page_title: City of Glasgow Bank
section_title: General
hierarchical_section_title: City of Glasgow Bank / General
caption_attribution_description: English: A cleared cheque from 1877, the year before the collapse of the City of Glasgow Bank
context_page_description: The City of Glasgow Bank is now largely known for its spectacular collapse in October 1878, ruining all but 254 of its 1,200 shareholders, whose liability was not limited.
context_section_description: The Bank was founded in 1839, with an initial capital of £656,250 (about £46m at 2005 prices).   It aimed to cater particularly for small investors, with its branches opening in the evenings to receive deposits; its name is said to have been designed to allude to that of the City Bank of New York.
  The principal office was established in Virginia Street, Glasgow in 1842, and moved to Glassford Street in 1851. During a banking crisis in 1857 the City of Glasgow Bank had to suspend operation but was then able to reopen and continue trading. For a long time before closure dividends were paid at 9%-12%.
caption: A cleared cheque from 1877
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