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Show thuti the Guggenhelms- have bound themselves -to pay out no ' leas - than , 120,000.000 . for copper properties In the Ely. district. , In .addition, to the taking over the controlling interests In - the j NeVada 'Consolidated,' these magnates ! haVe taken up the Chainmaft and Mc-Klnley. Mc-Klnley. groups, andj they arev dickering for-a number-of other mineral-bearing trapts. ... . , r -', In addition to a number of Salt Lakers Lak-ers that' have become heavily Interest-, ed.'lir that section.-'lt has Just leaked out that there have been some very fine prpposltlons that, have .been submitted to -Samuel Newhouse, arid that upon his return to the city -within' the next ten days) h will, look over the reports that hve been made to him on the ground,, and if his engineers approve of the findings there will be some good-eiied tracts transferred - to the Newhouse syndicate. - r PROSPECTS OF ELY' ' MINES ABE GREAT Richard A. RIepe, Who Is the. father of the town and camp of Ely, Nev., came In from that section on the morning morn-ing train, and Is conferring with sortie of the big mining men of this city in regard to a silver-lead proposition in that locality that he took up since his last trip to the city, several weeks ago. -Of the conditions In that section of Nevada Mr. RIepe feels that the future of the country la assured., and while he has been a resident of those mountains . since the early '70s he says that there has never been a time that he has given giv-en up hope of the properties at some time being made to disgorge the wealth that Is found In the Immense ledges of , that rerlon. ', Mr. RIepe says that during the early days they scoured the country for gold, as copper was of little value and silver ' soon depreciated. , The early prospectors' prospec-tors' little dreamed that there would be methods adopted for ,the saving of the low-grade copper values, of which there are great mountains of the product and then it was argued that, the distance dis-tance from the railroad was too great to give the slightest ray of, hope of tfaere ever being established a line of railroad to the outside , world-. world-. Within a very few months' time the great wealth of Ely has been spread - from ocean to ocean and now foreign corporations are seeking a footing in the new" camp, which will be placed in touch with the outside world by means of a railroad before the summer has drawn to a close. 'Mr. RIepe says that most all of the ' ropper properties have been gathered in by large syndicates, and he estimates - t '- ' : '. ' . 1 ' ' |