The History of Edinburgh, From the Earliest Accounts, to the Year 1780 ...

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The History of Edinburgh, From the Earliest Accounts, to the Year 1780 ...
Arnot, Hugo, 1749-1786
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IT. •r BBIKBUmOH. 411 prieton of the old stock, proridect no one should possess, in whole, above L. 40,600 Soots of stock ^ and if any still remain- ed unsubscribed for, any one might, subscribe that inclined.
By the same act, too, tte double of the former sums was de- clared tp be requisite^ as qualifications entitling the members to be governors or directors of the company, or to be their electors.
Agreeably to the envious policy so frequent among com* marcul companies and states, when the Ro
...yal Bank was e- rected, that conqpany purchased up all the notes of the Bank .of Scotland that they could lay hands on, and made such a run upon this bank, as reducad them to considerable difficult ties. To avoid such distresses for the future, the Bank of Scothmd» on the 9th of November J7iO, b^;an to issue li.5 notes, payable on demand, or L.5 : 2 : 6 six months after their being presented for payment, in the option of the bank. On the lith of December 1732, they began to issue 1^1 notes, with a ttmilar dause* The other banking companies in Scot- land found it conveni^it to follow the example.

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