Bankruptcy and Backpay
Judge Huston has granted Henry Bucey, receiver for the Montezuma and Washington Co-operative Mining companies, the right to sell any real or personal property belonging to the companies and to borrow $3,500 on the property to pay labor bills. Mr. Bucey reports $32 in cash on hand to meet the debts. He also says that the personal property of the two companies is worth about $7,000.
“Mr. Bucey reports $32 in cash on hand to meet the debts.”
Mining ventures in the Pacific Northwest frequently faced boom-and-bust cycles that left workers unpaid. This court action shows the state stepping in to liquidate assets to settle wage claims, a standard but often insufficient mechanism for worker protection that mirrors contemporary debates over worker compensation during corporate insolvency.
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