Bank of Hamilton facts for kids
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| Fate | Merged |
|---|---|
| Successor | Merged into Canadian Bank of Commerce (now modern-day Canadian Imperial Bank of Commerce (CIBC)) |
| Founded | 1872 |
| Founder | local businessmen |
| Defunct | 1924 |
| Headquarters | , |
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Key people
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Donald McInnes (first president) |
The Bank of Hamilton was a bank that started in 1872 in Hamilton, Ontario, Canada. It was created by local business people, led by Donald McInnes, who became its first president. Like other banks in Canada at the time, the Bank of Hamilton used to print its own paper money. They printed notes from 1872 until 1922. The bank later joined with another bank in 1924.
How the Bank Started
The Bank of Hamilton had a difficult beginning. In the summer of 1879, it almost went out of business. This happened when six other banks nearby had to stop working because they were having money problems. On August 1, 1879, things got even worse when the bank's main office burned down. But even with these challenges, the bank managed to grow and do well.
The bank started to expand across Canada. On July 29, 1896, the first Bank of Hamilton branch opened in Winnipeg. By December 1898, six more branches were open in Manitoba. This was the start of a big growth period in Western Canada. Between 1898 and 1910, the Bank of Hamilton opened 128 new branches. These were located in Ontario and across Western Canada. By 1928, the bank had grown to 152 branches in total.
For many years, Canadian banks like the Bank of Hamilton printed their own money. However, the Bank of Canada was created in 1934. After that, banks no longer had the right to print their own currency.
Growing Bigger
By 1905, the Bank of Hamilton was doing so well that it decided to make its main office much larger. They added eight more floors to the building. This was a big deal because the bank's headquarters became the first skyscraper in Hamilton. It was located at the corner of King and James Street.
This tall building even caught the eye of Harry Gardiner, who was known as the "Human Fly." He was famous for climbing buildings. On November 11, 1918, he climbed the Bank of Hamilton building to celebrate the end of World War I.
The Bank of Hamilton also had its own ice hockey team. This team played in the Winnipeg Bankers' League. The players were employees from the local bank branches. The team was coached by the branch manager, H. J. Sterling.
Bank Buildings
The Bank of Hamilton building in Winnipeg, Manitoba was built between 1916 and 1918. Today, this building is recognized as a historical place in Canada. It is listed on the Registry of Historical Places of Canada.
Joining Another Bank
The Bank of Hamilton joined with the Canadian Bank of Commerce on January 2, 1924. The Canadian Bank of Commerce later became part of the Canadian Imperial Bank of Commerce, which is known as CIBC today. The Bank of Hamilton was one of the last banks in Canada that was not based in Toronto or Montreal.
Sadly, 35 members of the Bank of Hamilton who worked at branches across Canada died during their service in World War I. Their names were written on a special bronze memorial plaque. This plaque is now displayed at the former Bank of Montreal building in Hamilton, Ontario.
Photo gallery
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The Bank of Hamilton headquarters around 1890
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The Bank of Hamilton headquarters after its expansion in 1905
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A $5 note issued by the Bank of Hamilton in 1892
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A $5 note issued by the Bank of Hamilton in 1914
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A newspaper advertisement for the bank from 1907
