THE CITY OF GLASGOW BANK FAILURE.

Temuka Leader, Volume I, Issue 103, 11 December 1878, Page 3

THE CITY OF GLASGOW BANK FAILURE.

\W liave mabo a rough analysis of the share list which appeared in our columns yesterday, which will show to what an extram-dinary and dangerous extent the stock of the City <d G-asgow Bank is vested in the. hands of p< or and dependent people. A reference to the table we publish below will show that of the 1,000 odd shareholders upwards of 200 are spinsters, with an average holding of L 237 each ; 154 married ladies and widows, with an average holding of L 355. There are 98 executors and 76 trustees with an average holding respectively of L 598 and L 1,308. Adding these together we g'4 535 out of 1,300 holders of stock who have dealt in it simply as annuitants, ami who are not in any proper way the class of shareholders winch is fitted to give confidence and stability to a speculative concern. An examination of the analysis we append will show that this remark might be still further extended

The total stock issued amounts to something less than L 850,000, 1,530 shares being retained in name of bank. On summing up the table we have given it will be found that the total is higher by upwards of L 30,000 than the amount of stock actually issued. The explanation of the discrepancy will be found in the fact that we have included in our calculations some shares recently transferred, for which the seller remains liable. Of course we do not require to say that many, even of the poorer partners, hold stock considerably over the average. But among this class of shareholders it is remarkable how low are even the highest investments. Tims the largest held by a spinster is LI,IOO, and in this division there is only another of four figures — one of LI,OOO. The next to that is i L6OO, there arc two at LSOO,- one at

L 585. ami two or three between L4OO and LA; '. On the other hand, there arc. a g-eat man that arc very small. There a e four sisters holding L9O among them. In another cas tW'» women hold the iniinitesimal fraclimi < 1 a sham, represented by L 9 each, hour sisters, the daughters of a Border farmer, share L6O among them. There are in all about 40 spinsters holding under LIOO, and of these sixteen hold LSO and under. The holdings of those partners described in the list as widows are also, as a rule, small. One holds L6OO in trust for herself and five children. Two others have LIOO each, a third has L 75, and a fourth only a third share of LIOO. Among married women not distinguished as widows, though some of them are in that condition of life, ive count upwarcs of a score holding a single share or moiety of a share. Many of the bank officials who are holders of stock are also employes of the City of Glasgow Bank, and will in all probability lose their situations as well as their money by the stoppage. Among the number is one small holder of L 5. There may be a history attaching to that oddment, if we only knew it. Among the miscellaneous holders of stock whom we have not classified are a butler in the family of a Highland laird, holding three shares ; a Border shepherd with three shares, a forester holding two, and two working masons, the joint-possessors of one share. Five of the teachers are small holders, and among the ministers of leligion there are several cases of great hardship.—‘Daily Review,’ Edinburgh, October 9.

206 spinsters hold.., 154 married women 48,906i, average 237 each and widows ... 54,653i „ 355 „ 98 executors 57,653^ „ 589 „ 76 trustees 5 miscellaneous 99,460 „ 1303 „ holders 900 „ 180 „ 8 teachers 1,950 „ 244 „ 62 tradesman 20,540 „ 331 „ 28 farmers & feuars 51 bankers & hank 13,389 „ 4424 officials 29 i n s u r a n c e agents, factors, 22,601 „ 447 „ &c 39 ministers of re; 16,090 „ 555 ,, ligion 389 gentleman holding stock whose business or profession is not described in the 24,270 622 „ register 253,619 37 solicitors and other members of the legal pro- „ 652 „ fessions 28,366 „ 766 ., 99 merchants 92,350 „ 932j 24 medical men ... 24 manufacturers, bleachers, coalmasters, &c. ... 4 shipowners and 25,220 „ 1050 „ 40,678 „ 1679 „ shipbuilders ... 9,100 66,017 „ 2274 „ 19 papermakers ... „ 6602 „