The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-03-29
CHAIRMAN CON.
NOW IN FIELD
New Company Formed After Un-
derstandins Was Reached
With Nevada Con.


been made with the Nevada Consoli-
dated Copper company by which the
old Chairman mining properties are
to pass into the control of the Chain
man Consolidated Copper company,
which will develop them.
While these properties are very
valuable, their purchase by the Ne
vada Con. was merely an incident in
the gigantic operations of that com
pany in Ely.
W. n. McGill, who returned from
New York last night. verified the re-
port of the formation of the Chain
man Con.
The story of the Chairman deal.
sent to The White Pine News by an
eastern reader is contained in clip
ping from the Elmira, n Y. Gazette
and Free Press. II is as follows:
After litigation dating back year
/ from last January during which one
of the hardest fights ever known was
! property. party of men from this vi
entity have finally adjusted all claims
and discords and have effected re-
organization of the old Chairman
Mining and Electric company. of Ely.
Nevada
Ont of the old chairman Mining
a. Electric company three men have
organized the chairman Consolidated
Copper company which will be capi-
talized at $4,000, 900 and is backed
by the biggest financial people of New
York city
The three promoters are Attorney
John Bull, ir., of this city; Fred ID.
Smith, mining engineer of Nevada,
but formerly of Ithaca, and Col. r. E.
Winsor. of Warren, Pa.
The story of the Chairman Mining
and Electric company and of the fight
for its possession. is a veritable ro-
nance and of much interest locally
because he company was first organ
izcd and largely backed by Elmira
capital and by Elmirans.
After proving disastrous to those
who first entered il the company has
now become one of the richest in the
ely copper section and those who are
now in control will realize fortunes.
The Chairman company was or
ganized by Dix W. Smith of this city
in 1900. Property to the extent OF
$3.50, 600 was purchased in Ely when
that now famous mining section was
on the eve OF its PROSPERITY and when
the Ely camp was reached only by IA
stage from the end OF narrow guage
railroad.
About $150,000 was spent in inn
proving he property which cost that
sum, and installing machinery. The
company did not prosper
4 number of stockholders desired
TO sell out to the Nevada Consolidat
ed Copper company. the controlling
company in the Ely region and sale
was negotiated for 100000, but not
completed. Litigation which follow
cd resulted in the appointment of
receiver
The redemption of the property
was begun IL year ago Attorney John
Bull in charge of the legal end of
the business. Col Winsor to finance
the deal, and Fred d. Smith to look
after the mining part of the move
ment began the fight.
Al that time there were 100000
shares of stock scattered from Maine
10 California. the largest stakeholder
owning only 1000 shares.
Two law suits were instituted, one
in the United States District court in
Nevada and one in the supreme court
If New York city The litigation was
finally settled on March % of this
year in New York city, and the af-
fairs of the old company will be fin
ally closed
A new company has been formed 10
work this and additional properties,
and Attorney John Bull. Col. Winsor
and Fred d. Smith, with Fred p.
Hugh, of Warren. Pa. will be promi-
nently Interested. Fred u. Smith will
ultimately be the manager OF the
new company which will he known as
the Chairman Consolidated Mining
/ company.
/ All legal actions have now been
i discontinued anG the company, in
stead of being antagoniZed by the Ne
vada Consolidated Mining company,
will work in unison with ii. Add
tional claims and mining lands sur
rounding the Chairman property will
be purchased. and the new company
bids fair to become famous.
In about Al days the stock Will be
offered on the curb in New York city,
Boston. Philadelphia. and perhaps in
Salt Lake City.
AT meeting OF the directors of the
old Chairman Mining and Electric
company. held in the office of John
Bull, il was decided to issue 4 ST.
100000 stock dividend to the stock
holders of the old company. This is
to be paid April 10.