Salt Lake Tribune | 1912-02-11 | Page 18 | Ray Central Bonds Not Subscribed For

RAY CENTRAL BONDS NOT SUBSCRIBED FOR Word from the east Is that the underwriters under-writers of tho Ray Central 51.800.000 bond Issue had to take all but 5100.000 worth, the latter figure being th amount taken by the stockholders. Tliera was considerable adverse criticism ovor this i bond Issuo In view of the fact that the par value of the stock was reduced from j 55 to 52, nnd the bonds wre redeemable in stock nt the latter mark. It Is doubtless doubt-less true tliBt It was the manner in which this bond Issue matter wis handled wbleh helped hrinjr about fir merger with fit- Ri 'insoMlal' d tompam