White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-06-08

YlQeS that all stockholders OF record
of the Consolidated company. az the
close of business on July ;, 1918. will
he offered the privilege OF subscrib-
ing for not TO exceed So. 000. 900 Of
its convertible bonds al par. As this
privilege will probably be valuable,
the prompt exchange of shares IS
advisable.
The incorporation OF the Consoli-
dated company and its making the
! above offer 10 exchange shares are
the result OF conferences between
the arrangements of the four com
panies in question and Of the report
and recommendations Of Mr.. Edwin
F. Gray. q mining engineer who had
direct charge OF the development
and mining operations Of the Nevada
Consolidated company for its first
five years. aud who discovered and
proved up the larger part Of its ex-
Isting ore ~toHnages. and Mr. 4 J.
Sale. general mining engineer OF the
6iroux company. both Of whom are
most familiar with The Ely camp.
and with is geology. is development
and ore possibilities. These engin-
GERS have determined on what they
consider . fair and equitable rela-
tive basis for the consolidation @
the properties Of the four cmpanies
and their joint report ard recon-
mendations to the stockholders are
as follows.
To the stockholders Of Giroux
Consolidated Mines company. COP
permines company, Butte & Ely Cop
per company and Chairman Consoli.
dated Copper company:
At the request Of your respective
presidents. We have made a careful
study Of your properties, and. based
on personal knowledge of the ground
and the maps and reports Of the
development work up TO date, We
beg 10 submit the following report:
Ten years ago the camp at Ely
was practically non-producing. stu.
ated ninety miles from the nearest
railroad point. and connected there
with by a wagon road which crossed
" mountain ranges with heavy
grades and very often ~blockaded by
snow in the winter. This made the
transportation of supplies and ma
chinery exceedingly slow and ex-
pensiye- Several properties were
working on a small scale, but the
handling OF disseminated porphyry
ores was then in its infancy. The
men in control OF the New York &
Nevada and the Ruth companies.
predecessors OF the Nevada Consoli-
dated operating there were fully
alive 10 the possibilities OF the
loE-graee porphyrys By concentration
il the work vas carried on on a large
scale, but they also realized that
this york required adequate machin-
eg and supplies The only solu-
Ioz q the problem vas a railroad
AID large operations. and after ran
Tzsszzg Ire situation il a thorough
Zzzzer. EEe engineers and manage
-ezE q tn tK0 companies deemed
i sC- IT, best interests OF their
stockholders % consolidate. The
Ezs62 zsereof has been fully eyi-
c1ce1 y he - Of The Nevada
C1zso11zzsd company.
TIE properties Ehieh you n0x pro-
pose - eO1soldz1s consist 81 80
mining claims = the heart O. the
~ mining district and cover nearly
a. q Ire LeEeloped aid partially
e@EeoDea ere nodAs n the Ely
camp except those oNned By TIE Ne
v21z Consolidated. ard He believe By
= z consolidated a e0mpuy Esl be
created Eith sufficient ores. both
concentrating and smelling. 70 justify
the installation 81 a reduction plant.
/. but would earnestly recommend that
the company first carry On a series
q tests with q view It securing a
higher percentage u extraction from
its Ores than Is noW obtained with
the present concentration methods
in common Use on The different p8--
phvry properties Development work
on the four properties should b. car
ried On as rapidly as consistent With
economical mining while the above
tests are being made.
While both the Giroux and Cop
permines companies have been and
are row producing ores. such pro-
duction has been necessarily limited
The other companies are rot pr0dHc-
ing During a part Of 1912 and for
the las few months the Giroux has
been producing from 500 to 200 tons
daily Of porphyFy ores. averaging
about ? g cent Neither Of these
companies has plants for treating its
ores. and so far has had TO rely uD-
on having its ores treated BY out
side interests. II, OF course. is aD-
parent hat neither company can
save for its stockholders all the prof
its TO accrue from the production and
treatment of its ores. unless Il has
its v adequate plant for the pur-
pose and is in a position TO carry on
its operations on a fairly large
scale.
The acquiring OF the Chairman
mine is desirable for your future
smelling operations. as it is the only
one of the four properties named hav.
ing iron ore in quantity containing
the proper elements necessary for
fluX. Ii also carries considerable
values in gold. In all the other prop
critics the work to date has develop
ed commercial bodies of disseminat-
ed or direct smelling ores and but a
small fraction of the mineraLbearing
porphyry has been prospected, and
this little has been at a very shallow
depth. No attempt has ever been
I maHa 10 lnaoEar &ho ow1 - 1.~.A