New-York tribune., 1922-08-03
Guaranty Trust
Bids In Ryan's
Stutz Stock
iuetion Gains More Than
5000, 900 for Securities
Held by Banks as Collat-
eral for Loans toFinancier
Shares Average $40
AmouEa Received Is Much
Below Indebtedness I'm
der Old Trust Agreement

rounauv by virtue of its purchase
vsstersay at the auction of securities
,.,d by it, the Chase National Bank,
,.s Mechanics and Metals Sank and
.,bsrs as collateral for loans to Allan
. pvan and to Mr.. Ryan's brokerage
s-m The sale, which was under the
ii,ec,ion Of Adrian II. Muller & Son,
,sali1ed more than $3,6oo,ooo of which
tosss 2S7 came from the sale of 1884,
III Is shares Of Stutz stock. The
csarau.y Trust gained control by vir-
asa NJ being the successful bidder for
,esq4I.s shares of 100000 outstand-
,nr st $40 a share. The Empire Trust
bousht i,60u shares at the same price.
There were about three hundred in
tsrestsd persons present in the ex-
,haugs salesroom, II Vesey Street,
when the sale began. and large pro-
pUrtion remained to the end of the bid
ding, although many departed after the
first few blocks OF Stutz Motor went at
$40 a share. The bidding Jagged in most
instances and only on one or two oc-
easions was there any opposition to
the bids Of George L. Burr, represent
ing the Guaranty Trust Company, for
whose account the larger part of the
securities were sold. Stutz advanced
10 10 on the Curb market yesterday,
gain Of 81 points for the day.
Below Bank Debts
Securities offered by the trust COM
pany, which included assigned claims
against thirteen persons, brought ST.
s92.l5381, which was considerably be-
low what Mr. Ryan owed the banks
under the trust agreement dated De-
cember 10, 1920, under the terms of
which Francis c. Galley, receiver for
Mr. Ryan, sought TO restrain yester-
days auction. At the hearing Monday
before Judge Augustus n. Hand it was
shown that Mr.. Ryan's obligations to
the Guaranty Trust and other banks
exceeded S7,000,000.
One of the competitions between
bidders was for s1,551.42 notes of
Henry L. Boyer, the last note maturing
February is, 1923. Mr. Boyer, or a
representative, sought to bid in the
notes below par, but Mr.. Burr ran the
bidding up to $1,000 and Mr.. Boyer
withdrew.
In the bidding for assigned claims
against persons on account of Allan A.
Ryan & Co. customers accounts receiv-
able, subject to defenses, offsets and
counter claims, there was no opposition
except in two cases. AS a rule the
claims were bid in by Mr.. Burr for the
Guaranty Trust at 81 900 to $4,000, de-
pending on the amount, but in the case
Of 6. F. Lewis, former attorney for Mr.
Ryan, against whom there was listed
claim Of S4,540.19, the bidding started
at 80 cents and continued with small
advances until SIS was reached Mr..
Lewis bid SIC, but the claim finally
went to the trust company for S100.
Bidding for the S31,359.73 claim against
{. o. Connor also was prolonged, start
ing at $1,000 and continuing by easy
stages until S2,325 was reached, when
3lr. Burr jumped the bid to $4,000 and
the opposition ceased.
Bid In Other Stocks
Other stocks in Mr.. Ryan's assets
sold as follows: 200 shares of Chicago
Pneumatic Tool at $71 share, 1000
shares Times Square Auto Supply (de-
Stromberg Carburetor at 421s, and
l,2Qo shares at 40; 1000 shares Bethle-
hem Motor Corporation at "a cents a
share, and 90 shares at SO cents; $500
shares Argonaut Salvage Corporation,
S5O lot, and 6,125 shares Times Auto
supply Company (new), 81 900 for lot.
Continental Candy Corporation per
cent gold notes of 1923 and 1924 matu-
mites sold for about per cent of face
value, while Knox Hat Company per
cent notes, maturing in 1923 and 1924,
eoid above their face value. The 1923
matunues, amounting to s20,01924,
snc s the 1924 maturities, amounting to
&oOl9,33, each sold for $4,000.
"DETAILS OF the sale follow:
..r For account OF whom it may concern;
SOW snares Stutz Motor Car Company Of
.annAerlea, Inc, no par, per share $40
'osv shares stutz Motor Car Company of
aherlca, Inc, no par per share 500
1'eVe shares Stutz Motor Car Comnanv of
Aatnhe,ica, Inc, no par, per share $50
- snares stutz Motor Car Company OF
l noS oSe'neIlca. .e. me no par. per share. $50
( Der p'epss sh chicago Pneumatic Tool Co.
Co snases sa Times Square Auto Supply
~ g., deposited stock. lot. sfoo
Of Arra., Seronoerg Carburetor Company
, ooo TA Ainerica Inc. per share. SO 5o
AvoV shares Bethlehem Motor co.,.Ioo' 80 oV
$1,000 |5o Coniir,o.n,,.;, s...:......... a4c
fS9, 0eht notes due 1924 January
as.! coupons attached; sloo oo0 0H ronty onty'
si notes IA CahGy Corporation 5 per cent "C.
attaSbed. ~ aIe ~ lSZo, January, 1921. coupons
shares Stut2 Motor Car Comnanv ~
sisg iHsgHeriea. rb Inc. no par per share ,p~ $40
posi-, posi- INC nc (new company oertfs. of pas dey
rona,,ti "a asslgnment of claim against
S0nssolldsted Distributors Inc, essnrs. ansI
s'sIs'S+ Us shares Times Square Auto srSaIv S1Tv
cs.,,dc.' d5hc.' second preferred, voting trpst
ee''iiloates per share 'iuss
For account OF c,,,.ra,t,. No.. 20