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1920 - 1939


Banking Doldrums: Sagging Profits and Credibility

360 St. James head office, c. 1958
Constructed in 1928, the architectural design of 360 St. James symbolized the strength, stability and permanence of Canadian banking. Royal Bank had leveled a small city block to make room for this breath-taking skyscraper and, upon its completion, the bank finally had an appropriate "showcase" building worthy of Canada's largest bank. 360 St. James has been recognized as one of Montreal's heritage buildings.

Cornerstone of new head office building, April 22, 1927
Sir Herbert S. Holt, Royal Bank's president, declared the cornerstone "well and truly laid." In the cornerstone is a copper box time capsule containing copies of Montreal's newspapers, various bank publications, a 1927 Royal Bank calendar, list of bank shareholders, Canadian postage stamps, timetables for both Canadian Pacific Railway and Canadian National Railway, a sampling of Canadian copper, silver and gold coinage and both Canadian and Royal Bank paper money. From left is seen part of Morris Wilson (assistant general manager), followed by bank directors: the Honorable R.B. Bennett (later Canadian prime minister), Robert Adair, G.H. Duggan A.J. Brown, Hugh Paton, Sir Herbert Holt, Charles Neill (vice-president and general manager) and Edson Pease (vice-president).


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05/28/2013 19:04:26