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If you are not located in the United States, you'll have -to check the laws of the country where you are located before using this ebook. - -Title: The American Consolidated Mines Company (1903) - -Author: Anonymous - -Release Date: November 15, 2019 [EBook #60691] - -Language: English - -Character set encoding: UTF-8 - -*** START OF THIS PROJECT GUTENBERG EBOOK AMERICAN CONSOLIDATED MINES COMPANY (1903) *** - - - - -Produced by Stephen Hutcheson, Lisa Corcoran and the Online -Distributed Proofreading Team at http://www.pgdp.net - - - - - - - - - - The - American - Consolidated - Mines - Company - Illustrated - - - MINES IN THE - Rio Hondo District, - Taos Co., New Mexico - - - - - _THE AMERICAN CONSOLIDATED MINES COMPANY_ - - _Incorporated Under the Laws of New Mexico._ - - _3,000,000 Shares. Par Value One Cent._ - - _To Avoid Excessive Taxation._ - - - - - _All Stock Non-Assessable._ - _Stockholders have no Future Liabilities._ - _The Company has no Debts._ - - _AT ORGANIZATION - TREASURY STOCK, 1,500,000 SHARES. - CASH IN TREASURY, $2,000.00_ - - - - - _JANUARY 1, 1903,_ - _Stock in Treasury, — 1,300,000 Shares_ - _Cash in Treasury — $11,866.82_ - - _OFFICERS AND DIRECTORS:_ - _J. SHUMAKER,_ _President_ - _O. H. STANLEY,_ _Vice-President and General Manager_ - _C. D. WEIMER,_ _Secretary and Treasurer_ - _C. P. CAMPBELL and MARTIN WEIMER_ - - _EASTERN OFFICE:_ - _MINERVA, OHIO._ - _WESTERN OFFICES:_ - _Colorado Springs, Colo., and Taos, New Mexico._ - - - - - Introductory. - - -In calling your attention to one of the richest districts in the whole -Rocky Mountain system, we must say in the first place that the old -Spanish and Mexican land grant controversies have greatly retarded the -development of large tracts of the richest mineral lands throughout New -Mexico, particularly in Taos County; but the United States court of -private land claims and the United States supreme court have finally -passed upon the validity of practically all these grants, and this has -recently thrown open some very rich fields. Among these is the Rio Hondo -district in Taos County. - -This district contains, without any exaggeration, almost inexhaustible -bodies of good paying gold, silver and copper ore. In the year 1680 -these same Taos mountains gave up millions in gold and silver to the -Spaniards, although worked by the crudest possible methods; and now, -after lying idle for hundreds of years they are again about to give up -their treasures to a few lucky corporations who have secured property in -this vicinity. The Rio Hondo District is situated about the center of -the county, a few miles north of the quaint old Mexican town of Taos, -the county seat. Plenty of mining timber and streams of the clearest -water make this an ideal place for reduction plants and the economic -handling of ores. - -In speaking of mining, many people think of a mining proposition as a -gamble. True it is, that the unscrupulous promoter has been too much in -evidence, and it is not surprising that an intelligent public is -inclined to look with suspicion at even the legitimate mining -enterprise. Mining when conducted along business lines, is just as -legitimate and far more profitable than any other enterprise, but the -investor must exercise care and judgment if he would make his -investments profitable. - -Mining is not affected by seasons or stagnant markets. Manufactories are -influenced by competition, over-stocked market, variations in the price -of raw material, and by the condition of the financial centers. Farming -depends largely on the weather, and even when everything conspires to -produce good crops, market conditions are frequently such as to subject -the farmer to a loss of his entire season’s work. - - [Illustration: Concentrating Plant and Smelter—1¼ Miles from the - “American.”] - -The product of the mountain is always the same. The mines are the banks -established by nature; are not affected by runs; have a market that is -always certain, with a demand that is constantly increasing and a wealth -of resource—the limit of which is co-extensive with the world. - -But there is one thing that investors should bear in mind: “_Mines are -made—not found_,” and a mine is not made in a day. When any other -business is being built up, investors do not look for dividends until a -market is created and the supply is sufficient to meet the demand. Many -good mines have been ruined by the haste of stockholders in demanding -dividends before the mine is put in condition to pay; and by their -refusal to recognize the necessity for a large outlay in order to make -dividends certain. - - - Description. - -The American Consolidated Mines Company is organized and incorporated -under the laws of New Mexico. The capital stock is divided into -3,000,000 shares (forever non-assessable). On organization there was -placed in the treasury 1,500,000 shares and $2,000.00 cash. Our -treasurer’s report shows the company to be in a flourishing condition -financially. (See report on following page.) On January 1, 1903, there -was in the treasury 1,300,000 shares and a cash balance of $11,866.82. -_This large treasury reserve_ assures the company of ample means with -which to thoroughly develop its properties, erect a suitable reduction -plant, to treat company ores and make any other necessary improvements. - -The Company now owns the Berry, Berry Extension, American and Dewey -lodes (each claim contains 20.6 acres), and the Coinage mill site of -five acres, a total of 87.4 acres of the choicest mining property in the -Rio Hondo District. This property is covered with the finest of timber -and has abundance of water, two very necessary factors in mining. - - - Veins and Development. - -Rich float has always been found on this section of Gold Hill, now the -property of the American Con. Mines Company, and when development was -commenced it could have but one result, the finding of the veins or ore -bodies from which the rich float originated. - - [Illustration: View of Twining, New Mexico—1¼ Miles from the - “American” Mines. Showing the Fraser Mine and Reduction Plant.] - -The main vein of this group traverses the Berry, Berry Extension and -American lodes, which has been opened up in various places along its -course, and proves it continuous for at least three thousand feet. This -vein is strong and well defined and at the different openings is from -eight to twelve feet wide. The quartz is rich in gold and copper with -small values in silver, and carrying iron and copper pyrites more or -less throughout it. Mill tests from this vein show values in gold and -copper of $22.40. Two tests recently made by Mr. E. C. Woodward, -assayer, Colorado Springs, Colo., show values as follows: - - Gold oz. Value Copper, per cent. - - 1.32 $26.46 15.2 - 2.81 56.20 - -One test for copper on December 31, 1902, gave 14.8 per cent. or values -of $29.60 in copper. - -The Dewey claim is intersected by numerous quartz dykes, carrying good -values in gold and copper. Surface indications point to large bodies of -high grade gold bearing ore. Recent tests from shallow workings upon -this claim gave values of over $60.00 in gold to the ton, which leads us -to believe that shoots of very high grade ore may be expected when this -vein series is cut at greater depth. - -Development has progressed steadily during 1902 and on January 1, 1903, -inspection of the property showed 550 feet of tunnels, drifts, shafts, -etc. The main or No. 2 tunnel was in 211 feet with an approximate depth -of 133 feet. - -There has been erected all necessary buildings such as bunk and boarding -houses, tool house, blacksmith shop, etc. The tunnel has been equipped -with cars and track and the necessary roadways, logways, etc., have been -built. In fact all the preliminary work connected with mining has been -completed and everything is in the best of shape for careful and -economic mining. Work will be prosecuted with all speed and when greater -depth is gained a crosscut will be run from the main tunnel and the vein -series of the Dewey lode will be opened up and developed at great depth. - - [Illustration: Pictures of the “American” Mines. - No. 1 Tunnel. - Mines Working in the Main or No. 2 Tunnel. - Tunnel House and Blacksmith Shop at Entrance of Main Tunnel. - Bunk House. - Boarding House.] - - - Present Conditions. - -A recent communication from our general manager, Mr. O. H. Stanley, -reads as follows: “Development is progressing in a very satisfactory -manner, and recent assays prove that my estimate, given in a former -report, as to the average value of our ore was very conservative, and we -may reasonably expect increased values as more depth is gained.” - -(Following is an extract of the report referred to in the above.) - -A mill run made some time ago showed values as follows: $16.40 in gold, -1½ per cent copper and 60 cents silver per ton, a total value of $22.40 -per ton. Taking this conservative estimate as the average value of the -ore, and counting only the ore available between the two points opened -up upon the “Berry” and the “Berry Extension” workings, above the level -of the “Berry Extension” tunnel, would give sufficient ore to keep a -100-ton plant working day and night for over 10 years. This large -quantity of ore would be taken out without the use of hoisting or -pumping machinery. This, together with every natural facility, such as -water power, cheap fuel, and an abundance of timber, makes this an ideal -location for the economic handling of ores. - -I would estimate that with a 100-ton reduction plant in operation, that -the total cost of mining and reducing 100 tons of ore to 10 tons of -concentrates, and the transportation, smelting and refining of same -would be as follows: - - Mining and timbering, at $3.00 per ton $300 00 - Crushing and concentrating, at $2.00 per ton 200 00 - Freight, smelting and refining, 10 tons of concentrates, $24.00 240 00 - per ton - Daily expense $740 00 - - RECEIPTS. - - Ten tons of concentrates, at $224.00 per ton $2,240 00 - Deduct daily expenses 740 00 - Daily profit $1,500 00 - - [Illustration: The American’s Main Tunnel in Winter. - Showing Monster Outcropping of Ore at the “American” Property.] - - - The District in General. - -Wonderful progress has been made throughout the entire Rio Hondo -District, but probably the most gigantic and successful mining -enterprise in New Mexico is that the Fraser Mt. Company, which is a -short distance south of the American. They have erected and put in -successful operation a smelter and concentrating plant of 120 tons daily -capacity, and the management is now perfecting plans to double the -capacity of their works and to install a larger electric power plant. - -Recent advices from Mr. Harlan, President of the New Mexico and Pacific -R. R., report rapid progress with the new railroad enterprise. We quote -the following extracts from Mr. Harlan’s letter: - -“Our present plans contemplate construction on from Raton to -Elizabethtown, a distance of a little over 75 miles, but our total -trackage will be about 80 miles. Of course, it is not our intention to -stop with this little piece of road, but when it is extended to the -West, the question will be where to find the most feasible route to -cross the mountains. The Taos Valley, the Canon of the Rio Grande and -the rolling mesas beyond the Rio Grande, and as this route will be -difficult at best, very little attention can be given to present -established localities. I mention this to show that even though the road -is extended to the West, and we do expect to extend it, still your camp -will always be the best served over the road connecting with the -railroad in the Moreno Valley.” - -By the above it will be seen that we will in the near future be favored -by convenient railroad facilities, which will very materially enhance -the value of property throughout the District. - -Mr. O. H. Stanley, a mining man of six years experience in this -district, has general superintendence of the development of the American -Consolidated Mines Company property. His long experience in this -district, together with his knowledge of the condition and character of -the ores, make him a very valuable man and stockholders in this company -are to be congratulated on having such a man at the head of its mining -department. - - [Illustration: _SKETCH MAP - PART OF THE RIO HONDO DISTRICT - TAOS COUNTY - NEW MEXICO._ - MAP NOT DRAWN TO SCALE] - - - Statement of Treasury of the American Consolidated Mines Co. - - Cash on hand at organization $2,000 00 - Cash stock sales and installment stock closed 4,035 54 - Cash received on installment sales not yet closed 2,073 25 - Bills receivable (balance payable on installment 7,940 09 - stock) - Expenses to close 1902 $4,182 06 - Cash on hand (including bills receivable) 11,866 82 - $16,048 88 $16,048 88 - - - Policy of Management. - -Work will continue to be prosecuted with all speed, and to the best -interests of all. Our plans contemplate extensive development and -improvement in equipment along all lines. - -Proceeds from the sale of treasury stock will be used for the sole -benefit of the stockholders. We wish to thank the stockholders for their -liberal support in the past, and ask your continued co-operation—if not -in a financial way, we shall equally appreciate any words of approval -you may have to offer for the enterprise. The interests of one are the -interests of all, and we shall work accordingly. - - [Illustration: Decorative glyph] - - [Illustration: A Street in Twining, New Mexico. - Views of Mountains in the Rio Hondo District.] - - -Extracts from Bulletin on Taos County, New Mexico, issued by the Bureau - of Immigration. - - - Taos County. - -Taos is the most picturesque and in many respects one of the richest in -mineral resources of New Mexico counties. It is also the oldest in point -of settlement by white men, and one of the best watered sections of the -territory. - -The Sangre de Christo range is the backbone of the county. Its peaks -rise to an altitude of over 13,000 feet. From it extend toward the west -foothills and the mesa through which the Rio Grande river breaks its -way, as well as some fifteen perennial streams which have broken, -picturesque canons and mighty gorges, or have eroded fertile valleys. -Spreading out fan-shaped on either side of the main range, and covering -a large part of the area of Taos on the west and a large area in Colfax -county on the eastern slope are rugged mountain masses reaching an -altitude of 13,000 feet above the sea. As at Cripple Creek, the -formation of the entire region is largely the result of volcanic forces, -consisting mainly of porphyritic and trachytic dykes and overflows, -intersected by innumerable veins or lodes, carrying gold, silver, copper -and iron. Above Twining is the Rio Hondo and the Black Copper districts, -both rich in gold, silver and copper. Mines in these districts are being -actively and systematically developed by modern methods and many of them -are regularly out-putting large quantities of ore that either reward -treatment at district smelters, or are profitably milled or concentrated -near the mines. Much of the gold ore is free milling and little of it is -seriously refractory—the iron content more than offsetting the small -percentage of sulphur and other refractory ingredients. The average -values are from $10.00 to $50.00 per ton and bodies are frequently -encountered that run a great deal higher. The large bodies of ore in the -Rio Hondo and the Copper Hill districts yield their values readily to -modern concentrating processes and it seems probable that concentrating -will prove an important factor in the future development of the mineral -resources of the entire county. - -Portions of Taos county are heavily timbered and in general the county -is the best timbered in the territory. On account of the difficulty in -bringing the merchantable timber from the steep mountain sides to the -railroad, saw mills are in operation in various parts of the county, the -principal being near Questa and Twining. - -The visitor finds here many things to interest him, particularly the -Taos Indian pueblo, called by Charles F. Lummis “The American Pyramids.” -Here one can study the customs of centuries ago, folklore tales, and try -to fathom the secrets of the “Kivas,” or council chambers of these -Indians, and the many ceremonial functions and mystic dances. (See -picture page 17.) - - [Illustration: Hunting in the Rio Hondo District. - “Jack” and His Bear.] - -The old town of Taos is practically today as it was centuries ago; to -see the inhabitants toiling in the gardens and fields, carries us back -to the time of Moses, as did the children toil upon the plains of -Shimar. Some very old ruins, presumably Pueblo, are to be seen to the -right when nearing the main town. An interesting feature is one of the -churches of the Pueblo Indians, near Taos. It appears that these Indians -rebelled against the United States government once, and but only once, -in the latter part of the ’50s, and took refuge in this old church. (See -picture page 17). Whereupon General Sterling Price bombarded them with -cannon from a distant point, until the Indians hoisted a flag of truce -from the top of the old church. The effect of the bombardment is in -evidence today, the holes made by the shells were never repaired. - -Scores of tourists come to visit the Indian Pueblo annually, especially -on its annual feast day, San Geronimo, September 30. The Jicarilla -Apache Indians, the Navajos as well as the Pueblos from the south send -delegations to this festival and the settlers for scores of miles around -gather at the Pueblo on that day. (See picture page 17). - - - What Stockholders Say Who Have Visited the Rio Hondo District. - -Mr. S. D. Mason, of Andover, Ohio, says in a letter of Dec. 10th, 1902: - -In October I visited the American Consolidated mines for the purpose of -investigating the property for myself and several friends who agreed if -I reported favorably to buy stock. I found the mine all that had been -claimed for it and more. Am so well satisfied with the property that I -have bought 15,000 shares, and my friends are taking stock as fast as I -can get to them to explain the situation. I have sold 50,000 shares -without asking a single person to buy. The mine is no longer a prospect. -It is a mine today. We have the ore, the timber, the water and an honest -management, and that is all that is required to make it a sure winner. I -can only say to you as I say to my friends here, that the mine is there, -that I have put good money into it and could give it no better -recommendation. - -Mr. Wm. Hinman, City Assessor of Lansing, Mich., says: - -My recent visit to New Mexico, the Rio Hondo District in particular, -where I spent almost a week looking over the property of the American -Consolidated Mines Company, has convinced me that I made no mistake in -investing in a block of “American” stock. I will say that I never before -had faith in mining ventures, but on investigation of the American -Company, and the character of their richly mineralized properties that -years of work cannot exhaust, I am satisfied that no investment can be -more sterling and safe than that offered by The American Consolidated -Mines Company. - - [Illustration: Views in the Vicinity of the “American” Mines. - The Indian Pueblo. - The Old Church, Destroyed in the 50’s. - The Sunset Dance. - Annual Feast Day of the Pueblo Indians.] - - - Other References. - -Hon. E. C. Abbott, U. S. District Attorney, Santa Fe, New Mexico. - -Ex-Senator Alexander Gusdorf, Taos, New Mexico. - -Geo. P. Miller, U. S. Mineral Surveyor and Mining Engineer, Taos, New -Mexico. - -William McKean, U. S. Mineral Surveyor and Mining Engineer, Taos, New -Mexico. - -Those who are at all interested in intelligent, progressive and -profitable mining should, for further information concerning The -American Consolidated Mines properties, and the price of stock, address, - - C. D. WEIMER, Secretary-Treasurer, - Minerva, Ohio. - - [Illustration: (Prospector)] - - [Illustration: Views in the Vicinity of the “American” Mines. - Gold Hill—1½ Miles above the American Property. - The Junction of the Rio Hondo and the Rio Grande Rivers. - Manufacturing Brick—4 Miles Below the “American.” - Arroyo Seco, a Mexican Town at the Mouth of the Rio Hondo Canyon.] - - - The New York Herald Says: - -“It is an undeniable fact that most influential business men of the -world have turned their attention to mining, the source of nearly all -wealth; for persons who have been enslaved to the idea that the only -safe proposition was a five or six per cent security, now realize that -many millions of interest have been lost to them through heeding the -advice of those interested in cheap money, and that among the banking -institutions of the West eighteen to twenty per cent per annum is not -considered a hazardous western profit or excessive dividend on the great -majority of our gilt-edged mining securities, and, further, the richest -men in the world are mining kings, many of whom have grown powerful -enough through the proper application of originally a moderate capital, -and it is proven that while millions of dollars have been lost in -railroads, farm mortgages, eastern industrial and building associations, -the American mining industry steadily advances, making enormous profits -for its supporters, building great states and cities, and points with -pride to the American possession of 253 mines that have paid in -dividends over $625,000,000. - -“In mining investments extremely large amounts are not necessary to make -one successful, for the man of moderate means, properly advised, has -opportunities of quickly doubling his capital. Under incorporation great -achievements are made possible through combining limited sums of -thousands, thus equaling the capital of the individual millionaire, -making possible gigantic undertakings that are productive of enormous -revenue. The dollar of the man of moderate means is equally as powerful -as the dollar of the money king. Both serve their purpose; both are -entitled to their proportionate profits. - -“In legitimate mining a twenty-five per cent dividend is not considered -startling, and the mining interests of the West are willing to pay that -interest for the use of money, for, by the aid of capital they open up -tremendous ore bodies that lead to still greater fortunes. The -employment of $10,000 in mining is the equivalent of $40,000 in most any -other branch of industry. - -“For years the wondrous profits of the metal industries have been -whispered among investors, who apparently were afraid to let their -neighbors know they were identified with mining, but the recent efforts -of the financial czars of the world in forming combinations to control -first the markets of the miners through the ‘smelting trust’ and then -the mines through the ‘Amalgamated Copper trust’ have opened the eyes of -the conservative and modern investors, and they are making efforts to -obtain their share of the metallic wealth which nature has spread so -lavishly. - -“Nature has laid her treasures in the mountain recesses of the West. The -American miner searches them out. Eastern money makes possible their -conversion into bullion and the joint results of the miner and the -capitalists make possible tremendous profits that signalize successful -mining.” - - - America possesses 253 mines that have paid in dividends over - $625,000,000. - - Do you know that the American Consolidated Mines Company owns - properties in one of the richest mineral districts in the United - States? - - The “American” is a mining enterprise of merit. Its shares are - advancing in price rapidly. - - Do you know you are losing money by not investing in a reliable mining - enterprise? - - If you are interested in mining, the mineral wealth of New Mexico is - something you should investigate. - - Buy “American” shares for a safe investment. - - Large amounts of money are not necessary to make one successful in - meritorious mining enterprises. - - The “American” has an energetic, progressive management. - - An honest investment for honest investors. - - [Illustration: Back cover] - - - - - The - American Consolidated - Mines Co., - - C. D. WEIMER, Secy. and Treas. - Minerva, Ohio. - - The - American Consolidated - Mines Co., - - TAOS, NEW MEXICO. - - - - - Transcriber’s Notes - - -—Silently corrected a few typos. - -—Retained publication information from the printed edition: this eBook - is public-domain in the country of publication. - -—In the text versions only, text in italics is delimited by - _underscores_. - -—Collected all the page-header advertising slogans into one section at - the end of the prospectus. - - - - - - - -End of the Project Gutenberg EBook of The American Consolidated Mines -Company (1903), by Anonymous - -*** END OF THIS PROJECT GUTENBERG EBOOK AMERICAN CONSOLIDATED MINES COMPANY (1903) *** - -***** This file should be named 60691-0.txt or 60691-0.zip ***** -This and all associated files of various formats will be found in: - http://www.gutenberg.org/6/0/6/9/60691/ - -Produced by Stephen Hutcheson, Lisa Corcoran and the Online -Distributed Proofreading Team at http://www.pgdp.net - -Updated editions will replace the previous one--the old editions will -be renamed. - -Creating the works from print editions not protected by U.S. copyright -law means that no one owns a United States copyright in these works, -so the Foundation (and you!) can copy and distribute it in the United -States without permission and without paying copyright -royalties. 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