White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-07-13


company arrived in East Ely yester-
day afternoon from Alaska, having
made trip of inspection of his prop
critics there before coming to this
district He left New York May 9Th
and sailed from Seattle June 18th.
He was accompanied by Mrs. Gray,
and has taken rooms at the Steptoe
iCtel
His arrival at this time is eonsid-
cred significant rs bearing on the
operations and development of the
new company When seen by a rep
resentative of the News yesterday,
Mr.. Gray stated that that his visit at
this time was for the purpose of max
ing an inspection of the various
properties which are to come under
nis management and to familiariZe
himself with the development work
which has been done on each since
he left the district He will be
Joined by President Charles F.
Rrand, who is expected to arrive III
q few days, and a thorough study of
the surface and underground work
ings of the properties will be made,
with a view to preparing a report TO
be submitted to the board of direct
nd nf.,n p1a nf
ment. Mr.. Grey stated that little
could be said In regard to the future
plans of the new company further
than that the known ore bodies
would be developed ard blocked out
as rapidly as possible.
However, his presence here, his
ability as mining engineer and his
exceptional knowledge of mining con-
ditions in the district in which he
played a prominent part in the early
of Nevada Consolidated,
is assurance that his management of
affairs will be along lines productive
of best results.
There will be no immediate change
in the management and operation OF
any of the several companies until
the actual physical transfer of the
has takn place, which can
not be before the 31st of the pres
ent month, the time limit allowed
stockholders to take advantage of
the privilege offered to subscribe for
the bonds Of the new company. I'm
after the expiration of this
time the remaining bonds. If any.
will be underwritten. The success
of the merger Is assured by the fact
that practically all of tie stock os
the Chairman and the Coppermines
companies and eighty per cent of the
Cir oux stock has been exchanged fo.'
stock of the new company. 1t Is be-
lieved that the physical transfer of
the properties will he brought about
eaIly in August ard that active de-
will he begun under the
new management by the 18th OF next
month.
When asked as TO the possibility
of a new mill or smeltcr, Mr.. Gray
lad nothing TO give cut. hut In thic
it is well to remember his
signed statement of May 18th, deal
ing with the Giroux and Coppermines
companies, that lit is of course ap-
save for it's stockholders all the
profits to accrue from the production
and treatment of its ores, unless il
has its own adequate plant for the
purpose and is in a position to carry
on its operations on 4 fairly large
scale" This NAV be taken to ind..
cate that tho construction of a smelt-
ing plant will der,nd tpon the fu
.ure ore supply and that development
will b. carried on to determine the
of constructing such a
plant
The present contract between the
Siroux and tie SteI toe companies l.
toll in effect, whereby the Giroux
pres are treated at the Steptoe com.
pany's plant. This contract cannot
cancelled without q years notice,
according to the terms OF agreement,
md the Giroux company has within
the past month made formal request
10 the Steptoe company for eanoella.
len of the contract. Provided the
oteotce company can see nc way ID
tripg this about. the Giroux ores
will continue to be sent to the Nc
Gill smelter during the remainder OF