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Show GUGGENHEIM'S HAND IN NEVADA. CON. AT ELY A telegram from Boston says that pext month A. Chester Beatty will be elected a director of the Nevada Consolidated company. com-pany. Yesterday's meeting of the directors di-rectors held In that city resulted In the election of O. M. Borden, F. W. Hllla and L. J. K. McOowan as directors, In succession succes-sion to S. D. Lorlng, Homer Lorlng and C. Sidney Shepard. retired. , The formal entrance of Daniel Guggenheim, Guggen-heim, Simon Guggenheim and O. M. Borden Bor-den as directors of the Nevada ft Northern North-ern Railroad company-was announced after af-ter a meeting of the stockholders of this corporation, which is composed of the same individuals composing the Nevada Consolidated. Placing of the Guggenhelms on the board of directors of the railroad was confirmation of the passing of control of the Nevada Consolidated to the Guggenheim Guggen-heim Exploration company, which was announced some time elnqe, and when Mr. Beatty shall have been chosen a director In the Nevada Consolidated, It is expected expect-ed that the great smelter magnates will have fully organised for the campaign which they propose to follow In the development de-velopment of the Ely, Nov., copper mines. In the meantime the railroad is being pushed Into Ely as fast as possible, and upon its completion the big smelter Is to be erected there, according to the dispatch, dis-patch, which was suggested some time . . . . . . . . . . ago. Its capacity' will be 1.600,000 tons annually, and at this rate the properties of the Nevada Con. are depended upon to furnish enough ore to keep the smelter busy for flfteea years, even though no additional bodies should be disclosed than are now in sight. Cumberland Ely In DeaL There are -strong indications that the Cumberland Ely will probably lose its identity by being merged into the Nevada Consolidated. The combination la desired by the Guggenhelms. -The subject has been under discussion for some little time past, and the belief in well posted circles here, is that the deal, will be consummated consum-mated during the next few weeks. The basis on which the combination is to be made Is unsettled. Nevada Consolidated Is capitalized for 1,200,000 shares, par SS, and Cumberland Ely has 1,000,000 $6 shares. The impression ls:that the shares of the Nevada Consolidated company will be Increased to possibly ,2,600.000, and that 1.000.000 will be set aside to take up the stock of the Cumberland. - Either that or the par, value of Nevada Neva-da Consolidated will be doubled and the new stock Issued for the old of both companies on a basis of one for two of each. - LONG CONTEST PROMISED. The controversy over Adamson's spring, near Garfield, which has been started by the claims of the .Utah Copper company recently filed, and which were overruled yesterday by State Engineer Caleb Tanner, Tan-ner, may be long delayed. There Is promise prom-ise of . it traveling the gamut of the courts. In fact, before the .ownership is settled, because the management of .the Utah Copper company .does not believe that the State Engineer haa a right to say who Is the owner of this water. Therefore, subsequent-to the ruling of the engineer. Manager Jackling Instructed the company's attorneys to prepare an appeal and the questions will be Judicially heard as to whether the water In this spring belongs to L. -H.. Gray, who has used it for irrigation for many years, although al-though he did not own the land containing contain-ing the spring, or whether the spring was bought by the Utah Copper company with the land it acquired. |
