Crown Savings and Loan Company fonds [textual record, graphic material, architectural drawing]
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Hierarchy 
Crown Savings and Loan Company fonds [textual record, graphic material, architectural drawing]
Hierarchical level:FondsContext of this record:Fonds includes:9 lower level description(s)View lower level description(s) -
Finding aid Textual records (Paper) The finding aid is a file list. MSS1570 (90: Open)Textual records, graphic material, architectural drawing (Electronic) The finding aid is a file list of volumes 1 to 52. MSS1570 (90: Open) -
Record information Crown Savings and Loan Company fonds [textual record, graphic material, architectural drawing]
Date:1870-1952.Reference:R3091-0-1-E, MG28-II13Type of material:Textual material, Photographs, Architectural and technical drawingsFound in:Archives / Collections and FondsItem ID number:105691Date(s):1870-1952.Place of creation:CanadaAdded country of publication:Russia (Federation)Extent:4.77 m of textual records.
1 photograph : b&w.
1 architectural drawing : blueprint ; 85 cm x 67.5 cm.Language of material:EnglishScope and content:Fonds consists of the following series: Correspondence; Legal documents; Mortgages; Financial reports; Tax returns; Financial records; Corporate records; Shareholders records; Miscellaneous. The fonds also consists of one photograph, ca. 1900-1920, depicting exterior views of Crown Savings and Loan Co. building, Petrolia, Ont.Provenance:Additional name(s):Biography/Administrative history:Crown Savings and Loan Company : The Crown Savings and Loan Company of Petrolia, Ontario, was founded in 1882 by John Henry Fairbank (1831-1914), an American who operated oil wells in Lambton County, and was the owner or a partner in several other companies in the area. The company gave mortgages to farmers, ran a savings banks, managed investments for individuals and estates, and arranged rental leases and collected rents for its mortgages. By the early 1930s the company had loaned eighty percent of its funds to farmers as first mortgages. During the early 1930s many farmers were unable to pay the principal or interest on their mortgages, and although Crown Savings borrowed from the Bank of Toronto the company suffered a shortage of liquid assets. Crown Savings made its last dividend payment on 2 January 1934.
After several attempts to reorganize the company, an agreement was signed on 24 December 1935 permitting the Industrial Mortgage and Trust Company of Sarnia, Ontario, to buy Crown Savings. The Industrial Mortgage assumed all of Crown Savings. The Industrial Mortgage assumed all of Crown Savings' liabilities and assets. From December 1935 to 1947 Industrial Mortgage ran Crown Savings as the Petrolia branch of Industrial Mortgage, but kept a separate realization account for Crown Savings' assets and liabilities. Though Crown Savings' manager, Charles Egan, stayed on as the branch manager, most of the business was directed from Industrial Mortgage bought Crown Savings' office building and mortgages, and it liquidated Crown Savings in 1947, distributing the surplus assets of Crown Savings to the shareholders of Crown Savings.Additional information:General note:Received in 1972 from the University of Western Ontario, London, Ont.Associated material note:Published materials (pamphlets and trade catalogues) were transferred to the National Archives Library.Related material:The papers of John Henry Fairbank, 1862-1864, are located in MG 24 D 38. The Papers of the Industrial Mortgage and Trust Company, 1891-1931, 1970, are located in MG 28 II 8.Subject heading:- Sarnia (Ont.)
- Petrolia (Ont.)
- Robert J. Johnston - Estate
- Robert J. Johnston - Will
- Mortgages - Ontario
- Mortgage loans
- Mortgage banks - Canada
- Real property - Ontario, 1936-1942
- Land deeds, 1870-1944
- Insurance policies, 1870-1944
- Stockholders, 1882-1946
- Stock transfer, 1882-1936
- Dividends, 1891-1934
- Capitalists and financiers, 1870-1952
- Account books, 1882-1945
- Tax returns, 1915-1939
- Business records, 1870-1952
- Bank Of Toronto
- Mortgage Bonds
- Power of Attorney
- Inheritance and succession Canada
Source:PrivateFormer archival reference no.:MG28-II13 -
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