Sunday, February 20, 2011

Queen and Bathurst/Then and Now

From the archives, the N/E corner of Queen and Bathurst in 1923 when it was the Home Bank of Canada. It was incorporated July 10, 1903 in Toronto. It failed Aug 18, 1923. The presence of all these customers and a Policeman suggests that they were there for their money. A run on the bank!
2011 and it's a Starbucks.
A composite. I'm not the first person to do these.
One of their bank notes circa 1920.
The Dominion Bank at the S/E corner of Bathurst and Bloor in 1923.
The Dominion Bnk would merge with the Toronto Bank in 1955 to form the Toronto Dominion Bank now known as TD.

The outbreak of World War I brought great demand for Canada's natural resources. Within a year the country had erased its trade deficit and become a creditor nation. A few brief years of prosperity followed Germany's surrender in 1918, but the depression and panic preceding World War II appeared at the Dominion Bank on October 23, 1923. Sometime that Friday morning a foreign customer presented a check that was uncashable because of insufficient funds in the account. The teller attempted to overcome the customer's lack of fluency by raising his voice. "No money in the bank," he said. Those five words began a run that lasted until Tuesday afternoon, when rational voices finally overruled rumors.

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