Saint Jacques Street
Encyclopedia
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...
, Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
, 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...
.
The street has had two official names
Street name
A street name or odonym is an identifying name given to a street. The street name usually forms part of the address...
: St. James Street in English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
(never spelled "Saint") after St. James's
St. James's
St James's is an area of central London in the City of Westminster. It is bounded to the north by Piccadilly, to the west by Green Park, to the south by The Mall and St. James's Park and to the east by The Haymarket.-History:...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
; and its current appellation, rue Saint-Jacques, in French
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
. Both names are sometimes used in English, though Saint-Jacques is the most common for geographical reference. St. James Street is usually used in reference to the street's historic importance as a financial district.
St. James Street
Old Montreal
Old Montreal is the oldest area in the city of Montreal, Quebec, Canada, dating back to New France. Located in the borough of Ville-Marie, the area is bordered on the west by McGill St., on the north by Ruelle des Fortifications, on the east by Berri St. and on the south by the Saint Lawrence River...
, the street was first opened in 1672. The portion between McGill Street and place Saint Henri was originally called Bonaventure Street (rue Saint-Bonaventure). This name has passed down to Place Bonaventure
Place Bonaventure
Place Bonaventure is an office, exhibition and hotel complex in Downtown Montreal, Quebec, Canada, adjacent to the city's Central Station. At in size, Place Bonaventure was the world's largest building upon its completion in 1967....
, Bonaventure Expressway
Quebec Autoroute 10
Autoroute 10 is an Autoroute in southern Quebec, Canada...
, and Bonaventure metro station
Bonaventure (Montreal Metro)
Bonaventure is a station on the Orange Line of the Montreal Metro rapid transit system, operated by the Société de transport de Montréal . It is located in the borough of Ville-Marie in downtown Montreal, Quebec, Canada....
, despite the disappearance of their original referents.
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...
, Canadian, provincial, and major municipal governments along with important industries such as the railways, public utility
Public utility
A public utility is an organization that maintains the infrastructure for a public service . Public utilities are subject to forms of public control and regulation ranging from local community-based groups to state-wide government monopolies...
and canal
Canal
Canals are man-made channels for water. There are two types of canal:#Waterways: navigable transportation canals used for carrying ships and boats shipping goods and conveying people, further subdivided into two kinds:...
companies obtained most of their capital financing in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
or the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. At the end of the War, St. James Street grew rapidly and although by the 1920s there were stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
s 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...
, 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...
, Calgary
Calgary
Calgary is a city in the Province of Alberta, Canada. It is located in the south of the province, in an area of foothills and prairie, approximately east of the front ranges of the Canadian Rockies...
and Vancouver
Vancouver
Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
, St. James Street's stock brokerage houses
Stock broker
A stock broker or stockbroker is a regulated professional broker who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors...
and the Montreal Stock Exchange were the most important in all of Canada. At the time of its construction in 1928, the Royal Bank of Canada
Royal Bank of Canada
The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
's new headquarters at 360 St. James Street
Old Royal Bank Building, Montreal
Tour de la Banque Royale is a skyscraper at 360 Saint-Jacques Street in Montréal, Quebec. The 22-storey neo-classical tower was designed by the firm of York and Sawyer, and was the tallest building in the British Empire, and the first building in city taller than Montréal's Notre-Dame Basilica...
was the tallest building in the British Empire
British Empire
The British Empire comprised the dominions, colonies, protectorates, mandates and other territories ruled or administered by the United Kingdom. It originated with the overseas colonies and trading posts established by England in the late 16th and early 17th centuries. At its height, it was the...
. The St James St. area was also the head office of the Bank of Montreal
Bank of Montreal Head Office, Montreal
The Bank of Montreal's Head Office is located on Saint Jacques Street in Montreal, Quebec, Canada, across the Place d'Armes from Notre-Dame de Montréal Basilica...
, and the informal head office of the Bank of Nova Scotia. It was also home to the major brokerage houses such as Nesbitt, Thomson and Company
Nesbitt, Thomson and Company
Nesbitt Thomson and Company is a former Canadian stock brokerage firm founded in 1912 by Arthur J. Nesbitt and Peter A. T. Thomson. The company was headquartered on St. James Street in Montreal, Quebec and its success helped make the area the financial centre of Canada.In 1987, Nesbitt Thomson was...
, Pitfield, MacKay, Ross, Royal Securities Corporation
Royal Securities Corporation
Royal Securities Corporation Limited was a Canadian stock brokerage firm founded in Halifax, Nova Scotia in early 1903 by John F. Stairs, its first president. The company was the first brokerage firm to be opened east of Montreal, Quebec, the then financial center of Canada.A prominent and...
and others.
Some of the companies, past and present, located on St. James Street are:
- 50 : Ottawa Hotel, MontrealOttawa Hotel, MontrealThe Ottawa Hotel in Montreal, Quebec, Canada was built in 1845 at 50 St. James Street by George Hall. It is a late 19th Century example of an attempt to build a skyscraper. Hall had previously owned a hotel by the same name located at the corner of McGill and St...
- 100 : New York Life Insurance Company
- 105-107 : Royal Trust
- 119 : Bank of Montreal main Montreal branch
- 201-214 : Canadian Pacific Express
- 210-212 Yorkshire Insurance Co.
- 225 : National Trust Co.
- 231-235 : Montreal Star
- 240 : Guardian Trust Co. - The Dominion BankThe Dominion BankThe Dominion Bank was a Canadian bank based in Toronto and incorporated in 1869 that merged on February 1, 1955 with the Bank of Toronto to form the Toronto-Dominion Bank. -History:...
- 244 : Royal Securities Corporation
- 249-251 : Jones-Heward Financial Services
- 262-266 : Montreal City and District Savings Bank
- 265 : Canadian Bank of CommerceOld Canadian Bank of Commerce Building, MontrealThe Canadian Imperial Bank of Commerce Building is a building at 265 Saint-Jacques Street in Montreal, Quebec, Canada.-History:The building was erected in was built in 1906-1909...
- 275 : Canada LifeCanada Life Building, MontrealThe Canada Life Building in Montreal, Quebec, Canada was completed in 1895 by Buffalo, New York architect Richard Waite and is an example of a first-generation skyscraper....
- 278-288 : Molson BankMolson Bank Building, MontrealThe Molson Bank Building was built at the corner of St. Peter and St. James streets in Old Montreal as the headquarters of the Molson Bank in 1866 by order of founder William Molson . It was the first building in Montreal to be built in the Second Empire style...
- 355 : Merchants' Bank of Canada
- 360 : Royal Bank of CanadaOld Royal Bank Building, MontrealTour de la Banque Royale is a skyscraper at 360 Saint-Jacques Street in Montréal, Quebec. The 22-storey neo-classical tower was designed by the firm of York and Sawyer, and was the tallest building in the British Empire, and the first building in city taller than Montréal's Notre-Dame Basilica...
- 388-390 : Sovereign Bank of Canada then Union Bank and Commercial Union Assurance Co.
- 393 : Crown Trust Co.
- 437 : Eastern Townships BankEastern Townships BankEastern Townships Bank was founded in 1859 by Colonel Benjamin Pomroy . It was the first financial institution in the south-east of Quebec, an area known as the Eastern Townships, and issued its own banknotes....
then the Commercial Union Assurance Co. and the Bank of Nova Scotia
East of Place d'Armes
Place d'Armes
Place d'Armes is a square in Old Montreal quarter of Montreal, Quebec, Canada.-History:Place d'Armes is the second oldest public site in Montreal, it was called Place de la Fabrique when it was first developed in 1693, at the request of the Sulpicians, then later renamed Place d'Armes in 1721 when...
square, the street was home to two French-Canadian financial institutions, the Banque Canadienne Nationale
Banque canadienne nationale
The Banque canadienne nationale was a Quebec-based bank in Canada.In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen and dedicated to promoting their interests.In 1924, the Banque Nationale, which was...
and the Banque du Peuple.
Decline
A steady erosion of its status as Canada's financial centre began with the opening of the St. Lawrence Seaway in 1959, followed by the political uncertainty as a result of the election of the separatistQuebec sovereignty movement
The Quebec sovereignty movement refers to both the political movement and the ideology of values, concepts and ideas that promote the secession of the province of Quebec from the rest of Canada...
Parti Québécois
Parti Québécois
The Parti Québécois is a centre-left political party that advocates national sovereignty for the province of Quebec and secession from Canada. The Party traditionally has support from the labour movement. Unlike many other social-democratic parties, its ties with the labour movement are informal...
provincial government in 1976, all served as a catalyst for financial institutions to locate elsewhere. A number chose to gradually move their official head offices to Toronto, Ontario, while others shifted all future expansion to Toronto or other major Canadian centers. As a result, the St. James Street financial district has all but disappeared.
Recent history
Montreal Expos
The Montreal Expos were a Major League Baseball team located in Montreal, Quebec from 1969 through 2004, holding the first MLB franchise awarded outside the United States. After the 2004 season, MLB moved the Expos to Washington, D.C. and renamed them the Nationals.Named after the Expo 67 World's...
baseball club unveiled plans to build a new stadium in downtown Montreal, right off St. Jacques Street, just south of the Bell Centre
Bell Centre
The Bell Centre , formerly known as the Molson Centre , is a sports and entertainment complex in Montreal, Quebec, Canada. It opened on March 16, 1996 after nearly three years under construction...
. When provincial funding for the new building fell through, the Expos did not continue with their plan and sold the property to developers. That stretch of Saint Jacques is now undergoing considerable gentrification
Gentrification
Gentrification and urban gentrification refer to the changes that result when wealthier people acquire or rent property in low income and working class communities. Urban gentrification is associated with movement. Consequent to gentrification, the average income increases and average family size...
.
Today, the stretch of St. Jacques Street between McGill Street and Saint Laurent Boulevard is still notable mostly for its grand Neo-Classical
Neoclassical architecture
Neoclassical architecture was an architectural style produced by the neoclassical movement that began in the mid-18th century, manifested both in its details as a reaction against the Rococo style of naturalistic ornament, and in its architectural formulas as an outgrowth of some classicizing...
buildings on the part of the street running through the Old Montreal district. These include 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...
's domed Montreal Main Branch
Bank of Montreal Head Office, Montreal
The Bank of Montreal's Head Office is located on Saint Jacques Street in Montreal, Quebec, Canada, across the Place d'Armes from Notre-Dame de Montréal Basilica...
, the former headquarters of Royal Bank of Canada
Royal Bank of Canada
The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
, the Canadian Bank of Commerce
Canadian Bank of Commerce
The Canadian Bank of Commerce was a Canadian bank cofounded in 1867 by William McMaster. The Canadian Bank of Commerce opened in Toronto with a charter in 1866 that it purchased from the defunct Bank of Canada, which folded in 1858....
, the Molson Bank
Molson Bank
The Molson Bank was a Canadian bank founded in Montreal, Quebec, by brothers William and John Molson, Jr...
and the Canada Life Insurance Company. More modern buildings include the Montreal World Trade Centre and the Stock Exchange Tower
Tour de la Bourse
La tour de la Bourse is an International Style skyscraper by Luigi Moretti and Pier Luigi Nervi at 800 Victoria Square in Montreal, Quebec, connected by the underground city to Square-Victoria Metro Station...
.
Farther west, St. Jacques Street runs through the residential neighbourhoods of Little Burgundy
Little Burgundy
Little Burgundy is the informal name of a neighbourhood in the Sud-Ouest borough of the city of Montreal, Quebec, Canada.-Geography:...
, Saint-Henri
Saint-Henri
Saint-Henri is a neighbourhood in southwestern Montreal, Quebec, Canada, in the borough of Le Sud-Ouest.Saint-Henri is usually considered to be bounded to the east by avenue Atwater, to the west by Autoroute 15, to the north by Autoroute 720, and to the south by the Lachine Canal.- Description...
, Notre-Dame-de-Grâce
Notre-Dame-de-Grâce
Notre-Dame-de-Grâce , also nicknamed NDG, is a residential neighbourhood of Montreal located in the city's west-end. It is one of five districts of the borough of Côte-des-Neiges–Notre-Dame-de-Grâce...
and Lachine
Lachine
Lachine may refer to a number of places in the Montreal area:* Lachine, Quebec, the community* Lachine Rapids* Lachine Canal* The Fur Trade at Lachine National Historic Site...
. Lionel-Groulx
Lionel-Groulx (Montreal Metro)
Lionel-Groulx is a station of the Montreal Metro rapid transit system operated by the Société de transport de Montréal . It is located in the Saint-Henri area of the borough of Le Sud-Ouest in Montreal, Quebec, Canada. It is a transfer station between the Green Line and Orange Line.The station...
and Place-Saint-Henri
Place-Saint-Henri (Montreal Metro)
Place-Saint-Henri is a station on the Orange Line of the Montreal Metro rapid transit system, operated by the Société de transport de Montréal . It is located in the Saint-Henri area of the borough of Le Sud-Ouest in Montreal, Quebec, Canada ....
metro stations are located on St. Jacques in the Sud-Ouest
Le Sud-Ouest
Le Sud-Ouest is a borough of the city of Montreal, Quebec, Canada.-Geography:Le Sud-Ouest is an amalgam of several neighbourhoods with highly distinct histories and identities, mainly with working-class and industrial origins, grouped around the Lachine Canal...
borough; to the west, it gives access to Autoroute 20
Quebec Autoroute 20
Autoroute 20 is a major Quebec Autoroute, following the Saint Lawrence River through one of the more densely-populated parts of Canada, and is part of the Trans-Canada Highway. At , it is the longest Autoroute in Quebec...
in Notre-Dame-de-Grâce, where it passes through a largely industrial and large-surface commercial district at the top of the Falaise Saint-Jacques
Falaise Saint-Jacques
The Saint-Jacques Escarpment is a green space along an escarpment in the city of Montreal, west of downtown Montreal and adjacent to the neighbourhood of Notre-Dame-de-Grace...
. The McGill University Health Centre
McGill University Health Centre
The McGill University Health Centre is a network of teaching and community hospitals in Montreal, Quebec, Canada affiliated with McGill University....
superhospital will front Saint-Jacques in Notre-Dame-de-Grâce.