145:, an employee working for the Stairs' family's Union Bank of Halifax. John F. Stairs died unexpectedly at the end of September 1904 while on a business trip to Toronto. His brother, George Stairs (1856-1908) took over as president but poor health saw Max Aitken, already a minority shareholder, acquire control of Royal Securities. Aitken soon hired and trained
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who immediately demonstrated an ingenious understanding of the world of commerce. Stairs made Aitken his personal assistant and on its formation, appointed him as Royal
Securities' secretary and general manager. In its formative years, Royal Securities put together financing packages for Nova Scotia
236:. In the early 1950s, Killam retired from active business due to failing health and before his death in 1955 made generous arrangements to allow the sale of Royal Securities to his close business associates. In 1969, the company was sold to
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and would become
Merrill Lynch, Royal Securities Limited. Eventually, the Royal Securities name vanished and the company operated as Merrill Lynch Canada Ltd. who over time would sell off their Canadian retail brokerage business to
157:. Because Montreal was the financial center of Canada, in 1906 Aitken would send Arthur Nesbitt to open the Montreal branch of Royal Securities. For years, the company was closely affiliated through a controlling equity position in
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office, as the new
President of Royal Securities and, firmly ensconced in England, in 1919 sold the Canadian company to Killam. In November 1920, Royal Securities acquired the seven storey office building at 244
220:. Royal Securities was also a major underwriter and agent for numerous government bond issues. Operating from its headquarters on Montreal's famous St. James Street, Royal Securities became a
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from the London & Lancashire Life
Assurance Company who had built it 1898 as their Canadian head office. Royal Securities owned the building until May 1965.
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Under Izaak Walton
Killiam's guidance, Royal Securities continued to prosper, becoming one of the largest and most respected
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A prominent and influential businessman, John F. Stairs was also a former politician who had been elected to the
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stockbrokerage partnership. Aitken then appointed Izaak Walton Killam, then an employee at his
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in Canada with a significant presence in every province. The company was a leader in the
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Arthur
Nesbitt helped build Royal Securities into an important member of the burgeoning
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companies including ones where Stairs and his family were significant investors.
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company. However, in 1912 Arthur
Nesbitt left Max Aitken's employ to form the
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that at the time represented the largest public financing of a
Canadian
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Merchant
Princes, Halifax's First Family of Finance, Ships and Steel
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community. Among his accomplishments, he was responsible for a 1910
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and distribution of share issues for the rapidly growing domestic
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business that grew hand-in-hand with the development of the
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Financial services companies disestablished in 1969
320:Financial services companies established in 1903
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325:Stock brokerages and investment banks of Canada
330:Defunct financial services companies of Canada
131:industries and raised the capital for several
255:Canadian Register of Commerce & Industry
122:. He had hired inexperienced 23-year-old
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345:1969 disestablishments in Nova Scotia
272:Canada's Mystery Man of High Finance
85:Royal Securities Corporation Limited
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340:1903 establishments in Nova Scotia
243:Canadian Imperial Bank of Commerce
159:Montreal Engineering Company, Ltd.
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141:In 1904, Royal Securities hired
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112:Nova Scotia House of Assembly
190:Nesbitt, Thomson and Company
17:Royal Securities Corporation
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116:House of Commons of Canada
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297:James Lorimer & Co.
234:Toronto Stock Exchanges
224:company, listed on the
218:electric power industry
120:Union Bank of Halifax
57:, Nova Scotia, Canada
93:Halifax, Nova Scotia
89:stock brokerage firm
143:Izaak Walton Killam
133:British West Indies
77:Izaak Walton Killam
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199:Saint James Street
182:Price Brothers Co.
174:investment banking
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259:Western Libraries
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147:Arthur Nesbitt
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28:(now defunct)
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289:Frost, James
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268:How, Douglas
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210:underwriting
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167:Denis Stairs
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51:Headquarters
22:Company type
91:founded in
314:Categories
295:. (2003 -
274:. (1986 –
249:References
128:Max Aitken
73:Max Aitken
63:Key people
257:(1959) –
186:newsprint
151:dry goods
70:(founder)
230:Canadian
226:Montreal
114:and the
101:Montreal
33:Industry
126:native
55:Halifax
43:Founded
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194:London
105:Quebec
87:was a
301:ISBN
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232:and
178:bond
163:AMEC
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46:1903
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