Volume 2 - ElectricCanadian.com

THE CHARTER 23many of them stand very high, both as regards wealth andposition. I own 500 shares, amounting to $25,000."Though The Canadian Bank of Commerce has never beena one-man institution, no history of the enterprise would beof the Hon.complete without some account of the personalityWilliam McMaster, to whose initiative it owed its foundation.Mr. McMaster was a native of Ireland and had his rightfulshare of the dour and steadfast characteristics associated withthe Ulsterman. He was born in County Tyrone on December14, 1811, the son of a linen merchant, and was reared in hisfather's trade. He had passed his thirtieth year when heemigrated to Toronto and secured a position with his uncle,Mr. R. Cathcart, a leading dry-goods merchant on YongeStreet. A 1year later, in 1844, he was taken into partnership,and subsequently bought out the business, which became thatof William McMaster and Nephews, wholesale dry-goodsimporters. As the years went on, his activities became chieflyfinancial. In addition to his banking interests, he was closelyconnected with railway development in Upper Canada andwas chairman of the Canadian Board of the Great WesternRailway up to the time of its amalgamation with the GrandTrunk Railway. His death on September 22, 1887, in hisseventy-sixth year, came suddenly, for he fainted while addressinga meeting of the Board of McMaster University, which hehad founded, and within a few hours passed away of heartfailure. Throughout his life he was a strong supporter of theBaptist communion, and to his beneficence that body owesmuch of its standing in the educational field. McMaster!In a letter dated March 7, 1867, James Dougall, of Windsor. Ont., a well-knownmerchant, who acted also as agent of the Commercial Bank at that place, writes to Mr.Greer: "I am not personally acquainted with Mr. McMaster, but probably I was thecause of his coming to this country, as in 1828 or 9 I got acquainted with his uncle,the late Mr. Robert Cathcart, the founder of the house. He was then a clerk withDaley and Tannahill of Niagara. I ... advised Mr. Cathcart to leave them andbegin for himself . . . He did so and purchased all his goods from me as long as Iremained in Toronto (I had the first wholesale store established there), and prospered,bringing out his nephews to aid him afterwards."