White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-11-02


dated Coppermines company of the
New Ely Central Copper company,
word of which was received yester-
day, is the latest move in the recent
merger proceedings and is a move of
deep significance as bearing on the
future development of the Consoli-
dated Coppermines holdings, and the
prosperity of the Ely district. 1t is
about all the assurance needed to
convince the most skeptcal that the
Consolidated company has 4 we'll de.
fined policy mapped out and that the
long-anticipated reduction plant will
become reality.
1t is an answer, too, to the ques-
tion oft repeated during the past ten
days. When is Mr.. Gray coming
back" meaning Edwin F. Gray. gem
eral manager of the Consolidated
Coppermines company, and who has
been in New York. attending meet
ing of the directors. Mr.. Gray was
expected back some time ago. but
evidently he has been putting in his
time to good advantage. and will
have something definite to say as re-
CARDS the smelter location when he
does return.
Mr.. Gray. who has had many com
plimentary things said about him. is
in line for more. He is now referred
to as the wizard" by those eonver-
SAINT with the situation and who real
ize the importance of the latest move
in the local mining game. Mr.. Gray
has opened up one big property that
has played an important part in the
development of the district, and pres.
ent indications are tEat he is about
to develop another on an ever large
scale
Despite its varied career. Ely Cen
trail has many champions among the
mining men of the district, but for
various reasons it has never been de-
yeloped The time has now come
when its believed ore bodies will be
proved and its great area merged
with the other adjoining holdings
controlled by the Consolidated COM
pany will constitute a strategic fac.
tor on the mining chess board Its
geographical location makes it an
important key in the merger scheme,
and its physical nature is such thet
any kind of development can be car
ried on by the Consolidated Copper
mines. either by the steam shovel
process or by underground workings
having ample room for railway yar'l ]
and tracks and dumping ground.
The tragedy of Ely Central under
the manipulation Of George Graham
Rice is still fresh in the minds o.
hundreds who invested their money
only to see the stock drop from more
than four dollars to one cent n share.
Following the dispossession of Rice
and the final reorganization The New
Ely Central has remained in a dor
mant condition. But those who have
paid the assessments and protected
their stock may now see new light
breaking in on the situation. and can
congratulate themselves that the
iroperty is TO come under the ma
teiiy insight of such man as Edwin
F. Gray.
The following letter has been sent
to the stockholders of the New Ely
Central Copper Co., relative to the
merging of the ely Central ground
with the Consolidated Coppermines
property
NV Dear Sir:--After many con-
ferences with the officers of the Con-
solidated Coppermines company. a
corporation formed with capital
stock of $4,000. 900. divided into l.
100000 shares of the par value OF
s5 each. which 772,56S shares of the
par value of s3.S62.S40 have been
issued to acquire the properties OF
the Giroux Consolidated Mines COM
pany, Coppermines company. Butte
& Ely Copper company. and Chain
man Consolidated Copper company
We have assurances from officers OF
the Consolidated Coppermines COM
pany that our company can become
part of this consolidated company
upon the following terms, viz: Our