10 Dollars

The Bank of Toronto was one of Ontario's older chartered banks, founded in 1855 to serve the grain and milling trade. By 1935 it was operating under increasing competitive pressure, and this note was issued just two years before the bank's 1937 merger with the Dominion Bank — the combined institution eventually becoming Toronto-Dominion in 1955. Notes from this final decade of independent operation are noticeably scarcer than the bank's earlier issues, having been redeemed quickly once the merger consolidated the currency supply.

R.J. Henwood signed as general manager; Ingledew as accountant. The Canadian Bank Note Company in Ottawa handled production for most of the chartered banks by this period, their near-monopoly on the trade well established by the 1930s.