INTERESTING BANKING DEVELOPMENT.
There has been a distinctly interesting banking development during the past month in the shape of an intimation that a petition is being presented in the Canadian Parliament to enable Barclays Bank (Dominion, Colonial and Overseas) to open in Montreal. To be strictly accurate, however, I suppose I should express the matter somewhat differently, "because under Canadian law it is necessary to form a separate company which will be known under the title of Barclays (Canada) Limited. Hitherto the bank has only been repre- sented in Montreal by a subsidiary concern acting as an agency, whereas the new bank is to be incorporated under the Canadian Bank Act, and it is understood that Sir Robert Borden has accepted the office of President. The bank will have a commencing capital of the equivalent of £100,000; with a reserve for a corresponding amount.
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