The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-03-14
BOSTON ELY
ISSUES LETTER
Tells Stockholders About
Good HANDLING and
Fine Prospects.


Mining company issues circular to
the stockholders in which it is said
the distribution of stock of the Bos-
ton Ely Mining company to the stock
holders OF the Boston Ely Develop
ment company, share for share, is
nearly completed. Over 81 per cent
of the outstanding stock has been
presented for exchange, accompanied
by the assessment of Is cents per
share
The Emma shaft, says the cireu-
lar. lis about $40 feet deep. A cross
cut run to the north at depth of
600 II. cut a strong, well defined vein
80 feet from the shaft The trend of
this vein is southeast-northwes sub
stantially parallel to the groupings
which cross the Emma claim $50 feet
south of the shaft, and it seems likely
that it is the same vein which out
crops 30 north of the shaft. We
call il the north vein and the one
south of the shaft the south vein.
The north vein as disclosed in the
crosscut, is composed of very soft
porphyritio matter containing good
deal of iron and showing pronounced
copper stains. II assays sl.SS in gold
aud silver.
within a week control of the Ely
Western Copper company has passed
to the Boston Ely company. Your
directors have endeayored ever since
the organization of the Boston Ely
company. nearly 8 months ago, to
acquire control of this company.
THE Ely Western Copper company
was organized in July. 1906, with a
capitalization of 100000 shares,
par s1,944.O00 shares are outstand-
ing. of which the Boston Ely COM
pany has acquired 100000, or 20 per
cent paying for IL entirely with its
own treasury stock. This stock was
sold in Ely as high as so cents per
share.
THE Ely Western company owns
the Matilda and Matilda Extension
claims. which are almost surrounded
by the holdings of the Boston Ely
company. The Matilda claim carries
the continuation of the pronounced
surface groupings of the south vein of
the Emma, and there is, near the cen
ter of the claim, an old incline shaft
between so and 100 feet, from which
considerable tonnage of gold ore
was shipped some years ago. These
groupings are practically continuous
running northwesterlly from the Vet
eran boundary, diagonally across the
Emma and into the Matilda, showing
total length on the Emma and
Matilda claims of upwards of 1000
feet. The vein indicated by these
groupings is apparently the extension
of the Veteran vein of Cumberland
, Ely company.
when the Boston Ely company
organized 1t owned but one claim and
held a bond on IL others. 1t has
gradually rounded out and increased
its acreage until today 1t owns out
right % full and fractional claims,
and 20 per cent interest In the Ely
! Western company, which owns two
claims containing about 40 acres.
Including the 40 acres belonging to
the Ely Western company, the Boston
Ely group contains approximately
900 acres, making ii considerably
larger In surface area than the Vet
eran group of the Cumberland ely
company, and 1t also contains
greater length of vein, II the surface
groupings can be trusted to indicate
J. the vein.
"From now on our energies will bt
devoted entirely to prospecting ant
developing the ground we own. Al
IL is unlikely that copper will b'
found in paying quantities until WI
get below the zone of oxidation, 1t Il
our purpose to continue sinking thu