VIEW-8727 | Stock Exchange building, St. François Xavier Street, Montreal, QC, about 1905
Stock Exchange building, St. François Xavier Street, Montreal, QC, about 1905
Wm. Notman & Son
About 1905, 20th century
Silver salts on glass - Gelatin dry plate process
20 x 25 cm
Purchase from Associated Screen News Ltd.
© McCord Museum
Keywords: Architecture (8646) , commercial (1771) , Photograph (77678)
Keys to History
The financial industry flourished thanks to Canada's rapid economic development. Montreal banks maintained their indisputable leadership, despite the growing number of competitors in Toronto. The shift toward the formation of large corporations in Canada, such as Dominion Textile and Montreal Light, Heat and Power, further enhanced the importance of the Montreal Stock Exchange and financial industry players.
It was a time when Montreal was truly the metropolis of Canada. Its financial institutions, railways and business enterprises were actively involved in the development of the West, setting up many branches in this region that was to become a prime market for the products of Montreal factories. They were also a driving force behind the development of natural resources and the expansion of the manufacturing industry in Quebec and Ontario.
Established officially in 1874, the Montreal Stock Exchange was Canada's largest exchange at the beginning of the 20th century. Both stocks and bonds were traded on the exchange.
The building that can be seen in the photograph is on St. François Xavier Street, in Old Montreal. At the time, this was the heart of the downtown area. Today, the building is the home of the Centaur Theatre, which puts on plays in English.
In 1903 the Montreal Stock Exchange began construction of the building that it would occupy from 1904 to 1965. It commissioned George B. Post, the architect of the New York Stock Exchange, to design it; he worked on the project with the Maxwell brothers of Montreal.
In 1904 one of the top brokers at the Montreal Stock Exchange was Louis-Joseph Forget (1853-1911), who negotiated some major corporate mergers in Montreal.