SIR EDWARD SEABORNE CLOUSTON.
High on the keystone of Canada’s financial arch was inscribed the
name of Sir Edward Clouston, of whom a leading journalist wrote:
“He was one of the mainsprings of Canada’s progress.” Not only
did he achieve notable results in his own career but was also
the adviser and counsellor of many who have stood highest in the
public life and activities of the Dominion, and thus a notable
figure passed from the stage of earthly activities when he was
called to his final rest on the 23d of November, 1912. He was
then still in the prime of life, his birth having occurred at
Moose Factory on James Bay, May 9, 1849, his parents being James
Stewart and Margaret Clouston. The father, a native of Stromness,
Orkney, Scotland, was a chief factor in the Hudson’s Bay service.
The mother was the eldest daughter of Robert S. Miles, also
prominently connected with the Hudson’s Bay Company. Sent to
Montreal to continue his education, the son became a pupil in
the high school, of which Aspinwall How was then head master.
Subsequently he spent a year in the service of the Hudson’s Bay
Company and then returned to Montreal when a youth of sixteen
to become junior clerk in the Bank of Montreal, entering that
institution in 1865. This was the initial step in his successful
career as one of Canada’s foremost financiers. In his twentieth
year he was appointed accountant at Brockville and two years
later was transferred to Hamilton in the same capacity. In
1874 he became assistant accountant at Montreal, was attached
to the London, England, office and also to the New York office
in 1875. Five years later he was made manager of the Montreal
branch and in 1887 was promoted to the position of assistant
general manager. In 1889 he became acting general manager and
from 1890 was general manager, being called to that position
of grave and great responsibility when but forty-one years of
age. Throughout the years of his connection with the bank he had
ever in mind, not only the interest of the shareholders, but also
the welfare of his subordinates, many of whom received from him
unusual consideration and kindness. Sir Edward Clouston’s tenure
of office in the Bank of Montreal was longer than that of any of
his predecessors, the presidency during these years having been
filled by Sir Donald Smith, afterward Lord Strathcona and Mount
Royal; Sir George Drummond and Mr. R. B. Angus. In retiring from
the general managership Sir Edward Clouston retained the vice
presidency, which he had held since Sir George Drummond became
president in 1906. In his official capacity as vice president
he regularly attended the board meetings and never ceased to be
in close touch with the important affairs and interests of the
bank. The prominent place which he held in the regard of the
leading financiers of the country is shown by the fact that he
was again and again elected to the presidency of the Canadian
Bankers Association. He was thus in constant touch with the
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