Is was on March 2nd, 1915 that John Treadwell, the man who gained fame and fortune with a mining complex in Alaska, had his debts set aside in Bankrupsy Court. He was in approximately $300 million in Debt.

Treadwell’s fortune had its start in 1881 when awaiting a ship back to San Fransisco after looking at the potential for mining for a banker. But, as luck would have it, Treadwell met a down on his luck French Canadian wanting to go home. He had a claim and soon a deal was struck on $400 and the claim changed hands. Assay results were deemed good and Treadwell returned to San Fransisco and initiated a partnership with the banker to begin a mining operation.

Treadwell returned to Juneau and had five stamps installed at the mine location south of Douglas in 1882. Then 120 more in 1883 and another 120 in 1887. The operation was quite successful, the largest of its kind in the territory, and first hard rock mining in the state.

Two years later, in 1889, Treadwell sold his share of the mining complex for $1.5 million and moved south, and so did his luck. He went back to California and began a coal mine operation that would ultimately fail.

Treadwell moved east to New York and partnered with is brother in a bank. The bank would soon go bankrupt. Those mishaps were joined by stock market losses.

By March 1915, Treadwell was once again bankrupsy court with no assets. 

Treadwell would live for another 12 years.

[content id=”79272″]

  bankrupsy, mining, stamps, treadwell