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Show NEW HAVEN BOND ISSUE IS ILLEGAL: Providence. R. L, Nov 11 A deel sion that the proposed $67,000,000 bond issue of the New Haven railroad will not be legal In Rhode Island, was announced today by Bank Commls sioner George H. Newhall The Is sue, he says will not comply with the state law which require that In such cases the earnings of a corporation shall be twice the Interest charges. Under this decision trust companies In Rhode Island cannot carry the bonds as assets and savings banks, cannot buy them at all. |