Bio of GULBRO, Olaves L. (b.1881), Hennepin Co., MN
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EXTRACTED FROM: History of Minneapolis, Gateway to the Northwest; 
Chicago-Minneapolis, The S J Clarke Publishing Co, 1923; Edited by: Rev. 
Marion Daniel Shutter, D.D., LL.D.; Volume I - Shutter (Historical); 
volume II - Biographical; volume III - Biographical

O. L. GULBRO (Olaves L. Gulbro) - Vol III, pg 819-820
One of the strongest financial institutions of Minneapolis is the Millers &
Traders State Bank, of which O. L. Gulbro is vice president, and the policy of
the bank is largely the outcome of his opinions, labors and experience. He was
born in Traill county, North Dakota, April 17, 1881, a son of Lars and Olive
(Ness) Gulbro, natives of Winneshiek county, Iowa. Their parents were born in
Norway and in that country they followed the occupation of farming. While a
resident of North Dakota, Lars Gulbro took an active part in politics, serving
on a number of important boards and committees.
In the acquirement of an education O. L. Gulbro attended the public schools of
Portland, North Dakota, and the Lutheran College at Decorah, Iowa, in which he
com­pleted a commercial course. On starting out in the world for himself he
engaged in merchandising at Adams and also at Calio, North Dakota, and in 1910
he turned his attention to financial affairs, becoming assistant cashier of the
First State Bank at Wheelock, that state. In 1912 he came to Minneapolis,
accepting a similar position in the Minnehaha State Bank, and two years later,
in association with Guy Thomas, he organized the Millers & Traders State Bank,
becoming its first cashier. In 1920 he was elected vice president, which office
he is still filling. Mr. Gulbro is the active head of the bank and the present
success of the institution is largely attributable to his untiring efforts and
capable management. Since its establishment the institution has enjoyed a rapid
growth and now has a capital of forty thousand dollars and a surplus of ten
thousand dollars, while in February, 1922, its deposits amounted to six hundred
and nine thousand, nine hundred and one dollars and twenty-five cents. Mr.
Gulbro is well versed in the details of modern finance and this knowledge is
guided and directed by his general business ability. He is ever ready to extend
the aid of the institution as far as possible and yet careful not to Jeopardize
the interests of depositors and stockholders.
On the 17th of December, 1907, Mr. Gulbro was united in marriage to Miss Olga
Wiik, a native of Minneapolis, and they have become the parents of two children:
Irene Olive, who is ten years of age; and Lambert Gordon, a lad of eight years.
Mr. and Mrs. Gulbro are members of the Central Lutheran church and he is
connected with the Odin Club, the Lincoln Club and the Interlachen Golf Club,
while his fraternal relations are with the Modern Woodmen of America, the
Knights of Pythias and the Benevolent Protective Order of Elks. His enterprise
and initiative spirit have found expression in the development of a large
financial institution, which has a direct bearing upon the commercial
development and prosperity of the city. He has never deviated from the course
which the world regards as right in the relation between man and his fellowmen
and in all of his business career he has adhered closely to the rules which
govern strict integrity and unabating industry. Mr. Gulbro ranks with the
leading financiers of Minneapolis and in business circles of the city he has
become recognized as a man to be trusted.