Volume 2 - ElectricCanadian.com

22 HISTORY OF THE BANKbook has also gone. We had orders to-day from Montrealfor $14,000. We will certainly have all the stock subscribedthis month." On March 19 Mr. Strathy was informed thatthey had progressed so far beyond expectations that it mightbe necessary to cut down London's original allotment of$150,000. "This week will, I think, from present appearances,"wrote Mr. Greer, "complete the thing, so that it may besaid that in one month our stock has been all subscribed."Five days later, the London office was informed that TheCanadian Bank of Commerce had been obliged to rejectapplications to the amount of $50,000, and that the subscriptionbooks had been closed. The institution selected forthe necessary deposit of $100,000 was the Bank of Montreal.On May 9, 1867, the president, Mr. McMaster, writing to Mr.William McEwan, general manager of the London and CountyBank, London, Eng., 12 was able to say: "The charter underwhich The Canadian Bank of Commerce was organized wasgranted by the Canadian legislature last autumn. The capitalis $1,000,000 in shares of $50 each. It has all been subscribedand about $400,000 is already paid up. The balance will bepaid within the present year in the event of its being calledup. Our shareholders number about six hundred, and a greathad a brief and unsuccessful career.According to Breckenridge (The Canadian BankingSystem, p. 310) its fortunes were blighted by the sinister influence of a speculativepresident, who, on the eve of selling its business to the Bank of Toronto, decamped tothe United States. It was wound up under an Act passed for the purpose in 1888.10Verschoyle Cronyn (1833-1920), son of the late Rt. Rev. Benjamin C. Cronyn,Bret Anglican bishop of the diocese of Huron, was born in London, Ont., and educatedat the University of Toronto. He studied law and was called to the bar in 1860,practising his profession in his native city. In 1902 he was made a K.C."William Sisson, J.P., was an old and prominent resident of Port Hope, havingsettled there in June, 1823. He was a native of Dutchess County, New York State.He commenced the manufacture of leather in Port Hope, and carried on business theresuccessfully for many years, retiring in 1852. During the Rebellion of 1837 he was incommand of a troop of cavalry, which he had been instrumental in raising. He wasTreasurer of the Durham Agricultural Society for forty years, and an active promoterof the first Mechanics' Institute in Port Hope. He died in Port Hope on February 3,1885."Now (1922), the London County Westminster and Parr'i Bank, Limited.