The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-01-14

district of another great smelling
plant. to handle the ores of Giroux
and 10 also take care of custom ores
which will be brought from Gold
field. Tonopah. Phoebe and a vast
area of other territory which has ore
10 ship if smelling facilities can he
brought close enough 10 permit OF
paying shipping charges.
In respect 10 the erection of redue-
ton works here, II is To be considered
that should the international be in
the Giroux deal, which on the face
of things seems now TO be a most
reasonable assumption. the new COM
pany in putting MP plant in the
district would only he following the
hand il has already shown in Utah,
where il has commenced the erection
of new custom smelter in the door
yard of the Guggenheim enterprises.
Also IL is Ia be considered that any
practical handling of the Giroux
means that adequate concentrating
and smelling plants must be erect
ed and that they must be put where
an adequate and certain water sup
ply can be secured. The present
mill is not nor cannot be a success.
nor Is the water supply available al
the mines.
Mr.. Cole has had representatives
in the district in the last several
weeks who have examined the Gil
roux property. II Is also reported,
though not confirmed, that Mr.. Cole
was here himself few weeks ago
and looked at the mine. II is known
that last week there We're definite
steps taken 10 acquire big block of
stock, with the attainment of which
the control of the company prac-
tically passed. and II is presumed
that this final step Wis taken upon
the strength of the reports which
Cole4Ryan had received from their
representatives, whose examinations
are not yet concluded but which have
doubtless reached point allowing of
the passing of positive opinions as to
whether the property is worth the
figure at which IT has been priced.
The announcement of Mr.. GirouX
makes plain the why and the where
fore of the sharp advance in GirouX
stock since Wednesday a week ago.
II also explains, probably, the de-
Huying activity having ceased with
the attainment of control of the COM
nany on Tuesday. just a week fol
lowing the beginning of the last adj
vance. which has been considered
due tn information reaching the east
from the property. What Mr.. GironA
had To say in Boston ON Tuesday is
given as follows over the wires
The directors of the GirouX mine
have been in continuous session for
the past week preparing for the an
nnal meeting To be held February :
The board has had under eonsidera-
ton an informal proposition 10 pur-
chase the Nevada property of the
company. The Stillman +. Kelly OPP
ton on the balance of the treasury
stock OF the company. namely 70.00s
shares. has been taken up. Thomas
r. Cole and associates have become
largely interested in the stock of the
company and take an active part In
the man iagement of the property. \
broad policy of development TO eN-
nlore and open up the extensive ore
measures already known to exist in
the properties both In Nevada and
Mexico viii be inaugurated at once.
while plans are being worked out
for equipment and reduction works
they will handle the same on a com
mensurate basis. To provide add
tional funds the directors have as-
thoriZed an increase In the present
bond issue of s1,0O0.000 10 be Sc
cured by second mortgage on the
Nevada properties, subject TO ratifca-
zion by the stockholders.