Originally published on Torontoist on April 17, 2012.
The Globe, January 22, 1930.
Did you remember to celebrate Life Insurance Day earlier this year? Were the benefits you derived from the prudent savings of others at the top of your mind the last time you checked your safety deposit box or investment status update? Have you thanked your lucky stars and your broker that somebody else’s thriftiness has made almost everything that’s good and just in your life possible—especially those outings on the golf course? You didn’t? Shame on you!
The Globe, April 17, 1930.
Manufacturers Life was among the businesses that opened offices in the Canada Permanent Building at 320 Bay Street throughout late 1929 and early 1930. Architectural journalist Patricia McHugh had mixed feelings about the building in her book Toronto Architecture: A City Guide (Toronto: McClelland and Stewart, 1989):
The architect said that he wanted to avoid ‘restless outlines,’ and by combining massive bulk with delicate ornament, that is exactly what he did. The two design impulses cancel one another and the Canada Permanent Building ends up with neither power nor grace—a stout matron in too-thin ingenue’s finery. Only the deeply vaulted entrance and its bold coffered ceiling speak with any vigour, pronouncing the solidity and weightiness that “The Permanent,” by its very name, undoubtedly hoped to evoke.
The interior lobby and banking halls are another matter—rich extravaganzas of satiny marble and burnished metal in the best Art Deco manner. Don’t miss the extraordinary bronze elevator doors whereon are portrayed kneeling antique figures, one holding out a model of the company’s medievally quaint former headquarters and another a replica of this skyscraper—self-congratulatory offers to the gods of commerce.
The building is currently one of the older towers in the financial district, with CIBC Mellon as its main tenant.