The New York herald., 1922-07-22

wants of his housc lold. Cash on
hand" is reported as only SIG.
Guaranty Trust Chief Creditor.
BY far the largest creditor is the
Guaranty Trust Company, which. as
trustee, took over Mr.. Ryan's assets
early in 1921 when he was struggling
difficulties dating from the famous
Stutz corner of 1920 and largely caused
by the slump'in the stock market in
which he was heavily involved.
According to the schedules Mr..
Ryan owes the Guaranty Trust Com
pany $s.459,o3o. and against this the
company holds his securities valued
at $1,773.9SS, plus the undetermined
actual value Of customers accounts
receivable on December 10. 1920. by
Allan A. Ryan & Co.. whose face value
is given as $1,342,943.
In addition to this Mr.. Ryan is sched-
uled as owing his own firm $13.543.69S
on securities owned by him but pledged
to Allan A. Ryan & Co. and repledged
by 1t to the Guaranty Trust Company.
The value Of these securities is put as
S529,040.
Mr.. Ryan, according to the formal
schedules, owes the Chase National
Bank $3,456,42s, the Mechanics and
Metals National Bank $1.402.963. the
First National Bank $53.06765. the
Lawyers Title and Trust Company
$389.0S9 and the Empire Trust Company
S166.705. These are among the creditors
listed as holding securities"
r Banks Not to he Disturbed.
The position of the banking creditors
OF Ryan will not be injured in any way
through the receivership proceedings 1t
was intimated yesterday. These banks,
1t was said. have what collateral they
hold against Ryan debts so tightly tied
up that the appointment Of a receiver
will have little or no effect.
| George II. Burr. vice-president Of the
Guaranty Trust Company, was the only
one of the bank officials involved who
would make a statement. Mr.. Burr
! declared that the receivership action
has been nti,ipated anG provided
against by the Guaranty Trust Com
pany. He said:
Our interest In the situation results
from loans made on collateral to Allan
A. Ryan e. Co. on our own account
and in our capacity as trustee for
| others. The collateral has been in pro-
cess of liquidation for some time and
will be in no way affected by tho bank
ruptcy proceedings"
Mr.. Burr declined to indicate to what
| extent the collateral placed by Ryan
against his loans from the Guaranty
had been liquidated.
| Ryan in Seclusion.
Neither Mr.. Ryan nor his attorneys
had a word to say. The bankruptcy Pc
tition was fled about p. M. Reporters
who dashed to Mr.. Ryan's Office. III
Broadway, found scrub women cleaning
UP. Later Mr.. Ryan was said to be in
the office Of his attorneys. II so. he kept
In seclusion.
George r. Lewis of Guthrie, Jerome.
Rand & Kresel. who succeeded Samuel
Untermyer as the Ryan attorneys some
time ago. said there was nothing to add
to the fact that the papers had been
filed and that nothing would be said
by the firm or by Mr.. Ryan. No copy
OF the petition and schedules could be
obtained from the lawyers and the fig
ures had to be copied from the docu-
ments filed in the Federal Building.
| The securities pledged by Mr. Ryan
for loans are listed in detail. including
many shares OF Stutx, the skyrocket
stock Of 1920. For the first time. as
appears in the table printed elsewhere
the public learns the nature of the se-
curities held by the Guaranty Trust
Company and the fact that they have
been held as collateral for three loans.
| The Guaranty holds more than 100, 900
Stutz shares.
Every Small Bill Listed.
More than 100 creditors who do not
hold securities are listed. Mr.. Ryan has
put down everything including sums
| owed for jewellery, toilet articles, club
dues, wearing apparel. meat and vege-
tables, his children's tuition at school.
doctors bills, shoes. drugs, lawyers
fees, furs. ice. hat. furniture. fish,
theater tickets. telephone calls. toys and
laundry.
Among tho apparently unsecured
Kresel. legal fees. $4,000; Samuel
Untermyer, legal fees. $4,000 and DR..
Hermann M. u Biggs. professional
services. $4,000. Mr.. Ryan's wife.
Sarah Tack Ryan. has claim OF $2.-
S60.669 for cash advanced In 1919 and
1920. Coleman du Pont Is a creditor
for $4,000, and there ia an item. &C.
w. Schwab. credit balance owed by
Allan A. Ryan & Co.. s309.555.47."
It was said at the Federal Building
that the man meant was probably
Charles M. Schwab.
stutx Man Hns No Automobile.
Other apparently unsecured creditors
are Harry Payne Whitney. Elizabeth #.
Sinclair and David E. Thomas. Mr.
| Whitney and his associates claim
$1,os3,56s. Mr.. Ryan owes the Govern
ment $4,269 and the city sass In taxes.
His statement OF property assets indi-
Gates that despite his connection with
stutz and his generosity In past years
In the matter Of giving a car to Police
Commissioners Enright. Mr.. Ryan now
owns no automobile.
He owns an 80 per cent interest N