Elite is a standard regular typewriter term for 12 c.p.i. spacing. So if you type any 12 characters, it will fill 1 inch of space, no matter if it is a "." or a "Z", they both take up the same amount of space. That is called "Non-proportional spacing"
In this Question box, the dots above take up the same amount of space as the Z's (non-proportional spacing).
After it this Q was posted, the spacing went to Proportional.
Where can I find a (complete or extensive) list of non-proportional spaced fonts available for Word?