Beautifully engraved certificate from the Sovereign Bank of Canada issued in 1907. This historic documenthas an
ornate border around it with an underprint of the company's logo. This item has the signatures of the Company’s officers and is over 106 years old.
The Sovereign Bank of Canada was one of four important banks which failed in Canada after 1890. (The others were the Commercial Bank of Manitoba, the Banque du Peuple of Montreal and the Ontario Bank.) In June 1907, the Sovereign Bank wrote off $1.25 million in the reserve fund and $1 million of capital and the bank reorganized. The reorganization failed, and the bank closed its doors on 18 January 1908, with over $16 million in liabilities.
History from Wikipedia and
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