The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-08-18
new DEAL HAS
CENTER OFSTAGE
PROPOSITION FOR BUTTE ELY
CONTROL WILL HOLD IN
TEREST OF STOCKHOLDERS A
WHILE-MARKET LITTLE OFF.

The terms of the offer of Thomas
F. Cole for the control of Butte Ely,
printed on the first page of this is
sue, will receive much attention and
a great deal of thought from stock
holders of the company during the
next several days. The proposition
puts it squarely up to the stock
holders to say whether they want to
put themselves in association with
Mr.. Cole, or in his hands. If they
do SO it will be an expression of
through control of the property in
crease the value of it's stock to a
higher figure that the present man.
agement, as it admits, thinks it can
advance it. Mr.. Coles mining record
justifies this expectation. On the
strength of the latter, Butte ELY
stockholders are asked to sacrifice
a comparatively small amount of
their holdings at a little less than
half the market price. In this con-
nection it needs be remembered that
WHICH, tlC ODtlOh bCl huo hioaC w
tween Mr.. Cole and Butte Ely the
churn drill development which has
been going on with good results for
the last two weeks had not been
started. This development has al
ready put money in the pockets of
the stockholders and has probably
paid the loss they are asked to take
on ten per cent of their stock.
Furthermore, after this churn drill
development is completed the big
expense necessary in order to take
advantage of what may have been
demonstrated will come along. Pres
emit Butte Ely control has had the
ground for several years but uutil
entering into this option with new
people had been unable to bring
about systematic work for the de-
velopment of their property. While
somewhat indefinite as to the future,
and while Mr.. Cole obtains control
of the property for $250,0O5, while
that control is now selling for around
100000, the proposition still con-
tains sufficient attractive features
and prospects to make it cen desir-
dUiC. II TOm Lie speculative Stduu-
point it would seem imperative that
the development continue if the stock
is to go higher, or hold its present
figure, for before the beginning of
this development the ground was
evidently looked upon by all con
cerned as worth only about half
what it is now selling for in the mar
ket. The advance has been on the
presumption that Mr.. Cole was TAX
ing hold.
The general market list yester-
day was inclined to hesitancy, re-
ports of heat damage to crops aid
ing bear activities which have been
struggling vainly for ~ascendency. AS
the heat affected district is confined
principally to the corn belt and re-
view today of damage done there is
likely to minimize losses, it is
thought that the market will sustain
no more than healthy reaction, If it
does not rebound at once. The Ely
stocks were no exception to the rule
of hesitancy. although the close was
made in better form than prevailed
during the earlier part of the day. In
SEPARATION scored higher and looks
good to fulfill expectations of con-
tinued advance. 1t is a good buy
at present figures and will be a bar
gain on any reaction. Giroux and
Nevada Con. also look good for pur-
chases.