The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-16
THOMAS F, RYAN
SELLS ALL HIS
TOBACCO STOCK
Morgans Believed to Have
Paid Him $40, 600, 900 for
His Holdings.
CURB MARKET
IN WILD DISORDER
Ryan's Retirement Is Said to
Have Been Agreeable to
Other Insiders May
Develop Rubber

NEW YORK. December 15.-Thos.
his personal friends in Wall street
that he would retire absolutely from
the tobacco business as rapidly as
congratulations of the subsidiary
companies of the American Tobacco
Company would permit. He has dis
posed or his holdings OF American
fed with the Morgan group of finan-
ciers. There is no evidence that
Morgan & Co. rave taken any of the
stocks. but the street believes the
firm to be Interested in the deal, per-
haps as banks only.
Several important transactions
took place to-day IL tobacco stocks
privately. On the curb market the
shares were in wild disorder for a
time as a result OF Mr.. Ryan's retire
ment as a stakeholder. Stock of the
parent company rose early in the
day to h c high price of $535
I a share. broke to 1915. and rallied
to $525. United Cigar Stores stock,
which was selling at $500 a share
a little more than q week ago, fiuc-
tuated to-day between S236 and $214.
closing at $225. British American
| Tobacco stock, which is IS par, open
ed at Is as. broke to 16 "a. and
! closed at IS.
! Price Not Known.
Although it is admitted that Mr..
Ryan has sold out, the price he OBJ
tanned is not made public. He is
gettin govt OF tobacco just as he got
out Of the street railway companies
a few ear ago. II Is understood
that he resents the unfavorabie com
ments made everywhere regarding
his connection with the tobacco com
panies. He Is therefore transferring
his millions to other enterprises
where he will be less conspicuous. II
Is understood that he objects espe-
cfally to that provision OF the courts
orders forbidding him, together with
other defendants in the suit, from
dealing in the stocks of the subsidi-
airy company for a term OF years.
While h exact amount of money
involved in the Ryan deal could not
be learned. some idea Of 1t may be
gained from the fact that he is sup
posed to have obtained at least the
fsighest price reported for the stock
in to-day's market. or $685. q share.
In the suit against the Tobacco Com
pany it was always assumed thai he
owned 1898 shares OF the stock
This would make his holdings ST..
S33.155. But American Tobacco
stock Is worth $1,000 a share, in the
opinion of one of the directors. Il
has been possible recently to figure
out a value at nearly $3.50 a share
by taking the su bsidiaries at theil
market prices-
Therefore, while there has been nc
public announcement yet of the cash
assets OF the subsidiaries, 1t Ia MOI
likely Mr.. Ryan let his stock go fol
less than Its intrinsic value. A val
uation OF $40 q share would be the
lowest he would probably take. ant
at that price his holdings would b.
worth s~2S.233,1o.
Pleased by Retirement.
Other insiders OF the tobacco com
pany have received Ryan's retirement
with much satisfaction. They beltev.
his connection with the metropolitan
street Railway system frightened the
public away from the Tobacco securi
ties and made It difficult to distribute
them to the public. They believ,
that his retirement will lead the pub
lie to invest in Tobacco stocks, ant
the result will be higher prices fol
such issues than could have beer
hoped for otherwise. i. ;. ....s..
Ryan has OF late become heavil,
interested in the rubber business ant
in the Development Of mining conces
sions in Africa.