I’ve never seen footage of Elmer Ray and unfortunately there isn’t much written about him either. But he did manage to put together a long winning streak on paper, briefly climbed into the #1 contender spot and was known as a hard hitter. Nino Valdez had a similar feet of briefly ascending to #1. Both guys beat a few named opponents and both blew hot and cold. They appear to be similar in size as well with each being 6’2” and around 210. Not sure who takes this one. Would probably be a good fan fight with a lot of big punches exchanged.
Ray has the better wins on paper and might've been the harder puncher (knocked out Savold in the early rounds). He also managed to last longer against Louis in multiple exhibitions in 1949 before being eventually knocked out. Valdes had an exhibition with Louis in 1950 and didn't last a round (Ray was at the very end of his career while Valdes was pre prime, though a pro for nine years). Wins over prime Walcott, Charles and Savold are pretty good. Valdes also beat Charles, more convincingly too but Ezzard was on the slide and 192 lbs for that one. Wouldn't be too surprised if Valdes won but I'd say Ray is the safe bet.