The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1901-04-19
The Canadian Bank of Com
merce.

n would lie impossible 70 adequate
~ treat Of the great Northwest
region. Including Washington. ore.
Eon. British Columbia. Alaska and
the Yukon Territory. without special
mention Of that powerful financial
Institution. the Canadian Bank OF
Commerce. which throughout this
country has become tYpieally repre-
sentative Of strength. usefulness and
helpfuinens. In a spirit Of giving
credit 10 whom credit IL due. u must
be justly Acknowledged that no I'm
anciai institution. American or for
elgn. has done more for the develop.
ment Of this section Of the world
than has the Canadian Bank q Com
merce. This statement. OF course.
must be considered inclusive Of tn
constituent Bank Of British Column
hla which on January LIST Of the
present yeaf-th. first day ~ the
new century united its existence
with the Canadian Bank OF Com
merce under the name % the latter
bank. The Bank Of British Column
hia had occupied leading position
tlge in financial circles the world
over. But its headquarters were in
London. and owing To the incouvoni=
snCe 81 administering It's affairs by
"a board Of directors on the other side
% the Atlantic, u was decided best
60 make overturrs for merger with
a chartered bank OF Canada. and
the Canadian Bank Of Commerce.
whose Eastern reputation Is second
60 none. and whose business ln this
western country was already Of
a highly satisfactory character.
was selected as the institution
open negotiations After thor
ouRh inspection and verlfcntion y
the assets. cash on hand. etc. 81 the
Rank Of British Columbia by Mr.. J.
~ piummer. the Assistant General
Manager of the Canadian Bank Of
Commerce. aided 10y an able star.
the deal was finally contaminated
hy which these two great banks
became one. This consolidation
has made the Canadian Bank OF
Commerce Veritable Gibral-
tar Of finance. Il has now
HiNty-seVeu branches. the largest
number Of branches possessed by
any financial institution OF the New
World. IL has "a pRld-up capital in
gold coin Of 5000, 600. and reserve
fund OF $4,000. 900 II had deposits
on January 81 OF So. los. $50, with
cash resources OF tts,aiS,Aai, and its
total aesets reached the large sum
OF Sos, Saa. f4G. The stockholders, of
whom there are over 900. and who
include some OF the most prominent
people on both continents. are sub
tcct to double liability, 80 that In the
ordinary course OF human events de-
posltors are secured absolutely.
II Is In connection with its north
ern business that the Canadian Bank
OF Commerce has wen especial fame
for a. was ono Of the pioneers In
this business. When Il located its
branch I'm Dawson, Yukon Territory,
II marked the northernmost point In
the North American continent-if
not In the world-that had yet been
benefited by banking facilities. This
was I'm June. 1898. before the
opening up OF the railroad through
White Pass. and when the region
was almost inaccessible TO inter
course with the outside world. The
Canadian government recognized the
enterprise. as well as the solidity
aud standing OF the bank. by max
ing &c its exclusive financial agent
for the Klondike region. Its opera
lions I'm connection with the pur-
chase Of gold dust and nuggets, and
the issuing OF drafts and letters Of
credit with this region, are as might
be supposed, enormous I'm scope. In
fact one third OF the total gold treat
ed by the assay office at Seattle In
1890, and one-uuarter of that OF 1900
was sold II by this bank. The
bank next established agencies at
White Horse, Skngway and Atlin.
which, with It's branches at Van
couver. Victoria, Seattle, Port
land; san Francisco, New York and
Landnn. EnslAnd, tnRsthRr with its