Volume 2 - ElectricCanadian.com

1901 TO 1914 215January 31, 1901, to establish a stock register and transferoffice in London, England, for the convenience of the largebody of shareholders resident in the British Isles, who hadformerly been shareholders of the Bank of British Columbia.Another was the issue of a revised list of specimen signaturesof those officers of the bank who were authorized to signcircular letters of credit. This included the newly-acquiredbranches outside Canada, but in the light of later history,its chief interest lies in the fact that, even after includingthe former offices of the Bank of British Columbia outsideCanada, the list covered only two pages of letter paper,whereas to-day the bank issues a booklet containing abouttwenty-two pages of signatures. Another change of thesame significant character was that thenceforth circular andother letters of credit were drawn on the bank's own Londonoffice. Up to this time they had been drawn on the Bankof Scotland, as the London agents of The Canadian Bank ofCommerce. A very marked extension, also, of the foreignbusiness of the bank took place as one result of the acquisitionof the Bank of British Columbia, and the list of its foreigncorrespondents was considerably increased.On January 17, 1901, a change was made in the Chicagocorrespondents of The Canadian Bank of Commerce, theNorthern Trust Company replacing the Corn ExchangeNational Bank. During the summer of 1902 the bank openedan account with the Bank of England. The transactions ofthe London office, and the diverse interests of the bank inthe business of the world's financial centre, had assumedproportions which warranted the openingof an account withthis honourable institution, the banker's bank par excellence.The relations between the two banks have always beenexceedingly agreeable and cordial.In June the shareholders decided to change the fiscal yearof the bank, which had for some years terminated on May 31,so as to end on November 30, and the second Tuesday inJanuary was fixed as the date for the annual meeting. The