White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1911-08-20

JuuBt Dtn 1Oltildn NtolCiudy
morning handed down his decision
in the famous Ely Central case, dis
missing Reviewer Ed. Millard from
the management of the property, and
handing 1t over to the representa-
tives of the Reorganization Com
mittee. Away back in last December
j. H. McMurray, then secretary of
the since defunct house of the Her
rick KERN Investment company, petit
toned the ninth district court to ap-
point receiver in the affairs of the
Ely Central. Mr.. McMurray was
acting as one of the stockholders of
the company, and his action followed
the crash in the firm of Scheftels x
Company. which had been promoting
the finances of Ely Central.
The United States government EN-
ployes had jumped on the firm of
Scheftels & Co.. alleging all sorts of
Irregularities in the handling oil
stocks of Ely Central. They i'm
prisoned everybody they could reach
who was connected with the house,
and the eastern papers were full OF
the most heinous crimes laid to the
door of the brokerage firm. Up to
the present none of these charges
have been tried, let alone proved ;
but the immediate result was the
closing down of work on the property
which had been paying out in the
district funds to the tune of approxi'
mately 100000 a month, and the
payroll had reached as high as $2o,'
900 a month.
Judge Mitchell was on the bench
when the application for a receiver
was made, and he granted the appli.
cation. and appointed Ed. Millard
the we'll known assayer and citizen
of Ely. Mr.. Millard went into the
proposition with no relish for the
work ahead of him, but with the
resolution to do the best he could to
straighten out the affairs of the much
abused company. The directors OF
the latter fought the application al
every foot of the road, and have kept
the pot of litigation boiling up to the
moment that they received a reversal
of Judge Mitchell's action.
Receiver Millard was in court with
his attorney when the decision was
handed down yesterday morning
and was just as prompt in his action
on this phase of tRe case as he had
been on previous occasions. He i'm
mediately sought James Jaeoby, who
has been made the new manager of
the Ely Central Copper company, and
invited him to accompany him to the
property. Once there, Mr.. Millard
turned over to him everything which
had been placed in his possession by
the order of the court, under Judge
Mitchell: ending his connection with
the company.
What the immediate action of the
Ely Central company will be remains
to be seen. Without doubt they will
enforce the payment of the assess
ment of Is cents a share on the stock
which was levied to provide funds to
pay off the indebtedness of the COM
pany, and to continue the work OF
development on the property. 1t is
possible that arrangements will be
made with the Ely Consolidated COM
pany for working the southern end
of the property through the Zack
shaft, which ought to bring the com
pany into the ore more quickly than
by working through the Eureka
shaft adjoining the steam shovel pit
at Copper Flat. 1t is more than
likely, too that the reorganization
committee will unwater the Clipper
shaft at the other end of the property
and develop what promises to be a
big mine in the limestone. And all
this means the expenditure of more
money in the district. and the possi-
bility of proving up another big mine
in both the porphyry and the lime
stone.
Following Is the decision of Judge
Coleman in full. given to the limit
of its text for the reason that 1t is
one of the most important decisions