Through the 1890s, also, his lumber export business became less profitable, due to the increasing age of his mills and the declining supply of suitable lumber on his land. He reorganized and recapitalized his businesses, first as Alexander Gibson & Sons in 1897, and then as the Alexander Gibson Railroad and Manufacturing Company in 1900. Finally, he was unable to extricate himself from his financial difficulties. The cotton mill property was taken over by the Canadian Colored Cotton Mills Company in 1907, while his remaining business assets were transferred to his creditors in 1908. He received an annual pension of $5,000 and the right to live in his house in Marysville for the rest of his life. Alexander Gibson died at his home in Marysville on 14 August 1913, at the age of ninety four. His wife had predeceased him in 1898.