A quiet-time Pc 5 event (designated Spacequake) of March 18, 1974, first noted on the Fort Churchill magnetopram, was studied using global data. Its amplitude was found to be largest in the northern part of the auroral zone and its period seemed to increase with latitude. The clockwise polarization of the event noted at Baker Lake and higher latitudes changed to counterclockwise at Fort Churchill in X- Y, X- Z and Y- Z planes. The resonance of a field line ( L ≅ 10) excited due to an instability of the Kelvin-Helmholtz type may have given rise to the observed event. It is conjectured that the cause of instability at this high altitude was internal convection of the magnetosphere. Similar quiet-time events from four Canadian observatories were selected from approximately 11 years of magnetograms and their statistical analysis revealed that (i) occurrences maximized near dawn and dusk (ii) the amplitude-latitude profile peaked at Great Whale River ( L ≅ 6.67), (iii) periods increased with increasing geomagnetic latitudes, (iv) a large number of events occurred in January, February and March every year, and (v) frequency of occurrence increased with increasing sunspot numbers. Comparison of these results with those available in the literature from analyses of satellite data clearly indicate that quiet-time Pc 5 events (Spacequakes) originate in the outer magnetosphere.