The bishopric became one of the largest and wealthiest in the Kingdom of Scotland, bringing status to the town. Between 1175 and 1178 its position was strengthened further when Bishop Jocelin obtained for the episcopal area the status of Burgh from King William I of Scotland, allowing the settlement to expand by its trading monopolies and other legal guarantees. Sometime between 1189 and 1195 this was supplemented by an annual fair, which continues today as the Glasgow Fair.