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Rainbow Ranche Collection

Letter from J. Corbet at The Canadian Bank of Commerce to "Sirs" at Rainbow Ranche, August 27, 1912 Canadian Bank of Commerce Aug 27, 1912

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Vernon,27 August 1912 •
The Rainbow Hanche, Limited,
Okanagan Centre, B* C*
Dear Sirsj-
I have now heard from the Superintendent of this district and the
bank will take over your account under the following conditions:
The advances will have to he covered by the individual guarantees of
the three shareholders in proportion of their interests in the company; the
said guarantees to aggregate #10f000*
The title deeds to the company1s properties to be lodged with the
Bank during the curranoy of the advance*
The loans will be carried in the shape of discounted notes at say
three months, the interest being deducted in advance in accordance with the
usual banking practice*
It will be impossible to make the advance until we are in receipt
of a resolution by the Board of Directors of your Company authorising you to
borrow to the extent of the ten thousand dollars*
Please call and see me the first time you are in town*
Yours truly,
l&anager*

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