Volume 2 - ElectricCanadian.com

366 HISTORY OF THE BANKpayable by those who were supposed to be able to afford topayA it.marked innovation in banking practice was introducedabout this time. Book-keeping machines were adopted forwriting the ledgers at a few of the larger branches, thecustomer being furnished with a typewritten statement ofhis account each month, instead of a pass-book showing alltransactions. This improvement did away with the necessityof writing up pass-books at the end of the month, a piece ofdrudgery of which the older generation of bank officers hadits full share, involving as it did, at the end of each month,many hours of night work, sometimes till long after midnight.Early in the year information reached the Chief Commissionerof Dominion Police that there had been a materialincrease in the number of Canadian bank drafts forwardedthrough the mails to persons in neutral countries, withoutcorrespondence or anything else to show the purpose for whichthe money was intended, the inference being that it was forre-transmission to an enemy country. The banks were thereforerequested by him, before selling drafts on neutral countries,to obtain an explanation of the purpose for which the moneywas to be used.On April 15, 1917, the Hon. Sir Lyman Melvin Jones,who had been a director since January, 1902, passed awayafter a long illness. He was president of the Massey-HarrisCompany, Limited, and an industrial leader of rare ability andgreat business acumen. In alluding to his death the directorsplaced on record that for more than fifteen years his counselhad been keenly sought and his judgment highly regardedby the directors and executive of the bank. Sir Lyman Joneswas succeeded by Mr. Charles Newton Candee, president andmanaging director of Gutta Percha and Rubber, Limited. 1Charles Newton Candee (b. 1860) is a native of Rochester, N.Y. He enteredbusiness as a clerk in the wholesale and retail rubber establishment of O. W. Clary,Syracuse. N.Y., in 1879.In 1886 he came to Toronto and was appointed assistantmanager of the Gutta Percha and Rubber Manufacturing Company. Limited, ofToronto, now Gutta Percha and Rubber, Limited, of which company he is nowpresident and managing director.