Westminster Trust Co.

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Corporate body

Authorized form of name

Westminster Trust Co.

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        Dates of existence

        1904-1985

        History

        The Westminster Trust and Safe Deposit Co. Ltd. was incorporated in New Westminster, B.C. in 1904. The founders and first shareholders of the province’s first trust company were T.J. Trapp, Herbert Ryall, T.S. Annandale, F.J. Hart, W.J. Mathers, R.K. and E. Chapman, L.A. Lewis, and Edward Savage. An early stated purpose of the Company was “to lend, deposit, or advance money, securities, and property to or with such persons, and on such terms as may seem expedient”. The Company also served as trustee in the management of trusts and estates. This Company was responsible for the construction of the landmark Westminster Trust Building that opened in 1912 at 713 Columbia Street. In 1947, Alfred W. McLeod Ltd. was appointed manager of this company. With this event, the Westminster Trust Co. discontinued its insurance, real estate, and property management departments. In 1954, it was resolved that the Company should close out all business permissible only to a trust company, including the savings deposits department. The Company’s registration as a trust company was cancelled on October 31, 1956. The Company was then incorporated under the Companies Act as an investment company. During its lifetime, the Company underwent several name changes including the Westminster Trust Co. and Westminster Securities Ltd. It was under this last name that the Company was dissolved in 1985 for failure to file.

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