Volume 2 - ElectricCanadian.com

56 HISTORY OF THE BANKas scrutineers of the vote. The number of votes cast was1,885.The assistance that had been rendered to the Gore Bankin 1868 had suggested to other banks involved in difficulties ameans of obtaining temporary relief, and on May 21, 1869,the cashier reported to the Board that the president and cashierof the Royal Canadian Bank had approached him on theprevious evening with a proposal that The Canadian Bankof Commerce should advance $50,000 to that bank on thesecurity of its bills receivable. The Board declared its willingnessto render the assistance asked, provided that the otherbanks which had assisted the Gore Bank in 1868 also joined inthe advance to the Royal Canadian Bank, and that the paperoffered by the latter was approved. The president and vicepresidentwere requested to confer personally with the officersof the Royal Canadian Bank on the subject. Apparently itwas not possible to reach an agreement, as the assistanceasked for was not given, and the Royal Canadian Bank wasforced to suspend payment.It was able to resume businessagain some months later.In September, 1869, the cashier, Mr. R. J. Dallas, retiredowing to ill-health, and Mr. H. S. Strathy, manager of theLondon branch, was appointed in his stead. He held officefor upwards of three years, when he too resigned from theservice of The Canadian Bank of Commerce, to engage inbusiness in Montreal.A minute of November, 1869, records that a letter fromthe Mayor of Toronto was read to the Board asking for asubscription towards the expenses incurred by the GeneralCommittee in charge of the arrangements for the reception ofHis Excellency the Governor-General, and H.R.H. PrinceArthur, Duke of Connaught. It is evident that in those daysdirectors were not disposed to take as liberal an attitudetoward such requests as has characterized them in later times.They decided that as the Board had expended about $200 inilluminating the bank building and many of the shareholders