Built for W H King of Glasgow, Macleod was one of the first of the larger size of puffer, and too big for the Forth and Clyde canal. Her MNL entry for 1900 shows her owned by the Macleod Steamship Co. Ltd of Broomielaw, Glasgow and managed by Paton & Hendry .of Glasgow.
By 1910 she was owned by the Glasgow Steam Coaster Co Ltd, managed by one Peter D Hendry. In 1920 she is shown as owned by Hamish G Hendry and so had clearly been "kept in the family" for most of her working life.
On 26th March 1922 she foundered 5 miles West off the Island of Sanda (off the Mull of Kintyre) while laden with a cargo of limestone.