New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-04-07
A. A. Ryan Gives Out
Terms. He Offered
To Stuff Shorts
Says He Begged Exchange
Governors to Stop Sell
ing When Stock Reached
1920, but Was Ignored

On the eve Of his departure from the
city "for brief rest" Allan A Ryan.
chairman Of the Stutz Motor Car Com
pany. last night denied emphatically
that he had had anything to do with the
sensational rise Of more than zoe
points in Stutz motor stock since the
trst OF the year and the unprecedented
action of the Stock Exchange in locking
up a listed security where it can
nelther be sold nor purchased.
Mr.. Ryan, who declares he has been
greatly misrepresented in the news &C
counts Of the situation which had its
inception a week ago with the prohibi-
tive action of the Stock Exchange gov
errors, made public at his home, 903
Park Avenue, last evening. five terms
Of settlement which he said he had sub
mitted 20 the governors several days
ago. These were:
"1-~Proposition of settlement must be
entirely without prejudice to his legal
rights.
"2-Settlement must be made with
the Exchange committee not with the
individual members who owe stock to
Mt. Ryan.
"3-When settlement prices is agreed
upon between Mr. Ryan and the Elk
change committee it must be binding
on each and every Exchange member
who has borrowed stock also on those
who fail to deliver on their Wednesday
sales The Exchange should clear all
the loan transactions outstanding in
the stock. giving Mr.. Ryan check for
balance and giving acquittance to each
member who owes stock.
MIR. Ryan must have the right to
>ul = IL
press, which ne will show to the COM
mittee in advance.
"5-The Exchange shall not, after the
settlement, either rule off the stock or
deny it the privilege of free trading
on the floor"
~ have taken every step in my
power" Mr.. Ryan declared, "to pre-
vent this sensational movement in
He added that when the stock got
to 220 he went before the Exchange
authorities and asked them to take
action to prevent further rise; that
they paid no attention to him, and that
there was at all times, so far as he was
concerned, free and open market for
the stock.
He expressed Willingness to sacrifice
his seat on the exchange if the Stutz
Motor stock could not be restored to
regular trading or stricken off thu list
of securities. Mr.. Ryan said he had
no though of financial gain in the mat
ter and that his sole purpose in try
ing to effect a settlement was that
justice might be done to him and the
other stockholders of the Stutz COM
pany.
~ shall continue to declare a divi-
dend of 20 per cent" Mr.. Ryan stated
until the stock is doubled in
value. l bought these securities be-
cause l believed in the value of them
The press said I was going to make
capital out of the situation but this is
untrue. l have told the governing
committee of the Stock Exchange that
intend to settle this thing
Il never created this Stutz situation
and l begged the Stock Exchange to
stop selling when the stock was 1920 q
share have been fair and patient. I
believed IN this property, for l built
1T up. did not care for the fuctua-
ton. l do not care if the stock sells
at IS or $4,000 share. The impression
that J do not want to settle the situa-
ton is unjust to me-