If I understand, a modern 1960B is either 16 ohms or 4 ohms mono. See jack panel below:
View attachment 6980286
It's loaded with 16 ohm drivers (Celestion G12T-75)
Power handling is 300W mono. It will probably handle 300W of guitar fine. But mechanical power handling with bass will be significantly less. I think if you run it at 4 ohms with the ELF producing 200W, there is a good chance you will damage the drivers. It may get pretty darn loud, but I wouldn't expect strong lows.
Back in the 60s, it was fairly common to use a full stack with a 100W Marshall for bass. They still blew drivers, even with eight 12s sharing the power.
The ELF is 4 ohms minimum. If your current cab is 4 ohms, you can't run a second cab.
If your existing cab is 8 ohms, you could use the 16 ohm jack of the 1960B. 8 ohms and 16 ohms in parallel = 5.33 ohms, which would be safe for the ELF
My guess is the ELF can produce about 170W at 5.33 ohms. The power would be split into three shares. The 8 ohm cab will get two shares and the 16 ohm cab will get one share. So if the amp makes 170W at 5.33 ohms, the 8 ohm cab will get about 113W and the 16 ohm cab will get about 57W.