Ely was born in Williamsburg, Iowa, and raised in Davenport, Iowa. Having completed the eighth grade, he graduated from Davenport Grammar School 4 in January 1901. Although some sources indicate that he attended and graduated from the Iowa State University in 1904 (when he would have been 17), the registrar of ISU reports that there is no record of his having done so - nor did he attend the University of Iowa or the University of Northern Iowa. Ely likewise does not appear in the graduations lists for Davenport High School.