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.