Queen's Encyclopedia

Queen's Encyclopedia
Queen's Encyclopedia

Commercial Bank of the Midland District

The collapse of this Ontario-based bank in the mid-19th century nearly precipitated the death of Queen's.

The bank handled Queen's accounts in the institution's early years and when it collapsed in 1867, it took two-thirds of the University's endowment with it.

The failure, combined with the withdrawal of the University's government grant in the same year, triggered a financial crisis at Queen's.

The university narrowly avoided collapse after a desperate fundraising campaign across Canada led by Principal William Snodgrass and Professor James Mackerras, who compromised his health working on the campaign.

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