGill 
 Campbell, "perhaps, the most popular Scotchman that has ever Hved in 
 Montreal .... The general regard in which he was held was shown by 
 his being made the first mayor of Montreal, under the new constitution, 
 in 1840. He held the office for three consecutive years. He was bom at 
 Cree Bridge, Wigtownshire,inAugust,i789,andcameto reside in Mont' 
 real when he was twenty years old. . . . He was a Director of the Grand 
 Trunk Railway, as he was Chairman, indeed, of the first railway com- 
 pany in Canada, the St. Lawrence and Champlain .... He was ap' 
 pointed a member of the Legislative Council of the Province on the 1 5 th 
 November, 1832, and was called to the Legislative Council of United 
 Canada by Lord Sydenham, nth May, 1841. He was offered the posi' 
 tion of Speaker of the Legislative Council by Lord Metcalfe, in 1843, 
 but declined it. He was induced to become a member of the Executive 
 Council under Lord Elgin in 1847, but he resigned the position in 1848, 
 during the hot discussions regarding the RebeUion Losses Bill. His resig' 
 nation added immensely to his popularity with his fellow Scots, and in- 
 deed, with the entire British portion of the community — all the more 
 that he was weU'kno wn to be a Liberal in politics. He was one of nature's 
 noblemen. Possessing a massive frame, and endowed with physical as 
 well as mental energy, he was such a man as would be chosen a leader 
 in any circumstances." 
 
 [43] 
 
i 
 
 SI 
 
 ^^ 
 
 1^^^^ 
 
 HlE*^ 
 
 
 iS^ 
 
 i^^^^^^i 
 
 THE AMERICAN CIVIL WAR AND MR. E. H. KING 
 
 1 860- 1 87 3 
 
 |R.T. B. ANDERSON succeeded the Honourable Peter 
 McGill, and was fortunate at the outset in having as chief 
 executive officer of the Bank, Mr.DavidDavidson, who, 
 after several years' experience as cashier, was, in 1862, 
 appointed the Bank's first General Manager. Mr. David' 
 son returned to his native land, however, in 1863, and 
 assumed the management of the Bank of Scotland. During his connec 
 tion with that famous institution, its stately banking-house, one of the 
 finest edifices in "Auld Reekie" today, was erected on Castle Hill. 
 
 The first year of Mr. Anderson's presidency was signalized by an 
 amendment to the Bank's charter, whereby the Bank was empowered 
 to establish a guarantee fund for its employees in lieu of the form of secu' 
 rity previously required. Another advance was made in 1862, when 
 the Bank opened an office in Chicago for the purpose of facilitating the 
 participation by Canada in the great produce trade of the American 
 West. 
 
 The country was still struggling out of the depression of the late fif" 
 ties, and the Bank was finding difficulty in utilizing a considerable portion 
 of its funds, when the Civil War broke out in the United States. Its 
 effect was immediately felt in Canada. The heavy loss sustained by the 
 conversion of the Bank's funds in the United States into gold, the almost 
 entire cessation of business with that country, and the further deprecia' 
 tion of real estate held as security for old debts, together with ordinary 
 business losses, rendered the returns of the Bank unsatisfactory. Deficient 
 harvests, low prices for agricultural products, and increasing bank com' 
 petition had also to be reckoned with; and, in order to maintain an 8 
 per cent, dividend, $ 1 00,000 had to be taken from the Rest. But a brighter 
 day was about to dawn. 
 
 In 1864, despite the uncertainty attending business transactions with 
 the United States, the Bank entered upon a period of hitherto unex' 
 ampled prosperity under the able management of Mr. E. H. King, who 
 had succeeded Mr. Davidson. Under his guidance the directors defin' 
 itely announced, at the annual meeting in 1865, their determination to 
 
 [44] 
 
make no advances upon accommodation paper— a practice "long prevail' The Americ 
 ing in some parts of the province, and to which many of the banking Civil V/ar a 
 losses in Canada were attributable." The report of the proceedings at Mr. E. H. Ki 
 the annual meeting contains an admirable resume of the grounds upon 
 which the directors based their decision. 
 
 Mr. King favoured a system of banking under which the note circular 
 tion of the banks should be entirely based upon government securities, 
 and the Bank, which was benefiting by large deposits from the United 
 States, and which had been appointed the Financial Agent of the Prov- 
 ince, increased its holdings in government securities, so that they amount- 
 ed in 1868 to upwards of $4,000,000. 
 
 The Provincial Government, however, fell into poor credit, and the 
 Blue Books show that it was under severe pressure from its London agents 
 for the payment of obligations which were long overdue. The tying-up 
 of so large a proportion of the Bank's frmds in assets of a non-liquid 
 character hampered its business, and, inasmuch as the government secu- 
 rities depreciated in value, might have resulted in a serious loss if the 
 Bank dired:ors had not taken advantage of the Provincial Note Act 
 of 1866. 
 
 Mr. Gait — afterwards Sir Alexander Gait — ^was finance minister of 
 the Province, and held the theory that to issue notes for circulation was 
 a frinction belonging solely to the Government. As General Manager 
 of Canada's largest bank, Mr. King was naturally consulted, and he was 
 quick to see that if the Government issued notes for circulation and 
 made them legal tender, a large amount of the floating indebtedness of 
 the country to the Bank could be met without delay. Legislation was 
 duly passed, and under its provisions, the Bank of Montreal alone, of all 
 the banks in Canada, agreed to act as agent for the circulation of the 
 notes of the Province, and to surrender the right to issue its own notes. 
 The Bank also became the agent for the redemption of the Government 
 notes, and a highly unfavourable position from a banking standpoint 
 was altered into one of ease and profit. 
 
 Again, during the American Civil War the adroit management of 
 Mr. King converted a position that might have proved embarrassing in 
 less adept hands into one which was both safe and highly remunerative. 
 The Bank was a powerful financial ftidior in New York, where, as a con- 
 sequence of the long duration of hostilities, the price of gold had steadily 
 risen until it had reached a premium of nearly 300 per cent. Fortunately 
 for the Bank, it had a plentiful supply of gold at its disposal, and this was 
 lent out from time to time at highly favourable rates. The borrowers 
 usually gave United States currency as security, upon terms which per- 
 
 [45} 
 
z American mitted the Bank to employ the currency in discounting high'class trade 
 n] W^r and bills. The Bank thus earned a double profit without departing from the 
 '. E. H. King methods of legitimate business. 
 
 Notwithstanding the failure, in 1867, of the Comimercial Bank, which 
 the directors and general manager of the Bank of Montreal did every 
 thing, so far as was consistent with the safety of their own shareholders, 
 to avert, 1866 and 1867 were years of growing profits. Dividends of 10 
 per cent, per annum were paid, and the Rest was increased by large 
 amounts to $1,500,000. When the report for 1867 was read at the en' 
 suing annual meeting, a shareholder said: "This is the golden wedding 
 of the Bank, and they had certainly had a golden statement." But the 
 shareholders could congratulate themselves on more than the sizie of 
 their dividends and the amount of the Rest. The business of the Bank 
 had been established on a solid basis. Between 1863 and 1866 more 
 ' than a million dollars of bad and doubtful debts in Upper Canada were 
 
 written off, and the western business, which had been based largely on 
 accommodation paper, was placed upon a proper footing. 
 
 Its fiftieth year found the Bank enjoying not only a substantial meas' 
 ure of success but also a remarkable prestige. It had nearly a fourth of 
 the total paid'Up banking capital in Ontario and Quebec, and more 
 than a fourth of the banking assets. It was the Government's deposi- 
 tory and fiscal agent, and enjoyed peculiar advantages as the sole issuer 
 of provincial notes. Its capital was now $6,000,000, rest $1,500,000; 
 and its assets amounted more than $20,000,000. 
 
 The Bank's fiftieth year was to be the most notable in all Canadian 
 history, for it saw the birth of the Dominion of Canada, and, under the 
 terms of the British North America Ad;, banks and banking passed 
 under the jurisdiction of the Dominion Parliament. 
 
 Within a few weeks after Confederation the Bank of Montreal ex- 
 tended its operations to the Provinces of Nova Scotia and New Bruns' 
 wick by opening branches at the cities of Halifex and St. John. 
 
 After a temporary interruption caused by the refusal, in 1866, of 
 the United States to renew the Reciprocity Treatv of 1854, the new 
 Dominion experienced a period of great prosperity and expansion, 
 which lasted until the close of 1 87 3 . Immigration was heavy. The area 
 of settlement was extended to the new Province of Manitoba, and the 
 supply of agricultural produce was much increased. Canada being the 
 nearest, was the first country to benefit by the rehabilitation of the 
 United States after the close of the Civil War. Not only were remu- 
 nerative prices obtained for the lumber and agricultural products which 
 were accustomed to find American markets, but an exceptional demand 
 
 [46] 
 
INTXRIOB HEAD OFFICE BUILDING, MONTREAL 
 VESTIBULE LOOKING TOWARDS MAIN BANKING ROOM 
 
arose for manufacftures and even for imported goods, to replenish the The Amerii 
 warehouses and counters of American traders. The Intercolonial Rail" Civil War c 
 way was built, and a million dollars were spent on the Canadian Pacific Mr. E. H. K 
 Railway. The timber trade was stimulated, and a powerful impetus 
 given to business in produce. It was a time of increased activity in 
 manufacture, transportation, and exchange. Nineteen new banks came 
 into existence, and competition between the larger and older banks 
 did not end before the capital of the Bank of Montreal was raised to 
 $12,000,000. Having the largest capital, the largest reserve, and the 
 management of the government account, the Bank was never over" 
 taken by any of its rivals. 
 
 The shareholders of the Bank participated in the general prosperity. 
 Handsome dividends were paid and large sums added to the Rest, Mr. 
 King stating that the unusually large profits were due to the Franco" 
 Prussian War and a disturbed state of the money market, which enabled 
 the Bank to use its funds to the greatest advantage. 
 
 In 1870 the Bank opened an office in London, at 27 Lombard Street, 
 with the objed: of extending and developing through its agency the 
 British and foreign trade of the Dominion. Through the course of years 
 the Bank has been instrumental in negotiating public loans on behalf 
 of Canadian government, municipal,and other borrowers totalling hun^ 
 dreds of millions of pounds. In December, 1892, by a Canadian Order' 
 in"Council, the Bank was appointed Fiscal Agent in London for the 
 Government of the Dominion of Canada. The Bank's chief London 
 office is now at 47 Threadneedle Street, B.C., and there is an important 
 sub'branch in Waterloo Place, Pall Mall, which has proved invaluable 
 to Canadian troops overseas, the accounts of many thousands of Cana^ 
 dian officers, men, and nursing sisters being kept there. The business of 
 this branch has outgrown available space, and a new sub'branch is to 
 be opened in Cockspur Street, Trafalgar Square. 
 
 In 1 87 1, the Bank became subjed: to the provisions of the "Act relat' 
 ing to Banks and Banking,'"* the first general law relating to banking 
 passed by the Dominion Parliament. At the time of Confederation there 
 were eighteen banks conducting business in Ontario and Quebec under 
 charters granted by the Province of Canada. In Nova Scotia five banks 
 were operating under local charters, and in New Brunswick there were 
 four similarly authorized institutions. When these provinces were 
 imited, it became desirable that their banks should be brought under 
 one system. The enactment of an acceptable law governing banking 
 operations was, therefore, one of the important duties of the Domin" 
 ion's first Parliament. The shaping of legislation binding so many insti' 
 
 [49] 
 
American tutions which had hitherto conducted their operations upon different 
 V/ar and hnes, was a laborious task, not infrequently attended by heated contro' 
 I. H. King versy. Under the law of 1870, banks were no longer permitted to issue 
 notes of lower denomination than five dollars. 
 
 Upon the resignation of Mr. Anderson in 1869, Mr. King was pro" 
 moted to the Presidency of the Bank, with Mr. R. B. Angus as General 
 Manager. 
 
 Mr. King, an Irishman by birth, has been described by a Canadian 
 banking contemporary as "one of the most remarkable personalities 
 that ever appeared in connection with Canadian banking. No one 
 would have suspeAed from his appearance the amount of resolution 
 and firmness bound up in his characfter. He had a singular aptitude for 
 arithmetical calculation, an aptitude he was rather fond of displaying. 
 
 "On Mr. Davidson's removal to Scotland, Mr. King became General 
 Manager. This great office called forth all the powers and abilities that 
 were in the man, and he entered from that time on a course of opera' 
 tions of a far wider range and bearing, not only on the position of the 
 Bank, but of the whole country." 
 
 The character of the chief of these operations has been indicated in 
 the foregoing pages. To what extent they benefited the country it is 
 impossible to estimate, but it is certain that the Bank owes much of its 
 success to the genius of this remarkable man. 
 
 When, in 1 87 3 , Mr. King announced his intention to retire, the share 
 holders authorized the appropriation of $ 1 0,000 or one shilling per share, 
 for the purpose of presenting him with a testimonial "as a general ex' 
 pression of their appreciation of the eminent services rendered by him 
 to the Bank." After his retirement Mr. King resided in England. 
 
 [50] 
 
DEVELOPMENT OF THE NORTH -WEST 
 1873^900 
 
 ELAXATION of the intense adivity of the preceding 
 period began in the fall of 1873, and the banks restricted 
 discounts. Following the failure of a large American 
 lumber firm and a financial crisis in the United States, 
 the policy of restriction was enforced with vigour. Ship' 
 ping, agriculture, the lumber trade, were stagnant, and 
 railway enterprise was stopped. Many of the banks were obliged to 
 reduce their capital. After five years of severe depression, Mr. George 
 Stephen (now Lord Mount Stephen) who had succeeded to the presi" 
 dency, told the shareholders, in 1879, that "any permanent amelioration 
 of this country's prospects is not to be looked for while the prostration 
 which now characterises the commerce of the world, and more particu' 
 larly the industries of Great Britain, continues so intense." 
 
 In that year the Bank's profits fell for the first time in a decade below— 
 and far below — a million dollars, and the Rest was reduced, for the last 
 time in the Bank's history, in order to offset the shrinkage in the value 
 of securities. Nevertheless, the Bank was able during this period of 
 deep depression to distribute dividends averaging nearly 12 per cent, 
 on a capital of $12,000,000. 
 
 The depression led the directors of the Bank to curtail also the opening 
 of branches, and this restraint continued until the development of the 
 North "West was begun. The chief functions of the Bank at that time 
 were stated by Mr. Angus to be that of furnishing facilities "for the 
 larger commercial operations of the country and of being the banker of 
 other banks." One forward step was, however, taken when, in 1878, a 
 year marked by wonderful growth in the population of the Western 
 States, the Bank opened at Winnipeg its first branch west of the Great 
 Lakes. 
 
 In 1879, Mr. Angus retired from the general managership and resided 
 in St. Paul for a time, taking part in the management of the St. Paul 6? 
 Pacific Railroad. His connection with this railroad had been brought 
 about in the following manner. Mr. Stephen and Mr. Angus were 
 obliged to visit Chicago on urgent bank business. Having accomplished 
 
 [51} 
 
development their errand, and with a free day upon their hands, they decided to visit 
 of the some other city. Mr. Stephen wanted to see St. Louis, but Mr. Angus 
 N[orth West said, "No, let us go to St. Paul and see this Mr. Hill about whom and 
 his railroad Donald Smith is always talking.'"" Each adhering to his wish, 
 they agreed to abide by the fall of a coin. The coin said St. Paul, and to 
 St. PaiS and Mr. James J. Hill they went. The result of the trip was the 
 formation of a syndicate to purchase the St. Paul 6? Pacific Railroad, 
 and it was through connection with this enterprise that Lord Mount 
 Stephen and the late Lord Strathcona, in conjunction with the late Mr. 
 James J. Hill, were enabled largely to augment their fortunes. 
 
 The railroad, through its subsequent development, expanded into the 
 Great Northern Railroad of Minnesota, and it was mainly owing to the 
 success in this enterprise of the above-named gentlemen that they were 
 urged by the Canadian Government to undertake the greater task of 
 binlding the Canadian Pacific Railway. At the date of the Bank's cen' 
 tenary, Mr. Angus is still hale and hearty, and an outstanding and hon' 
 oured figure in the community. 
 
 In October, 1879, commerce finally revived. Crops were good and 
 prices high. Manufacturers, wholesalers, retailers, aU felt the new im^ 
 pulse. Millions upon millions of dollars were brought into the country 
 during the next few years to build the Canadian Pacific Railway. Im^ 
 migration increased rapidly, and the development of the West beyond 
 Manitoba began. Extraordinary activity in real estate accompanied 
 the march of the new railway, reaching the dimensions of a "boom" in 
 Manitoba. Many new banks were incorporated. 
 
 The Bank shared in the general prosperity covering the years 1 880 to 
 1883, and in 1884 established a Pension Fund "for the superannuation 
 of the officers of the Bank, and embodying a provision for widows and 
 orphans of the officers, on a scale based upon the amount of salary and 
 length of service of each officer." 
 
 £1 1883 the land boom in the prairie province collapsed. The price of 
 building lots in Winnipeg had risen above the value of lots as centrally 
 located in Montreal and Toronto, and all kinds of land schemes had 
 been started by persons who had sold their solid securities to put the 
 proceeds in lands "in prairie villages of which the ink on the first survey 
 was hardly dry." The fall was hard. Prospective millionaires found them^ 
 selves paupers overnight, a good part of the community became bankrupt 
 forthwith, involving many others in their ruin. Between 1883 and 1889, 
 several banks failed and many were obliged to reduce their capital. 
 
 Through the gloom ensuing upon the crash of the wild lands specu' 
 lation, the completion, in 1886, of the Canadian Pacific Railway cast a 
 
 [?2] 
 
INTERIOR HEAD OFFICE BU I LDI NG , MONTREAL 
 CORNER MAIN BANKING ROOM 
 
bright ray of promise. The Bank's resources to a marked extent had Development 
 been behind the project, in the face of widespread misgivings not only of the 
 regarding the practicability of the railway itself, but also as to the agri' 'H.orthV\kst 
 cultural prospect between Manitoba and the Rockies. Subsequent 
 events have completely justified the Bank's directors in backing an un" 
 dertaking which has contributed more than any other to the settlement 
 and development of Canada's vast western areas. 
 
 The completion of the railway linking the East with the West, opened 
 up a new and fascinating vista, to which the attention of the sharehold" 
 ers was frequently directed by Sir Donald A. Smith, then Vice-President 
 of the Bank, who along with a former President, Sir George Stephen, 
 had borne a chief part of the burdens entailed by the railway's construe 
 tion. At the annual meeting in 1886, the former said: "I may mention, 
 as one instance of what we may look forward to in the future, from the 
 opening up of the country traversed by the railway, that I heard from 
 the Vice-President, Mr. Van Home, the other day, that a ship had left, or 
 was about to leave, Yokohama with a cargo of teas for Vancouver, and 
 that these teas are to be carried over the Canadian Pacific Railway and 
 delivered not alone in Montreal, Ottawa and Toronto, but in St. Paul, 
 Chicago, New York, and the New England States. This shipment wiU 
 be about equal to one hundred carloads, and will be a very substantial 
 commencement of the trade which we expect with China and Japan." 
 
 Again,at the annual meetingin 1887, when, after the death of Mr.C. 
 F. Smithers, he had become the Bank's President, he said : "There is now 
 on the sea, from Hong Kong and Yokohama to Vancouver the first of a 
 line of steamers from those countries to Vancouver." Emphasizing the 
 value of the through routes opened up by the new transcontinental, he 
 remarked, at the annual meeting in 1890: "We have in this city today 
 H,R.H. the Duke of Connaught and hiis consort. They have come, not 
 from England in the old way across the Atlantic, but from India byway 
 of China and Japan, on to Vancouver, then crossing the continent to 
 Montreal, so frilfilHng the dream of those who, centuries ago, came here 
 hoping to find a route to China through Canada." 
 
 The Bank was not slow to take advantage of the opportunities for 
 business which were opened up by the completion of the Canadian 
 Pacific. Despite the prevalent commercial stagnation, the Board antici' 
 pated the future by opening branches at Vancouver and Victoria, and 
 subsequently at divisional points along the line of the railway, which 
 have since become busy and thriving cities. 
 
 It is not within the scope of this brief sketch to describe the recur' 
 rent ebb and flow of prosperity from 1890 to the present day, or to do 
 
 C 55 ] 
 
Development more than indicate the sources of the impulse behind any general eco' 
 of the nomic movement ; for these things will be within the knowledge of the 
 T^orth^est majority of the readers of these pages. It will suffice, then, to say that 
 while some recovery was manifested in 1888 from the reaction of the 
 four preceding years, business was dull in 1890 when Mr.E. S. Clouston 
 assumed the general managership of the Bank, and it showed only oc 
 casional and local accession of vigour during the six years following. 
 
 Mr. Clouston's position was by no means a bed of roses. In 1890 
 occurred the failure, with colossal liabilities, of the bank of Baring Bro" 
 thers. The "silver question" was vexing the minds of the statesmen and 
 bankers of two continents. And the passage of the McKinley Tariff 
 was dislocating the whole trade of Canada with the United States. In 
 1893, Australm experienced a terrible banking crash, followed by a 
 severe stringency in the London money market. The extraordinary sil- 
 ver legislation in the United States had brought about an appalling state 
 of affairs. Several railroads passed into the hands of receivers, large 
 corporations closed their doors, banks were failing daily, currency went 
 to a premium and could hardly be obtained at all. The acute stage of the 
 worst panic in the financial history of the United States was passed 
 when, in the late fall of the year, Congress repealed the ill-omened Sil' 
 ver BiU. Canada was more fortunate than most countries, and escaped 
 any serious crisis, but she had her troubles, and heavy losses were in' 
 curred by the more adventurous of the community. 
 
 The "worst panic in the history of the United States" was speedily 
 followed by another over the Venezuelan incident, which Mr. Clouston 
 described as "one of the worst panics, if not the worst of the century, 
 and not only in the United States but in Canada also, ruin apparently 
 stared everyone in the face. . . . But the very violence of the panic 
 worked its own cure, as it made apparent . . . how* closely the two 
 great English-speaking nations were bound by their commercial rela^ 
 tions. Cool heads and better counsel prevailed, and the danger gradually 
 passed away." 
 
 Notwithstanding this succession of financial shocks and disasters, 
 the Bank was able to strengthen its position and to distribute annual 
 dividends of 10 per cent, to its stockholders. In 1897 the tide again set 
 fevourably , and the commercial comjnunity became imbued by a feeling, 
 thoroughly justified, of buoyancy and elation. At the annual meeting 
 in 1900, the General Manager reported that " firom every province with 
 the exception of British Columbia came statements of universal pros' 
 perity." At the same meeting the Vice "President, the Honourable 
 George A. Drummond, referred to the South African War, and to the 
 
 [56] 
 
manner in which the Bank had in some measure departed from preced- 
 ent and contributed liberally to Imperial and home organiza-tions having 
 the care of soldiers and their dependents. 
 
 "To ourselves," he said, "it is a source of pride that among them (the 
 soldiers) is a corps of mounted infantry, consisting of 589 men equipped, 
 armed, and carried to the seat of war through the princely liberality of 
 the President of this Bank (Lord Strathcona). Heavy as is the price 
 exacted in war for any benefits — not in treasure alone, for that is 
 secondary, but in blood — Canadians now occupy a place among the 
 nations not hitherto accorded them, and can realize as never before 
 that their country is part and parcel of the Empire, while the most dis- 
 tant shore where our flag flies is but a portion of our heritage." 
 
 In 1 89 5 , after financial troubles due to mismanagement had disrupted 
 the banking institutions of the Colony of Newfoundland, the Bank of 
 Montreal opened an office in St. John's, which was followed later by 
 branches in some of the more important outlying towns. The Bank is 
 entrusted with the business of the Newfoundland Government. 
 
 Developmeni 
 of the 
 TsiorthV/est 
 
 [57] 
 
PROSPERITY AND THE GREAT WAR 
 I900'i9i7 
 
 IH thenewceotuiyafloodofpi06penty,such as Canada 
 had never previously enjoyed, swept over the coiintr>% 
 and did not subside for more than a decade. Immigrants 
 came in numbers so great as to tax the ability of the 
 community to absorb them. The construction of two 
 great transcontinental railway systems brought thou' 
 sands oi lor t*^ ^ ^bourers and hundreds of inillions of English money 
 
 into die CO -\bundant crops and high prices for average crops 
 
 enriched the burners. Hundreds of new^ manufacturing plants were 
 established. Mining, huDbering, fishing, and all industries based upon 
 natural resources flourished. International trade and ocean traffic rapidly 
 increased. EjqpcHters and importers, "wholesalers and retailers, experi' 
 enced great adivity and prosperity. The Bank clearings — the barometer 
 of trade— which amounted to less than sixteen hundred millions in 1900, 
 surpassed in 191 3 eight thousand millions of dollars. 
 
 Upon the sur^ce of this flood, maintained largely by an outpouring 
 of English and American money, the untoward political and economic 
 happoiings within or without the country hardly brought a ripple. Yet 
 some c^ these events would have been sufficient in more normal drcum^ 
 stances to have caused a severe check. In the Russo-Japanese War there 
 was perhaps no dement of danger to Canada^s well-being. But, in 1 906, 
 the fcnanHal community suffizred a spasm of anxiety through the failure 
 of the Ontario Bank. At the critical moment, Mr. Clouston, a man of 
 great gifts and a remarkable personality, interposed with a promptness 
 and courage which earned w^eU-merited praise. Recounting his action 
 at the next meeting of the shareholders, he said, " When in 0<aober the 
 denkxable ccmdition of the Ontario Bank was submitted for the con- 
 sideratioQ of a number of bankers, it was thought best in the interests 
 of all coocemed that the Bank should be liquidated, and with a view of 
 albyn^an exdtement w^hich would probably be detrimental to the in- 
 terests of the commercial community generally, it was decided that this 
 Bank should undertake to assume all the liabilities of the Ontario Bank 
 — a guarantee beii^ subsequently given by the other banks in the event 
 
 [58] 
 
PLACE D'ARMES, MONTREAL, IN 1784 
 Present Site of Bank's Head Office Building 
 
 Reproduction of an old woodcut, showing Place d'Armes priof 
 to the erection of the first building of the Bank of Montreal on St, 
 James Street. The building on the left is the old Notre Dame Church. 
 
 On the right are shown: 
 
 (1) Site whereon the Bank erected its first building, now the loca- 
 tion of the Montreal General Post Office; 
 
 (2) and (3) The grave-digger's house and gate of the cemetery, on 
 which site the present Bank Building stands; 
 
 (4) Site of the present Royal Trust Building. 
 
of the assets being insufficient to discharge the liabilities. This Bank is Prosperity 
 also a party to the guarantee." and the 
 
 In 1 907, by the opening of a branch at Charlottetown, Prince Edward Great War 
 Island, the Bank rounded out a system of agencies that embraces every 
 province of the Dominion. 
 
 In the same year a panic was precipitated in New York through over" 
 speculation by a group of national banks, followed by the suspension of 
 the Knickerbocker Trust Company. Runs on other companies and a 
 heavy fall in bank reserves culminated in a suspension of payment of 
 cheques in currency which lasted for many weeks. 
 
 In 1908 came the failure of the Sovereign Bank and two small country- 
 banks, the former being liquidated, through the assistance of a number 
 of the banks, without loss to the depositors. It was an instance of a 
 bank adopting unusual methods to attrad: depositors and making un^ 
 safe advances to provide profits and dividends. 
 
 While the country was experiencing a prosperity which these shocks 
 were inadequate to disturb, the Bank endeavoured to extend its fecili- 
 ties to keep pace with the growth of trade. Branches or sub-agencies 
 were established wherever there appeared the prospedt of sufficient 
 business and the need for banking accommodation. Numbering twenty- 
 nine in 1863 and only thirty-one in 1886, they had increased to forty- 
 eight in 1900. By 1905, however, their number rose to a hundred, of 
 which twenty-four, with established businesses at points where the 
 Bank of Montreal was not represented, were acquired through the 
 purchase of the People's Bank of Halifax. Twenty- six more were 
 added in Ontario through the acquisition of the assets of the Ontario 
 Bank. 
 
 To provide for the expansion of the Bank's business and circulation, 
 the capital was increased to $14,000,000 in 1905 and to $16,000,000 in 
 191 2. The Bank has authority to issue capital up to $25,000,000. 
 
 The rapid growth of the Montreal staff necessitated the provision 
 of greater space than was obtainable in the Head Office building, and 
 its reconstrudtion and enlargement were promptly undertaken. The 
 fagade on St. James Street was preserved, but the original strudrure was 
 almost completely remodelled and coupled with a large extension, fee- 
 ing on Craig Street. The plans were drawn by Messrs. McKim, Mead fe? 
 White, and the Craig Street elevation, in the classic style, is chaste, 
 dignified, and wholly admirable. By this reconstruction and extension, 
 completed in 1905, the accommodation for the Head Office was more 
 than doubled, but it is already apparent that the expectation that it 
 would provide for all future requirements will not be reali2;ed. 
 
 [61} 
 
Prosperity To cope successfully with the demands of a great and growing busi' 
 and the ness, executive officers and dired:ing heads are required as well as money 
 Great V/ar and space and employees. In 1903, therefore, the dired;ors created the 
 post of Assistant General Manager, to which they appointed Mr. H. V. 
 Meredith, who had been manager at Montreal since 1889 and whose 
 entire business life had been given to the service of the Bank. In 1905, 
 Lord Strathcona, whose duties as Canada's High Commissioner in Lon' 
 don had allowed him to pay only infrequent visits to this country, 
 resigned the presidency of the Bank, which he had held for eighteen 
 years. Appointed Honorary President, he retained that title until his 
 death in 19 14. The Honourable Sir George A. Drummond was nomi- 
 nated to the presidency, Mr. Clouston, who was created a baronet in 
 1908, becoming Vice-President and a director, while retaining the gen- 
 eral managership. The presidency again became vacant in 19 10 upon the 
 death of the Honourable Sir George A. Drummond after twenty-eight 
 years of service on the Board, and was filled for three years by Mr. 
 R. B. Angus, who had relinquished the general managership so long 
 ago as 1879. Mr. Meredith (now Sir Vincent Meredith, Bart.) became 
 chief executive officer upon the resignation of Sir Edward Clouston in 
 191 1, and succeeded Mr. Angus as President two years later, when Sir 
 Frederick Williams -Taylor, who had been manager first of the Chicago 
 Branch and then of the London Branch of the Bank, assumed the gen- 
 eral management. 
 
 In the meantime the flood of prosperity, which reached high-water 
 mark in 191 2, had receded far before the close of 191 3. The construc- 
 tion of the new transcontinental railways and the rapid development 
 of the Western provinces had been marked by the same charadieristics 
 as the construd;ion of the Canadian Pacific and the opening-up of those 
 provinces in the eighties. Large and often imprudent capital expendi- 
 tures had been made by industrial, municipal and other corporations, 
 encouraged by the ease of procuring money. Again a wild speculation 
 in land had culminated in a "boom," far bigger than the Manitoba boom 
 of the eighties inasmuch as it spread from the Atlantic to the Pacific. 
 Sufficient farming, orchard, and garden land in the island of Montreal 
 was withdrawn from cultivation, and sub-divided into building lots, to 
 provide room for the population of another London. The inflation of 
 values was relatively higher in many western cities and towns. 
 
 In such an atmosphere an outbreak of highly speculative and, indeed, 
 questionable promotions was inevitable. "These conditions," said Sir 
 Vincent Meredith at an annual meeting, "were taken advantage of by 
 company promoters and speculators to bring about unduly inflated ficfti- 
 
 [62] 
 
ST. JAMES STREET, MONTREAI., IN 1830 
 
 From a hand -colored engraving published in 1830, show- 
 ing St. James Street in winter. The first building on the 
 right was the headquarters of the Bank of Montreal from 
 1819 to 1848. Note the Flaxman panels in the fagade men- 
 tioned on page 19. 
 
tious values, and the extent to which these were carried aroused sus' Prosperity 
 picion and distrust of Canada's economic position in the money mar' and the 
 kets of the world, followed by a close scrutiny of our securities and a Great War 
 curtailment of money supplies so essential to our development." 
 
 With the completion of the railways and the cessation of the stream 
 of English capital, "the bottom fell out of the land boom." Happily the 
 banks, being prohibited from lending money on real estate, were not 
 directly affected, and the losses fell upon the individuals who had in" 
 dulged in the speculative mania. 
 
 The embarrassment caused by this reversal of conditions had a salu' 
 tary effed: on the country in general, for, in the words of Sir Vincent 
 Meredith, "it brought us to realize the facft that unproductive expendi' 
 tures must of necessity cease for a while, and our efforts be directed 
 towards development of natural resources, accelerated by a large flow 
 of immigration. The situation was pregnant with economic danger." 
 
 It fortunately happened that for over a year previously manufac 
 turers and merchants, in response to repeated warnings, had prepared 
 for such a contingency and started upon a course of curtailment and 
 readjustment. The economic position was approaching a more normal 
 condition when the Great War plunged the whole financial fabric in 
 a cataclysm. 
 
 What followed in Canada is conmion knowledge. The recovery of 
 confidence through Britain's command of the sea. The prompt action 
 of the Government in meeting the crisis by providing facilities for re^ 
 discount and by making Bank notes legal tender. The wonderful crop 
 of 191 5, and enhanced prices for the country's produds. The vast expen' 
 ditures for munitions and war suppHes. And finally, the phenomenal 
 change in Canada's position in international trade, from that of a debtor 
 in 1913 to the extent of $198,000,000 to that of a creditor in 1916 to 
 the extent of $463,000,000. The increase of national wealth is appar- 
 ent upon a glance at the recent statements of the Bank. Public deposits 
 at the end of the Bank's year in 19 14 amounted to $186,000,000; in 
 April, 1917, they exceeded $308,000,000. 
 
 The Bank was in a strong position at the outbreak of hostilities; its 
 position has been made stronger every day that the war has lasted. 
 Desiring to give its depositors the greatest measure of protection what" 
 ever might befall, and to enable the Bank to rise to the height of any 
 emergency, however great, the directors deemed it prudent to forego 
 the profit on a part of the liquid reserves ordinarily employed abroad, 
 and convert it krgely into cash and bank balances. The specie, govern" 
 ment notes, and Gold Reserve deposits, which in 191 3 aggregated less 
 
 [65] 
 
Prosperity than $24,cxx),ooo, amounted in last April to more than $59,000,000, 
 and the while the proportion of liquid assets to public liabilities grew from 49 
 Great War per cent, in 191 3, to 55 per cent, in 1914, to 64 per cent, in 191 5, and 
 to 76 per cent, in April, 19 17. 
 
 But of the impregnable position of the Bank, its officers are not apt 
 to speak. They find their pride in the number of the staff, who, spring' 
 ing to the call of duty and of patriotism have gone to do battle for the 
 safety of their race and the freedom of the world. "I have," said Sir 
 Frederick Williams ^Taylor at the annual meeting in last December, "no 
 words sufficiently eloquent fully to express our pride in their achieve 
 ments, our grief in their losses. Fortyeight per cent, of our total male 
 staff, or sixty-seven per cent, of those of military age, have enlisted. Fifty 
 one of our best have been killed; one hundred and seven are wounded, 
 missing, or prisoners of war. Several of our men have been decorated by 
 the King for conspicuous valor, and the whole contingent is illustrious." 
 
 [66] 
 
ROBERT ORIFFIN 
 
 FIRST CASHIER BANK OF MONTREAL 1817-1827 
 
 (FROM A SII-HOUETTE) 
 
APPENDIX 
 
 •f 
 
BOARD OF DIRECTORS AND EXECUTIVE 
 
 OFFICERS 
 
 * 
 
 Sir Vincent Meredith, Bart., Vresid^ent 
 Sir Charles Gordon, k.c.b.e., Yxct'Vresxd^erat 
 
 R. B. Angus, Esq. Harold Kennedy, Esq. 
 
 Lord Shaughnessy, k.c.v.o. Major Herbert Molson, m.c. 
 
 C. R. HosMER, Esq. G. B. Eraser, Esq. 
 
 H. R. Drummond, Esq. H. W. Beauclerk, Esq. 
 
 D. Forbes Angus, Esq. Colonel Henry Cockshutt 
 Wm. McMaster, Esq. J. H. Ashdown, Esq. 
 
 Sir Frederick Williams "Taylor, General Manager 
 A. D. Braithwaite, Assistant General Manager 
 
 F. J. Cockburn, Superintendent 
 Quebec, Maritime and Newfoundland Branches 
 
 D. R. Clarke, Superintendent E. P. Winslow, Superintendent 
 British Columbia Branches Western Branches 
 
 O. R. Sharp, Secretary, Head Office 
 
 LONDON, ENGLAND 
 
 47 Threadneedle Street — G. C. Cassels, Manager 
 
 9 Waterloo Place, Pall Mall 
 
 Advisory Committee 
 Sir Thomas Skinner, Bart. A. Macnider, Esq. 
 
 NEW YORK AGENCY 
 64 Wall Street — R. Y. Hebden, W. A. Bog, J. T. Molineux, Agents 
 
 [70] 
 
BRANCHES OF THE BANK OF MONTREAL 
 September ist, 1917 
 
 Branch Manager 
 
 Alliston, Ont A. C. Osborne 
 
 Almonte, Ont S. J. Plunkett 
 
 Aurora, Ont R. S. Morphy 
 
 Belleville, Ont R. Tannahill 
 
 BowMANViLLE, Ont , J. A. McClellan 
 
 Brantford, Ont A. Kohl 
 
 Brockville, Ont H. S. Dupuy 
 
 Camp Borden J. Morris, Sub- Agent 
 
 Chatham, Ont H. A. Dean 
 
 CoLLiNGWOOD, Ont J. F. Johnstone 
 
 Cornwall, Ont A. E. Finnemore 
 
 Deseronto, Ont J. P. Ash worth 
 
 Fenelon Falls, Ont G. Dean 
 
 Fort Wh^liam, Ont. . W. Stevenson 
 
 Graham, Ont. (Sub. to Fort William) . . . . J. W. Wallace, Acting Sub- Agent 
 
 GoDERicH, Ont W. L. Eliot 
 
 Guelph, Ont C. E. Freer 
 
 Hamilton, Ont R. R. Wallace 
 
 Barton- Victoria C. E. Counsell, Sub-Agent 
 
 King City, Ont D. M. Farmer 
 
 Kingston, Ont A. J. Macdonell 
 
 Kitchener, Ont J. C. Anderson 
 
 Lindsay, Ont H. B. Black 
 
 London, Ont R. W. Travers 
 
 Mount Forest, Ont E. B. Yule 
 
 HoLSTEiN, Ont Sub. to Mount Forest 
 
 Newmarket, Ont C. G. Ross 
 
 Oakwood, Ont L. KIrby, Acting Sub- Agent 
 
 Ottawa, Ont A. G. Parker 
 
 Bank Street K. Eardley-Wilmot, Sub-Agent 
 
 Petawawa Camp (Sub. to Ottawa) . . . . N. G. Johnston, Acting Sub-Agent 
 
 Paris, Ont F. D. Widder 
 
 Perth, Ont P. J. C. MacDonnell 
 
 Peterboro, Ont C. C. Abbott 
 
 PiCTON, Ont A. E. Wilson 
 
 Port Arthur, Ont W. H. Nelson 
 
 Port Hope, Ont H. R. Boulton 
 
 Renfrew, Ont A. W. Strickland 
 
 Sarnia, Ont W. H. Norton-Taylor 
 
 Sault Ste. Marie, Ont F. H. Pope 
 
 Schreiber, Ont E. B. Hesson, Sub-Agent 
 
 Stirling, Ont T. E. B. Yeats 
 
 Stratford, Ont L. J. Webster 
 
 St. Catharines, Ont W. G. Richardson 
 
 [71] 
 
Branch Manager 
 
 St. Mary's, Ont J. W. G. Watson 
 
 Sudbury, Ont W.J.Montgomery 
 
 Toronto, Ont G. G. Adam 
 
 Bathurst Street A. E. Finucane, Sub- Agent 
 
 Carlton Street C. S. R. Laidlaw, Sub-Agent 
 
 DuNDAS Street ' . , . W. H. Cutler, Acting Sub-Agent 
 
 Eglinton D. A. Radcliffe 
 
 Parkdale J. J. Bryan, Sub-Agent 
 
 Queen and Portland Streets A. E. Hagerman, Sub- Agent 
 
 Queen Street East F. Carmichael, Sub- Agent 
 
 West Toronto C. F. Foster, Sub- Agent 
 
 YoNGE Street H. C. Webster, Sub-Agent 
 
 Trenton, Ont B. H, Siddall 
 
 Tweed, Ont F. E. Fisher 
 
 Wallaceburg, Ont S. J. Jarvis 
 
 Waterford, Ont J.Brown 
 
 Welland, Ont D.H.Burns 
 
 Windsor, Ont F. W. B. Moore 
 
 Buckingham, Que H. R. White 
 
 Cookshire, Que F. E. Halls 
 
 Danville, Que W. W. Bruce 
 
 Fraserville, Qxte J. C. Brown, Acting Manager 
 
 Granby, Que C. A. Thompson 
 
 Grand Mere, Que H. Simms 
 
 Hull, Que W. G. Fisher, Sub-Agent 
 
 Levis, Que J. R. Thomson 
 
 Magog, Que G. Filliter 
 
 Megantic, Que A. B. L'Homme 
 
 Montreal, Que C. W. Dean 
 
 Bleury Street G. S. Low, Sub-Agent 
 
 Hochelaga H. H. W. Wurtele, Acting Sub- Agent 
 
 Lachine, Que P. C. Howard, Sub-Agent 
 
 McGill Street F. N. Smith, Acting Sub- Agent 
 
 Maisonneuve L V. J. Cleary, Sub-Agent 
 
 Notre Dame de Grace J. H. Hudson, Sub-Agent 
 
 Papineau Avenue J. A. Bleau, Sub-Agent 
 
 Peel Street G. E. F. Aylmer, Sub- Agent 
 
 Point St. Charles G. K. Nash, Acting Sub-Agent 
 
 Seigneurs Street G. C. Smith, Sub-Agent 
 
 Ste. Anne de Bellevxje J. F. Jewell, Acting Sub- Agent 
 
 St. Henri W. L Hogg, Acting Sub- Agent 
 
 St. Lawrence A. L. Branchaud, Sub- Agent 
 
 Verdun A. E. Tetrault, Acting Sub- Agent 
 
 West End D. B. Macpherson, Sub- Agent 
 
 Westmount H. D. Carr, Acting Sub- Agent 
 
 Windsor Street G. S. A. Oliver, Sub- Agent 
 
 QxmBEC, Que W. M. Bancroft 
 
 [7^1 
 
Branch Manager 
 
 Quebec, Que. 
 
 Upper Town J. A. Gray, Sub-Agent 
 
 St. Roch H. des Rivieres 
 
 Sawyerville, Que O. R. Campbell 
 
 Sherbrooke, Que R. A. E. Aitken 
 
 St. Hyacinthe, Que. L. F. Philie 
 
 Thetford Mines, Que C. J. E. L. Benedict 
 
 Three Rivers, Que J. A. BoisjoH, Acting Manager 
 
 Valcartier Camp L. W. Taylor, Acting Manager 
 
 Bathurst, N.B E. P. Mackay 
 
 Chatham, N.B A. E. Taylor 
 
 Fredericton, N.B G. N. C. Hawkins 
 
 Grand Falls, N.B R.P.Donald 
 
 Hartland, N.B C. S. Baker 
 
 MoNCTON, N.B H.A.Bailey 
 
 Perth, N.B H. L. Alcorn 
 
 Shediac, N.B G. A. White 
 
 St. John, N.B W. J. Ambrose 
 
 Woodstock, N.B E. W. Jarvis 
 
 Amherst, N.S F. J. Naftel 
 
 Bridgewater, N.S C.H.Carter 
 
 Canso, N.S E. R. T. Huestis, Acting Manager 
 
 Glace Bay, N.S H. H. Archibald 
 
 Halifax, N.S i . . . A, E, Nash 
 
 North End E. C. Helsby 
 
 Lunenburg, N.S F. J. McDonald 
 
 Mahone Bay, N.S H. A. Fleury 
 
 Port Hood, N.S A. R. Manning 
 
 Riverport, N.S R. Fleming 
 
 Sydney, N.S A. J. Hollyer 
 
 WoLFViLLE, N.S G. W. Munro 
 
 Yarmouth, N.S T. V. B. Bingay 
 
 Altona, Man J. E. Wright 
 
 Brandon, Man G. P. Worsley 
 
 Calgary, Alta A. M. Peters 
 
 Cardston, Alta D. B. Emeno 
 
 Dauphin, Man F. C. Cummins 
 
 Edmonton, Alta G. S. Hensley 
 
 High River, Alta J. S. Jones 
 
 Indian Head, Sask R. C. Whately 
 
 Lethbridge, Alta G. H. Harman 
 
 Magrath, Alta G. A. G. Geddes 
 
 Medicine Hat, Alta H. C. Francis 
 
 Moose Jaw, Sask E. Duthie 
 
 North Battleford, Sask A. H. Sears, Acting Manager 
 
 Outlook, Sask P. Hood 
 
 Portage la Prairie, Man E. G. W. Bell 
 
 Prince Albert, Sask E. A. Moore 
 
 [73} 
 
Branch Manager 
 
 Raymond, Alta T. Y. Love, Acting Manager 
 
 Red Deer, Alta C. C. Gamble 
 
 Regina, Sask A. F. Angus 
 
 Saskatoon, Sask E. S. Martin 
 
 Swift Current, Sask P. G. Jameson, Prov. Manager 
 
 Weyburn, Sask E. V. Lesslie 
 
 Winnipeg, Man A. F. D. MacGachen 
 
 Fort Rouge, Man F. J. Kelly, Acting Sub-Agent 
 
 Logan Avenue W. H. Chipman, Acting Sub-Agent 
 
 Yorkton, Sask W. H. Tennant 
 
 Armstrong, B.C E.J.White 
 
 Chilliwack, B.C G. O. Nesbitt 
 
 Cloverdale, B.C N. F. Kendall 
 
 Enderby, B.C C. B. Winter 
 
 Greenwood, B.C J. V. Mills 
 
 Kamloops, B.C R. A. Thompson 
 
 Kelowna, B.C P. DuMoulin 
 
 Merritt, B.C S. L. Smith 
 
 Nelson, B.C LeB. B. DeVeber 
 
 New Denver, B.C E. E. L. Dewdney 
 
 New Westminster, B.C C. W. Chesterton 
 
 North Vancouver, B.C F. A. Macrae 
 
 Penticton, B.C H. D. Suckling, Acting Manager 
 
 Port Alberni, B.C .- . . E. S. V. McClintock 
 
 Port Haney, B.C H. G. McCuUough 
 
 Prince Rupert, B.C J. M. Clancy 
 
 Princeton, B.C R. M. Mansfield 
 
 Rossland. B.C G. A. Lafferty 
 
 Summerland, B.C E. B. May 
 
 Trail, B.C G. F. Pritchard, Acting Manager 
 
 Vancouver, B.C W. H. Hogg 
 
 Hastings Street J. Coulthard, Acting Sub-Agent 
 
 Main Street E. H. Grubbe, Sub-Agent 
 
 Prior Street T. H. R. James, Acting Sub- Agent 
 
 Vernon, B.C G. A. Henderson 
 
 Victoria, B.C A. Montizambert 
 
 Curling, Nfld W. H. G. Phipps 
 
 St. John's, Nfld J. A. Paddon 
 
 Grand Falls, Nfld M. A. Johns, Acting Manager 
 
 Charlottetown, P.E.I E. G. Coombs 
 
 London, Eng G. C. Cassels 
 
 9-10 Waterloo Place, Pall Mall . . . D. W. Oliver, Sub-Agent 
 
 fR. Y. Hebden, Agent 
 
 New York, N.Y < W. A. Bog, Agent 
 
 y . T. Molineux, Agent 
 
 Chicago, III W. Turner 
 
 Spokane, Wash W. Dick 
 
 Mexico, D.F H. Weldon 
 
 [74] 
 
GROWTH of the BANK DURING PAST FIFTY YEARS 
 
 1867^1917 
 
 
 Paid-up Capital 
 
 Rest 
 
 Deposits 
 
 Net Profits Dividend 
 
 1867 
 
 $6,000,000 
 
 $1,250,000 
 
 $11,198,831 
 
 $ 906,079 
 
 10% 
 
 1868 
 
 6,000,000 
 
 1,500,000 
 
 12,043,535 
 
 902,410 
 
 10% 
 
 1869 
 
 6,000,000 
 
 2,000,000 
 
 14,424,983 
 
 1,120,979 
 
 11% 
 
 1870 
 
 6,000,000 
 
 3,000,000 
 
 19,972,342 
 
 1,079,926 
 
 12% 
 
 1871 
 
 6,000,000 
 
 3,000,000 
 
 19,122,603 
 
 1,262,352 
 
 12% + bonus 4% 
 
 1872 
 
 7,000,000 
 
 4,000,000 
 
 17,335,769 
 
 1,273,988 
 
 12% + bonus 4% 
 
 1873 
 
 11,000,000 
 
 5,000,000 
 
 13,777,322 
 
 1,820,813 
 
 12% + bonus 4% 
 
 1874 
 
 11,930,335 
 
 4,000,000 
 
 16,231,477 
 
 2,072,540 
 
 12% + bonus 4% 
 
 1875 
 
 11,960,700 
 
 5,500,000 
 
 15,319,023 
 
 1,994,406 
 
 14% 
 
 1876 
 
 11,979,400 
 
 5,500,000 
 
 14,622,615 
 
 1,838,679 
 
 14% 
 
 1877 
 
 11,998,300 
 
 5,500,000 
 
 16,018,575 
 
 1,189,312 
 
 13% 
 
 1878 
 
 11,998,400 
 
 5,500,000 
 
 13,838,994 
 
 1,430,903 
 
 12% 
 
 1879 
 
 11,999,200 
 
 5,000,000 
 
 14,782,158 
 
 611,487 
 
 10% 
 
 1880 
 
 11,999,200 
 
 5,000,000 
 
 22,322,237 
 
 1,049,340 
 
 9% 
 
 1881 
 
 11,999,200 
 
 5,000,000 
 
 18,762,777 
 
 1,452,789 
 
 8% + bonus 2% 
 
 1882 
 
 12,000,000 
 
 5,500,000 
 
 21,115,680 
 
 1,641,256 
 
 9% + bonus 1% 
 
 1883 
 
 12,000,000 
 
 5,750,000 
 
 18,907,150 
 
 1,556,788 
 
 10% 
 
 1884 
 
 12,000,000 
 
 6,000,000 
 
 20,589,690 
 
 1,434,260 
 
 10% 
 
 1885 
 
 12,000,000 
 
 6,000,000 
 
 20,030,216 
 
 1,393,116 
 
 10% + bonus 1% 
 
 1886 
 
 12,000,000 
 
 6,000,000 
 
 22,859,742 
 
 1,465,976 
 
 10% + bonus 1% 
 
 1887 
 
 12,000,000 
 
 6,000,000 
 
 17,324,382 
 
 1,520,195 
 
 10% + bonus 2% 
 
 1888 
 
 12,000,000 
 
 6,000,000 
 
 23,716,305 
 
 1,284,501 
 
 10% 
 
 1889 
 
 12,000,000 
 
 6,000,000 
 
 27,084,187 
 
 1,377,176 
 
 10% 
 
 1890 
 
 12,000,000 
 
 6,000,000 
 
 21,208,400 
 
 1,377,311 
 
 10% 
 
 1891 
 
 12,000,000 
 
 6,000,000 
 
 23,557,449 
 
 844,999 
 
 10% 
 
 1892 
 
 12,000,000 
 
 6,000,000 
 
 26,977,007 
 
 1,325,887 
 
 10% 
 
 1893 
 
 12,000,000 
 
 6,000,000 
 
 27,098,826 
 
 1,325,810 
 
 10% 
 
 1894 
 
 12,000,000 
 
 6,000,000 
 
 29,801,849 
 
 1,313,289 
 
 10% 
 
 1895 
 
 12,000,000 
 
 6,000,000 
 
 34,090,199 
 
 1,210,436 
 
 10% 
 
 1896 
 
 12,000,000 
 
 6,000,000 
 
 32,316,876 
 
 1,241,196 
 
 10% 
 
 1897 
 
 12,000,000 
 
 6,000,000 
 
 40,024,750 
 
 1,230,561 
 
 10% 
 
 1898 
 
 12,000,000 
 
 6,000,000 
 
 40,617,653 
 
 1,265,300 
 
 10% 
 
 1899 
 
 12,000,000 
 
 6,000,000 
 
 46,413,838 
 
 1,350,582 
 
 10% 
 
 1900 
 
 12,000,000 
 
 7,000,000 
 
 52,645,605 
 
 1,524,388 
 
 10% 
 
 1901 
 
 12,000,000 
 
 7,000,000 
 
 72,686,627 
 
 1,537,522 
 
 10% 
 
 1902 
 
 12,000,000 
 
 8,000,000 
 
 86,825,633 
 
 1,601,152 
 
 10% 
 
 1903 
 
 13,379,240 
 
 9,000,000 
 
 93,397,919 
 
 1,813,483 
 
 10% 
 
 1904 
 
 14,000,000 
 
 10,000,000 
 
 94,794,412 
 
 1,609,207 
 
 10% 
 
 1905 
 
 14,000,000 
 
 10,000,000 
 
 101,508,477 
 
 1,638,659 
 
 10% 
 
 1906 
 
 14,400,000 
 
 11,000,000 
 
 129,901,450 
 
 1,797.976 
 
 10% 
 
 1907 
 
 14,400,000 
 
 11,000,000 
 
 126,138,157 
 
 1,980,138 
 
 10% 
 
 1908 
 
 14,400,000 
 
 11,000,000 
 
 130,097,538 
 
 1,957,658 
 
 10% 
 
 1909 
 
 14,400,000 
 
 12,000,000 
 
 170,238,174 
 
 1,826,167 
 
 10% 
 
 1910 
 
 14,400,000 
 
 12,000,000 
 
 194,942,370 
 
 1,797,992 
 
 10% 
 
 1911 
 
 14,887,570 
 
 15,000,000 
 
 181,725,815 
 
 2,276,518 
 
 10% 
 
 1912 
 
 16,000,000 
 
 16,000,000 
 
 187,308,965 
 
 2,518,408 
 
 10% + bonus 2% 
 
 1913 
 
 16,000,000 
 
 16,000,000 
 
 189,572,838 
 
 2,648,402 
 
 10% + bonus 2% 
 
 1914 
 
 16,000,000 
 
 16,000,000 
 
 197,222,674 
 
 2,496,451 
 
 10% + bonus 2% 
 
 1915 
 
 16,000,000 
 
 16,000,000 
 
 236,022,812 
 
 2,108,631 
 
 10% + bonus 2% 
 
 1916 
 
 16,000,000 
 
 16,000,000 
 
 299,206,049 
 
 2,200,471 
 
 10% + bonus 2% 
 
 [75] 
 
3oth April 1917 ^ BANK OF MONTREAL 
 
 LIABILITIES 
 
 Capital Stock $ 16,000,000.00 
 
 Rest $16,000,000.00 
 
 Balance of Profits carried forward 1,557,034.51 
 
 $17,557,034.51 
 
 Unclaimed Dividends 3,126.00 
 
 Quarterly Dividend, payable 1st June, 1917 $400,000.00 
 Bonus of 1% payable 1st June, 1917 . . . 160,000.00 
 
 560,000.00 
 
 18,120,160.51 
 
 $ 34,120,160.51 
 
 Notes of the Bank in circulation $21,891,437.00 
 
 Deposits not bearing interest 91,412,284.99 
 
 Deposits bearing interest, including interest accrued to date 
 
 of statement 232,731,994.44 
 
 Deposits made by and Balances due to other Banks in Can- 
 ada 2,873,064.25 
 
 Balances due to Banks and Banking Correspondents else- 
 where than in Canada 514,708.16 
 
 Bills Payable 475,789.72 
 
 349,899,278.56 
 
 Acceptances under Letters of Credit 2,106,162.49 
 
 Liabilities not included in the foregoing • 681,286.23 
 
 . $386,806,887.79 
 
 [76] 
 
GENERAL STATEMENT / 30th April, 1917 
 
 ASSETS 
 
 Gold and Silver coin current $21,556,501.31 
 
 Dominion notes 30,971,312.25 
 
 Deposit in the Central Gold Reserves 7,000,000.00 
 
 Balances due by Banks and Banking Corres- 
 pondents elsewhere than in Canada . . $23,189,919.58 
 
 Call and Short (not exceeding thirty days) 
 
 Loans in Great Britain and United States 1 14,156,887.75 
 
 137,346,807.33 
 
 Dominion and Provincial Government Securities not ex- 
 ceeding market value 16,273,465.44 
 
 Railway and other Bonds, Debentures and Stocks not ex- 
 ceeding market value 14,722,192.50 
 
 Canadian Municipal Securities, and British, Foreign and 
 
 Colonial Public Securities other than Canadian .... 28,090,026.23 
 
 Notes of other Banks 1,716,821.00 
 
 Cheques on other Banks 12,327,296 33 
 
 $270,004,422.39 
 
 Current Loans and Discounts in Canada (less rebate of 
 
 interest) 91,733,075.26 
 
 Loans to Cities, Towns, M unicipalities and School Districts 1 1 ,380, 1 84.03 
 
 Current Loans and Discounts elsewhere than in Canada 
 
 (less rebate of interest) 6,200,179.16 
 
 Overdue debts, estimated loss provided for 403,853.45 
 
 109,717,291.90 
 
 Bank Premises at not more than cost (less amounts written off) .... 4,000,000.00 
 
 Liabilities of Customers under Letters of Credit (as per Contra) .... 2,106,162.49 
 
 Deposit with the Minister for the purposes of the Circulation Fund . . . 790,000.00 
 
 Other Assets not included in the foregoing 189,011.01 
 
 $386,806,887.79 
 
 Vincent Meredith, President. 
 
 Frederick Williams 'Taylor, General Manager. 
 
 [77] 
 
PRESIDENTS, VICE-PRESIDENTS, CASHIERS 
 
 AND GENERAL MANAGERS 
 
 1817^917 
 
 Presidents 
 
 1817 
 1820 
 1826 
 1826 
 1834 
 1860 
 1869 
 1873 
 1876 
 
 1817 
 1818 
 1819 
 1819 
 1«22 
 1825 
 1826 
 1830 
 1834 
 1847 
 
 John Gray, Esq. 
 Samuel Gerrard, Esq. 
 Horatio Gates, Esq. 
 John Molson, Esq. 
 Hon. Peter McGill 
 T. B. Anderson, Esq. 
 Edwin H. Kino, Esq. 
 David Torrance, Esq. 
 George Stephen, Esq. 
 
 (Lord Mount Stephen, 1891) 
 
 1881 
 1887 
 1905 
 
 1910 
 1913 
 
 C. F. Smithers, Esq. 
 
 Sir Donald A. Smith, K.C.M.G. 
 
 The Right Honourable Lord 
 
 Strathcona and Mount Royal, 
 
 G.C.M.G., G.C.V.O., Hon. Pres. 
 
 Hon. Sir George Drummond, 
 
 K.C.M.G. 
 
 R. B. Angus, Esq. 
 
 H. V. Meredith, Esq. 
 
 (Sir Vincent Meredith, Bart., 1916). 
 
 Vice-Presidents 
 
 Thomas A. Turner, Esq. 
 George Garden, Esq. 
 Charles Bancroft, Esq. 
 George Garden, Esq. 
 Thomas Thain, Esq. 
 Hon. John Forsyth 
 John Fleming, Esq. 
 Hon. Peter McGill 
 Hon. Joseph Masson 
 T. B. Anderson, Esq. 
 
 1860 John Redpath, Esq. 
 1869 Hon. Thomas Ryan 
 1873 George Stephen, Esq. 
 1876 G. W. Campbell, Esq., M.D. 
 1882 Hon. Donald A. Smith 
 1887 George A. Drummond, Esq. 
 1905 E. S. Clouston, Esq. 
 
 (Sir Edward Clouston, Bart, 1908) 
 1912 H. V. Meredith, Esq. 
 1916 C. B. Gordon, Esq. 
 
 (SirCharlesGordon,K.C.B.E.,1917) 
 
 1817 Robert Griffin 
 1827 Benjamin Holmes 
 
 Cashiers 
 
 1846 Alexander Simpson 
 1855 David Davidson 
 
 General "Managers 
 
 1862 David Davidson 
 
 1863 Edwin H. King 
 1869 R. B. Angus 
 1879 C. F. Smithers 
 
 1881 W. J. Buchanan 
 
 1890 E. S. Clouston 
 
 1911 H. V. Meredith 
 
 1913 Sir Frederick Williams -Taylor 
 
 [78] 
 
 I 
 
ORIGINAL SHAREHOLDERS OF THE BANK OF 
 MONTREAL, 1817 
 
 William Allan 
 
 Alexander Auldjo 
 
 Alexander Allison 
 
 Shaw Armour 
 
 Nathan Appleton 
 
 Elizabeth Armour 
 
 Ebenezer T. Andrews 
 
 James Buchanan 
 
 John C. Bush 
 
 Stanley Bagg 
 
 Benjamin Butler 
 
 Josiah Bellows 2nd 
 
 Josiah Bellows 3rd 
 
 Charles Bancroft 
 
 John Bouthillier 
 
 John Charles Bordwine 
 
 George Blumhart 
 
 John Bellows 
 
 Bowman & Smith 
 
 Budge & Penn 
 
 Josiah Bleakley 
 
 Abel Bellows 
 
 John Brown 
 
 Abner Bagg 
 
 Blackwood & Laroque 
 
 Thomas Busby 
 
 Joseph T. Barrett 
 
 Henry Brevoort, Jr. 
 
 Henry Brevoort, Sr. 
 
 William G. Buckner 
 
 Nathan Bridge 
 
 Elizabeth S. Babuty 
 
 Eliza E. Bellows 
 
 John N. Bellows 
 
 Alexander Hamilton Bellows 
 
 Henry W. Bellows 
 
 Edward S. Bellows 
 
 Thomas Bellows 2nd 
 
 Caroline Cox 
 
 Samuel B. Cobb & Co. 
 
 M. C. Cuvillier & Co. 
 
 Austin Cuvillier 
 
 James E. Campbell 
 
 Nicholas Cottrell & Co. 
 
 Thomas Cardis 
 
 William Cochrane 
 
 Henry Carey 
 
 David David 
 
 Henry Drean 
 
 Joseph Donegany 
 
 Jabez D. Dewitt 
 
 Day, Gelston Co. 
 
 Samuel W. Dana 
 
 Samuel B. Dana 
 
 Daniel Donegany 
 
 Edmund Dwight 
 
 John W. Dwight 
 
 Jonathan Dwight 
 
 Wm. H. Dwight 
 
 Fred'k W. Ermatinger 
 
 Charles Oakes Ermatinger 
 
 Otis Everett 
 
 Forsyth, Richardson & Co. 
 
 John Forsyth 
 
 Thomas French 
 
 John Frothingham & Co. 
 
 John Frothingham 
 
 Daniel and John Fisher 
 
 Robert Froste 
 
 Froste & Porter 
 
 John French 
 
 William Finlay 
 
 Gerrard, Gillespie & Co. 
 
 Robert Gillespie 
 
 George Garden 
 
 Horatio Gates 
 
 H. Gates & Nephew 
 
 Henry Griffin 
 
 Henry Grassett 
 
 Isabella Gregory 
 
 John Gray 
 
 Paul Glassford 
 
 Nathaniel Goddard 
 
 Margaretia Gray 
 
 Pierre Guerout 
 
 Clarissa Gates 
 
 David Greenough 
 
 Moses Hart 
 
 Ezekiel Hart 
 
 Joshua Henshaw 
 
 William Johnson Holt 
 
 William Hutchison 
 
 Richard Hate 
 
 Samuel Hate 
 
 Philip Hone 
 
 Wm. Geo. Hepburne 
 
 Daniel Hinsdale 
 
 John Hinsdale 
 
 Joseph Hale, Jr. 
 
 Wm. HoUawell 
 
 Moses I. Hays 
 
 Inglis, Ellice & Co. 
 
 John Jameison 
 
 Hannah Joseph 
 
 Nathan Jones 
 
 Mary Jones 
 
 John Johnston 
 
 Laura Jones 
 
 David T. Kennelly 
 
 George Kimball 
 
 Chas. Kimball 
 
 Laurence Kidd 
 
 James Leslie 
 
 James Logan 
 
 Wm. Lawrence 
 
 Lester, Taylor & Co. 
 
 David Wagstaff 
 
 Laurent Le Roux 
 
 Julia M. Leslie 
 
 John Lilly 
 
 Joseph Lovis 
 
 Joseph T. Laroque 
 
 McTavish,McGillivrays& Co. 
 
 The Hon. Wm. McGillivray 
 
 Simon McGillivray 
 
 John McTavish 
 
 Maitland, Garden & Auldjo 
 
 William Maitland 
 
 James McDouall & Co. 
 
 George Moffatt 
 
 Hugh McAdam 
 
 Catharine McAdam 
 
 Maria Mitchell 
 
 James Millar 
 
 Joseph May 
 
 C79] 
 
Samuel May 
 James Milne 
 David Manning 
 John McDonald 
 John Townsend McCoun 
 John McNaught 
 Henry Mackenzie 
 Josiah Marshall 
 Ezra Meech 
 Nichols & Sanford 
 William Northage & Co. 
 John Ogilvy 
 Otis & Swan 
 William Pedman Ord 
 Harrison Gray Otis, Sr. 
 Harrison Gray Otis, Jr. 
 Samuel Pomroy 
 Wm. McNish Porter 
 John Pickel, Sr. 
 John Pickel, Jr. 
 Thomas & John Porteous 
 Thomas Porteous 
 Wm. & S. Peddie 
 Thomas & Wm. Proctor 
 Prime, Ward & Sands 
 Jesse Putnam 
 Toussaint Pothier 
 Cornelius Peck 
 
 Maria Peck 
 
 John Purple 
 
 Daniel P. Parker 
 
 William Payne 
 
 Wm. Payne & Co, 
 
 William Porteous 
 
 L. P. Parker 
 
 Mary Parker 
 
 Richard Pattinson 
 
 Richard Pattinson, Jr. 
 
 Mary A. Pattinson 
 
 Ellen P. Pattinson 
 
 The Hon. John Richardson 
 
 David Ross 
 
 Arthur Ross 
 
 George Pownall Ross 
 
 John Ross 
 
 David Alexander Ross 
 
 Jean Baptiste Raymond 
 
 Henry Gardner Rice 
 
 James Renwick 
 
 Samuel B. Rice 
 
 John Seybold 
 
 George Selby 
 
 William Selby 
 
 Ephraim Sanford 
 
 Eliza Smith 
 
 Chas. Dixie Shakleton 
 
 Daniel Sutherland 
 David Stone 
 The Rev. John Strachan 
 Jonas E. Stone 
 Henry B. Stone 
 Charles Stuart 
 Peter Sheaver 
 Jasper Tough 
 Thomas Thain 
 Thomas A. Turner 
 Alexander Thain 
 Thomas Torrance 
 Zabdiel Thayer 
 Benjamin Tremain 
 Donald Taylor 
 Benjamin Throop 
 Edwin Thayer 
 Upham & Faulkner 
 Foster Weeks 
 Arthur Webster 
 James Woolwrich 
 Benjamin Whitney 
 Guy C. Wood 
 Samuel Wood 
 Oliver C. Wyman 
 John Whitton and 
 William Walker 
 
 [80] 
 
VIEW OF OLD AND NEW BUILDINGS OF BANK 
 
 The above is a reproduction of a picture showing (on the extreme 
 left) the first building owned by the Bank of Montreal and occupied as 
 its headquarters 1819 to 1848. This building was sold to the Banque 
 du Peuple in 1847, and afterwards demolished to make way for the 
 present Montreal General Post Office. 
 
 Next to it is the Bank's present building as it appeared before it 
 was remodelled. The fagade of the original structure, however, has 
 never been altered. 
 
HONOUR ROLL 
 
 ACTIVE SERVICE LIST TO 3OTH SEPTEMBER, I917 
 
 DECORATIONS— Distinguished Service Order 1 CASUALTIES— KUled 94 
 
 Military Cross ... 13 Wounded 117 
 
 Bar to M.C 1 Missing 1 
 
 Military Medal ... 4 Prisoners 9 
 
 Mentioned in Despatches 4 -— — 
 
 221 
 TOTAL ENLISTMENTS 810 = 
 
 + Killed. (g) Wounded. A Missing. (g) Prisoner of War. (S) United States Forces. 
 
 (§) Returned to Bank's Service. 
 
 Name and Rank Branch Regiment 
 
 (g)ABBOTT, A. J London, Eng 
 
 AcHESON.A. J.,Bombr. . . New Westminster . . . 68th Battery, C.F.A. 
 
 AcKMAN, E. M., Trooper. . Toronto Royal Canadian Dragoons 
 
 Adams, G. S London, Eng 
 
 +ADAMSON, M. L,, Lieut. . . Port Haney 10th Royal Irish Rangers 
 
 Agur, p. B., Private . . . Summerland 11th Canadian Mounted Rifles 
 
 AlKMAN, R. E., Gunner . . Montreal 2nd Can. Div. Ammunition Col. 
 
 ®Aitken,A.J.C., Gunner. . London, Eng Royal Garrison Artillery 
 
 Aldrich, A. C.W., Gunner. Almonte 73rd Battery, C.F.A. 
 
 Alford, T. P Prince Albert .... 
 
 Allan, A. E., Corporal . . Guelph Canadian Army Service Corps 
 
 ©Allan, R. J., Lieut., (JW.Jlf.) Queen St., Toronto . . 15th Battalion 
 
 Allison, W. R., Gunner . . Port Coquitlam .... 68th Field Artillery 
 
 Alliston, T. J., Sergt. . . Winnipeg 
 
 Almon, E. B., Sub-Lieut. . Windsor St., Montreal . Royal Naval Motor Boat Patrol 
 
 ®®Anderson, G. M. G., Sergt. Montreal 68th Field Artillery 
 
 Andrews, J. B., Corp. . . . Quebec 171st Battalion 
 
 ® Annandale, A. L Cloverdale 231st Battalion 
 
 Appleton, a. W., Capt. . . Brantford 13th Battalion 
 
 Arnold, F. J., Lieut. . . . London, Eng 
 
 Arnot, W. M., 2nd Lieut. . London, Eng Royal Flying Corps 
 
 Arundell, W. R. H . . . . Regina 
 
 +AsHCROFT, L. E., Lieut. . . Vernon 103rd Battalion 
 
 +®®Asker,A.H., 2nd Lieut.. . London, Eng 6th Essex Regiment 
 
 ®AwTY, M.M.,Corp Newmarket 220th Battalion 
 
 Babin, H. p., Sergt Penticton S4th Battalion 
 
 Back, A., Corp London, Eng Royal West Kents 
 
 Bagnall,W., Lieut. . . . Yarmouth Sth Battery 
 
 ®Bailes, W. G. R., 2nd Lieut. London, Eng Royal Flying Corps 
 
 Bailly, D. B., Corp. . . . Montreal 244th Battery 
 
 ®Baird, A. B., 2nd Lieut. . . St. John's, Nfld 1st Nfld. Regiment 
 
 Baker, O Winnipeg 
 
 Baldwin, P. T., Gunner . . Regina 2nd Reserve Battery, C.F.A. 
 
 Ballance, L. E Sherbrooke 
 
 Bamber, G. H., Lieut . . . London, Eng Royal Garrison Artillery 
 
 Bancroft, M. T., Gunner . Montreal 1st Reserve Battery, C.F.A. 
 
 Banfield, W. B., Lieut. . . Winnipeg 190th Battalion, C.F.A. 
 
 Banning, J. H., Private . . Montreal Canadian Engineers Tel. Corps 
 
 +BARKER, D.J. , Lieut. . . . Head Office 87th Battalion 
 
 Barker, G. H London, Eng Durham Light Infantry 
 
 Barlow, J. U., Private. . . London, Ont No. 2 Field Ambulance Army 
 
 Medical Corps 
 
 [8j] 
 
Name and Rank Branch Regiment 
 
 ®Barnes, R. H., Lance-Corp, Edmonton 
 
 Barnum, J.B. M., Lieut. . Summerland B/47th Brigade, R.F.A. 
 
 +BARRETT, C. R., 2nd Lieut. Winnipeg B/I72nd R.F.A. 
 
 Barrie.T.B., Lieut., 3f.C. 
 
 and Bar Vancouver 72nd Seaforth Highlanders 
 
 Barry, J., Sapper .... Vancouver Headquarters R.C.E. 5 
 
 Basham, C. F. T., Private . Montreal Royal Canadian Engineers 
 
 Bate, N. H., Private . . . Port Alberni Headquarters 12th Brigade 
 
 Baum, W. J., Private . . . Armstrong Canadian Signalling Corps 
 
 Baxter, R. T., Gunner . . North End, Halifax . 97th Canadian Siege Battery 
 
 Beadle, H. G London, Eng 
 
 +BEARDSWORTH, R. J.,Sergt. Regina 
 
 Beer, C. A., Gunner . . . Charlottetown .... 5th Canadian Siege Battery 
 
 ®Beer,L.L., Gunner. . . . St. Catharines .... 10th Battery 
 Beeston, G. N., Private . Waterloo Place .... 
 
 Bell, A. C . . New Westminster . . . 
 
 (g)BELL, J London, Eng Royal Navy 
 
 Bennett, R. O. G., Lieut., 
 
 M.C. Lumby 2nd Canadian Mounted Rifles 
 
 Benson, A. LH.,Sergt. . . Montreal Canadian Record Office 
 
 Benson, U. W. K Regina 
 
 +BENSON, W. R. G., 2nd Lieut. Montreal 2nd South Staffordshire Reg. 
 
 Beveridge, J.F.,Lieut . . Saskatoon ...... 3rd Lancashire Regiment 
 
 Beveridge, L. C. T.,Gn'r. . Montreal Royal Canadian Horse Artillery 
 
 Beyer, E. T., Gunner . . . Hull 77th Queen's Battery 
 
 Bibbs, O.G. ...".... Lumby 
 
 BiDDULPH, H.W., Gunner . Welland ...... 31st Battery, C.F. A 
 
 BiNET, C. E., Lieut. . . . Moncton 9th Voltigeurs 
 
 BiRCHARD, P. V Montreal 
 
 Blackaby, G. R. S., Private Kelowna D. Section, Machine Gun Co., 
 
 2nd Brigade 
 
 Blackmore, A. C.,Lieut. . Montreal 257th Railway Constr. Battalion 
 
 Blanchet, A. M.,Lieut. . Valcartier Camp . . . 
 
 Bleau, A. D., Private . . . Danville 117th Battalion 
 
 Blyde, L.J. N., Lieut . . . Montreal Berkshire Yeomanry 
 
 Boa, W. a.. Private . . . London, Eng E.A.P.C., British East Africa 
 
 Bode, H. F. M.E Winnipeg 190th Battalion 
 
 +® Body, H., Private North Battleford . . . Princess Patricia's C.L.L 
 
 BoEHM.W.R., Lieut . . . Toronto ........ 169th Battalion 
 
 BoLDRiCK, C. C Chilliwack Army Service Corps 
 
 (g)B0LGER, A. E., Gunner. . . Kingston 
 
 +BOND, F.H. B. ,2nd Lieut. . Carlton St., Toronto. . 122nd Battery, R.F.A. 
 
 Bone, F., Private .... Chatham, Ont 186th Battalion 
 
 Booth, H. S London, Eng Royal Navy 
 
 ®Boughey, A. E. F., Lieut. . Montreal 8th (Service) Battalion 
 
 Bourque, A. J.,Gunner . . Montreal 1st Reserve Battery, C.F.A. 
 
 Bowie, G. G., Lieut. . . . Ottawa 154th Battalion 
 
 Bowie, R. A., 2nd Lieut. . Rossland 4th T.F. (Reserve) Battalion, 
 
 Leicestershire Regiment 
 
 ©Bowles, R. F., Private . . London, Eng Royal Naval Volunteer Reserve 
 
 Bowman, J. D London, Eng Royal Rifle Brigade 
 
 (DBoyd, L. L Quebec United States Navy 
 
 Bradley, D., Corporal .. . St.John, N.B 7th Can. Inf. Brigade Bombers 
 
 ®®Bradshaw-Smith, B., Sergt. Calgary 10th Canadian Battalion 
 
 [84] 
 
THE BANK'S ROYAL CHARTER 
 
 The original Royal Charter of the Bank of Montreal is well preserved 
 in the Bank's museum. It is a parchment document of five pages 
 measuring 20 ins. by 28 ins. each. As pictured above, the four top 
 pages are folded down to disclose the seal of His Majesty William IV 
 by whose assent the charter was granted. 
 
 It is interesting to note that the Royal seal contains nearly a pound 
 of wax attached to the document by a silk cord and enclosed in a tin 
 box to prevent injury. 
 
Name and Rank Branch Regiment 
 
 +BRAIN, J. A. L.,Lieut.. . . Victoria Norfolk Regiment 
 
 Brand, W London, Eng Royal Naval Air Service 
 
 Brander, L. S Montreal Royal Naval Air Service 
 
 Bray, H. A. A., Lieut. . . Dauphin Royal Canadian Dragoons 
 
 Brett, A. G. H., Sub-Lieut. London, Eng 
 
 Bridge, J. B Regina 
 
 Briggs, T. W., Private . . Grand Mere 14th Battalion 
 
 Brimacombe, V. C, Lieut. . Port Haney 102nd Battalion 
 
 Britten, J. F., Private . . Vancouver 29th Battalion, C.E.F. 
 
 Brock, D. E., Private . . Waterloo Place, Eng. . 
 
 Brookes, J. H., Private . . Moncton, N.B 55th New Brunswick Battalion 
 
 ®Brough, W. S. C Vancouver 231st Battalion 
 
 +BROWN, E.G., Lieut. . . . St. John, N.B Royal Flying Corps 
 
 ®Brown, E. M Winnipeg 
 
 Brown, G. B Ottawa 
 
 ®Brown,R.H., Lieut. . . . Quebec 136th Battalion 
 
 ®®Bruce, C. K., 2nd Lieut. . London, Eng 11th Rifle Brigade 
 
 +BRYAN, G., Private .... Winnipeg 25th Battalion 
 
 Buchanan, H. D., Gunner . Montreal 7th Battery, Royal Canadian 
 
 Horse Artillery 
 
 +Buchanan, J. J., Private . Buckingham Divisional Cycle Corps 
 
 ®Bullick, R., Corporal . . , Bleury St., Montreal . 
 
 Burman, J., Private. . . . Princeton 48th Battalion 
 
 Burnett, G. F., Gunner . Toronto 9th Field Battery, R.C.A. 
 
 <g)BuRTON, J.D.,Sergt. . . . Yarmouth 
 
 Bush, F.J. C London, Eng Royal Navy 
 
 Bush, O. H Magog 
 
 Butler, W. C, Lieut. . . . Prince Rupert .... Canadian Siege Artillery 
 
 ®Caillard, H. J. E., Private. Peterborough .... 2nd Battalion 
 
 ©Caldwell, K Newmarket 220th Battalion 
 
 Callahan, W. C, Private . London, Eng 
 
 Calvin, H. A., Sub-Lieut. . Halifax Royal Naval Volunteer Reserve 
 
 ©Cameron, J. A Toronto Royal Naval Air Service 
 
 Campbell, A. B. D., Gn'r . Winnipeg 78th Depot Battery 
 
 ©Campbell, D. A., Gunner . Fredericton Can. Pay Office, G.H.Q., Rouen 
 
 Carling,W. H., Lieut., Af.C. London, Ont 26th Battalion 
 
 Carmichael, D. M., 2nd 
 
 Lieut Halifax 64th Brigade, R.F.A. 
 
 Carmichael, G., Corp. . . New Westminster . . 7th Battalion 
 
 +CARPENTER, F. H. G., Serg't New Westminster . . 47th Battalion 
 
 Carrier, M. A., Lieut. .. . Levis 
 
 +CARROLL, H. Y., Lieut. . . Montreal 87th Battalion 
 
 +CARRUTHERS, W K. ... Calgary 
 
 ®Carter, F. B., Lieut. . . . Toronto 123rd Battalion 
 
 ♦Carter, R. S., Lieut. . . . Picton 
 
 Gary, A. E. F., 2nd Lieut. . Winnipeg 100th Battalion 
 
 Casement, C. W., Sapper . Calgary 
 
 Cave-Brown-Cave, C. C, 
 
 Private Rossland 196th Western Universities Bn. 
 
 +CHAESE, F. S., Sergt .... Montreal 24th Battalion 
 
 ®Chappelow, E. p.. Private . Lethbridge 10th Battalion 
 
 Charlton, H. O., Lieut. . . Montreal 79th Battery 
 
 [87] 
 
Name and Rank Branch Regiment 
 
 ®®Christie, T. D. M., Lieut. . Vancouver 72nd Seaforth Highlanders 
 
 (DClark, R.A New York U.S. Forces 
 
 Clay, H. B., Gunner . . . Montreal 7th Artillery Brigade, C.F.A. 
 
 +CLAYTON, A. G., Private . . Saskatoon Princess Patricia's C.L.I. 
 
 ®Cleave,J.C.T., Lieut. . . London, Eng Indian Army 
 
 Clements, R.N. , Lieut. . Yarmouth 25th Battalion 
 
 +Clery, J.C. L.,2nd Lieut. . London, Eng 78th Brigade, R.F.A. 
 
 <g)CLiFT,J.,Lieut St. John's, Nfld . . . . 1st Newfoundland Regiment 
 
 CoBURNjF. A., Private . . Fredericton No. 8 Field Ambulance, A.M. C. 
 
 Cochrane, E.S Quebec 
 
 CocKBURN, F. J., Jr., Lieut. Westmount, Montreal . Royal Canadian Regiment 
 
 Colchester, W. M Altona 59th Battery, C.F.A. 
 
 Collas, H.L. J.,Lieut. . . Summerland ..... 1st South Staffordshires B.E.F, 
 
 CoLLEY,G., Private. . . . Halifax 85th Battalion 
 
 Collins, F. G London, Eng 
 
 (|)®CoLLisoN, L., Private . . . Merritt 5th Battalion 
 
 CoLViLLE,C. P.,Lieut. . . Head Office 3rd Can. Div. Sup. Col., B.E.F. 
 
 CoNNELLAN, G.,Bombr. . . Montreal 1st Kent Battery, R.F.A. 
 
 Connelly, P. C, Private . Amherst 1st Canadian Command Depot 
 
 Cooper, A., Gunner . . . Toronto 67th Battery 
 
 Cooper, T. C Montreal 3rd Siege Battery 
 
 CoRKUM,W.H Wolfville 25th Battalion 
 
 CoRNTHWAiTE, R., Corp . . Sudbury 227th Battalion 
 
 CoRPE, E. H., Gunner . . . Vancouver Draft 68th Battery, C.F.A. 
 
 Cote, J. R Peterborough Royal Naval Air Service 
 
 Cottier, T. E., Pay.-Sgt. . Chatham, Ont .... 186th Battalion 
 
 CoTTRELL, L. W., Private . Peterborough .... 27th London Reg., Artists Rifles 
 
 CoTTRELL, R., Lieut. . . . Brantford 215th Battalion 
 
 CowiE, J. A., Private 
 Craig, T. H., Lieut. . 
 Crane, G.P .... 
 ®Creighton, W. R., Capt 
 
 Canso 85th Battalion 
 
 Montreal 52 nd Battalion 
 
 Waterloo Place .... 
 
 Head Office 60th Battalion 
 
 ®Crichton, D.J. McC.MacK. London, Eng Seaforth Highlanders 
 
 Crickmore, E. B., Lieut. . Toronto 1st Officer Cadet Battalion 
 
 Crombie, W. S., 2nd Lieut. Montreal 113th R.F.A. 
 
 <g)CROWE, W. O., Fit. Sub-Lt. Raymond Royal Flying Corps 
 
 Dagger, F.G Parkdale, Toronto . . . 
 
 Dall, A Saskatoon 
 
 +DANIEL, R. H. H., Sergt . . Montreal 244th Battalion 
 
 ®Dansereau, H., Capt. . . . Valcartier Camp . . . 22nd Battalion 
 
 Darley, R. a. B Montreal Pay and Record Office 
 
 Davenport, V Winnipeg Imperial Flying Corps 
 
 Davidson, C.S., Private. . Kitchener 118th Battalion 
 
 +Davidson, W.J. , Private . Vancouver 7th Battalion Canadians 
 
 Davison, G. S., Gunner . . Montreal McGill Heavy Battery 
 
 Dawe,G. H. ,2nd Lieut. . . London, Eng 
 
 Day, C. F., Gunner .... Stirling 1st Canadian Heavy Battery 
 
 Delay, A. R Spokane 
 
 Dempster, E.N., 2nd Lieut. Fort William Machine Gun Corps 
 
 Denison,G.C., Sub-Lieut. Quebec Royal Naval Volunteer Reserve 
 
 DENOVAN,J.G.,Lieut. . . Waterford 133rd Norfolk Battalion 
 
 Denton, I. H Athalmer 11th Battalion C.M.R. 
 
 [88] 
 
Name and Rank Branch Regiment 
 
 Depencier,N.G., Lieut. . Sault Ste. Marie . . . . 119th Battalion 
 
 Deveber.L.S., Lieut . . . Nelson 191st Battalion 
 
 Devenny, F. a. H . . . . Fredericton 
 
 De Wolfe, T. A. S., Private Halifax 85th Battalion 
 
 Diamond, W. S., Private . . Collingwood 157th Battalion 
 
 DiMOCK,J.E.,Lieut. . . . Yonge St., Toronto . . 124th Battalion 
 
 Dix, F. W.W Montreal McGill Siege Artillery 
 
 Dobbie, J, S., Private . . . Port Albemi 48th Battalion 
 
 DoBBiE, W. H.,Capt. . . . Shediac 1st Canadian Siege Battery 
 
 Douglas, W.H.T,, Private Toronto 1st Sec. 3rd Can. Div. Am. Col. 
 
 DouLL, A. K., Bomber. . . Glace Bay 2ndHeavy Battery and Am. Col. 
 
 DowKER, G. L., Gunner . . Ste. Anne de Bellevue . Royal Canadian Horse Artillery 
 
 Downing, P. G., Corp. . . Sydney 11th Brigade Machine Gun Co. 
 
 Downing, W. A. L Indian Head 77th Canadian Field Artillery 
 
 +Drake,H. A.,Lance-Corp. London, Eng Queen Victoria Rifles 
 
 <g)DRYSDALE, G. O., Private . Ottawa 8th Canadian Mounted Rifles 
 
 Duder, F. E Montreal Reinforcement Co. P.P.C.L.L 
 
 Duke, H. H., Private . . . Guelph Canadian Army Service Corps 
 
 ®Earle, G. L., Lieut Montreal 13th Battalion 
 
 Easton, G. C, Capt. . . . Fort Rouge, Winnipeg . Royal Flying Corps 
 
 Edgell, R. H Athalmer 
 
 Edmond,J.E Ottawa Royal Navy 
 
 Eldridge, R. G., Private. . Moose Jaw 
 
 +Eliot,L.H., Lieut Hamilton 76th Battalion 
 
 (g)ELLWOOD, W. J. H., Lieut., 
 
 M.C Head Office 7th Canadian Field Artillery 
 
 ®Emmett, A. A.,Lieut. . . . West End, Montreal . . 42nd Battalion 
 
 Erb, H. R., Driver .... Vancouver 46th Battery, C.F.A. 
 
 Evans, G. R., Lieut. ... St. John's, Nfld 1/7 Royal Welsh Fusiliers 
 
 Everett, H Summerland 172nd Regiment C.A.M.C. 
 
 ®Fabian, E. F., 2nd Lieut. . London, End 3rd Dorset Regiment 
 
 Farrell, B London, Eng 
 
 Farrow, G.M., Corp. . . . St. Mary's 173rd Battalion 
 
 Fellowes, G. a., Capt. . . Toronto 83rd Battalion 
 
 (g)FERRiE,G.C., Lieut. . . . Vancouver 86th Machine Gun Battalion 
 
 ®®FiELD, A. F., Sergt Peterborough .... 2nd Battalion 
 
 Field, E. C North End, Halifax . . Halifax No. 10 Siege Battery 
 
 FiELD,G.H.W., Private. . Peterborough 39th Battalion 
 
 Fitzgerald, G.L., Private. Peterborough 238 Forestry Battalion 
 
 Flemington, C. B Fredericton 
 
 Flesher, F. P. G Cloverdale 72nd Battalion 
 
 (g)FLETCHER,C.H.F., Lieut. . Toronto Machine Gun Section, 126th Bn. 
 
 Fletcher, H. L., Private. . Kamloops 62nd Battalion 
 
 Fletcher, R. A., Trooper . Chicago Fort Garry Horse 
 
 Flett, a. p.. Private . . . Amherst 193rd Battalion 
 
 ©Flood, J. A., Private 
 (g)FoRBES, J.,Lieut. . . 
 
 Forbes, N., Private . 
 
 Ford, F.J. , Private . 
 
 Ford, N. L., Trooper 
 
 Forrest, D. E. . . . 
 
 Port Coquitlam . . . 7th Battery Canadians 
 New Westminster . . . 54th Battalion 
 
 Spokane 7th Battalion Canadians 
 
 London, Eng London Regiment (Salonica) 
 
 London, Eng Surrey Yeomanry (Macedonia) 
 
 Vancouver 
 
 [89} 
 
Name and Rank Branch Regiment 
 
 FoRSYTHE, A. T., Lieut. . . Winnipeg 37th Overseas Battery 
 
 CoUingwood 120th Battalion 
 
 Winnipeg Paymaster's Office, Winnipeg 
 
 Guelph 82nd Howitzer Brigade, C.F.A. 
 
 Vancouver, Supt. Dept . 72nd Seaforth Highlanders 
 
 Stirling 27th Battery, C.F.A. 
 
 Winnipeg 16th Battalion 
 
 FoRTYE, W. T., Capt. 
 
 Foster, G.S 
 
 ■(giFowKE, R. D., Gunner 
 +Fraser, a. B . , Lieut. . 
 
 Fraser, D. T., Gunner 
 <g)FRASER,F.J.,Sergt. . 
 
 FROST,T.A.,Q.M.-Sergt. . Guelph 153rd Battalion 
 
 GALWEY-FoLEY,P.N.B.,Tpr.London, Eng King Edward's Horse 
 
 Gardiner, A. E., Private . Peterborough .... 93rd Battalion 
 
 Gardiner, C. H., Private . Prince Albert .... 203rd Battalion 
 
 Gardner, G.S Waterloo Place. . . . 
 
 Geary, G.G., Corp . . . . Brandon 187th Battalion 
 
 <g)GENET,J.E.,Lieut.,ilf.C. . Brantford 2nd Di v. Signal Corps 
 
 +GiBAUT,A. P.,Lieut. . . . Quebec 12th Battalion 
 
 <g)GiBBONs, H. A., Private . . Calgary 50th Battalion 
 
 Gibson, C London, Eng 
 
 Gilbert, T. D Moncton 244th Battalion 
 
 GiLLiNGHAM,L.E Calgary Royal Flying Corps 
 
 <g)GLASSEY,S.D., Private . . Lethbridge 13th Mounted Rifles 
 
 +GLEAVE, J. H.N., Private . Vancouver 
 
 Glenn, A. C, Private. . . Bridgewater 219th Battalion 
 
 +GoDARD,A. E.G., Private . Moncton 25th Battalion 
 
 Godfrey, O. P., Sub-Lieut. London, Eng Asst. Paymaster, Royal Navy 
 
 Goldby,H.L., 2nd Lieut. . Waterloo Place . . . . London Regiment, Salonica 
 
 Good, J Vernon 
 
 Goodchild,A.G Montreal 
 
 GooDE.G. B London, Eng 
 
 Goodman, F.L Winnipeg, Man Royal Flying Corps 
 
 Gordon, J. F., Private. . . Kamloops 24th Reserve Battalion 
 
 Gordon, J. P Calgary 
 
 +GoRMAN,C.F.O., Gunner . Montreal Royal Canadian Horse Artillery 
 
 Gosling, O. P., Driver. . . Portage la Prairie . . . 60th Battery 
 
 Graisley,W. M ..... Hamilton 120th Battalion 
 
 Granger, G.G Port Haney Reinforcements P.P.C. L.I. 
 
 Grant, B Cornwall 51st Battery, C.F.A. 
 
 Grant, D.M., Lieut. . . . Victoria ....... 15th Battalion 
 
 Grant, J. M., Private . . . London, Eng R.A. Medical Corps (Egypt) 
 
 ®GRAY,A.,Lieut Armstrong 72nd Battalion 
 
 Gray, W., Sergeant . . . Peterborough .... 74th Battery 
 
 Greame, H. C Calgary 
 
 Griffin, G.J Peterborough .... 
 
 ©Griffiths, A., Corp London, Eng 117 Essex Regiment 
 
 Grinter,W.E., Sub-Lieut. Montreal Royal Naval Motor Patrol 
 
 ®Grove, A, D. ,2nd Lt., Af.C. London, Eng Duke of Cornwall's Light Inf. 
 
 Grundy, R. M., 2nd Lieut . Waterloo Place, Eng . . 
 
 GuNN, J.,Sergt Port Arthur 3rd Echelon Gen. Hdqrs., France 
 
 Habgood, J. M.G.,L.-Corp. London, Eng Army Pay Corps 
 
 +Haines, E. H., Private . . Montreal Canadian Army Medical Corps, 
 
 Sanitary Section 
 
 Hall, A. T Merritt Forestry Battalion 
 
 [90] 
 
Name and Rank Branch Regiment 
 
 Hall, C.E.R., Private . . Summerland 2nd Canadian Mounted Rifles 
 
 ®HALL,E.V.,Lieut West End, Montreal . . 87th Battalion 
 
 Hall, H. F., Major, Jf.C . Quebec HeadquartersStaff, 12th Brigade 
 
 Hall, R.W., Lieut Brantford 215th Battalion 
 
 ®Hallsmith, E. M., Corp. . Regina 1st Battalion, Can. Mtd. Rifles 
 
 Hamer, D. L Cornwall 154th Battalion 
 
 (©Hamilton, A. P., 2nd Lieut. West End, MontreaL . 11th Battalion, Cheshire Regt. 
 
 Hamilton, C. M. v., Capt.. Kingston Military Pay Office, M.D. 3 
 
 Hamley, C.T., Lieut. . . . Picton 155th Battalion 
 
 Hammond,F.D. M., Lieut . Kingston 77th Overseas Battalion 
 
 Hanchard, H. F Brantford 3rd Battalion London Irish Rifles 
 
 Hanks, E. H., Major , . . London, Eng 17th Battalion, London Regt. 
 
 Hanlon,S., Private. . . . Main St., Vancouver. . Hdqtrs. Staff, 8th Bgd., C.F.A. 
 
 +Hards,B., Private .... West End, Montreal . . 24th Battalion 
 
 Harley,E.B., Lieut. . . . Halifax 66th Regiment 
 
 ®Harper, a. D., Capt. . . . Belleville 50th Battalion 
 
 +HARPER, J.A.,Capt. . . . New Westminster . . . Special Draft, 47th Battalion 
 
 +®Harris, C. L., Capt. . . . ChilHwack 7th Battalion 
 
 +HARRis,S.,Sergt Winnipeg 8th Battalion 
 
 Harston,W.H. ,2nd Lieut. London, Eng 
 
 +Hart,K.C., Private . . . New Westminster . . . 7th Battalion 
 
 Harvey, C. E., Capt. . . .St. Catharines .... Base Depot, Havre 
 
 ©Harvey, J. B.B., Lieut. . . Montreal 134th Battalion 
 
 Harwood, J. E., Private. . Port Hope 39th Battalion 
 
 ©Haskell, A. J. L Ottawa 
 
 Hatton.E. R. A Indian Head 10th Canadian Mounted Rifles 
 
 Haworth, L. H Fort William Divisional Signalling Corps 
 
 Hay, C.B., Private . . . . Ottawa A.S.C. Training Depot 
 
 Haylock, W. H London, Eng 
 
 Hazell,S.G., Lieut. . . . Carlton St., Toronto. . 213th Battalion 
 
 Heeney, B. a Calgary 
 
 Hegan, L. A Glace Bay Headquarters Staff, Can. Bri- 
 gade Siege Artillery 
 
 Helbert, L. A. C.,Lieut. . Winnipeg Balloon Section 
 
 Henderson, E. A., Lieut. . Vernon 88th Battalion 
 
 ®Heneker, H. T., 2nd Lieut. West End, Montreal . . 15th Trench Mortar Battery 
 
 Henshaw,G., Private. . . Winnipeg 
 
 Herriot.W. A., Private. . Schreiber 171st Battalion, Mach. Gun Sec. 
 
 Hervey,G. E., Fit. Lieut . . High River 22nd Wing, Royal Flying Corps 
 
 Heward, W. F Ottawa Can. Divisional Signallers 
 
 Hewton, J. A., Signaller. . Trenton S2nd Battery, C.F.A. 
 
 Hick, J. L., Private . . . Chatham, N.B 
 
 Hick, W.W , Chatham, N.B 236th Battalion 
 
 Hicks, L. A Victoria 12th Canadian Mach. Gun Co. 
 
 Hillary, F.W., Private . . Montreal 5th Reserve Battery 
 
 ®HiNCHLiFFE,J.E.,Corp. . . ChilHwack 7th Battalion 
 
 ®HoAG, E. S., Lieut Ottawa 11th Bdg., Trench Mortar Batt. 
 
 HoAG,W. R Montreal McGill Siege Artillery 
 
 Hocking,}. H., Private . . Fort William Can. Eng. Training Depot 
 
 +HoDGSON,G. M Maisonneuve, Montreal Reinforcements, P.P.C.L.I. 
 
 ®HoGG,J.C.,Lieut Victoria 
 
 Holcombe,C. H Montreal Royal Flying Corps 
 
 Hollow AY, R.M., Private. Victoria 48th Battalion 
 
 [91] 
 
Name and Rank Branch Regiment 
 
 HoLLYER,E.L.,Lance-Corp. Sydney Reserve Cyclist Corps 
 
 ®HooD, E.J. (Private. . . . Moose Jaw 5th Battalion 
 
 ®HooPER, D.B Chatham, N.B 
 
 Hooper, F.W Winnipeg 
 
 Hopkins, W.R., Private. . Fenelon Falls 252nd Battalion 
 
 HuBBS, W. S Hamilton Motor Boat Patrol 
 
 Hudson, H., Co. Sgt.-Major Montreal 73rd Battalion 
 
 ®HuDSON, H. L., Private . . Port Coquitlam . . . . 196th West. Univ. Battalion 
 
 Hughes, H.W London, Eng 2/6 Durham Light Infantry 
 
 Hughes, P., Private. . . . Toronto 3rd Can. Div. Amm. Col. 
 
 Hull, A. H., Private . . . Winnipeg 46th Battalion 
 
 HuMPHREY.J. A., Private . Guelph 87th Battalion 
 
 ©Humphreys, D. D'H. Troop. Victoria 1st Brigade, Can. Mtd. Rifles 
 
 Humphries, S. W Regina 
 
 Hunt, J. L. ,2nd Lieut. . . London, Eng London Regiment 
 
 HuNTON,L. E Montreal Wireless Operator in Navy 
 
 Hurst, F. W Waterloo Place .... 
 
 Hurst, S.W Victoria Clerical Staff , C.O.C. 
 
 Husbands, W.E Montreal Can. Divl. Signal Co., C.E.T.D. 
 
 Hutchinson, J. D.H. . . . Ottawa 72nd Batttery, C.F.A. 
 
 Huxter, R.W., 2nd Lieut.. London, Eng 
 
 +Imrie, W. J.,Lance-Corp. . Medicine Hat 31st Battalion 
 
 +INGERSOLL, J. H., 2nd Lieut. North Battleford . . . Lincolnshires 
 
 Inglis, R.Y., Lieut . . . . Toronto 92nd Battalion. 
 
 ®Ingraham, R.E., Lieut . . New Westminster . . . S4th Battalion 
 
 Ingr.\ham,R.E. ,2nd Lieut. Guelph 77th Howitzer Brigade, R.F.A. 
 
 Innous, L. F., Lieut . . . . Waterloo Place, Eng . . 
 
 Irving, G. W., Lieut. . . . Winnipeg Royal Flying Corps 
 
 Irwin, L.J. O., Private . . High River 46th Battalion 
 
 Jackson, G.R., Private . . Montreal 148th Battalion 
 
 Jacques, E.J Saskatoon I mp)erial Royal Flying Corps 
 
 Jakeman,H Regina 38th Field Battery 
 
 Jamer, R Perth, N.B 9th Siege Battery 
 
 James, J. L., Lieut Newmarket 13th Res. Bn. Highland L. Inf. 
 
 James, R. A., Fit. Sub-Lieut. Vancouver Royal Flying Corps 
 
 Jephson, A. M., Private . . Vernon ....... 2nd Canadian Mtd. Rifles. 
 
 +J0HNSON, E. E., Private . . Windsor St., Montreal . 24th Battalion 
 
 Johnston, F. C, Gunner. . Montreal Royal Canadian Horse Artillery 
 
 Jones, A. de L., Lieut. . . . Bank St., Ottawa . . . 14th Co. Canadian Flying Corps 
 
 ®JONES, B.G Vancouver Royal Flying Corps 
 
 +J0NES, D.,Sergt Kamloops Princess Patricia's C.L.I. 
 
 Jones, D. E Logan Ave.,Winnip^ . 34th Fort Garry Horse 
 
 Jones, F. T Portage la Prairie . . . 45th Battalion, Mach. Gun. Sec. 
 
 Jones, G. W London, Eng 
 
 Jones, G.W St. John, N.B 7th Siege Battery 
 
 Jones, H.E Vernon 
 
 Jones, H.T., 2nd Lieut.. . Calgary 3/4 Welsh Brigade, R.F.A. 
 
 +J0NES, T. A Vancouver 16th Battalion 
 
 Kayss, J. H. B., Private . . Saskatoon 6th Univ. Co. Reinf. P.P.C.L.I. 
 
 Kearney, A. G., Private. . Saskatoon Princess Patricia's C.L.I. 
 
 [92} 
 
I r;/fJtrf,,y - / /fir 
 
 r 
 
 
 
 SPECIMENS OF THE FIRST BILLS ISSUED BY THE BANK OF MONTREAL 
 
 In the centre U a facsimile of a genuine $20 note issued a few months after the Bank began doing business. 
 It will be noticed that the bill was made payable to an individual mentioned by name, "or bearer." The 
 vignette is a representation of Montreal as it appeared at that time. The back of the bill is blank. 
 
 The specimen of the $2 bill of 1819 at the top of the page is a proof from the original engraved plate which 
 is still in the Bank'H possession. The vignette shows one of the first St. Lawrence steamboats, probably owned 
 by Mr. Molson. who became a director and president of the Bank. 
 
 The specimen of the (1 bill of 1819 at the bottom of the page is likewise a proof from an original plate. 
 The fact that the vignette depicts the Montreal prison, then one of the City's most modem buildings, adds to 
 its interest. 
 
Name and Rank Branch Regiment 
 
 +KEATES, A. A., Private . . Windsor St. .Montreal . Princess Patricia's C.L.I. 
 
 Keen, C, Colour-Sgt. . . . Queen & Portland Sts., 
 
 Toronto H.M.S. "Imperieuse" 
 
 Keep, R. J., Private. . . . Uppertown, Quebec . . 148th Battalion 
 ®Kelsey, C. E., Lance-Corp. Vancouver 72nd Seaforth Highlanders 
 
 Kemp, C., Private Fredericton No. 8 Field Am. Army Med. Corps 
 
 Kempf, J.P.,Sergt Montreal 6th Field Ambulance, C.A.M.C. 
 
 +KENNEDY,G.F.,Lance-Corp. Peel St., Montreal. . . 87th Battalion 
 +Kent,W.C., Private . . . Outlook 128th Battalion 
 
 Keown, T. H., Private . . Kelowna Can. Field Eng.,Sig. Sec. 
 
 (g)®®KERiN, C.S.,Capt London, Eng Acct. Dept. Army Cant'n Com. 
 
 Kerr, A. H Vancouver 46th Battery, C.F.A. 
 
 Kerr, C. D., Private . . . Vancouver 88th Victoria Fusiliers Bn. 
 
 ®(g)KERRY,A.A.,Lieut. . . . Montreal 54th Battalion 
 
 +K1NCAID, J. B.,Lieut. . . . London, Eng 1st Bn. Royal Scots Fusiliers 
 
 King, E.G., Lieut London, Eng 1st Bn. Royal West Kent Reg. 
 
 KiNG,E.J.S Sault Ste. Marie . . . 227th Battalion 
 
 King, R. H Yonge St., Toronto . , 
 
 (DKiNG,W Trans. Dept., New York, U.S. Forces 
 
 King, W.M., Lieut Halifax 66th Regiment P.L.F. 
 
 KiPPEN, E. D. B., Lieut. . . Carlton St., Toronto . 
 
 KiRKPATRicK, H. W.,Pte. . Halifax 85th Battalion 
 
 ®KiRWOOD,W.G., Lieut. . . London, Eng Machine Gun Sec., 10th Royal 
 
 Fusiliers 
 
 Kittson, N.E., Lieut.. . . Winnipeg Adjutant 8th Battalion 
 
 +KNIGHT, A. R., Sub-Lieut. . London, Eng Royal Naval Division 
 
 Knight, S.F., Lieut., Jlf.C. . Enderby 102nd Battalion 
 
 Knox-Leet, E. H., Major . West End, Montreal. . 199th Battalion 
 
 Laberee, C. G., Private . . Cookshire Sig. Section, 87th Ban. 
 
 (s)Lacey,C.S., Private . . . Tran. Dept., New York. U.S. Forces 
 
 Lacoste, A. L., Gunner . . Montreal Royal Canadian Horse Artillery 
 
 Ladd,R.E. A., Driver. . . Moncton 35th Battery, C.F.A. 
 
 +LAIRD, J.H.,Lieut Quebec 92nd Battalion 
 
 Lake, R. W Saskatoon 
 
 Lane, E. S. H., Lieut. . . . Hartland 219th Battalion 
 
 Langley, H.J. , Sub-Lieut.. London, Eng Royal Naval Volunteer Reserve 
 
 Latter, C. W., Private . . North End, Halifax . . 85th N.S. Highlanders 
 
 ©Laurie, D.A.,Major . . . Quebec 236th Battalion 
 
 Lavelle,E. B.,Q.-M.Sgt.. Mahone Bay 112th Battalion 
 
 Laverty, M.P.,Gunner. . Montreal McGill Heavy Battery 
 
 Law, W. v., Lieut Yonge St., Toronto . . 123rd Battalion 
 
 Lee, a., Sub-Lieut Waterloo Place .... Assistant Paymaster, Navy 
 
 (g)LEE,F.S., Trooper .... Victoria 2nd Cycle Platoon, C.E.F. 
 
 Lefroy, C. B.H Vernon 11th Can. Mounted Rifles 
 
 Leigh-Spencer, R.C.L.,Pte., Vernon 2nd Can. Mounted Rifles 
 
 Leishman,E. D. ,2nd Lieut. London, Eng Royal Flying Corps 
 
 Leitch, a. H. P London, Eng Black Watch Regiment 
 
 Leitch, J Merritt Forestry Battalion 
 
 Lem arch AND, C. H. . . . Medicine Hat Canadian Engineers 
 
 Lemesurier, S. a Quebec 
 
 ®Lewis,C.F., Lieut London, Eng Royal Field Artillery 
 
 LiLLico, LT Aurora Can. Eng'rs. Div. Sig. Corps 
 
 [95} 
 
Name and Rank Branch Regiment 
 
 ® Lilly, R. R.W.,Sergt. . . St. John's, Nfld . . . . 1st Newfoundland Regiment 
 ®LiNLEY,F. K., Private. . . London, Eng 3rd London Scottish 
 
 LisHMAN, E. N. G Waterloo Place .... 
 
 LiTHGOW, A, F. R., Private. Yonge St., Toronto . . 2nd Can. Div. Signal Corps 
 ©Little, A., Corporal . . . Prince Rupert .... 16th Battalion Can. Scottish 
 (g)LiTTLE, A. W., Sub-Lieut. . London, Eng Royal Flying Corps 
 
 Littler, H.V., Co. Q.-M.Sgt. Victoria 15th Battalion 
 
 Livingstone, R. J., Private Yorkton 128th Battalion 
 
 ®Lloyd, J. E., 2nd Lieut. . . Kelowna 2nd Queen's Royal West Surrey 
 
 Reg. 
 
 Lloyd, P. F Montreal McGill Battery 
 
 Lock, V., Private .... London, Eng 
 
 LoGGiE, J. H., Private . . Montreal Royal Canadian Engineers 
 
 Long, W. M., Lieut London, Eng Royal Field Artillery 
 
 +LONGHURST, R.H., Private. Peel St., Montreal. . . 73rd Battalion, Black Watch 
 
 Love, G. H., Lance-Corp. . Head Office 115th Battalion 
 
 +LowE, R., Private Montreal 13th Battalion 
 
 Luckett, T. M., Sergt. . . Vancouver Can. Eng'rs Training Depot, 
 
 Shorncliffe 
 
 Ludgate, L. p.. Gunner . . Moncton 65th Field Artillery 
 
 Lynch, J. D., Driver. . . . Montreal 1st Sec. 2nd Can. Div. Am. Col. 
 
 +®MacDonald, a. M. ... London, Eng London Scottish 
 
 MacDonald, C. A Bathurst St., Toronto . 
 
 MacDonald, D. F Shediac 65th Siege Battery 
 
 +MacDonald, G. F., Lieut. . St. Henri, Montreal . . 77th Battalion 
 
 MacDonald, J. F Toronto Cycle Corps 
 
 MacDonald, J. W., Gunner North End, Halifax . . 10th Siege Battery 
 
 MacDonnell, E. G. R., 
 
 Lieut Princeton 1st Queen's Regiment 
 
 (g)MAcDoNNELL, S. J. ... Perth, Ont Queen's Univ. Field Amb. Corps 
 
 MacDougall, D. H., Capt. Montreal No. 2 Can.Gen. Hosp.,Paymstr. 
 
 +MACGn.LivRAY, J. R. . . . London, Eng Queen's Westminsters 
 
 MacGregor, D. H., Private Edmonton 
 
 Machaffie, J.,Lieut. . . Fort Rouge, Winnipeg . 
 
 Macintosh, B. L Grand Falls, Nfld . . . 
 
 Mackie, J.G Calgary 
 
 Mackie, W. L., Lieut. . . . London, Eng. . . . Army Ordnance 
 
 MacKinnon, J. M Windsor St., Montreal . 
 
 Mackintosh, N. A., Private Tran. Dept., London E. 
 
 MacLean,V. M., Private . London, Eng 
 
 MacLeod, G. T., Private . London, Eng Black Watch 
 
 MacMillan, J., Private . Waterloo Place . . . . Seaforth Hndrs., Mesof>otamia 
 
 MacNeill, R. D Moncton 5th Div. Ammunition Column 
 
 MacPherson, A. R.,Sergt. Princeton 172nd Battalion 
 
 MacPherson, J. A. C., 
 
 Major Paris, Ont 38th Battalion 
 
 MADDisoN,G.F.,Ord. Sergt. Hamilton 120th Battalion 
 
 Malkinson, C. E., Gunner. London, Eng Royal Garrison Artillery 
 
 Mallett, J. A.,Gunner . . Charlottetown .... 252nd Battalion 
 
 Maloney, J. F Ottawa 
 
 (DMangin, J. C New York U. S. Forces 
 
 ®Mannell, G. E., Gunner . Calgary 1st Battery, C.F.A. 
 
 [96] 
 
Name and Rank Branch Regiment 
 
 Mara, F. H New York U.S. Navy 
 
 March-Phillips, S. L., 
 
 Lieut Vernon 
 
 Marentette, E. W . . . . Greenwood 68th Battery 
 
 ®Marr, A. J., Private . . . Winnipeg 78th Battalion 
 
 Marshall, H. G., Sergt. . London, Eng 3rd Hampshire Regiment 
 
 Martin, T.J Fredericton Ambulance Corps 
 
 +MARTIN, W.J. J., Private . Granby 73rd Battalion 
 
 Mason, A. J., Private . . . London, Eng 
 
 Mason, R. G Winnipeg 
 
 Massev, W. G., Private . Chatham, N.B 7th Brigade Overseas Draft 
 
 Matheson, R. D., Lieut. . Ottawa Can. Mach. Gun Train. Depot 
 
 +MATTHEW, R. T., Lieut. . . Chatham, Ont 70th Battalion 
 
 Matthewson, G. A., Pte. . Princeton 30th Battalion 
 
 Maynard, J. W., Lieut. . . Ottawa 14th Battalion 
 
 Mayson, R., Sub-Lieut, . . Calgary Royal Flying Corps 
 
 Meadus, R. H., Gunner . . Calgary Royal Can. Horse Artillery 
 
 Medland,C.R.,Q.M. Sergt. Montreal H.Q. 2nd Bgd. C.M.R. 
 
 Meikle, p. a Mount Forest Royal Flying Corps 
 
 Meredith, M. B., Private . Spokane 72nd Battalion 
 
 Meredith, T. R., Lieut . . London, Ont 241st Scottish Borderers 
 
 +MERRIX, C. E., Private . . Port Arthur 28th Battalion 
 
 Messias, B. L Peterborough .... Army Medical Corps 
 
 Mews, H. G. R St. John's, Nfld 1st Newfoundland Regiment 
 
 Meyrick, G.J. , Private . . London, Eng 
 
 Middleton, E. E Ottawa Canadian Division Signallers 
 
 +Miller, L. D Mexico 
 
 Mills, J. G Winnipeg Royal Can. Flying Corps 
 
 Mills, S. V., Sergt Peterborough .... 235th Battalion 
 
 Milne, J., Colour-Sergt. . . Victoria Royal Marine Light Infantry 
 
 Mingeaud.L. P., Gunner . Bowmanville Cobourg Heavy Battery 
 
 Mitchell, C.V. A., Sergt. . Sault Ste. Marie . . . 227th Battalion 
 
 +MITCHELL, D. G., Sergt. 
 
 {M.M.) Lindsay 2nd Battalion Signallers 
 
 +MITCHELL, G. A., Corp. . . Armstrong 7th Battalion 
 
 MoLSON,W.H., Lieut. . . Peel Street, Montreal . Reinforcg. Draft, 42nd R.H. of C. 
 
 MoNAGHAN, H. B., Private. Winnipeg 79th Battalion 
 
 Money, W. T., Corp. . . . Winnipeg 78th Battalion 
 
 (g)MoNSARRAT, H. R., Lieut. . Montreal 13th Battalion 
 
 MoNTEiTH, H. M., Bombr. . Renfrew ^rd Sec. Div. Amm. Col. 
 
 Moon, C. O., Lieut Montreal Cape's Battery 
 
 Morris, F. W., Trooper . . Winnipeg 3rd Reg Can. Mounted Rifles 
 
 <g)MoRRisoN,J.G.S.,2ndLieut. Montreal 1st Bn. Royal West Surrey Reg. 
 
 MoRSON, C. R Toronto 
 
 MosES, C. F., Private . . . Winnipeg 144th Battalion Band 
 
 MowAT,P.K.,Corp.(3/.Jlf.) Enderby 8th Can. Trench Mortars 
 
 MoY, S. A., Sergt Montreal 66th Battery 
 
 MuiR, R. C Montreal Royal Flying Corps 
 
 (giMuRDOCH, R. L., Lieut. . . McGill St., Montreal . 20th Battalion 
 
 ♦Murray, L H., Private . . Paris 4th Battalion 
 
 MusGRAVE, J.,Sergt. . . . Winnipeg 61st Battalion 
 
 McCabe, H. P., 2nd Lieut. . Winnipeg 178th Brigade, R.F. A. 
 
 McClellan, J. J. G. . . . Bowmanville 
 
 [97] 
 
Name and Rank Branch Regiment 
 
 McCoLLOM.F.A., Sub-Lieut. Montreal British Naval Patrol 
 
 ®McCooL, M. B., Private . . High River 196th Western Univ. Battalion 
 
 McCosH, D, D., Lieut. . . Carlton St., Toronto. . 
 
 ®McGouN, D. M., Corp. . . Montreal 24th Battalion 
 
 ®McGovERN, T. F., Drum'r . Seigneurs St., Montreal. Royal Canadian Horse Artillery 
 
 +McLean, A. A. M., Private. London, Eng London Scottish 
 
 McLean, M. A., Lieut. . . London, Eng 4th Machine Gun Corps 
 
 McMahon,J.W Wolfville 85th Battery, N.S. High. Bgde. 
 
 McManus, F. R. W. . . . Ottawa Trumpeter, 72nd Battery 
 
 McPhail, N. H., Corp. . . Perth, N.B.. 115th Battalion 
 
 McTear, F. W Montreal 66th Battery 
 
 Narborough, p. a.. Private Waterloo Place .... 
 
 (g)NASH, C. E., Lieut Halifax 66th Regiment, P.L.F. 
 
 NASH,F.M.,Bombr. . . . Fort William 98th Siege Battery, C.E.F. 
 
 Netten, A. E., Private . . Wolfville No. 9 Can. Stationary Hospital 
 
 Newlands, G. F., Lieut. . . London, Ont 46th Battalion 
 
 Newman, C. F London, Eng Asst. Paymaster Royal Navy 
 
 (g)NEWMAN,M.F., Lieut. . . Yonge St., Toronto . . 15th Battalion 
 
 Newton, D.S.C., Lieut. . London Flying Corps 
 
 Nixon, H. A., Driver . . . Vancouver 3rd Sec, 4th Div. Amm. Col. 
 
 NooNAN,F. J., Lieut. . . . Toronto 
 
 <g)®NORSWORTHY, S. C, Maj., 
 
 D.S.O.,M.C. Mexico 42nd Battalion 
 
 (DO'CoNNOR, T. F Chicago American Navy 
 
 AOlding, A., Private . . . . Montreal 
 
 Pain, F. A., Private . . . Yorkton 2nd Canadian Mounted Rifles 
 
 Palin, C. S., Lieut. . . . Winnipeg 
 
 Palmer, W. A., Private . . Winnipeg 43rd Battalion 
 
 +Palmer,W.W Calgary 
 
 Pamely, F., Corp Calgary 187th Battalion 
 
 +PARKE, E. F., Private . . Edmonton Princess Patricia's C.L.L 
 
 ®Parnell, R., Lance-Sergt. . London, Eng London Scottish, Salonica 
 
 ©Parsons, D. A., 2nd Lieut. . London, Eng Bedfordshires 
 
 PATERSON,A.T.,Capt. . . Peel St., Montreal . . 5th Battery, C.F.A. 
 
 Patterson, V Peterborough . • . . . Army Medical Corps 
 
 Payne, H. C, Gunner . . St. Catharines .... Royal Canadian Horse Artillery 
 
 Peace, A. M London, Eng 
 
 ®Peachey, J. F., Private . . Head Office 
 
 Pearce, V. G., Sub-Lieut . Perth, Ont Royal Engineers 
 
 Pearse,L.G., Sub-Lieut. . London, Eng Royal Naval Volunteer Reserve 
 
 Penno,L.L., Lieut Q. & P. Sts., Toronto. . 2nd York &Lancasters 
 
 <g)(g)PERKiN, F. R., Driver . . . Winnipeg 5th Artillery Brigade 
 
 Perks, A. J., Lieut Halifax 64th Battalion 
 
 Peters, A. R.,Sergt.-Major Welland Can. Div. Cyclists' Corps 
 
 Peters, R., Rgt.Sergt-Mjr. Kelowna 4th Division Cycle Corps 
 
 Petrie,H.L., Lieut. . . . Guelph 1st Canadian Reserve Park 
 
 Phillips, S.T., Private . . London, Eng 
 
 <g)PiCKiNG, F.J.,Lieut. . . . Wallaceburg 33rd Battalion 
 
 PilkeYjE. M., Lieut. . . . Montreal 
 
 PiPON, E. P., Sub-Lieut. . . Toronto Motor Launch Patrol 
 
 [98] 
 
BANK OF MONTREAL COINAGE 
 
 Nos. 1 and 2 are th« obverae and reverse of a Bank of Montreal copper token issued about the close of 
 1837. The Bank in the early days followed a custom in England where merchants and others issued coins by 
 sufferance and not by authority. The habitant, or French-Canadian farmer, pictured in ciiaracterisUc garb on 
 the obverse, makes the cola of particular local interest. 
 
 When tokens were abolished the Bank was given the right of issuing Its own copper coinage. Nos. 3 and 4 
 show the obverse of pennies issued by the Bank In 1838 and 1842 and depict a side and front view of the old 
 building in St. James Street, then owned and occupied by the Bank. 
 
 No. 5 is the reverse of a handsome medal struck in 1867 to commemorate the Confederation of the Pror- 
 loces of Canada. One of these medals is in the JIaak's museum. 
 
*^^H5^ 
 
 ..^:?^ 
 
Name and Rank Branch Regiment 
 
 PiTCAiRN, D. N., 2nd Lieut. London, Eng 9th Gordon Hghlndrs. (Pioneers) 
 
 Planche, C. C, Sapper . . Cookshire 117th Battalion 
 
 Plummer, T. B., Private . Stratford Can. Section, Gen. H.Q. 3rd 
 
 Echelon, France 
 
 PoTiER, P. A London, Eng Royal Navy 
 
 PowEL, R. H Calgary 
 
 Pratt, G. H., Corp. . . , Portage la Prairie . . . 77th Battery, C.F.A. 
 
 +PRiCE,J.T.,2ndLieut. . . London, Eng 28th Res. Bn. Royal Fus'rs. 
 
 Public Schools 
 
 Proctor, G. P Kingston 254th Battalion 
 
 Prosser, F Toronto . York&SimcoeForestryConstr'n 
 
 Battalion 
 
 PuDNEY,J.R., Private . . Winnipeg Can. Section, 3rd Echelon, G. 
 
 H.Q. 
 
 Raby, W. J. F., 2nd Lieut. . London, Eng Army Service Corps 
 
 (g)®RADCLiFFE, C. A., Lieut. . Q. & P. Sts. Toronto . . 11th Res. Bn. P.P.C.L.L 
 
 Rae, J. .Gunner Vancouver 68th Battery 
 
 Rafferty, J. P., Private . Waterloo Place . . . . 
 
 Raikes,W.H., Lieut. . . . Vancouver 11th Canadian Mounted Rifles 
 
 +RAMSAY, L. C, Lieut. . . . Edmonton 15th Battalion 
 
 (g)RAMSAY, W. H., Private . . Chilliwack 72nd Seaforth Highlanders 
 
 Rankine, B. G., Private . . Kingston 21st Battalion 
 
 Ransom, P.J. F Merritt Mechanical Transport 
 
 ©Ratchford, C. J. F., Lieut. Amherst 25th Battalion 
 
 Ratcliffe, N. T London, Eng London Regiment 
 
 (g)REiD,D.J Q.& P. Sts., Toronto. . 
 
 Reynolds, H. J. S., 2nd Lieut. Vernon 4th Manchester Regiment 
 
 Rhodes, A. C Red Deer Royal Navy 
 
 Richards, R. N., Private. . London, Eng 
 
 RiCKARDS, E. S., 2nd Lieut. Saskatoon 28th Battalion 
 
 RiSTEEN, F. B., Private . . Amherst 193rd Battalion 
 
 Roach, L. P North Battleford . . . 232nd Battalion 
 
 Roberts, T. H., Private . . Waterloo Place .... 
 
 ©Robertson, A. G., Signaller Montreal 14th Battalion 
 
 Robertson, L G., Capt. . . St. Roch Paymaster, 3rd Artillery Bgde. 
 
 Robinson, H. A., Lance-Cp. Peel St., Montreal. . . 148th Battalion 
 
 ® Robinson, H. W., Private . Winnipeg Canadian Army Pay Corps 
 
 ®Robinson,W. M,, Private.. Regina 8th Battalion 
 
 RoBSON, W. M Montreal 
 
 Rogers, E. G. R Kingston 72nd Battery 
 
 Root, N., Sub-Lieut. . . . Montreal Royal Naval Motor Patrol 
 
 +Ross, G. K., Lieut Royal Trust Co., Mont'l 14th Battalion 
 
 Ross, G. M Prior St., Vancouver. . Royal Flying Corps 
 
 (8)Ross, J. C, Lieut Winnipeg 4th Res. Bn. (Gordon High.) 
 
 Ross, W. E. T., Private . . Waterloo Place .... 
 
 Round, A. J. M New Westminster . . . 
 
 +ROUQUETTE, J. H., Lieut. . Stirling 3rd Queen's Regiment 
 
 Rouse, H. H., Private . . . London, Eng 
 
 (g)<g)RouTiER, C. H., Lieut. . . St. Roch 22nd Battalion 
 
 +ROUTLEDGE, A., Lieut. . . . Peel St., Montreal. . . 42nd Bn. Highlanders 
 
 ® Roy, R., Lieut Montreal 14th Battalion 
 
 RoYSTAN, N. C Sherbrooke 
 
 ®RuDDOCK, E. B., Private . . Merritt 2nd Canadian Mounted Rifles 
 
 [lOl] 
 
Name and Rank Branch Regimeni 
 
 +RusH, C. T. O., Lieut. . . . Summerland Canadian Mounted Rifles 
 
 Russell, E. W. H Victoria 
 
 ®RuTHERFORD, D. B Montreal 
 
 Rutherford, E. E,, Private London, Eng 
 
 Saddington, C. W,, Gunner Almonte Sec. 4, 2nd Div. Amm. Col. 
 
 Sampson, W. F., 2nd Lieut. London, Eng 18th Fusiliers 
 
 Sawers, F. G., Lieut. . . . Winnipeg Royal Canadian Dragoons 
 
 ScHiEDEL, E. J., Gunner . . Montreal 1st Reserve Battery, C.F.A. 
 
 ScoBiE,W. D.S. M.,Pte. . Waterloo Place . . . . 
 
 Scott, J., Lieut., Af.C. . . . New Westminster . . . 
 
 +ScoTT, J. J.jPrivate . . . . Saskatoon Princess Patricia's C.L.L 
 
 ScuLLARD,F., Lieut. . . . Port Arthur 60th Battalion 
 
 Sedgwick, F.B Head Office Royal Flying Corps 
 
 Sellery, A. R. Private . . Montreal Royal Canadian Engineers 
 
 SEWELL,H.A.,Lieut. . . . Quebec 171st Battalion 
 
 SewelLjL.F., Private. . . Waterloo Place . . . . 
 
 ®Sewell, R. L.,Corp. . . . Montreal 24th Battalion 
 
 Shannon, J.J. ,Sergt. . . . Calgary 
 
 Shaw, A. F., Signaller . . . Westmount, Montreal . H.Q. 2nd Artillery Brigade 
 
 +Sheffield,G., Lieut. . . Head Office 148th Battalion 
 
 Sheppard,E. J., Private . Nelson Signal Sec, 54th Battalion 
 
 Shildrick, D. H. L, Corp. . New Westminster . . 131st Battalion 
 
 Silver, E.,Lance-Corp. . . Winnipeg 3rd London Scottish 
 
 +S1NCLAIR, H. F.G., Private. Victoria 15th Battalion 
 
 +S1NCLAIR, W. J Hamilton 4th Battalion 
 
 Skinner, J., 2nd Lieut. . . London, Eng 10th Gloucester Regiment 
 
 Skinner, J Winnipeg Royal Flying Corps 
 
 <g)®SLADEN, J. D., Lieut. . . . Montreal 2nd Battalion 
 
 (DSmidt, N. B New York U.S. Forces 
 
 Smith, A. H.C., Lieut. . . Upper Town, Que. . . 8th Royal Rifles 
 
 Smith, D. R., Lieut. . . . Sherbrooke 117th Battalion 
 
 +SMITH, E.S. H.jCorp. . . . Buckingham 38th Battalion 
 
 Smith, G.S Deseronto 
 
 Smith, G.W Parkdale, Toronto. . . Royal Canadian Dragoons 
 
 Smith, H.E., Private . . . Brockville 156th Battalion 
 
 Smith, H.M.G., Lieut. . . Brantford 125th Battalion 
 
 ®Smith,L. H. ,2nd Lieut. . . London, Eng. . .• . . . Royal Flying Corps 
 
 Smith, R. S., Lieut New Westminster . . 7th Battalion 
 
 Smith, W. S., Lieut. . . . Brantford 
 
 Smythe, E. B., Lieut. . . . Spokane 146th Battalion 
 
 Smythe.H.C, Lieut. . . . Ottawa 216th Battalion 
 
 SoDEN, L. E Peterborough .... 
 
 Sootheran, H. C, Capt. . Goderich 74th Battalion 
 
 <g)®SpiLLAN, H. C. R., 2nd Lieut.London, Eng City of London Yeomanry 
 
 (Rough Riders) 
 
 Spong, H., Private .... London, Eng 
 
 Spooner, L. G., Private . . Princeton 231st Battalion 
 
 Spraggon, B. P Vernon 3rd Bat., 14th West Yorks Regt. 
 
 Startin,G., Driver . . . London, Eng Transport Sec, 1st Artists Rifles 
 
 ®Steel,S. G. H. ,2nd Lieut. New Denver 3/5 Bn., Leicestershire Regt. 
 
 +STEELE, D. W. S., Lieut. . . Sudbury 3rd Battalion, Dorset Regiment 
 
 Stephens, G. C Collingwood 177th Battalion 
 
 [ 10^ 1 
 
Name and Rank Branch Regiment 
 
 +STEPHENS, G. D., 2nd Lieut. West End, Montreal . 5th Royal Fusiliers 
 
 Stevenson, C. C, Private . Port Arthur 119th Battalion 
 
 Steward, G., Private . . . Kamloops 172nd Battalion 
 
 ®Stewart, p. D., Sergt. . . Vancouver 16th Battalion "Can. Scottish" 
 
 ®Stewart,R.S., Sub-Lieut. . London, Eng Royal Naval Division 
 
 Stewart, W., Sergt. . . . Shediac 145th Regiment 
 
 ®Stil WELL, B. E., Corp. . . Victoria 72nd Seaforth Highlanders 
 
 (©Stirling, J. B.,Lance-Corp. Vancouver 72nd Seaforth Highlanders 
 
 Stranger, F.H., Lieut. . Parkdale, Toronto. . . 21st F.H.S., 7th D.C.L.I. 
 
 Struthers,R.D., Sergt. . London, Ont 160th Battalion 
 
 Stuart-Smith, P. J., Private Raymond H.Q. Canadian Training Div., 
 
 Shorncliffe 
 
 STURLEY,J.E.,Sergt. . . . Outlook 210th Battalion 
 
 ®Sullivan, D.J. , Lieut. . . Dauphin 
 
 +SULLIVAN, W. C, Private . Montreal 24th Battalion 
 
 ©Sunderland, B. D. P.,Lieut. Rossland 2nd Corps Wood Cutting Party, 
 
 2nd Bridging Train 
 ®SuTCLiFFE, A. L Kingston Military Pay Office, M.D. 3 
 
 Sutton, R. E., Private . . Waterloo Place, Eng. , 
 
 Syme,A.A St. John's, Nfld Newfoundland Regiment 
 
 Symmons, W. W., Lieut. . . London, Eng 
 
 ®®Syrett, B., Private .... Toronto 48th Canadian Highlanders 
 
 Taylor,A. I. M.,Corp. . . Bridgewater 219th Battalion 
 
 Taylor, A. W.S Fredericton 9th Siege Battery 
 
 ®®Taylor, D., Private . . . Toronto 42nd Battalion 
 
 ©Taylor, G. E., Private . . Queen & Portland Sts., 
 
 Toronto 11th Res. Battalion, P.P.C.L.I. 
 
 +TAYLOR, G. G. R., Corp. . . Montreal 24th Battalion 
 
 Taylor, J., Trooper. . . . Vancouver Strathcona's Horse 
 
 (g)®TAYLOR, L. W., Private . . Montreal 14th Battalion 
 
 (g)TAYLOR,W.E.,Lance-Corp. North End, Halifax . . 64th Regiment 
 
 Tebbs, B. C Hamilton 
 
 +Tees,S.M., Sergt Vernon Mach. Gun Sec., 48th Battalion 
 
 +®Thompson, C. a., Lieut. . . Grand Mere 36th Battalion 
 
 Thompson, T. W. H . . . . Montreal 66th Battery 
 
 Thomson, A. R., Private. . Yorkton 210th Battalion 
 
 Thomson, J. B Portage la Prairie . . . 18th CM. R. 
 
 ®TiLLY,T.G., Lieut London, Ont 109th Battalion 
 
 Tocque, H.J Vernon 103rd Battalion 
 
 ®ToD, W. D., Lieut Winnipeg 221st Battalion 
 
 ToLMiE,R.S., Sergt. . . . Sudbury 159th Battalion 
 
 +ToMS,A. G.St. J., Private . Peterborough .... 21st Battalion Mach. Gun Sec. 
 
 TowNSEND.L.W., Lieut. . Vancouver 181st Battalion 
 
 +Tra vers, H. E. K., Lieut. . Regina Sherwoods 
 
 Tremain, G. C, Private . . Saskatoon P.P.C.L.I. (11th Res. Bn.) 
 
 +Trow, A. S., Private . . . Logan Ave., Winnipeg . 5th Univ. Co. Reinf. P.P.C.L.L 
 
 ©Trusdale, W. G Calgary 
 
 Tucker, E.R.H., Sergt.. . St.John, N.B 1st Canadian Heavy Battery 
 
 Tltllo, R. a. L London, Eng Royal Marine Artillery 
 
 Turner, M. W., Capt. . . Winnipeg Paymaster's Headquarters, 5th 
 
 Artillery Brigade 
 
 Urch,C.O London, Eng 3/3LondonFieldAmb.,R.A.M.C, 
 
 [ 103 } 
 
Name and Rank Branch Regiment 
 
 Verner, C. N Hull 72nd Queen's Battery 
 
 +Vessey,E. J., Capt Head Office 60th Battalion 
 
 ®ViBERT,W.C., 2nd Lieut. . Port Coquitlam . . . 124th Machine Gun Company 
 
 ViLLECOURT, E., Corp. . . Notre Dame de Grace . No. 8 Can. Gen. Hospital, S. 5. 
 
 Von Berg, L. C London, Ont 244th Battalion 
 
 +WADSWORTH, D.A.R., Lieut. Toronto 75th Battalion 
 
 Walker, A., Private . . . Outlook, Sask 179th Cameron Highlanders 
 
 +WALKER, H,K.,Lance-Corp Trail 102nd Battalion 
 
 ®Walker,J.T London, Eng London Scottish 
 
 +WALKER, W. H Vancouver 12th Battery 
 
 Wallace, C. H., Lieut. . . Amherst 
 
 Wallace, G.C Logan Ave., Winnipeg . 76th Depot Battery 
 
 Wallace, J. R., Lieut. . . St. Roch Grenadier Guards 
 
 Walsh, M. I Barton- Victoria, Hamil- 
 ton 23rd Res. Park, Salonica Army 
 
 Ward, F. v.. Private . . . Waterloo Place, Eng . . 
 
 Ward, J. M., Gunner . . . Princeton 68th Battery, C.F.A. 
 
 +WARING, C. E Montreal 
 
 Warlters, R.O. H. P. . . Saskatoon 196th West. Univ. Battalion 
 
 Watkins, H.J., Lance-Corp. Yonge St., Toronto . . Can. Eng. Train. Depot, Sig. Co., 
 
 Crowborough 
 
 Watson, B. M., Lieut . . . Montreal 199th Battalion 
 
 Watson, R.S.,Lt.,M.C. . Rossland 4th Battalion 
 
 ®Watt, M.J. .Private . . . Port Haney 
 
 ®Watt,W. R.Lieut., Af.C . London, Eng 1st Gordon Highlanders 
 
 Webb,C.R Sawyerville 117th E.T. Battalion 
 
 Webb, E. H., Private . . . Waterloo Place, Eng . . 
 
 ©Webber, R.S.,Lt.,Jlf.C. . Toronto 15th Battalion 
 
 Webster, F. S Moncton 65th Field Artillery 
 
 Webster, H.F Fort Rouge, Winnipeg . Canadian Army Service Corps 
 
 Webster, J. A., Private . . London, Eng 
 
 Webster, O.T Montreal 66th Battery 
 
 Webster, V.S Newmarket WirelessOper., Can. Nav. Forces 
 
 Wentzell, P. A., Sergt. . . Sarnia 112th Battalion 
 
 West,J.H Perth,N.B 
 
 Wherry, R. L Regina ........ 
 
 White, A. O Montreal ' . . No. 1 Over. Batt., Siege Artillery 
 
 ©Whiteside, H.S., Lieut.. . New Westminster . . 47th Battalion 
 
 Whitford.J.A. H Bridgewater 10th Halifax Siege Battery 
 
 +W1LCOX, F. A. C, Lieut. . . Winnipeg 6th Service Battalion, North- 
 amptonshire Regiment 
 
 WiLGRESS, F. R., Lieut. . . Victoria 1st Lovat Scouts, Mediterranean 
 
 Expeditionary Force 
 
 WiLKiNS, S London, Eng 
 
 Williams, E.J Regina 10th Battalion 
 
 Williams, H. D., Lce.-Corp. Vernon 2nd Canadian Mounted Rifles 
 
 (g)WiLLiAMS, W. L. K., Lieut. . Toronto 50th Battalion 
 
 Williamson, A. S Montreal New Bristol Battalion, Glouces- 
 tershire Regiment 
 
 +W1LSON, D. D., Lance-Corp. New York Princess Patricia's C.L.I. 
 
 Wilson, J Calgary 191st Battalion 
 
 ®WlLSON, J. W., Private . . Cloverdale 62nd Battalion 
 
 [ 104 } 
 
Name and Rank 
 
 +W1LSON, R, A., Private . . 
 
 Wilson, W. J. L 
 
 +W1LSON, W. W., Capt. . . . 
 
 Wiltshire, H. J., Sergt. . . 
 
 Windsor, G.E., Gunner. . 
 
 Winn, J. H., Private . 
 ®®WiNSLOW, H. P., Sub-Lieut. 
 
 Winter, M.G 
 
 Winter, R. A 
 
 Wisdom, H. G. E., Private 
 +WOLFERSTAN,S., Lieut. . 
 
 WooD.J.S., Cadet ... 
 ®WooD, R. W. Sapper . . 
 
 WoODROW, K. T., Private 
 
 Woodward, G., Sergt. . . , 
 +W00DWARD, T. P., Private 
 (M.M.) 
 
 WooTTEN, G. B., Lieut. . 
 
 Wright F. B., Corp. . . . 
 
 Wright, H. D 
 
 Wright, R. McA 
 
 ©Wright, W 
 
 +WYLIE, J. A., Lieut. . . . 
 
 Young, H. A., Private . , 
 
 Branch Regiment 
 
 Edmonton 138th Battalion 
 
 Ottawa Can. Div. Sig. Co. 
 
 Lindsay 16th Battalion, Can. Scottish 
 
 Montreal Pay Office, Can. Contingents 
 
 Montreal 1st Reserve Battery, C.F.A. 
 
 London, Eng 
 
 Royal Trust Co., . . . Howe Battalion, 2nd Royal Naval 
 
 Winnipeg Brigade, Dardanelles 
 
 St. John's, Nfld ... 1st Newfoundland Regiment 
 
 Toronto 
 
 St. John's, Nfld. . . . Royal Field Artillery 
 
 Kingston 1st Bn. Dorset Regt. 
 
 Red Deer Royal Flying Corps 
 
 London, Eng Royal Engineers 
 
 Montreal Royal Canadian Engineers 
 
 St. Catharines .... 81st Battalion 
 
 Armstrong 72nd Seaforth Highlanders 
 
 Lunenburg 
 
 Sault Ste. Marie . . . 7th Brigade, Mach. Gun Sec. 
 
 Ottawa 
 
 Wallaceburg Mechanical Transport, A.S.C. 
 
 Winnipeg 1st Field Ambulance 
 
 Edmonton 92nd Highlanders 
 
 Brantford 125th Battalion 
 
 L 105 ] 
 
DECORATIONS WON 
 BY MEMBERS of THE BANK OF MONTREAL STAFF 
 
 UP TO 3OTH SEPTEMBER, I917 
 f -f 1 
 
 DISTINGUISHED SERVICE ORDER 
 
 MAJOR S. C. NORSWORTHY, Mexico.— He went forward under very heavy fire and 
 established a firm defensive flank and continued in personal command for 
 thirty-six hours. — 4th April, 1917. 
 
 ■f 
 
 MILITARY CROSS 
 
 LIEUTENANT W. H. CARLING, London, Ont. — For conspicuous gallantry in action. 
 He carried out a reconnaissance under intense fire with great courage and 
 determination, obtaining most valuable information. — 2Sth Nov., 1916. 
 
 CAPTAIN S. C. NORSWORTHY, Mexico. — He took personal supervision of operations 
 in the front line during an action, displaying great courage and initiative and 
 later, although wounded, remained on duty. — 16th December, 1916. 
 
 LIEUTENANT R. S. WATSON, Rossland. — He showed marked courage and initiative 
 during consolidation of a position and later returned over open ground and 
 under intense fire and made a valuable report. — 16th December, 1916. 
 
 LIEUTENANT W. R. WATT, London, Eng. — For conspicuous bravery in the Battle of 
 the Somme. — Information received 19th Jan., 1917. 
 
 2nd LIEUTENANT A. D. GROVE, London, Eng.— For bravery at Beaumont-Hamel. 
 
 — Information received 19th January, 1917. 
 
 LIEUTENANT J. E. GENET, Brantford. — For gallantry during operations on the Somme. 
 
 — Information received 22nd January, 1917. 
 
 LIEUTENANT T. B. BARRIE, Vancouver.— For conspicuous gallantry and devotion to 
 duty. He carried out several dangerous reconnaissances and obtained most 
 valuable information. Later, during a raid on the enemy's trenches he led 
 his men with great gallantry and succeeded in gaining his objective, together 
 with several prisoners. — 21st April, 1917. 
 
 LIEUTENANT J. SCOTT, New Westminster. — While in command of a raiding party 
 he led his men with great gallantry and reached the objective in spite of most 
 difficult conditions. He brought back valuable information. 
 
 —23rd June, 1917. 
 
 LIEUTENANT R. O. G. BENNETT, Lumby. — For conspicuous gallantry and devotion. 
 Under concentrated fire of heavy guns he rescued some officers who were 
 buried in a dugout. — 21st July, 1917. 
 
 LIEUTENANT S. F. KNIGHT, Enderby. — For conspicuous gallantry and devotion to 
 duty. When all other officers had become casualties he took charge and 
 displayed great courage and skill in dealing with a very difficult situation. 
 
 —25th August, 1917. 
 
 [106] 
 
CAPTAIN H. F, HALL, Quebec. — For conspicuous gallantry and devotion to duty. 
 
 E^ly in operations a Staff Captain was badly wounded. He took over his 
 
 "" duties and for five days he carried out many dangerous duties, reconnoitered 
 
 forward positions, and led forward troops to hold them, invariably displaying 
 
 great fearlessness and skill. — 2Sth August, 1917. 
 
 LIEUTENANT W. J. H. ELL WOOD, Head Office.— For services performed under cir- 
 cumstances of great danger in securing the co-ordination work of the artillery 
 and infantry during an assault on the enemy position. 
 
 —10th September, 1917. 
 f 
 
 BAR TO MILITARY CROSS 
 
 LIEUTENANT T. B. BARRIE, Vancouver.— He led an offensive patrol penetrating 600 
 yards of the enemy's line, inflicting many casualties. His coolness was a great 
 inspiration not only to his own patrol but also to all those who observed his 
 magnificent work. — 19th May, 1917. 
 
 MILITARY MEDAL 
 
 PRIVATE D. G. MITCHELL, Lindsay (Killed). — For keeping communication up under 
 very heavy shell and rifle fire. — Information received 24th October, 1916. 
 
 PRIVATE P. K. MOWAT, Enderby.— For bravery in the field.— 13th January, 1917. 
 
 PRIVATE T. P. WOODWARD, Armstrong (Killed).— 19th April, 1917. 
 
 MENTIONED IN DESPATCHES 
 
 CAPTAIN A. T. PATTERSON, Peel Street, Montreal.— Recommended by Field Marshal 
 Sir John French for gallant and distinguished service in the field. 
 
 —24th January, 1916. 
 MAJOR H. F. HALL, Quebec.— For gallantry on the field.— 4th July, 1916. 
 
 LIEUTENANT A. ROUTLEDGE, Peel St., Montreal (Killed).— Mentioned in despatches 
 by General Haig.^-6th January, 1917. 
 
 CORPORAL E. S. H. SMITH, Buckingham (Killed).— Mentioned in despatches by General 
 Haig. — 6th January, 1917. 
 
 [107] 
 
/V\?6^: 
 
m^ 
 
4