Bank of Toronto (Yellowknife) the resulting staking spree around the region. As the gold rush ended, the volume of business was insufficient to keep the bank profitable, and the Bank of Toronto closed this branch in August 1951. Purchased by prospector Sam Otto in 1964, the old log cabin was renovated and moved to its current location on Latham Island for use as a rental residence. The Bank of Toronto was designated a City of Yellowknife Heritage Site in 1998. Bank of Toronto (Yellowknife) The Bank of Toronto is a historic cabin located in Old Town, Yellowknife, Northwest Territories, Canada. The log cabin was
Yellowknife also resulted in new discoveries at the Con Mine, greatly extending the life of the mine. The Yellowknife townsite expanded from the Old Town waterfront, and the new townsite was established during 1945–1946. The Discovery Mine, with its own townsite, operated to the north-northeast of Yellowknife from 1950 to 1969. Between 1939 and 1953, Yellowknife was controlled by the Northern Affairs department (now Indigenous and Northern Affairs Canada) of the Government of Canada. A small council, partially elected and partially appointed, made decisions. By 1953, Yellowknife had grown so much that it was made a municipality, with its own council