Volume 2 - ElectricCanadian.com

1901 TO 1914 241taken over. There had been rumours from time to time thatthe bank was to be taken over by The Canadian Bank ofCommerce exclusively, and the officers of the various brancheshad been instructed to deny these reports.During the period of keen competition between the banksto obtain business at their newly established western branches,many customers had formed the habit of borrowing simultaneouslyfrom banks in different towns. It was now discoveredthat the practice had developed into something likea science, the customer playing a game of battledore andshuttlecock between his various accounts. Numerous losseshad been incurred as a result, and to put an end to the practice,the branches of The Canadian Bank of Commerce werecautioned against lending money outside the territory properlytributary to their towns.In June, 1908, it was announced that the bank's businessbetween Lake Superior and the Rocky Mountains would beplaced under the control of a superintendent at Winnipeg, aplan which has since been extended with excellent results.Mr. John Aird, then manager at Winnipeg, was appointedto the new position with the title of superintendent of CentralWestern branches, retaining at the same time his position asmanager of the Winnipeg branch. About the same time thegrowth of the Pension Fund became such that it was deemedwise to transfer its management to trustees for the purpose ofsupervising its investments and administration under theBoard of Directors. Five of the senior officers of the bankwere appointed the first trustees.A contrast to the state of apprehension which had prevailedduring the previous summer is afforded by the announcementmade to the managers at the end of August, 1908, thatthe financial situation was once more comfortable; and thatwhile money had not become generally plentiful in Canada,pronounced ease was looked for by the following spring. Thebank was therefore willing to consider proposals for any newbusiness of a high class.Just before the close of the financial