According to the book, “Manito Park: A Reflection of Spokane’s Past”:
The last time we learned about the 1893 collapse of the stock market and how Cook suffered the loss of his Spokane & Montrose Streetcar Company. He also lost the land offered as collateral on the $40,000 note in a sheriff’s sale in 1895 (Superior Court case #8425). Most of Cook’s dreams for the future development of the Montrose/Manito neighborhood and park were swallowed up with the loss of the land. However, records indicate Cook made every effort to retain possession of their elegant home by selling much of the property adjacent to the home. Sadly, their efforts were futile. In July of 1897, the house was lost to the Provident Trust Company in another sheriff’s sale. The Montrose Park Addition’s thriving future was not to materialize until almost a decade later. By this time, Cook was well into other endeavors.