Volume 2 - ElectricCanadian.com

1901 TO 1914 219manner. In 1901 the volume of business of this class inCanada was limited, but it was felt that it was destined togrow. It was therefore thought imperative that the branchmanagers and the public should know that when the bankacted as agent for issues of stock or bonds it did not in any wayintend to recommend to the public the securities, and couldassume no responsibility for them whatever moral or financial.In 1902, for the first time in the bank's history, the annualmeeting was held in January, in accordance with the by-lawpassed the year before. At this meeting it was decided toincrease the number of directors from nine to ten, the maximumnumber then permitted by the Bank Act, and as a vacancyhad been created by the untimely death of Mr. Walter E. H.Massey, the quota was completed by the addition of two wellknownCanadian business men to the directorate. One wasthe late Hon. Sir Lyman Melvin Jones 1(who had not at thattime been knighted), a business associate in the Massey-Harris Company of the deceased director. The other was thelate Senator Frederic Nicholls, 2 who played a prominent partJThe Hon. Sir Lyman Melvin Jones (1843-1917), a native of the county of York.Ontario, commenced his business career in the employ of A. Harris, Son and Company,Brantford, manufacturers of agricultural implements. He became a partner in thefirm in 1872 and in 1879 was sent to Winnipeg as its western manager; later on hebecame general manager. During his stay in Winnipeg he served as alderman andmayor of the city, and as vice-president of the Board of Trade. He was Treasurer ofthe Province of Manitoba in the Greenway Cabinet from January, 1888, to May, 1889.On the amalgamation in 1891 of A. Harris, Son and Company and the Massey ManufacturingCompany to form the Massey-Harris Company, Limited, he removed toToronto as general manager of the new organization and was also elected a director.In 1902 he became president of the company. He was called to the Senate in 1901and knighted in 1911.The Hon. Frederic Nicholls (1856-1921) was a native of England and waseducated in Germany. He came to Canada in 1874, and was prominently identifiedwith the development of electricity in this country. He was the organizer of theToronto Incandescent Electric Light Company, the first company in Canada to adoptthe underground system of electric distribution. For seven years he held the office ofsecretary of the Canadian Manufacturers' Association. He was also prominent in theiron and steel industry, being for many years vice-president of the Dominion Iron andSteel Company. He was president and general manager of the Canadian GeneralElectric Company, Toronto, as well as a director of many other railway and industrialconcerns.