City of Glasgow Bank
Videos
The City of Glasgow Bank was a bank in Scotland that was largely known for its spectacular collapse in October 1878, which ruined all but 254 of its 1,200 shareholders since their liability was unlimi
A cleared cheque from 1877
Dividend
Videos
A dividend is the distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. A
City of Glasgow Bank
…St. During the Panic of 1857, the bank had to suspend operation but later reopened and continued trading. For a long time before the bank's closure, dividends were paid at 9%-12%. On discovery of a £7,000 deficit (equivalent to £½ million at 2005 prices), the bank's operations were suspended in November and…
The Dividend Hall of South Sea House, 1810