w in the
West and in the East it had been an old loan company without big
capitalistic interests, its funds being derived mostly from small
depositors; but while at that time it was not among the wealthiest
banking institutions of the country, it was quite able to supply full
credit facilities.

The opportunity for the farmers' company and the young bank to get
together to mutual advantage was too good to be overlooked. Under the
banking laws of Canada valuable special privileges are granted in view
of the important part which the banks play in the country's
development. Government returns indicate that the greater part of the
business done by banks is carried on upon their deposits. If the
working people and the farmers, as is generally accepted, form the
majority of these depositors of money in banks, then were not many
loans which went to monopolistic interests being used against the very
people who furnished the money? If the farmers could acquire stock in
a bank of their own, would they not be in a position to finance their
own requirements rather than those of corporations which might be
obtaining unreasonable profits from the people at large? Such an
investment would be safe and productive at the same time that it
strengthened the farmers' hands in their effort to do their own trading.

With all this in view the directors of the Grain Growers' Grain Company
made a heavy investment in Home Bank stock and were appointed sole
brokers to sell a large block of the bank's stock to Western farmers,
working men and merchants. On the sale of this they were to receive a
commission which would, they expected, be enough to cover the expense
of placing the stock. As the business expanded the Company would be
assured of an extended line of credit as it was needed.

And the business certainly was expanding. Although the prospects for
the new crop were not as bright as they had been the year before, a
substantial increase in the amount of grain they would handle--owing to
the increase in the number of shareholders--was anticipated by the
management. They were not prepared, however, for the heavy volume that
poured in upon them when the crop began to move; it was double that of
their first season and the office staff was hard pressed to keep pace
with the rising work. There now seemed no reason to believe that the
success of the farmers' venture was any longer in doubt so far as the
commercial side of it was concerne