Volume 2 - ElectricCanadian.com

THE BANK DURING THE WAR 383almost entirely the work of the last twenty years; during theprevious fifteen years the bank had found it difficult to domore than earn a modest dividend on its capital.This period,in the case of The Canadian Bank of Commerce, formed theinterim between the days when capital and note circulationwere the basis of a successful banking business, and theconditions existing now, when deposits so largely overshadowthese items. 3 While the slow growth of the deposits during theearlier years reflected in some measure the difficulties throughwhich the bank passed and from which it emerged so successfully,they were due mainly to general conditions in Canada,as will be seen if the deposits of all the banks from 1887 to1910 are compared with those of The Canadian Bank ofCommerce. The figures are given in the following table:All banks The Canadian Bankin Canadaof Commerce1887 $112,656,985 $ 9,985,0401888 125,136,473 11,009,5561889 134,650,732 12,089,8741890 135,548,704 12,493,8831891 148,396,968 15,171,4291892 166,668,471 17,000,184of the amalgamated banks; it was simply the surplus value of the assets of thosebanks at the valuation at which they were placed on the books of The CanadianBank of Commerce.SOUBCK.