Show cole ryan people visit el ely y MINING EXPOSITOR ELY NEV representing amny millions of capital a large party arrived in the district friday night and registered at the steptoe hotel in east ely in the party le are the representatives of the cole ryan syndicate and the gunn thompson interests which latter owns the townsite of east ely the object of the visit of the party is to determine on the purchase of the east ely townsite and its mission is fraught with the greatest importance to the future of the district sometime ago the expositor published a story to the effect that the cole ryan syndicate which is the representative in the copper world of the standard oil interests had secured an option on the properties of the gunn thompson people and that in all probability the deal would go through the need for these holdings by the cole ryan syndicate is the steptoe water wate r rights which go with the purchase in the cole ryan party are john C greenaway of warren arizona general manager of the calumet and arizona mining company and of the superior and pittsburg copper company james wood of douglas arizona superintendent of the calumet and arizona reduction works arthur cole of cananea cananda Ca superintendent of the cana nea reduction works john langton of new york consulting engineer for the cananea cananda works and S W landon a young mining engineer frank strathern of cananea cananda and W B copeland of duluth minn the representatives of the cole ryan syndicate are mainly from the arizona properties of the latter the president of the cana nea consolidated copper company was one of the party but he was obliged to drop out at salt lake and go to los angeles on account of s sickness among the representatives of the gunn thompson people are 0 J mcconnell formerly general manager of the ely securities company and the personal representative of william B thompson H W anderson of exeter new hampshire and D F rowe of london england thomas F cole head of the syndicate was here a week ago and in an interview denied that he had purchased the townsite but declined to go into any extended interview as to the possibility of his syndicate taking the property over later on it has been an open secret for many months that the cole ryan people for the giroux consolidated soli dated held an option on the holdings of the federal ely which has also a water right in the steptoe valley and the presumption is that the party now in the district will decide between the federal ely and the townsite holdings the presumption is in favor of taking over the latter for the reason that they will get more water which is the first desidera turn tum of the giroux consolidated the latter corporation wants water for the operation of the concentrator and smelter which are to be put up in the district for the treatment of the ores of the company mr cole stated while here that both of these plants would be erected here but could not or would not give the location of the proposed reduction plant it is easy to understand why he spoke in this vein the reason being that no decision had been reached as to which water right would be taken on at the same time the management of the giroux consolidated believes there will be considerable water developed in the workings of the alpha and giroux shafts possibly enough to operate a concentrator on the giroux property the giroux has been getting its water supply from the nevada consolidated soli dated and just now this supply is shut off for the reason that the nevada consolidated is short of water in the operation ol oi the steam shovel pit from this it will be seen that it behooves the giroux consolidated to get a water supply of which it can be assured they are now crosscutting cross cutting out to the alpha ore body and the time is at hand when they should be getting ready for the treatment of this ore which is a direct smelt ing product churn drills have been at work in the porphyry ore ground of the company and it is claimed that sufficient porphyry ore has been developed to warrant the construction st of a concentrator the party is simply making a tour of the west to learn what is being done by other copper producers and visited the plants near salt lake during the first of this week and have been to anaconda and great falls in an interview recently dr ricketts said it is with the idea of observing the latest and best in smelter construction that we have come west to me everything looks good in mining in the west while I 1 am not over optimistic and do not look for any great boom in mining I 1 am not pessimistic and am satisfied that we are on a safe basis while there is no great output in copper still it 1 is s looking up and will be even better to me the outlook is particularly promising in every part of the west where we have been |