This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 585.— Section 74 of the Bank Act allows banks to take security from wholesale manufacturers, wholesale purchasers, shippers and dealers. Does this section admit of taking security under it from those who are known as " middlemen ?"
Answer.—Many middlemen would be classed as wholesale dealers, and as such would come within the terms of section 74, if the business engaged in were one to which the section applies. The question could not, however, be definitely answered without fuller information.
The question could not, however, be definitely answered without fuller information.