The daily journal. (Salem, Or.) 1899-1903, 1901-04-23
GILBERT BROS. .n.
BANK CLOSED
Large Crowd Of DePosltors
and Creditors.
More Disclosures Of the COS
Der Estate in Litigation.
IN Which Tilmon Ford EXecu-
tor is Sued.
Further Details in Suit for Ac'
counting
/ Firms of Lawyers Who Have
Been Retained in the Suit.



Gilbert Bro. banking Institution iail- 1
"a 70 open its dOors a. 10 O'Clock thls
morBips. the management having posted {
the following notice on the door:
uOp account Obligation Of the Cooper
bsi,s tbis bank is obliged 10 close 70
! protect its deposItors.
salem, Oregon, OlLbkkI Dh's'
April ., 1901.
several deposit0rs oongregated about
the hank At the hour for opening this
norptps and their disappointment vas
plainly evidenced. Among the throng
were several elderly women whose
neazrs savings we're on deposit in the
institution Shd from the use Of which
they vill necessarily be deprived,
possibly for months, pending the ulti'
mate disposition Of the present litigs'
ton. Their disappointment was
doubly keen, following the as-
soranos Of Mr. Gilbert VI onday morn
inE that the institution Of the suit would
NOT IN any way interfere with the opera
ton Of the bank and the announcement
from the came source in the morning
paper ths, there would be ample funds
At the bank 70 satisfy the claims Of all
deposiiOrs.
School sayinGs Deposfts.
Among the funds on deposit in the
Gilbert Bros'. bank. is the public school
savings bank account Of between $1,000
aud 5000, probably $500, representing
the savings Of Salem's public schoo
, childred for the past is months. A
l. meeting Of the board Of directors vii
probably be had this evening for consul
ie tatiou. when steps will be taken TO see J
this fund cannot be reserved from th,
se funds 10 the bank and not be tied up II
in the litigation. This fund may be con
a sidered a regular deposit, but the direct
al orr will endeayor 10 relieve the pupils g
In experiencing this feature in the life
q. banking institutions. For the funds
&c remain involved would largely interier
IN With the operation Of the system this
Nt has been 60 successfully introduced
u the schools Of the city. II would opel
70 ate A. a disappointment
ay IIlk Win tn Ford
1g Tilmon Ford. administrator Of th
estate Of the late VIM. Cosper, and wh
y is made a party defendant in the suit
re wAk seen this morning aud said
III "The fret intination ! have receive
h OF the institution Of the suit was irou
II. reading the Journal Of Monday evening
al No papers have yet been served on m,
ne aud am ignorant Of the true nature {
ne the case, other than that disclosed j
OF the Newspaper reports. II appears
he be "a suit for an accounting brougl
principally against Gilbert Bros, q
IN though a. administrator Of the estau
ar have been made party deiendan
It, II there is $4,000 OF the estate una,
AT counted for, hope II may be locate,
M as rendered q thorough inventory
the property Of the estate % far a.
was able 10 locate il. Asadminis,rat
Of the estate, am interested 10 its a
ministration and 'the amount q pro
IN erty disclosed 10 the inventory mea
an augmented Zee t1r myself,
In. "The inyentoFled valuation OF q
ely property Of the estate here, as reports
,its by myself a. administrator, 10 tis o,
in. and does not include real estate own
,ed By Mr.. CospeT 10 Idaho Of the probal
I'VE value oi $4,000 Ia compiling the
10 yentory Of the estate, / discovered
bud eutities negotiated by Mr.. COsper
.be. loans representing $4,000 in prneiI
and interest that are worthless I
interested in having the foil value
the estate revealed As It will msteria
Sc add 10 my commission A. the admin
traitor"