New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-07-24
Ryan's Affairs
To Be Aired at
Meeting To-day
Attorney Caffey, Receiver in
Bankruptcy Case, to Call
Conference of Bankers
and Other Creditors
Brokers' Counsel Silent
Value of Operators Interest
in His Firm, Listed as AS
set, Not Yet Determined

The affairs of Allan A. RYAN silent
Yesterday over a quiet midsummer
Sunday, the one or two persons CON
nected officially. with the colossal,
bankruptcy of s32.435, 0oo which came.
paradoxically. after n successful mar
yet corner, one that left a trail Of
trouble, stating that they had ex-
nausted their scant funds Of informa,
ton available for publication on Fri
day and Saturday.
upon two important points connected
with Mr.. Ryans voluntary petition in
bnnkruptcy, which Judge Augustus N.
hand received late Friday afternoon,
ana a upon which he appointed former
icy receiver, authoritative information
IN advance of an investigation, it was
SAID could not possibly be obtained
=. 1nese points are, first, what valua-
ton can be placed upon the collateral
forming the security for the bank
loans, some of which was lower than
the amount of the loan even at the
time the transaction took place, and,
second, what the 30 per cent interest
aeid by Mr.. Ryan in Allan A. Ryan &
co. really represents.
Miller's Information scanty
David Hunter Miller, attorney for
the receiver, said yesterday thav his
knowledge on these matters last then
was negligible. Mr.. Miller said chat
~nite Mr.. Ryan's petition was a per-
sonal one and did not bring in the
hrm che value Of the so per cent in
terest in Allan A. Ryan & Go. as an
asset in favor of the creditors would
depend upon the situation existing be-
tween the bankrupt and the company
OF Ms name at the time Of the failure.
IN this connection the securities de-
livered by Mr.. Ryan to the firm and
then rehypothecated might play an i'm
portant part.
There are many angles of the bank
ruptcy petition to be considered, Mr..
Miller said, and until the receiver has
gone. over the ground and has become
familiar with it it is difficult to ex-
plain the intricacies of the $4,000, 900
failure.
Colonel Caffey had arranged to leave
town Friday night to be gone until To-.
dav, Mr.. Miller said and had been un-
able to postpone his trip when notified
of his appointment as receiver Hence
he had had no time to examine the
bankruptcy, except most specifically.
Conference May Be To-day
There is to be conference, probably
to-day of the various interests CON
cerned. Mr.. Miller said that Colonel
Caffey had fixed neither time nor place
and had not issued the invitations but
that he knew it was the receivers de-
sire to hold such conference at the
earliest possible moment and to 20
over the situation before proceeding
further with his duties.
Besides Mr.. Miller, the only other
person who responded to the telephone
yesterday was George L. Lewis, Mr..
Ryan's attorney. Mr. Lewis when
had been out playing golf all day and
had not been asked to join in confer
ence up to that time.
Neither Mr.. Ryan nor myself ex-
pect to make any statements" Mr..
Lewis said, "unless something impor-
tant happens that we don't know about
just now. l have not been invited by
Colonel Caffey to go to any conference
up to the present, but if l should be
asked, shall in all probability CO."
Thought Ryan Had Balance
When the Guaranty Trust Company
and Alvin Untermyer, acting for vari-
GUS banks, executed trust deed with
Samuel Untermyer, attorney for Mr..
Ryan, on December Is, 1920, it was
said that, in the course of time, liqui-
datlon of Mr.. Ryan's assets undoubt-
eddy would net him substantial mar
gin. This statement was made after
Stutz stock had dropped from $3.50
share on the New York Stock Exchange
to place on the curb. The properties
behind Mr.. Ryan's assets then were
said to be worth much more than the
amount of the loans.
John Shelton Williams, then Comp
troller of the Currency, said in state
ment issued at Washington, that Mr..
Ryan seemed to have no loans with ma
tional banks that "do not appear to be
sufficiently covered by collateral"
This statement was made after Mr..
Ryan had gone to see Mr.. Williams
and, as reported at the time, TO seek the
Comptroller's assistance in a fight
against the banks who had moved to-
ward the trusteeship.
Mr.. Ryan's visit to- Comptroller Will
liams. who wished Wall Street to drop
it's call loan methods and adopt the
English plan as more reasonable, and
his retention Of Samuel Untermyer,
who had been advocating for several
years the incorporation of the New
York Stock Exchange under the state
laws, were said to have caused surprise
to the bankers, who insisted that their
trusteeship was imposed merely to
safeguard their loans. The collateral,
they said, had shrunk "sensationally"
t1. fax