The Washington times., 1922-07-22
RYAN FAILURE
. NOT To Affect
. STOCK MARKET
Chief Creditors Fully Protect
ed and Friends onlysAre
Likely to Lose.
By b. C. FORBES.

Authority on Business and Finance.
CWritten tor Cosmopolitan News seryice.)
NEW YORK, July 22.-The Allan
A. Ryan bankruptcy isn't "a $780,
000, 900 failure" as II is being called
by some persons In Wall Street.
The fact Is that II isn't a particular.
ly important failure at all.
Not one.tenth as many persons
will suffer a dollars loss as Buf.
fered In more than one Of the recent
bucket shop failures.
The Wall Street banks, to which
Ryan owes millions, can be de.
pended upon to have protected them
selves pretty well. Not one OF them
was caught unawares. They all
knew what -uas IN Ryan's affairs
for the last two years and have had
plenty Of time to corral security
for their advances to him.
Friends Chief Losers.
Among the heaviest losers will be
Ryan's- personal friends who came
to his assistance after the collapse
Of the notorious "Stutz corner" two
years ago. Among them are Harry
Payne Whitney. who Is famous for
his, loyalty and his generosity to
friends who get into difficulties,
and Charles M. Schwab, who used
to have close relations with Ryan
and who did a lot to help Ryan to
win his way toward the top before
Ryan kicked over the traces.
Allan Ryan's father, Thomas
Fortune Ryan. is rated as one OF
the half dozen richest men in
America. The public will ask:
why didn't Thomas F. Ryan
come to the rescue Of his SON."
The reason Is well known in inner
circles. The son was incensed when
his father remarked within a very
short period after his mothers
death. and openly and publicly
voiced his Indignation. It became
understood Immediately after this
that the elder Ryan was SO furious
that he vowed he would cut of
Allan from all share in his huge
fortune-estimated at anywhere
from $50. 900 900 to 500 100000.
Chased As Smart"
Five years ago a man Of large
affairs in the financial district said
TO me:
careers Of our foremost financial and
business leaders. You ought 70
write one about Allan A. Ryan. He
is about the smartest man down
here"
replied that Ryan was altogether
too smart for me to have any faith
| in his staying powers. The truth Is
| that the more learned about young
Ryan's Wall street activities the
more skeptical I became Of his
chances Of permanent success. Hit
| operations impressed me as beine
altogether too speculative. too dar'
ing, too risky. too irresponsible.
After the StutE corner affair and
Ryan's expulsion from the stock ex
change, and particularly after the
suit filed against him for a large
sum by his sister-in.law, II should
not have been difficult for anyone
TO deduce that Ryan's explois as a
| fiancier were doomed. A remark
often heard on the street after the
failure yesterday was to this effect
We'll. II didn't take them long tc
get Ryan"
This cynical comment reminded
me of a remark made not so very
long ago by John N. Willys, namely
wall Street never squeezes any
body who doesn't put himself into
| its clutches"
The failure isn't calculated to af
feet the stock market, as there ar,
no Ryan stocks" listed on tn,
stock exchange, and such third-rat,
curb ventures as he sponsored hav,
been dragging along in the ditch
| Quotation-wise, for a long time.