Volume 2 - ElectricCanadian.com

452 HISTORY OF THE BANKwas dropped in 1890. Mortgages and real estate other thanbank premises were separated from each other. At the foot ofthe return were given in the form of memoranda the averageamounts during the month of the liabilities of directors andtheir firms, and of specie and of Dominion notes held. Theof the chief accountantreturns bore the additional signatureas being the officer primarily responsible for their preparation.These changes came into effect in July, 1880. The Ministerof Finance was also empowered to call for special returns,whenever necessary in his judgment, in order to disclose thecondition of a bank.The Act also contained a broader definition of the phrase,"goods, wares and merchandise," as used in the pledge sections.This was extended so as specifically to include saw-logs, petroleum,crude oil, "and other articles of commerce." The terms,bill of lading and warehouse receipt, were defined as includingthe various forms of receipts, specifications, acknowledgmentsand certificates heretofore mentioned in the Act, a changewhich made for brevity and clearness. The list of personsauthorized to borrow from a bank on the security of theirown goods by issuing a warehouse receipt was enlarged toinclude a saw-miller, manufacturer of timber, curer or packerof meat, tanner, or purchaser of agricultural products. Theright of a bank to acquire and hold any warehouse receipt orbill of lading as collateral security was confined to the case ofsecurity "for the payment of any debt incurred in its favourin the course of its bankingbusiness." Provision was madefor the exchange of a bill of lading for a warehouse receiptcovering the same goods, and vice versa. Bank stocks werespecially excepted from the list of securities on which a bankmight lend. The improper assumption or use of the title of"bank" was made a misdemeanour and thereby becamepunishable by imprisonment. Bank-notes were made a firstcharge on the assets of the issuing bank, and the power toissue notes for $4 was taken away, the minimum being nowplaced at $5. The denominations of bank-notes were further