The Sterling Bank is one of the youngest of Canadian financial
institutions. It was incorporated by special Act of Parliament in 1905 and began business
on the first day of May of this year. The policy of the Bank is to confine its branches to Ontario
until the deposits increase to such an extent as to warrant spreading over a wider area, and so far no
less that 33 branches have been opened in the Province. At the end of the second month the
showing is remarkable, and has never been exceeded by any chartered bank in the Dominion.
The authorised capital of the Sterling Bank is $1,000,000.
The directors include some of the most prominent successful business men in Canada. G. T. Somers,
President of the Ontario Securities Company, is President; W. K. George, ex-president of the Canadian
Manufacturers' Association, is Vice-President, and John H. Tilden, Vice-President of the
Gurney-Tilden Co. ; C. W. Spencer, General Manager of the
MacKenzie
&
Mann
Railway lines, and others
of equal standing figure on the governing body. F. W. Broughall is General Manager.
With such men at the head of affairs it is little wonder that the confidence of the public
was so readily enlisted, and that the Sterling Bank is rapidly coming to the front and is
highly regarded by all classes of business men for its enterprising methods.
George F. Ellis is manager at Cornwall, which is headquarters
for this district. Under his supervision branches have been established at Newington, Mille Roches,
L'Orignal and Mountain. F. W. Doherty is in charge of the agency at Mille Roches and C. W. Vanallen at
Newington.
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