THE HEART OF THE CITY

HAMILTON PROVIDENT
AND LOAN SOCIETY

46-48 King Street East
(pre-1890 address 17-19 King Street East)

CURRENT STATUS (1999) Demolished

BUILDING INFORMATION
Date Built: 1880
Original Owner: Hamilton Provident and Loan Society
Original Use: Banking activities and main office of Hamilton Provident and Loan Society
Subsequent Uses: N/A

ARCHITECTURE
Size: Four-storeys high, 42 feet on King and 139 feet on Hughson
Design and Style: N/A
Architect, Builder: Architect: Mr. David B. Dick;
Builder: Mr. Robert Chisholm
Construction Materials: Ohio stone
Main Architectural Feature: Fitting of massive walnut richly carved with panels of glass, two corner towers one of which is a clock tower, steep French roof

The Hamilton Provident and Loan Society was established in June 1871 and was incorporated in the same year under the Building Society Laws. Twenty-nine men started it with capital of $5,000. By 1909, the capital had improved to $4,193,894. Certainly, the Hamilton Provident and Loan Society was one of the most popular, successful and useful institutions in the Dominion of Canada. It aptly combined the functions of a building society and a savings bank. It provided a means for owners of real estate to borrow money on the security of their property. Hamilton citizens looked upon the Provident and Loan Society as a safe, well managed place in which they had full confidence. The directors of the Society were well known all over Canada for their influence and enterprise.

The Hamilton Provident and Loan Society building was a great Hamilton building. It was built in 1880 with the best quality Ohio stone. The building’s architect was David B. Dick and the builder was Robert Chisholm.

It was four storeys high with a frontage of 42 feet on King Street and 139 on Hughson Street. The building also had a steep French roof, a floor inlaid with Minton tiles and walnut fittings richly carved with panels of cut glass. The boardroom was finished with butternut oil and the walnut furniture is covered with red morocco leather. The most prominent features of the building were two towers; the one closest to the corner of Hughson had been arranged to serve as a clock tower.

In 1926, the shareholders agreed to sell the company to Huron and Erie Corporation of London. Huron and Erie agreed to pay $277 per share, which were only worth $165 at the time of the sale. The services of the directors were retained as advisors.

REFERENCES:
Butler Saturday Musings, Volume 4.  Special Collections, HPL.
Clipping File – Hamilton – Banks and Banking – Hamilton Provident and Loan Society. Special Collections, HPL.
Hamilton the Birmingham of Canada, 1893.  Special Collections,HPL.
Industries of Canada, Historic and Commercial Sketch.  Special Collections, HPL.
Magazine of Industry, 1910.  Special Collections, HPL.
Spectator summer carnival, 1889.  Special Collections, HPL.
Weekly Times, November 6, 1879. Special Collections, HPL.