Volume 2 - ElectricCanadian.com

1867 TO 1901 87On Monday forenoon, the llth instant, the run on the Bankof Hamilton was visibly diminishing, and in the afternoon itentirely ceased.I am now glad to be able to reportthat theexcitement in Montreal and Hamilton has wholly disappeared,and that the usual quiet has been fully restored." In themidst of all these happenings Mr. R. B. Angus, 1 generalmanager of the Bank of Montreal, resigned, to take the managementof the St. Paul, Minneapolis and Manitoba Railway, andwas succeeded by Mr. C. F. Smithers. 2 In the excited stateof public feeling that prevailed, this change gaverise to acrop of rumours affecting the solvency of even the strongestbanks. During all these happenings and surmisings it maysafely be assumed that the daily task of the Canadianbanker was no easy one, but The Canadian Bank ofCommerce held on its way, and apparently profited to someextent by salvage from the wrecks all around it. The depositsat many of the branches increased considerably, and inMontreal, especially, the bank acquired a number of first-classaccounts.As already stated, the Hon. William McMaster was absentin England during this time of financial shipwreck, havingwith the Bank ofsailed about the middle of July to negotiateScotland for some alterations in the arrangement between thetwo banks.to the condition of commercial matters inOwingRichard Bladworth Angus (1830-1922), a native of Bathgate, Scotland, began hiscareer in the Manchester and Liverpool Bank, and coming to Canada in 1857, enteredthe service of the Bank of Montreal.In 1869 he succeeded Mr. E. H. King as generalmanager of that institution, resigning in 1879 to become vice-president of the St. Paul.Minneapolis and Manitoba Railway. Mr. Angus was a member of the syndicate formedin 1885 to construct the Canadian Pacific Railway. From 1910 to 1914 he waspresident of the Bank of Montreal. He was a director of that bank and of the CanadianPacific Railway Company, as well as of several other important companies.Charles F. Smithers (1822-87) was born in London, England, and coming toCanada in 1847 entered the service of the Bank of British North America, from whichhe resigned in 1858 to take a position in the Bank of Montreal. In 1879 he succeededMr. R. B. Angus as general manager, and two years later, on the retirement of Mr.George Stephen, subsequently Lord Mount Stephen, he became president. Mr.Smithers was a strong advocate of the American system of banking, and the securingof the bank-note issues by government bonds.