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Rainbow Ranche Collection

Letter from J.E. McAllister to James Goldie, October 9th, 1912 McAllister, J.E. Oct 9, 1912

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Toronto        October 9th, 1912.
James Goldie Esq,
Okanagan Centre, B.C.
Dear Jim,-
Your letter of September 25th, with enclosed copy of letter from the Vernon
Manager of the Bank of Commercef was received on 1st inst* and I have waited before
replying, as you say in your letter "After seeing the Royal will write you again".
Thus far however, there has been no word from you.
Corbett appears to have gotten on your nerves, but I must say that the items
pointed out in his letter, are reasonable.   The authority of the Manager of any
chartered Company to borrow for the Company, must naturally be regulated by its
Directors, and the Royal Bank, if they are up to their business, will require the same
Regarding the personal statement from me, if Mr. Corbett will furnish you
with a memorandum of what he requires, and you forward same to mef I will be glad to
accommodate him as far as I consistently can.
The PostScript of his letter seems to indicate that you had suggested
increasing the credit to f15,000., although I may be wrong, but if this is so, I do
not agree with the increase.   You may remember that at our meeting it was decided
$8,000. would carry us through until the Ranche was self supporting.    In taking
the matter up with the Bank of Commerce, I increased this to #10,000.   Personally
I would be averse to borrowing any more, and would feel that if we cannot carry
matters through on this amount, the outlook must be somewhat discouraging.   It is
too bad the matter could not have been fixed up before Dormer went abroad, and I presume now, whether we do business with the Royal or Commerce, we will have to get his
authority for the credit by sending the resolution over to England for his signature.
If you will prepare the necessary resolutions to cover everything that the
Bank wants, and forward to me, I will be glad to sign, and also have Mrs. McAllister
sign (if you think necessary) as a Director, and then send the resolution on to Dormer for his signature, requesting him to return same to you.
On principle I would be averse to paying the 1$  demanded by the Royal Bahfc,
but it is really to be regretted that the Bank of Commerce have not a more tactful
Manager at Vernon*    Of course I may be wrong in all my assumptions in this letter,
and you can correct me if so, but briefly, Corbett*s letter of the 14th, while expressed in language the reverse of diplomatic, contains nothing that I can see to object
to, and on the other hand, in dealing with any Bank, we would have to accede to
similar requests.
Yours very truly,


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