Volume 2 - ElectricCanadian.com

510 HISTORY OF THE BANKof guarantee policies issued by the European AssuranceSociety. The list is interesting, in that it presumably givesthe names of the original members of the staff of the bank.It was as follows:Greer, A $10,000Barwick, H. C 12,000Strathy, H. S 8,000Sampson, W. A 6,000Scadding, H. S 6,000Boswell, W. G 6,000Fitzgerald, W 4,000Bolster, L 2,000Plummer, J. H 3,000McDonald, H. F 3,000LePan, L. A 3,000Curtis, E. G 3,000Fuller, William 3,000Blackwell, J 2,000The charter required that the cashier should furnish bondsfor $20,000, and this Mr. Greer made up by a private bondfor $10,000.While the guarantee policies of the European AssuranceSociety were thus accepted by the bank at the outset, forsome years subsequently personal securities appear to havebeen more commonly taken. Then the policies of theCitizens' Guarantee Company and the Canada GuaranteeCompany appear in the list of those acceptable to theBoard. For a time some doubt appears to have been feltas to whether the premiums on bonds issued by companiesshould be paid by the insured or by the bank. Accordingly, onApril 14, 1869, the Board resolved that those officers who wereunable in future to furnish satisfactory personal sureties, andwho were in consequence obliged to apply to the guaranteecompanies, should pay the premiums themselves. Later, onApril 15, 1871, the Board again ruled that one-third of thepremiums on guarantee bonds, "being the difference in cost