City Bank

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City Bank of Montreal, Toronto office
Location: Toronto, Ontario, Canada
First President: John Frothingham
Existed: 1833-1876
Merged into modern-day Canadian Imperial Bank of Commerce (CIBC)

The City Bank of Montreal (known in French as "La Banque de la Cite") was an early bank founded in Montreal in 1833,[1] when it was part of Lower Canada. It was founded as a counterpart to the Bank of Montreal, whose politically-conservative directors made it difficult for leading liberals to do business in the province.[2] During its existence, it issued a number of tokens for use in trade, and is known for producing many varieties of the Bouquet sou, and for co-issuing the Habitant token along with the other leading banks of Montreal in the late 1830s. It also issued paper money.[3]

It also had branches in Toronto, and in Quebec City.[4]

City Bank merged with Royal Canadian Bank to form Consolidated Bank of Canada in 1876.

Bibliography[edit]

  • Manning Garrett. "The City Bank of Montreal Banknote Values - Canadian Currency". Retrieved October 12, 2018.
  • Grawey, Tim (December 12, 2017). "Colonial Tokens: City Bank tokens were issued during rebellions". Canadian Coin News. 55 (18): 13–15.

References[edit]

  1. ^ Grawey p. 13
  2. ^ Grawey p. 13
  3. ^ Manning
  4. ^ Manning