Through the melancholy of 1893-94, Canby signed a tax protest letter to the county commissioners and metropolis council. Co-signers have been S.W. and Charles Brown, C.W. Slocum and a number of other different outstanding males, asking all taxpayers “regardless of party” to satisfy within the Commonplace Theater on Saturday, Feb. 17, 1894. Days later, throughout a second session, Canby urged forming a committee and appearing shortly relating to taxes.
The 1901 incident that led to the bankers’ suicides began once they have been confronted by financial institution examiner James Maxwell. The explanations are murky. The financial institution’s February monetary assertion listed about $231,000 in deposits. Its belongings included massive reserves deposited in Jap banks, a number of of which have been presumed fictitious. With the establishment’s funds thrown into disarray, it was closed instantly. An April Columbian editorial known as the fiasco “the most trying ordeal.” As soon as in receivership, First Nationwide’s money owed and holdings could be sorted out or liquidated.
Former dentist and Vancouver Mayor A.B. Eastman misplaced $3,000 when the financial institution closed and was elected receiver. Banking companies managed how the failed financial institution’s clients and collectors could be compensated. Eastman oversaw financial institution property gross sales, promoting Canby’s mortgage to J.H. Jaggy for $5,000 and later almost 236 acres of land west of Mill Plain. In August, one other misfortune hit the household. Fred Heffner shot his youngest son, Joycelyn, leaving Mrs. Canby grieving two sudden deaths.
With the distribution plan determined, Eastman dispersed the funds as they have been launched. In compensation, some obtained money and others property, like George Despro and Lowell Hidden.
Resulting from Eastman’s diligence, financial institution clients obtained dividends of about 90 % of deposits by October 1902. But, he had challenges sorting a number of the remaining claims for a number of years, together with one involving a soldier who was labeled as insane.
