Bank of Hamilton
Encyclopedia
The Bank of Hamilton was established in 1872 by local businessmen in the city of Hamilton, Ontario
, Canada
under the leadership of Donald McInnes, the bank's first President. Like the other Canadian chartered banks, it issued its own paper money. The bank issued notes 1872-1922. The end dates are the final dates appearing on notes, which may have circulated for some time after.
during the summer of 1879 when six banks in the area had to suspend activities due to financial difficulties. On August 1, 1879, the bank would run into further difficulties when its headquarters burned down; however, the bank would go on to thrive.
On July 29, 1896 the Bank of Hamilton's first Winnipeg
branch opened. By December 1898, six more branches were opened in Manitoba
. This marked the beginning of two decades of explosive growth in the West. In total, between 1898 and 1910, the Bank of Hamilton would go on to open 128 branches throughout Ontario
and Western Canada. By 1928, this number had grown to 152 branches.
Like the other Canadian chartered banks, it issued its own paper money. The Bank of Canada
was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
. This tall building attracted the attention of Harry H. Gardiner
of Washington, known as the Human Fly. He climbed the Bank of Hamilton building on November 11, 1918, to celebrate the end of World War I
.
, or CIBC) on January 2, 1924. It was one of the last surviving banks in Canada that was not headquartered in Toronto
or Montreal
.
Thirty-five members of the Bank of Hamilton from branches across Canada died as a result of their World War I
service. Their names were listed on a bronze memorial plaque which is currently displayed at the former Bank of Montreal
(1928) building in Hamilton, Ontario.
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
under the leadership of Donald McInnes, the bank's first President. Like the other Canadian chartered banks, it issued its own paper money. The bank issued notes 1872-1922. The end dates are the final dates appearing on notes, which may have circulated for some time after.
Beginnings
The bank had a rough start, including near bankruptcyBankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
during the summer of 1879 when six banks in the area had to suspend activities due to financial difficulties. On August 1, 1879, the bank would run into further difficulties when its headquarters burned down; however, the bank would go on to thrive.
On July 29, 1896 the Bank of Hamilton's first Winnipeg
Winnipeg
Winnipeg is the capital and largest city of Manitoba, Canada, and is the primary municipality of the Winnipeg Capital Region, with more than half of Manitoba's population. It is located near the longitudinal centre of North America, at the confluence of the Red and Assiniboine Rivers .The name...
branch opened. By December 1898, six more branches were opened in Manitoba
Manitoba
Manitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
. This marked the beginning of two decades of explosive growth in the West. In total, between 1898 and 1910, the Bank of Hamilton would go on to open 128 branches throughout Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
and Western Canada. By 1928, this number had grown to 152 branches.
Like the other Canadian chartered banks, it issued its own paper money. The Bank of Canada
Bank of Canada
The Bank of Canada is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada...
was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
Expansion
By 1905 the bank was doing so well that it decided to expand its head office, adding on an additional 8 stories. This is significant because the bank headquarters became Hamilton's first skyscraper on the corner of King and James StreetJames Street (Hamilton, Ontario)
James Street is a Lower City arterial road in Hamilton, Ontario, Canada. It starts off at the base of the Niagara Escarpment from James Mountain Road, a mountain-access road in the city, originally was a one-way street going south throughout but now has sections of it that are two-way...
. This tall building attracted the attention of Harry H. Gardiner
Harry Gardiner
Harry H. Gardiner , better known as the Human Fly, was an American man famous for climbing buildings. He began climbing in 1905, and successfully climbed over 700 buildings in Europe and North America, usually wearing ordinary street clothes and used no special equipment.- Climbs :Some of the...
of Washington, known as the Human Fly. He climbed the Bank of Hamilton building on November 11, 1918, to celebrate the end of World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
.
Architecture
The Bank of Hamilton in Winnipeg, Manitoba, built 1916 to 1918 is on the Registry of Historical Places of Canada.Merger
The Bank of Hamilton merged with The Commerce (later to become the Canadian Imperial Bank of CommerceCanadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT....
, or CIBC) on January 2, 1924. It was one of the last surviving banks in Canada that was not headquartered in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
or Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
.
Thirty-five members of the Bank of Hamilton from branches across Canada died as a result of their World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
service. Their names were listed on a bronze memorial plaque which is currently displayed at the former Bank of Montreal
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
(1928) building in Hamilton, Ontario.
External links
- CIBC - Mergers and Amalgamations, The Canadian Bank of Commerce