Show t I GIROUX CON HAS NOT NOI THE CONTROL OF BUTTE BUH ELY ELV ELYAn ELVAn LY An Anad r ad addition to the r report of or the GIroux Girou Consolidated annual meeting at Duluth has reached here and some surprise was Cr created by an item item which Ia says s 's that this company has not yet acquired control of or tho the Butte Butt and EI Ely company's stock President Cole Colo says sas on this point that last year his company owned ot shares haleN of or tho Butte Butto and Ely EI stock and thAt dining 1911 It Il Increased It ft Its holdIngs hold hold- ings until no now It has haa 41 7 shares As th the Butte and arid EI Ely Is capitalized for Cor or and divided Into Int h of ot the par pal tIlIA aimie of U 71 1 each lich the company will intro to acquire 5 shares share before It ft owns owne halt half the tho stock The Tho however how- how ever e has control of thc Is Is is- sue Butte and Till Ely owns one ono of ot the best belt mineral bearing c cC c In the entIre camp The J Consolidated J Is reported to h b be anxious to acquire this ground and nd at al a It r recent nt meeting of the tho and EI Ely minority interests interests- a. a proposition prop prop- o was wat ms made n to Jo the Giroux to ex exchange ex- ex change Butte and Ely stock for Giroux shares har lI or else pa pay back k c-k to the Giroux company the tho money they had bad Invested In th tho th- mute holdings holding and al also Alo o to pay for tOI all development d work vork done lonC by y the time Giroux on nn these c properties a as we veil eli as illS a 1 f fair ir rat rate of or Interest on the Investment The Butte and Ely tb Is 15 strongly financed nanc d. having ha 50 in Its treasury a and nr no bond Issue In a It contract for a a. period of five years to have havo the Giroux ores omes treated at the lie Steptoe plant pl of the Nevada Xe Consolidated a clause In II Inserted by hy which shipments shipment can be he suspended ed h by a notice from either company a year eal previous 1 to the thc time arc discontinued This would Indicate that the tho Giroux company compan contemplates contemplates con con- templates building Its fL o own n mill and sendIng sendIng send send- Ing In the concentrates to th tho Intermountain tam tain Smelting plant at Tooele The Tho ne new newmill newmill mill con construction would T require several ae years year after aCter the lie plans pians hid had been completer completed Since Sinco tho 1110 In the tho Giroux shaft last las August t. t the cn cost t of repairs repair mind and of pumpIng pumping pump pump- In Ing water watI to December 31 a 1911 is gIven gIvena a as RI Seven lives Hvos were lost in th the fire MId and the bod body of one ono man I is still 1 In Inthe Inthe the mine The shaft has las been fUll fully 10 mc- mc covered co hut the first firt ore or will como from the Morris shaft on the Bunker Hill group Th The rhe bond indebtedness of or th tIme the Giroux which h was originally has bee been en reduced to O This Timis reduction was m mainly through h the conversion of ot th the bonds Into stock and it Is belf believed ved that tha the entire Indebtedness will bo ho wiped wipe d dout out shortly after ore shipments ar arc started or at Ica least t within tho the year eJr |