Henry Ernest Dudeney/Puzzles and Curious Problems/11 - Distribution

by : $11$

 * Distribution
 * Nine persons in a party, $A$, $B$, $C$, $D$, $E$, $F$, $G$, $H$, $K$, did as follows:
 * First $A$ gave each of the others as much money as he (the receiver) already held;
 * then $B$ did the same; then $C$; and so on to the last,
 * $K$ giving to each of the other eight persons the amount the receiver then held.


 * Then it was found that each of the nine persons held the same amount.
 * Can you find the smallest amount in pence that each person could have originally held?