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Bank of Toronto. Toronto the Bank of Toronto the Bank of Toronto THE BANKOF TORONTO. TORONTO' THE BANK OF TORONTO. TORONTO THE BANK OF TORONTO THE BANK OF TORONTO DIRECTORS W. G. GOODERHAM, PRESIDENT, PROCEEDINGS OF THE President Canada Permanent Mortgage Corporation. President Gooderham & Worts, Limited. President Manufaetvrerr Life Insurance Co. SIXTY-THIRD ANNUAL GENERAL MEETING JOSEPH HENDERSON, VICE-PRESIDENT. T~~~~~~,Director Confederation Life Association. { Director Canadian Mortgage Investment Ca. ~TH President Rolph-Clark-Stone, Limited. WEDNESDAY. JANUARY, 1919 WILLIAM STONE, Director Wm Stone Sons, Limited,Waadstock and TORONTO. Ingerroll. " Manufacturers Life Insurance Ca. 1President John Macdonald & Ca., Limited (Whale- The Annual General Meeting of the Stockholders of The Bank (being sale Dry Goods Importing House). JOHN MACDONALD, the Sixty-Third since the commencement of business) was held, pursuant Director Confederation Life Association. " Guarantee Ca. of North Amelia. to the terms of the Charter, at the Banking House of the Institution, corner King and Bay Streets, Toronto, on Wednesday, 8th January, Igrg. TORONTO.Dmetor GoodrrhPm 8r Worts, Limited. ' Confederation Life Association. Moved by Mr. JOHN MACDONALD,seconded by Mr. W. I. GEAR, President Lake of the Woods Milling Company. and " New Bmnswiek Railway Company. BnlG.-GaN' F. S' Resolwed-That Mr. W. G. Gooderbam be Chairman of this Meeting, of London. and that Mr. John R. Lamb be requested to act as Secretary. Cbairman Temiskaming and Northern Ontario Railway Commission, Moved by Mr. WILLIAM STONE, seconded by Mr. A. H J. L. ENGLEHART, President Crown Savings & Loan Co. Vice-president London & Western Trust Ca. CAMPBELL,and " " Imperial Oil Co., Limited. Resold-That Messrs. George R. Hargraft and C. H. Taylor be President Cmm Trust Co. WILLIAM I. GEAR, Vice-President The Robert Reford Co., Limited. appointed Scrutineers, and that after the balloting they report to the Director Keewatin Flour Mills Co., Limited. Chairman. " Cairn Line of Steamships. Prerident Canadian Westinghouse Company, PAUL J. MYLER, Limited. The Secretary then read the Annual Report as follows :- Director Landed Banking & Loan Co. '< Dominion Foundlies &Steel, Limited. The Directors of The Bank of Toronto beg to present their Report for the year ending 30th November, 1918, accompanied by the Statement of the Bank's affairs and the results of the operations for the year. OFFICERS THOS. F. HOW, GntwdMawgcr. JOHN R. LAMB, Arrt. G-IJManw. D. C. GRANT, Chhf Zmpnfor. J. A. WOODS, Wertcrrr Supmpm~denf. 2 THE BANK OF TORONTO THE BANK OF TORONTO The production of war materials and supplies continued up to the close PROFIT AND LOSS ACCOUNT of the year, general business was good, and the Bank has had a year of The Balance at credit of Profit and Loss, on November 3oth, growth in all departments. 1917, was.. .......................................... $555,306 53 The Head Ofice and Branches of the Bank have been regularly inspected by the Inspection Staff, and at the Head Office the usual The Net Profits for the year, after making full provision for inspection of cash and securities has been made. all bad and doubtful debts, and deducting expenses, interest accrued on deposits and rebate on current Mr. G. T. Clarkson, C.A., the auditor of the Bank, has made his discounts, amounted to the sum of.. .................. 844,402 16 examination of the principal offices of the Bank, and his report is appended to the General Statement presented herewith. Mr. Clarkson's name will be submitted to the Shareholders at the Annual Meeting for re-appointment as Auditor. This sum has been appropriated as follows : The following Branches have been opened during the year :-Bethany, Markdale, and New Lowell, Ontario; Durban and Kenville, Manitoba; Dividend No. 146, Twoand three-quarters percent. .$137,5w 00 Stewart, Saskatchewan; and our Branch at Point St. Charles, Quebec, has Dividend No. 147, Twoind three-quarters per cent.. 137,500 00 been closed. Dividend No. 148, Two and three-quarters per cent.. 137,500 a, All of which is respectfully submitted. Dividend No. 149. Twoand three-quarters per cent.. 137,500 w $554- w W. G. GOODERHAM. pnridn1. War Tax on Circulation.. ...................... $50,~00 Transferred to Officers' Pension Fund.. ........... 25,000 oo Patriotic Fund and other War subscriptions.. .... 34200 ca Toronto General Hospital.. ...................... 2,000 oo Written off Bank Premises ...................... I 10,884 75 224084 75 Carried forward to next year.. .............................. 625,623 94 THE BANK OF TORONTO THE BANK OF TORONTO 30~~NOVEMBER LIABILITIES ASSETS Notes in Circulation.. ................................. $7,z70,61~oo Gold and Silver coin current.. $948,654 gr Deposits hearing interest, including interest Dominion Notes held.. ...... 10,473,528 oo accrued to date of statement... .......$49,534,482 27 Deposit in the central gold Deposits not bearing interest.. ............. 29,504792 23 reserves ................ 2,5ca,w m 79,0393274 50 Deposit with the Minister for the purposes of Balances due to other Banks in Canada.. ... 459,833 55 the Circulation Fund ................... Balances due to Banks and banking corres- Nates of other Banks.. ................... pondents in the United Kingdom and Cheques on other Banks.. ................. Foreign Countries .................... 1,052,919 56 Balances due by other Banks in Canada .... Balances due by Banks and banking corres- -- '3512,753 'I pondents elsewhere than in Canada.. ... Quarterly Dividend, payable 1st Dec., 1918.. 137,500 ca Dominionand Provincial Government Securi- Dividends unpaid.. ........................ 1,226 50 ties, not exceeding market value.. ...... -- 138,726 50 Canadian Municipal Securities and British, Acceptances under Letters of Credit.. .................... 621,m4 08 foreign and colonial public Securities other than Canadian .................. Railway and other Bonds, Debentures and $88,582,373 19 Stocks, not exceeding market value.. .. Capital paid up.. ......................... $5,ooo,000 ca Call and Short (not exceeding thirty days) Rest.. .................................. 6,000,000 w Loans in Canada, on Bonds, Debentures Balance of Profit and Loss Account carried and Stocks.. ......................... forward.. 625,623 94 ............................ Other Current Loansand Discountsin Canada 11,625,623 94 (less rehate of ~nrcrest,$1:8,17o.m). .... .$48.951,428 33 Ovcrduc 1)ebts (estmated loss provided for). --217,390 70 Liabilities of Customers under Letters of Credit, as per contra Bank Premises, at not more than cost, less amounts TORONTO,30th November, 1918 written off ......................................... 51C'V07&97 13 W. G. GOODERHAM, THOS. F. HOW, Pn=.&nt. Geutnl Mnr@r. AUDITOR'S REPORT TO THE SAAREHOLDERB. To the Sharcholdcrs of The Ban3 of Tmmto : lormstiod and exFlabstio;lir;quirodhsvebeen given to me, andat1 transnotions of the Bank whLoh hwe mme under my notice have, in my opinion, been within the powers of the Bank. Q. T. CLARKSON, TOPO~O.December 16th, 1918. Chortarcd Accmlmt. 7 THE THE BANK OF TORONTO BANK TORONTO ~ - consequence been very large and remunerative and employment has been The PRESIDENTafter the reading of the Report addressed the meeting given to all the available labor in the country at abnormally high wages. as follows :- The trade figures for the twelve months ending with November show GENTLEMEN:-In presenting the Report of the Directors for adoption total imports of $895,238,297, and exports of $1,~70,t4j,76z,the total foreign by you, 1 desire to bring before you some of the events of the year that have trade being $z,t65.j84,ogg. While these figures are $j75,000,000, less than had a bearing upon the financial situation, and that of necessity have in the preceding twelve months, yet they represent an enormous advance affected the operations of the Bank. upon pre-war figures. Our trade Imports from the United Kingdom were For the past four years the great war in which Canada has shared has $71,006,779, and our exports $638,536,280,-from the United States we controlled our actions and been ever present in our thoughts. At our annual imported $731,876,455, and exported to them $4jz,z92,450. These figures meetings we have been obliged to refer to its influence upon all our national show a large balance due to us from the United Kingdom, but this is offset activities and to the way in which, as a banking institution, we have been in part by the payments made by the British Government on our behalf in affected by it. It has not been possible at any previous meeting to speak connection with our army abroad. with any confidence as to when the end of the war would come, hut we may Ihave thus far confined my remarks to matters relating to our foreign now look hopefully forward to a time in the near future when the present trade, but domestic and internal trade has also been very active and armistice will be followed by a just and satisfactory peace. The business unusually great, both in amount and importance. Uur harvest, grazing anxieties of these years have been great, but these have been but a light lands. mines, fisheries and forests have all yielded large returns. The burden compared with the personal and family anxieties that have rested so wheat harvest was not so uniformly productive as we had hoped, some heavily upon all classes of our Dominion. sections having been affected by drought and frost, but in the aggregate the At to-day's meeting, in the fifth year of the war, we can come together yield at the high prices prevailing brought good returns. It is gratifymg with thankful hearts in the confident hope that the great end for which we also to observe that an increasing number of Western farmers are going Into have been striving has been accomplished. The effect upon our national mixed farming and the number of cattle, sheep and horses is growing, life and character has been to make us as a people more loyal and devoted with the result that the farmers are becoming less dependent upon their to the King, the Empire, and our own Dominion, and we appreciate the wheat fields as their sole reliance.
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