New-York tribune., 1920-11-28
RYAN Is Said
To Plan W ar
On Big Banks
Continued from paeo one)

nation available, Mr. Ryan's nominal
assets are far in excess Of his obliga-
tions to the banks.
Since the stock of the Stutz Motor
Company was stricken from the trad
ing list of the New York Stock tx
change, on April IA, the shares have
been traded in only on relatively rare
occasions in the Curb Market, and
moreover, in recent months a burst of
liquidation and short selling has de-
pressed the market values Of the stocks
of virtually ali corporations. including
those in which Mr. Ryan is heavy
stockholder. Besides his ownership of
Stutz shares, Mr.. Ryan is regarded in
the financial district as moving spirit
in the affairs of other companies
notably the Stromberg Carburetor
company Continental Canady, Consol
dated Textile, Chicago Pneumatic Tool
and Ryan Petroleum. Mr. Ryan is also
associated with operations in connec-
roh with Replogue Steel and Vanadium
MIR. Ryan denied himself to reporter,
who called on him at the Hotel Lor-
ralnc, here he had been confined With
Illness but he spoke full yabout the
reports over the telephone with rem. en-
resentatlve Of The Tribune. ~
Mr. Ryan was asked to be more sno.
enc about his remark that the story
Eoout the banks taking care of his as
sets was "inspired" but indicated that
re was not yet ready to go into de-
1"lls, except to say that the story was
gwen out for a purpose"
is 1t true that you are in financial
Gifficulties p Mr. Ryan was asked
absolutely not he rejoined. II am
IN none whatsoever. The report is a
joke" .
IF I'm broke" Mr.. Ryan snapped.
all the banks are broke.'
The man who recently turned the
great guns ot ihvcc.ive on the Stock
Exchange and its board of governors,
whom he is now suing in the Supreme
Court for 81 100000 damages alleged
tC have resulted from the Stutz epi-
was through as a financial leader were
too ridiculous to warrant formal cog
nizance.
Banks to Guard Interests
AS far as could be learned from the
lankers, their action is merely protec-
tive to safeguard their loans. the col
lateral Of which has in recent months
shrunk sensationally in value through
declines IN the stock market.
Mr. Ryan was popularity supposed to
have made fortune out Of the Stutz
corner but he always insisted that he
did not plan the situation, but was
forced into it by what he called a
vicious campaign of short selling of
Stutz stock. The corner ended on April
"a last, when those short Of Stutz set
tied with Mr.. Ryan for $3.50 share.
after fifteen Stock Exchange firms had
combined on April Is to act in the in
terest of those caught by the corner.
Having received the seat on the ex-
change owned previously by his father
in 1905, Mr.. Ryan sought to resign
When the governors acted in the Stutz
natter in a way that was unsatisfac-
tory to him. but the exchange, unwil-
ling to accept his resignation, expelled
him on June "a last
On August Mr.. Ryan brought his
damage suit to the Supreme Court.
With the market in Stutz to a large ex-
tent impaired after the corner, a large
share of the profits which the public
mind ascribed to him existed only on
paper. Mr.. Ryans seat on the ex-
change was sold for $9S 900 but at the
time he refused to accept the money
Last week it was reported that Mr.
Ryan had intimated to the Stock Ex-
change that the funds would be accept
able.