The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1922-07-26
YOUNG RYAN
IS BANKRUPT
FOR MILLIONS
Son Of Great Wall
Stree t Specula laBi,n.
and F n a n G ieI
Makes Big Splash

NIdhSos Dig DpldoA
New York. July ,21.-AllanE E
Ryan, generally regarded asSoneoS-
Wall streets most spectacular on
orators during the war boom
riod and the SON of Thomas Fer
tune Ryan, from whom he has beers
estranged for years, went bank
rupt today, listing liabilities
32,435,477, Of which s25SG6sSS4s
are secured claims, and his: aSsefs
at ss4s.5SS. ss:,:<s
His voluntary petition in bank
ruptcy, which comes asa startling
climax to one Of the stormiest fIy
ancial careers OF the present gem
Grafton, indicates the wipipg out 1ss
fortune variously estimated from
s5,000,0oo to $50, 900, ,9eo. Val
street, which began to count young
Ryan out as soon as he was exc
PEELED from the New York Staseks
exchange June %, 1920, fellowing
mis- sensational corner of Sfugz
motor stock, was neverthe9ess
shocked by the immense amoaNEs
Of liabilities which the young fit-
ancier had assumed. - -;
Neither Ryan nor his attorneY
George F. Lewis. would make ANY
comment on the bankruptcy fo-
ceedings beyond. stating that
schedule. tells the story.
schedule lists the assets ana ia
bilities of Allan A.. Ryan, perseia
ally, and the firm Of Allan a. yan
e. Co., of which he was president
Ryan's greatest exploit was his
sensational corner of Stutz motcr
stock which, with his resultant ex
pulsion from thea stock exehanss
is held by his friends to have sbeeh
directly responsible for his :ananrsass
ruin.
/ Ryan and his associates aEe III
{1eged to have bought 81, eco shares
of the stock for themselves dasIfg
the month of March and to have
used the alleged corner toS force
up the price OF the stock uHfasr
had reached 4s391 a share on March
81. Trading in stutz naoseFs
suspended and an indefinite Mora
torium was declared, in hisflss
there could be no calls for deliverE
Of shares. Later at thesreqneSs
of Mr.. Ryan the stock was strlck-
en- from the list. 80 s. 8
Governors OF the stock exchange
after an Investigation declared
corner existed. but Mr.. Ryan
defied them and is said to haze
made. : the shorts settle Tor,
s551.25 a share. netting him "a,
profit estimated at s1,65o, 900. sSs-sss
Mr.. Ryan was then suInmoaed
before the governors on charges
that he was guilty Of conduct ms
consistent with equitable principles
of trade, He refused to appear
and the governors. after deiberatF:
ing five hours, expelled hda. His
seat on the exchange. which h,a
father had purchased on Ccsober
90, 1874, for about $500 andhsd
later transfer to. him. was sold for
$4,000 to Arthur Gwynn. hes
proceeds OF this sale, which hays
been held in trust, are among his
listed assets. 81
Shortly after his expulsion, Mr.:
Ryan brought suit for s1,96e,eeos
against William II. Remicks tfIss
president OF the exchange; and
members Of the board of govern.
ors. several Of whom, he alleged
had sold Stutz. motor shares
short The suit is pending no
date ever havins been set fora
trial. :,
Ryan's expulsion from theTe eS-
change was heavy blow, to his
prospects, the soealled "wiseacres
generally predicting that his hnansa
cial career would be brief. HISS
father. rated sas one Of the couil-
try's weaIthiest men, was reported
to have privately expressed adna.TsS 3
alton for his. sons courageous hghI
and to have offered to help q,
but no. public announcement OF the
fathers attitude vas ever made am
apparently no help was fortnS
coming. Father and son had been
.estranged for years. the rift be-
tween them growing wider when
the father married second time.
only a comparatively few days after
the death Of the first wife. the
Young inancier's mother.