Volume 2 - ElectricCanadian.com

1867 TO 1901 107chosen to succeed Mr. Elliot as vice-president. The Hon.William McMaster died in September. The Hon. S. C. Woodhad resigned in July, just after his re-election, and it was thereforedecided not to elect successors to Messrs. McMaster andWood, but to reduce the number of the Board of Directorsfrom ten to eight. The Board as then constituted consistedof Mr. Henry W. Darling, president; Mr. George A. Cox,vice-president; Messrs. George Taylor, William B. Hamilton,James Crathern of Montreal, John Irvine Davidson, WilliamGooderham, and Matthew Leggat of Hamilton.During the "eighties" there was very little increase in thenumber of branches of the bank. In fact, had it not been forthe decision of the new management in 1887 to try the experimentof opening branches in the more important retail centresof the city of Toronto, the number of branches opened duringthe decade would not have greatly exceeded the number closed.In 1880, 1882, 1884 and 1885, no new branches were opened, astate of things which had no parallel in the previous historyof the bank. In 1881 a branch was opened in Port Hope andan agency in Durham, the latter in charge of the Walkertonmanager, but these offices did not prove successful and wereclosed a year or two later. In September, 1881, an agency wasopened in the village of Ayr in charge of Mr. John Wyllie,formerly manager for the Merchants Bank of Canada at thatplace, who had for a time carried on a private banking businessin the village. In 1883 the Lucan branch was moved toParkhill, as already mentioned. In 1886, after several yearsof very low rates for money in the United States, which indistillers. Mr. William Gooderham, the son, was connected with the firm in his earlieryears, but left it to take up other pursuits. He was for a time managing director of theToronto and Nipissing Railway.3Matthew Leggat (1829-1910) was a native of Glasgow, Scotland. After comingto Canada he entered into partnership with the late A. T. Wood, M.P., of Hamilton,Ont., in the wholesale and retail hardware business. He was for many years presidentof the Landed Banking and Loan Company, Hamilton, and a director of the TrustsCorporation of Ontario, Toronto. He was also for some years president of the HamiltonBoard of Trade.