IMPERIAL BANK OF CANADA SIXTY-FOURTH ANNUAL REPORT PRBSBNflBDTOTHE SHAREHOLDERS NOVEMBER 23.4 E - 1938 Imperial Bank of Canada Head Office: Toronto CAPITALAUTHORIZED . $~O,OOO,OOO.OO CAPITAL PAID UP . 7,000,000.00 RESERVE FUND . .8,000,000.00 Sixty -Fourth Annual Report 1938 Imperial Bank of Canada ESTABLISHED 1875 CAPITAL(Amoarai~) - - - - - - - $10.W0.000.00 CAPITAL(PAID UP) - - - - - - - - 7.W0.000.00 RESERVEFUND - - - - - - - - - 8.000.000.00 DIRECTORS PRANK A. ROLPH. Cnrrau*~ov ma Bo~no A. E. PHIPPS. M~~DBNT COL. J. P. MICHIE, Vrc&Pnasmsm R. S. WALDIE, VKC&P~BIUDPN~ a. C. HEINTZMAN J. W. HOBBS WALTER C. LAIDLAW JOHN A. NORTHWAY G. H. AIKINS. K.C. (Winnipeg) H. E. SELLERS (W~nnipeg) R. 0. McCULLOCH (Celt) W. B. WOODS ARTHUR L. BISHOP E. E. BUCKERPIELD ivsneouvn) C. G. COCKSHUTT (Braotford) HEAD OFFICE, TORONTO H. T. JAPPRAY. GBN-L MAWIOF~I W. G. MORE. ALLSISTANTGBAIUI. MANIDHI L. S. MACKERSY. Am. Sopr. or WesTgaw BaANcess (Wininoiprz) JOHN HADDEN. S%caerr~.r SUPERVISORS' DEPARTMENT I. K. JOHNSTON. GBNHULS\ls~a~lgo= su*n-iSms H. C. HOUSTON B. E. HOWARD A. YOUNG -R. M. VIRTUE (Whnipeg) INSPECTORS' DEPARTMENT A. &. OGDEN. CPX+I INsPScros Insgadms A. C. ROME P. W. PAIN H. RILEY H. J. MORGAN - BRANCHES PROVINCE OR OrnNtIO BOURLAMAQUE.. ........................ K. N. ALLAN.. ....................M.n:ger MONTREAL ............................... A. R. B. HEARN .................... E. J. FRIESEN .......... ..Asdsmt . NORANDA ................................ G C. DUNLOP.. ................... ROUYN .................................. H.O.SCOTT ....................... PROVUCE OF YIA?iITOBA BRANDON.. .............................. R. CARSON.. .....................X.m.r GIMLI ..................................... (Sub BraoebtoRivaton) WRTAGE LA PRAIRIE ..................... G. W. STERiING.. ................. RIVERTON ................................J C. B. WIL IAMSON .............. WINNIPEG ................................ A. D. DUNCAN ..................... ARLINGTON ST. & WBSTMIN- STER AVE ................... C. E. BROWN. ..................... NORTH END ..................T. J. SLATTERY. .................. ST. VITAL ..................... R. S. McCLAY ...................... PROVIUCE OF ALBERTA ATIIADASCA.... .......................... J. G. DEACON ..................... MI BASI'P ................................ W. V. GODDARD .................. CALFARY ........................... W. L. GILLILAND ................. EAST END ................ J. S. W. CLOWES .................. DONALDA ............................... MARK COOK ..................... ECKVILLE ............................. H. S. MANN ....................... EDHOSTON .........................J. A. WETMORE ................... D. N. GRUBB. ...........Aratrtmt NORWOOD BOULEVARD.. .. JVEREKER ...................... SOUTH ....................... J. M.KINNEAR ................... WEST ........................ H. W. HARRISON ................. EDSON.. .................................. H. C. M*cnOh-ALD ................ PERINTOSH ............................... J.h,*cGREGOR ................... GRANDE PRAIRIE. ....................... C. C. FARCETT ................... JASPER.. ................................. A. McKCKZIE ..................... MILLET.. ................................. J. A. ENGLISH.. .................. NEW NORWAY ............................ J. C. MOSS. ...................... RED DEER ................................ J. RALLAA'TYNE .................. ROCKY MOUNTAIN HOUSE ............. S. G. HOOKER ..................... SANGUDO ................................ I. H. CLARK ..................... SYLVAN LAKE ............................ P. L. APPLETON .................. WETASKIWIN ............................J.B.BLACK ...................... PROVINCE OP BRITISH COLUMBIA CRANBROOK.. ............................ 1. D. McGlLLlVRAY ...............Mym PBRNIE ................................... H. L. REID ........................ GOLDEN .................................. F. P. THOMAS.. .................. ' INVERMERE .............................. A. ASHWORTH .................... NATAL .................................... D B. TURNER ..................... ' NELSON ................................... W. R. GRUBBE .................... REVELSTOKE ............................. W. K. WICKlINS .................. VANCOUVER .............................. Ur.M.SEI.LENS ................... ' PAIRVIEW .................. K. ANDERSON ................... ' HASTINGS & ABBOTT STS.. C. G. T. HARCOLTT .............. VICTORIA.. ............................... J.H. D. BENSON .................. : Imperial Bank of Canada Principal Agents and Correspondents EUROPE ~OYDSBANK LIMITED British Overseas Bank Limited GREAT BRITAIN IDistrict Bank Limited.~ ~~~~ AND IRELAND.. ... ~ommerciilBank of Scotland Limited Munster & Leinster Bank Limited Northern Bank Limited BELGIUM. .......... Lloyds & National Provincial Foreign Bank Limited CZECHO-SLOVAKIA. Anglo Czechoslovak and Prague Credit Bank {Biihmische Escompte Bank und Credit-Anstalt DENMARK. ....... Kjobenhavns Handelshank FINLAND. ......... Kansallis Osake-Pankki ~LLOYD~& NATIONAL PROVINCIAL FOREIGN BANK FRANCE. .......... LIMITED Credit Lyonnais IComptoir National d'Escompte de Paris GERMANY. ....... Dresdner Bank iDeutsche Bank . GREECE. .......... Ionian Bank, Limited HOLLAND ......... Rotterdamsche Bankvereeniging N.V. ITALY. ............ Credlto Italiano {'Banca Commerciale Italiana JUGO-SLAVIA.. .... Banque Franco-Serbe S.A. NORWAY. ......... Bergens Privatbank POLAND. .......... Bank Zwiazku Spolek Zarobkowych PORTUGAL. ....... Bank of London & South America Limited ROUMANIA. ....... Banca Commerciale Italiana e Romena SPAIN. ............ Bank of London & South America Limited { International Banking Corporation SWEDEN. ......... Skandinaviska Kreditaktieholaget SWITZERLAND.. .. Lloyds & National Provincial Foreign Bank Limited is w~ssBank Corporation ASIA Bank of China American Express Company Inc. CHINA. ............ Hongkong & Shanghai Banking Corporation Chase Bank National City Bank of New York I 7 . Lloyds Bank Limited Hongkong & Shanghai Banking Corporation INDIA AND CEYLON. Chartered Bank of India, Australia & China Imperial Bank of India National Bank of India, Limited IHongkong & Shanghai Banking Corporation JAPAN.. ............. Yokohama Specie Rank Limited 1Chartered Bank of India, Australia & China PALESTINE.. ........ Barclays Bank (Dominion, Colonial & Overseas) PHILIPPINE Bank of the Philippine Islands ISLANDS.. ........ { Hongkong & Shanghai Banking Corporation STRAITS Hongkong & Shanghai Banking Corporation SETTLEMENTS. .. Chartered Bank of India, Australia & China AFRICA ALGERIA.. .......... Credit Lyonnais BRITISH Standard Bank of South Africa Limited EAST AFRICA.. ... Barclays Bank (Dominion, Colonial & Overseas) BRITISH Bank of British West Africa Limited WEST AFRICA ... EGYPT.. ............ Barclays Bank (Dominion, Colonial & Overseas) Credlt Lyonnais PORTUGUESE Standard Bank of South Africa Limited EAST AFRICA.. ...I Barclays Bank (Dominion, Colonial & Overseas) RHODESIA.. ........ Standard Bank of South Africa Limited SOUTH AFRICA.. ... Standard Bank of South Africa Limited {Barclays Bank (Dominion, Colonial & Overseas) SOUTH Standard Bank of South Africa Limited WEST AFRICA. ... Barclays Bank (Dominion, Colonial & Overseas) AMERICA UNITED STATES.. .. NEWYORK-BANK OF rn~MANHATTAN COMPANY Chase National Bank Guaranty Trust Company of New York Irving Trust Company National City Bank of New York BOSTON-First National Bank of Boston National Shawmut Bank of Boston B~PALO-MarineTrust Company of Buffalo CHICAGO--Continental Illinois National Bank & Trust Company First National Bank of Chicago CLEVEI,AND--N~~~O~~~City Bank of Cleveland 8 UNITED STATES-(Contd.) DETROIT-Manufacturers National Bank of Detroit National Bank of Detroit DULUTH-First & American National Bank Los ANGELES--CitizensNational Trust & Savings Bank Bank of America N. T. & S. A. MINNEAPOLIS-FirstNational Bank & Trust Com- pany NIAGARAFALLS, N.Y.--Power City Trust Company P~I~ADE~~Hr~-PhiladelphiaNational Bank First National Bank PORTLAND,ORE.-United States National Bank ROCHESTER,N.Y.-Lincoln-Alliance Bank & Trust Company SANFR~Nc~sco--We~~s Fargo Bank & Union Trust Company S~~TTL~4eattle-FirstNational Bank S~on~e-Seattle-FirstNational Bank MEXICO.. ........... Banco Nacional de Mexico BERMUDA.. ......... Bank of N. T. Buttefield & Son Limited {Bank of Bermuda Liniited WFST INDIES.. ..... Barclays Bank (Dominion, Colonial & Overseas) CENTRAL Bank of London & South America Limited AMERICA. ....... .{National City Bank of New York CUBA.. ............. .{First National Bank of Boston Natlonal Clty Bank of New York SOUTH AMERICA.. Bank of London & South America Limited {First National Bank of Boston AUSTRALASIA Bank of New South Wales AUSTRALIA AND Commercial Bank of Australia Limited NEW ZEALAND.. Union Bank of .4nstralia Limited National Bank of Australasia Limited (~ankof New Zealand HAWAII.. ........... Bank of Hawaii Imperial Bank of Canada PROCEEDINGS OF THE The Sixty-fourth Annual Genera! Meeting of Imperial Bank of Canada was held at the Head Office of the Bank in Toronto, on Wednesday, 23rd November, 1938, at 2.30 p.m. Amongst those present were:-401. G. H. Aikins, K.C. (Winnipeg), A. M. Bethune, Arthur I,. Bishop, E. E. Buckerfield (Vancouver), Colin Campbell, A. R. Capreol, E. J. Case, Blain Cherry, John Chinn, C. Gordon Cockshutt (Brantford), W. H. Coghill (Hamilton), H. F. Crosthwaite (Hamilton), Duncan R. Deny, Ven. Archdeacon W. J. Doherty, C. C. Fawcett