The year just closed has been an important one for the Vindicator Consolidated Gold Mining Company. The development has been of a most satisfactory character and the future outlook is all that could be asked by the most sanguine.
During the year three entirely new and distinct veins have been opened and proven to contain ore shoots. They are all of high grade, and the general average width of the ore shoots is between four and five feet.
Besides that, the ore bodies have been demonstrated 200 feet lower in depth than they were a year ago. From the bottom of the main shaft, 1,200 feet, the levels show wonderful ore reserves, conclusively proving that the future life of the bonanza is exceedingly bright.
With the ore blocked out and the new ore opened, and the showing getting better as depth is gained, the stockholders may well feel proud of their holdings, and the officers are to be given credit for the manner in which the development has been pushed forward.
The record of the mine during the year was a splendid one. There was broken, hoisted and shipped a total of 17,747.631 tons of ore. From that great mass of ore, the smelters extracted a total of $731,816.20 worth of gold.
That was an increase over the previous year, when there was shipped and settled for a total of 16,711.076 tons, that contained the enormous sum of $720,707.88.
The profit of the year just closed was decidedly greater, as is evidenced by the amount of money distributed to the stockholders in dividends.
During 1902 the Vindicator company paid to the stockholders of the company a total of 23 cents per share, amounting to $253,000.
With the payment of the last dividend the company has paid a total of 86 cents per share on the stock outstanding, making the grand total distributed to the stockholders' total to the enormous sum of $917,000.
With such a record to show the stockholders the officers of the company may well feel proud of their work, and certainly there is not another mine in the entire Cripple Creek district that is run on more strict business lines and more economically.
Every quarter, when the dividend checks are mailed to the stockholders, a report accompanies the check, which gives the stockholders a full report of what has been going on. In that way they are fully informed of the affairs of the company, for nothing is kept from them.
The stock of the company has been selling around $1 per share for some time past. At that rate the stockholders last year received 23 per cent, on their money, if the stock was purchased at that price.
The officers of the company are:
F. L. Sigel, president
G. S. Wood, vice-president
Adolph J. Zang, treasurer
F. J. Campbell, secretary and general manager
Charles F. Potter is the attorney of the company.
The estate of the company comprises about twenty-eight acres of territory, and that great ore-bearing veins and dykes cross it from all directions, which yield considerable ore, is best evidenced by the dividends that quarterly are sent to the various stockholders.