History of cities in Canada electric elevators, built in 1895. This was followed by the Traders Bank of Canada, (15 floors, Yonge Street, 1905), the Canadian Pacific Building, (16 floors, 1913), the Royal Bank, (20 floors, 1915), the Royal York Hotel, 1929, and the Canadian Imperial Bank of Commerce, in 1931. Canada's first escalator was installed in 1904 at Eaton's Department Store on Queen Street. The beginnings of the rise of Toronto as the cultural capital of Canada were seen in the establishment in 1827 of what would become the University of Toronto and the founding of "The Globe" (later "The Globe and Mail")in 1844.
Business Development Bank of Canada Business Development Bank of Canada The Business Development Bank of Canada (BDC; ) is a federal Crown corporation wholly owned by the Government of Canada. Its mandate is to help create and develop Canadian businesses through financing, growth and transition capital, venture capital and advisory services, with a focus on small and medium-sized enterprises. The bank was founded in 1944 and its corporate headquarters is located in Montreal. BDC has more than 118 business centres across Canada and more than 49,000 clients. BDC's debt obligations, secured by the Government of Canada, are issued to public and private sector institutions. The