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March 18, 2026The Accounting Review

The Failure of the City of Glasgow Bank.

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Authors

LRLeo Rosenblum

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Overview

Historical examination of the City of Glasgow Bank failure reveals significant financial mismanagement, suggesting the need for regulatory reforms.

Key Points

  • The aim is to explore the causes and implications of the City of Glasgow Bank's failure over 140 years ago.
  • Analysis of the bank's last published balance sheet from 1878
  • Investigation of the bank's financial condition post-closure
  • Review of the practices surrounding bank advances and liabilities
  • The bank's initial capital reserves of £1,600,000 were completely wiped out by the time of closure.
  • A capital deficiency of £5,190,000 was identified three months after the bank shut down.
  • The majority of advances were linked to the debt of only eight firms and the bank's directors.

Cite This Study

Leo Rosenblum (1933) studied this question.

synapsesocial.com/papers/69ba43a84e9516ffd37a512ahttps://doi.org/10.2308/tar-7065687
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