Show E ELY Y CENTRAL HAS AS SUBMITTED PLANS Of REORGANIZATION Tho reorganization committee of the Ely ly Central Mining company has completed com its is laborious task of arranging plans to clear up l tho the company company's s in and place it on a a sound financial titian finan cial footing a again ain These plans havo boon been mailed been to shareholders and iu in il suU- suU stance stanco ask for an assessment of 25 cents a share an and tho the exchange of existing shares for holdings in a new company In tho the statement just lust issued it i is shown that tho committee ascertained that tho the company owed and amI that th the tho treasury was without funds The I opera operating UnA expenses have havo been kept down downto downto to to the tho minimum and that development work has bas been c carried on at tho the properties prop prop- near r Ely ly up to October 5 1910 Since that time it has been necessary to keep pumps going oil at both tho the Eureka Eureka Eu Eu- reka and Clipper shafts to save savo th the theun underground un imn workings which aro are reported to bo be in ore oro and in excellent condition As the old ol stok stock of the tho company is 15 I non assessable the committee prOc proposes proposes that a new now company compau shall be organized to be bo known knowl as th the Ely Rh Central Development Devel company compan with witha a a capital of V ll-V shares par value vahie of which is to tobo to tobo bo ho 3 5 Stockholders ers must a agree ree to exchange ex CX exchange change old stock for now share for share and ahll pay an assessment of 25 23 cents a share sharo in two installments instalments Tho first installment is duo due November Ko 26 25 and the tho second December 26 1910 O. O This it i is is' claimed will vi provide sufficient capital to wipe out the time entire indebtedness of ot the company and nd give it i ample capital capital to prosecute its is development work to pay ore deposits Since the seizure of the time offices of of- t by the government Ao authorities t this is company has been deprived of financial support Its Js ground adjoins the Nevada Neada Consolidated and ana some som ore deposits ts have leon been developed de |