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Show ELY CON. LETTER. Company Sends Out Interesting Docu-mont Docu-mont to tho Stockholders. President Walter G. Filer of the Ely Consolidated company has sent to the stockholders an interesting history of the company and its present affairs, which is ot value to all Salt Lakers who have interests in this organization. In part this communication is as follows: fol-lows: Only two short years ago Ely was portrayed por-trayed as a low-grade concentrating ore field, where all the mine products would have to have the silica washed out before be-fore they could bo smelted. When the bonds were sold to build th Nevada Northern railroad, the wise men measured meas-ured up 5140.000,000 net profit, at 15-cent 15-cent copper, of this character of ore, which was the attractive proposition that first hoisted Ely into prominence. Today To-day the great Ely copper belt gives most positive assurance of yielding almost as much wealth from Its high-grade, direct-smelting direct-smelting ores as from its concentrating products. Anyway, the notion that the camp Is simply a big. mammoth low-grade low-grade concentrating proposition is proven to be emphatically untrue. The brief summing-up of the present status of the Ely copper belt throws desirable de-sirable light on the worth of Ely Consolidated Con-solidated Copper company's territory. With the exception of the combined Nevada Ne-vada Consolidated and Cumberland-Ely. wnich practically fonii one big company under the control of the smelter trust, and the Glroux Consolidated mines, no company in the proven main central copper cop-per belt has as large an area as the Ely Consolidated Copper companj. embracing 1 452 acres In one" compact body. -Mot only is this true, but our ground was acquired nt a time when we had tho pick and selection se-lection outside of the old original companies, com-panies, by men competent to take advantage ad-vantage of existing conditions. In light of development achievements of the past year, we are more convinced than before of the worth of our territory, and were the work to be done anew there would be no changes of moment In the territory rounded out. A characteristic gossan and quartz Iron outcrop, which stands-out prominently, is an unfailing Index of copper values below, throughout the district. Such favorable fa-vorable exposures are found between the Zach shaft and the American shaft. In the early days of the Ely district, between these workings, profit-paying gold mining was carried on. as Is evidenced by the extensive excavations and dumps. Like cropplngs elsewhere led to the uncovering uncover-ing of huge copper ore bodies, when the j horizon of unlenched porphyry was pene- I trated, nt deptli In the porphyry from J 60 feet to 100 feet or more. Our explorations explora-tions in these shafts, and also In the Brilliant shaft, have fully come up to anticipations. The most recent ore exposed ex-posed in the Alpha shaft workings of the Glroux Consolidated mines also lends to prove the existence of a strong east-west zone of direct-smelting ore. on line with the Brilliant, American and Sack shafts, which the cropplngs and old workings just spoken of locate. I'ndoubtodly, in tho north end of our proporly will be opened a huge zone of high-grade ore, south of which are large bodies of concentrating con-centrating products of corresponding extent, ex-tent, and values tu those blocked out In the Ruth workings of the Nevada Consolidated, Consoli-dated, adjoining our ground on the north. Unlooked-for set-backs hnvo delayed getting our hoists Installed and our buildings build-ings erected, for ll has been next to Impossible to have lumber nnd nupplles delivered, fin this regard conditions are mending. All acquainted with the camp agree that General Mnnngcr and Superintendent Super-intendent Jcldncss is the right man in tho right place, and that he has organized a splendid staff. Today a telegram is received re-ceived from him as follows: "Showing hi Zach and Brilliant particularly fine. Enlarging En-larging Zack shaft; good progress In tho American and Brilliant shafts. Buildings completed. Feel stronger than ever of ultimate ul-timate outcome." Those who knew Mr. Joldness's extra-conservatism will read of Christmas glad tidings in this message by wiro. In the near future we will make publh details of Important negotiations', now in progress, which will assure the treatment of our ores at a minimum cosi. Matters have so far advanced that this statement Is not premature. Mining Notes. Harry S. Joseph has returned from a trip to Goldfield, where he has numerous mining interests. Henry Catrow of the Ohio Copper company has returned from his home in Ohio, where he was called owing to tho serious illness of his mother. "Waller C. Orcm, manager of the Utah Apex company, spent Thursday inspecting this JJinghum property. James Jiarlc, superintendent of the Ohio-Kentucky Mining company, will leave tonight for the mine to resume work, which was interrupted by the holiday season. Incomplete details have reached this city regarding a strike on the Moun tain Lako property of Jesse Knight and associates in J3ig Cottonwood canyon. can-yon. Tt is understood that developments develop-ments of vast significance are being registered in this mine. Tho Ivlctal Mark3t. The metal quotations for Thursday, posted by McCornick t Co., were ns follows: Silver, OOvic; lead, $ri.S7; copper. 23c. |
