Bank of Albany - Albany, OR

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 13, 1899
Location: Albany, Oregon (44.637, -123.106)

Metadata

Model: gpt-5-mini
Short Digest: f1ea32e9

Response Measures

None

Description

Article (The Dalles Daily Chronicle, 1899-04-13) refers to the 'defunct Bank of Albany' and describes a U.S. marshal's sale of property to satisfy a judgment against the defunct bank. No run or depositor panic is mentioned. The item describes post-closure legal action (sale of property), indicating the bank had suspended/failed and is closed permanently. The bank type is not specified in the text, so set to unknown.

Events (3)

1. April 13, 1899 Other

Newspaper Excerpt: Under a decree issued by Judge Bellinger, the property claimed by Mrs. Cowan was sold by the United States marshal and bought by the Bank of California, the only bidder at the sale. The marshal executed a deed of the same to the purchaser, according to law, which provides that in case a transfer is not made of property within thirty days of the issuance of such decree the marshal's deed shall operate the same as a regular conveyance.
Source: newspapers

2. * Receivership

Newspaper Excerpt: to satisfy a judgment in the sum of $6000 against the defunct Bank of Albany ... sold by the United States marshal and bought by the Bank of California ... the marshal executed a deed of the same to the purchaser.
Source: newspapers

3. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as defunct; judgment against the bank and sale of assets to satisfy creditor, indicating bank failure due to adverse bank-specific conditions.
Newspaper Excerpt: defunct Bank of Albany, of which her husband, James L. Cowan, was the owner.
Source: newspapers

Newspaper Articles (1)

1. April 13, 1899 The Dalles Daily Chronicle Dalles, OR

Article from The Dalles Daily Chronicle, April 13, 1899

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Article Text

WILL NOT SIGN THE DEED. Mrs. Cowan Refuses to Give Up Her Homestead. Mrs. Sarah Cowan, wife of James Cowan, agent at the Warm Springs reservation, and who is very well known in The Dalles, seems to be a woman of more than usual will power, and one who 18 not-going to part with her home unless compelled to. We only hope she may be able to retain it, though the prospects do not look bright at present. Last night's Telegram says: peculiar case is that of Mrs Sarah E. Cowan. She was brought here last Saturday by Deputy United States Marshal Roberts from the Warm Springs Indian reservation, pursuant to a decree of the United States district court, to co pel her to transfer her homestead property in Albany to the Bank of California to satisfy a judgment in the sum of $6000 against the defunct Bank of Albany, of which her husband, James L. Cowan, was the owner. "The property in question was deeded to Mrs. Cowan by her husband prior to the suspension of his bank, and she claims to have made improvements on it in the sum of $5000, with money bequeathed to her by her father. Her husband, who now is agent at the Warm Springs reservation, signed a t deed conveying that property to the creditor bank, but Mrs. Cowan steadlastly refuses to do so, despite a decree of the United States court. 8 "The strange feature of this case is e that the federal authorities profess ignord ance as to why Mrs. Cowan was brought here, unless it is to coerce her to sign a paper, which in the present status of r the matter is entirely unnecessary. a "Under a decree issued by Judge Bellinger, the property claimed by Mrs. e Cowan was sold by the United States n marshal and bought by the Bank of California, the only bidder at the sale. n The marshal executed a deed of the e same to the purchaser, according to n law, which provides that in case a transfer is not made of property within thirty days of the issuance of such deS cree the marshal's deed shall operate d the same as a regular conveyance. "In view of this, it is difficult to undi derstand why Mrs. Cowan should have n been brought here. The court has nothy ing more to do with her. But the fa t h is, as stated by a prominent attorney todáy, that she is here under rule of practice of the United States supreme court, which authorizes her detention 1. by the United States marshal until she g complies with the decree of the United e States district court. of "The rule does not designate the man-ner in which she shall be detained, 80 the marehal has placed her in the keepof ing of her married daughter, Mrs. B Meikle, on the East Side. f"As Mrs. Cowan 18 determined not to h sign away her property, her absence from the reservation may be indefinite."