Show RAY CON TO T TAKE TAK TAKEOVER OVER OR RAY CENTAL GROUND IN A merger agreement between en tho the Roy RaY na Consolidated d and the na Ray Central was S decided upon yesterday ID in New cw York TImi Tills This plan was as considered several years ears ago when the tho had an option opton on the control of ot Ra Ray Central but bul failed of or consummation as j tlc tIme Central crowd put too high a 0 price on ani OT the thE property The Time their lr afterward K ga c ve up tH option opton nit ami il aol sold out Omit the stock t tiny they had Requited The They maim mad time the announcement Rl at II tie the lie time that thal operations had been leen cl die die- appoInting and amid th they were werf unable to provo pro up th the tonnage 11 they v hart had anticipated lar After ner fter th meeting meeting- of ot the tilO I two IWO com com- It t I ns announced that the basin rr of agreed red upon was wal eight lt shares of or nl TIny Ray C. C Central 1 for one share I of th tho th Consolidated company The Tho Rn Ray Boy Con Cont will call n a 1 p special meeting I wll within a short time of or its Itt to io ratify latify nU the hit merger agreement and a proposition of ot their capital stock tock Horn from l O h shares chare rel for apar a apar apar par R value lue of or JIO In 10 a n shuro to sharer r. r rh The rime additional shares s 1 tj more than enough lo to fro folI for fol forthe forthe the of the time Ra Ba Ray Central stock I which Ii is d for shares share Kay has ball developed hotter r rJ than tons of or or ore according to tolate J late http repol of or an It e average o copper content con con- tent emit of ot than L' L per c cent nt The rhe Central made a n recent report In which rh tho demon oi ore bodies were werf pl placed cr at 0 tons of or an in average Krado rad o of P pei MV cent tIpper rapper and of or this tons will average a n to 6 ler per cent When hen one ont of oC Ih time offIcials of or the nn Tiny Consolidated wa was asked Iu d about the tile pro proposed proposed pro pro- posed mr mercer fr he lie said aid that hat the they had given s1 the tue subject t little thought for forral several ral years re That while It tIP T appeared d to b be the 10 1 move to jo ho made mad the Central Centra company had bad prevented pre tn any negotiations being niad made nt at ono one time b by placing a. a hl higher hr valuation on their property than th the oll Consolidated f engineers thought was as justifiable That tho the Consolidated had ai arm Immense acreage ago of ot virgin ground It was app that t In iii tho the years eat to como come the mammoth mill and smelter l' l a at would be In a position to handle ore ores from the Central ral territory When tIme the merger Is completed minim mining will be carried on on In the tho C Central ground where a larger has already been heen exposed and this will result I in Iii a larger II tion being made rom from the Ray Itay plants at atan atan atan an earlier date than had bad previously been estimated |