New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-07-22
Ryan's Failure
For 81 Million
Partly Secured

(con,inu.5 frcn psss 'nsl
the bankruptcy courts. Thus the hnan-
cial district was inclined 20 explain the
filing OF the petition at this particular
time.
Free Assets s6i3,533
Mr.. Ryan, director NJ many corpora
tions Of his own making, described bini-
self in the petition as member Of the
brokerage firm Of Allan a. Ryan q Co.,
Of III Broadway. and his residence as
80 East Thirty-eighth Street
or his enormous liabilities Of S32,-
435.477. according 20 the petition. S2i,-
sOG. q94 represents secured claims, be-
ing chiefly loans from banke. His free
assets were given as only S6i3,533. The
schedules reveal that the Guaranty
Trust Company, which some month"; ago
readiusted its financial statement %
write Oft all detorminable losses, rs the
largest creditor, with a secured clam
Of ss.s22,555 against Ryan personally.
The account OF his firm with the Guar
anty is given as sl3,54S,69s.
In the petition the amounts OF the
claims Of the secured cerditors and the
present value Of the collateral ware re-
earded as somewhat misleading, since
they do not include Stuz Motors or
other companies whose shares are not
regularly traded in tho open market.
The following comparisons arc gwen
but II should be noted that the hgurea
regarding present values arc not all
inclusive:
List Of Secured Creditors
Among the secured creditors the fol-
lowing were listed:
Chase National Bank. S3,456129;
value Of collateral, S6G777c.
Mechanics and Metals National Bank
81 400. 963; value Of collateral, s25S.5O.
First National Bank, SC3,067; value
Of collateral unknown.
Lawyers Title and Trust Company,
$3.50 ,OS9: value Of securities unknown.
Empire Trust Company, $lo6,7O5;
value Of securities. $4,000.
Guarantee Trust Company, SS,o22,-
$685. value Of collateral, $1,000 000
Owned by Allan A. Ryan and pledged
TO Allan A. Ryan 4 Co. and pledged by
them 10 the Guaranty Trust Com
pany, Sl3,543,6s9 value Of collateral,
1929 .04s.
The petition shows among the I'M
secured creditors are Samuel Inter
myer, for legal services, $4,000; Guth-
ric, Rand g. Kresel, who are his attor-
neys in the bankruptcy proceedings,
$4,000; II. Content. brokers' ac-
count; Charles VI. Schwab, credit bal
anee OF S309555; Harry Payne Whit
ney and associates, S1,093568, and
Sarah Tack Ryan, for moneys ad-
vanced, s2,s6O,G69.
Lost Fight With Exchange
When in August, 1920, the banks 70
whom Mr.. Ryan was indebted AZ time
when the securities used as collateral
| had shrunken enormously in value in
a way that threatened 20 jcopardize
the loans, and the banks acted 20 safe
guard their interests, IL was reported
that Mr.. Ryan, who had only recently
emerged from his single handed yet
violent tussle with the forty govern
ors Of the New York Stock Exchange,
became indignant az the action Of the
guardians Of the money reservoirs. He
told reporters that he was going TO
Washington 20 report the action Of
the banks 70 John Shelton Williams,
who was at that time Comptroller Of the
Currency. Nothing resulted from this
mission.
In the past Mr.. Ryan has been con-
spicuous for his willingness 70 shat
ter Wall Street traditions and air his
views and conduct his arguments in
the public prints, but yesterday he was
silent, willing neither personally nor
through his attorneys 20 add anything
20 what was contained in the formal
legal documents. Mr.. Ryan has de-
MED himself publicity for several years,
on the advice Of Mr.. Untermyer. whom
he engaged after he had fled suits
for damages for $1,000. 900 against Of
fcials Of the New York stock Ex-
change.
Associates Not Involved
Associates who once derived prestige
from contact with Mr.. Ryan yesterday
afternoon OF necessity fastened 10 ex-
plain they were not involved in the
bankruptcy From three Of his creature
corporations, the Morton Petroleum
Company, the Ryan Petroleum Corpo-
ration and the Ryan Consolidated,
emerged this routine statement which
reveals the spirit Of the dramatic de-
movement Of the speculative career
Of Allan A. Ryan, trader extraordinary
and satirist unrivaled Of the methods
Of the Stock Exchang:
"The three corporations are in no
way affected by Allan A. Ryan's bank
ruptcy. Mr.. Ryan is an officer and
director in the corporations. and be-
cause two OF the corporations pore his
name he had a sentimental interest and
attachment thereto. .
"The active management Of the cor
porations, however, is directed from It's
Offices at Bartlesville, Okla, with A,
d. Morton, the president, in charge
"Mr. Ryan has at no time particle
pated in the management Of the cor
porations. except by way Of counsel
and advice from time TO time when an
occasion suggested.
"The corporations have no funded
indebtedness and no indebtedness other
than current expenses. with the ex-
ception OF small purchase money
obligation on one q its properties, nov
being d2ily iquidsted BY run OF half