The New York herald., 1921-09-24
MEYER Will EXPOSE
WALL STREET DEALS
OF POLICE OFFICIALS
Senator Hears Numerous
Reports About Protectors
Of City Dabbling in the
Stock Market.
GETS A. A. RYAN'S BOOKS
Ex-Inspector Hughes, Head
Of Private Agency, Figures
in Rumors Concerning
Speculative Fliers.
NEW FACTS NEXT MONDAY
Financiers Mystified on Learn
ing Enright's $4,000 Stock
Gift Was Purchased at Half
of Lowest Quotation.
NEW FACTS NEXT MONDAY

Allan A. Ryan,, stock broker and
Special Deputy Police Commissioners,
yesterday delivered into the hands Of
the Meyer committee detailed state
ments Of the stock dealing accounts of
Commissioner Enright, other proni-
nent police officials and Edward p.
Hughes. formerly head Of the de-
tective bureau. retired inspector and
close friend of Enright.
Elon r. Brown. chief Of counsel, will
read into the record next week when
the committee continues its hearings
in City Hall all the data from the
Ryan company's books dealing with
the stock dabbling of police officials.
In contradiction OF Commissioner
Enright's statements on the witness
stand that his venture in Morton Pete
was bona fide transaction, Mr.. Brown
will endeavor to show that 1t was
really fictitious as was charged. The
committee will show strange discrep-
ancies in the stocks quotations for
the days covered in Enright's account,
as set forth in the Ryan ledger. 1t
was in this transaction that Commits
sioner Enright cleared $4,000 without
moving finger. Ryan bought and
sold the oil stock for his chief and sent
q check for the profit.
Senator Brown and Mr.. Brown de-
clined to comment on the fact that ex-
Inspector Hughcs's account had necn
subponaed from Ryan. The account
was delivered personally into the COM
mittee's possession by Mr.. Ryan.
Hughes Enright's ''Best Man"
Hughes was best man at Commits
sioner Enright's wedding. He is highly
thought Of at Police Headquarters. which
he forsoo.s to start his private detective
agency. That venture Is said to have
been big success. Hughes knowledge
of police conditions and the sympathy
Of his old associates In his new field
have made his agency powerful Why
his personal Wall Street enterprises are
being checked UP by the investigating
committee will remain a subject OF
guesswork unless the facts are presented
on the witness stand.
The committees examiners checked
back on the Morton Pete quotations as
given In the Ryan report OF Enright
venture, and were unable to make the
figures At. 1t was shown that at no
time between April II and April ~. 1919.
the dates of the Enright transaction,
was the stock quoted at So a share. That
was the price Ryan paid for the stock
which he bought for Enright-
The records show, II was reported to
the committee, that the lowest price
touched by the stock on the day Of the
Enright purchase was s4.25. 1t went up
to $3.50 on that cate. Mr.. Ryan de-
clined to make any comment or give
any explanation when asked about II
yesterday.
IF the report OF the examiners IS
correct It shows that the Enright trans
action was purely fictitious" Mr.. Brown
said. That was admitted at first by
Enright, but changed the next day. 1t
also appears to be fictitious as far as
RYAN Is concerned. It appears to have
been simply means OF giving $4,000
TO the Commissioner. There may be flo
necessity Of calling either Enrigh. or
Ryan to the stand In this matter. but I
shall read the facts into the record"
Al shown by Ryan's Records.
The records OF Allan A. Ryan & Co.
as given before the committee show the
purchase. ION April II. 5000 shares of
Morton pete for $10,156," and that II
was sold five days later for $3.50
share.
"A Ryan syndicate owns Morton
Petroleum. / am informed" said Sena-
tor Meyer. Mr.. Ryan could have sold
the stock to himself for 50 a share. or
for any other price. That makes It all
the more fictitious"
None Of the committee members was
present when Mr.. Ryan arrived at its
offices. 3s Park Row, yesterday fore
noon with his books. He sat alone In
the hearing room for twenty minutes
while the sergeant-at-nrms commune
Gated with Senator Meyer and made
arrangements for acceptance of the
books. MIR. Ryan was very particular
about delivering the papers. and after
talking several minutes with the COM
mittce's representatives hurried away,
declining to say anything for publica-
tion.
Fully as great interest attaches to
the subpnnalng OF Hughes's Wall Street
account as was expressed in Commits
sioner Enrieht's stock transaction.
policemen. He was a power for years
In the Police Department.
On the certificates OF several physi-
clans Hughes was retired In February,
1918, on a pension of $3.50. Although,
he had a police surgeons certificate OF
III health the retirement was a SUBJ
ject of inquiry by several Grand Jurics
including the Almirall and Whitman
special juries. Nothing ever resulted
from the Inquiries.
Two years after he was retired from
the Police Department Hughes pur-
chased Allan Ryan's big estate ut Sur-
fern. and now resides there part of the
year. u is one Of the fine estates In
Rockiand county, the property nclud-
ing n residence Of twenty-five rooms
.0nd flfty-six acres OF gardens and i'm
7rovod lands.