Farmer's Joint Stock Bank
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The Farmer's Bank was formed in 1835 by George Truscott and John Cleveland Green in Toronto, Upper Canada. The cashier and general manager of Farmer's Bank was Sir Francis Hincks, a journalist and colonial administrator. The bank was taken over by the Hon. John Elmsley in a bitter proxy battle leading Hincks and other investors to found the Bank of the People. A Royal Commission concluded that the Farmer's bank collapse in 1910 was caused by mismanagement, gross extravagance, incompetence, dishonesty and fraud.[1]
References
- ^ Pound, Richard W. (2005). 'Fitzhenry and Whiteside Book of Canadian Facts and Dates'. Fitzhenry and Whiteside.
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