Evening star., 1924-08-17
THIRD RYAN TAKES
ALLSTREET;STAND
Grandson of Once Famous
Broker Already Strikes
Terror Into Foes Heart.
BY Consolidated Press.

BY Consolidated Press
NEW YORK, August a6-The old
blood tells. And that is why an
other fighting Ryan is going back /
to Wall street to resume the fight
of the Ryan clan against the butt
ing bulls and the choking bears.
The name OF Ryan has been a
power in the street" for two gen [
erations. Now third Ryan is about
to take up the battle. The old
grandfather, Thomas Fortune by
name, beat Wall street and all its
willy ways. His son, Allan A. Ryan,
went broke" in n spectacular at
tempt to corner" Stutz stock and
crush the brokers who dared to sell
it short" Thomas Fortune Ryan
would not help his son, so he was
ousted from the street. The name
of Ryan was dragged in the dust.
Now along comes Allan a. Ryan,
jr, just out of college, starting out
in small way after a seat on the
curb exchange. but with his eyes
fixed on the big board" and de
termination in his heart to regain
his fathers fortune and to make the
name of Ryan once more 1eare"
wherever the bulls and bears gather
over "a fateful ticker.
From his retirement. watching him
is the 13-year- old man whom wall
street called the shrewdest trader ol ;
his time, the man who organized the
Southern Railway, the American
Tobacco Company and the Seaboard
Air Line Railway, built Chicago's
elevated loop and merged the trac-
tion companies of New YORK INTO the
Interborough, who purchased controi
of the Equitable Life Insurance Com
pany in a bitter fight with Harri-
man and held the five greatest banks
of New York in the hollow of his
hand.
Mems Much 10 Veteran.
1t means more to Thomas r. Ryan
| than to any one else to have the name
of RYAN back on the street, because
he was the original fighting Ryan.
! He dared to fight Whitney Harri-
man, Belmont and any others VINO
| crossed his path. He was the most
powerful figure of the street "heh
| he retired and the failure OF his son
! left him bitter, although the son hao
| been estranged from him ever since
he called his fathers second mar
| riaee. II days after his first wife
! died. "disrespectful and disgracetul
..If somebody doesn't stop him.
william G. Whitney warned wall
! street, when he was hghtlng win
| RYAN in the SOS. he'll have every dol
| lar in wall street iNthheii'N'''iS
I that the street has already begun l"
watch the Younger Ryan
Bcxinnings Similar.
| The beginnings in finance OF the
grandson and grandfather are much
| alike. 4 giant in stature. but only :"
years old. Thomas Fortune Ryan
came to New York in 1871 by way
! of Baltimore where he clerked in ii
| department store and begged jobs
| from door to door OF the famous
brokers of the street. He had II"
money. but he had cunning and Vi
| sion and daring. Before he was SO
| Ryan had married the daughter
| of the man in whose store he mao
| cl,rk.d in Baltimore organized the
| Seaboard Air Line hallway and had
his first million. Whitney had learn
ed that Ryan couldn't be stopped ana
was allied with him in deal that
won control of the metropolitan
| railways.
| At the height of his turbulent ca
| roer, marked by an unsuccessful neht
| with Hartman for the control OF The
! Union Pacific and a successful fight
| with Hartman for the control of the
| Equitable Life-a fight that brought
about the Hughes investigation and
| a cleanup of the insurance business
! Ryan held directorates in and COLI
troll of 81 companies, including the
| biggest bank in the United States.
! He owned three life insurance compa-
nies, a big block of American To-
| bacco, control of the Seaboard, of the
Georgia Railway. the Georgia Bank
and Trust Company. the American
| Surety Company, a big block of the
! southern Railway. the Pere Mar
luette. the Hooking Valley, and. in
! addition to various other interests,
! was advancing money to King Leo
pold for the development of the kon-
| go Free State.
In return. as dividend. King Leo
pold sent him % diamonds.
Won Great Notoriety.
The Equitable fight won Ryan his
| greatest notoriety. He and his aSso-
| ciates had almost majority. Har-
| riman and his held almost a majority--
| James Hazen Hyde held the block of
| stock that gave control. Hartman
had tried for years to control the
! Equitable; Ryan had only recently
| turned his attention to it. Ryan per-
| suaded Hgde to sell him the control
ing block. Hartman was in a rage.
He threatened Ryan. and, failing in
that. cajoled him. Ryan held on 20
Equitable and organized a trusteeship
headed by Grover Cleveland. just out
| Of the presidency.
Ryan retired in 1908 with more mil
| lions than he could count, his son AL
| Ian taking up the fight. Allan or
ganized the Royal Typewriter Com
Dany to fight the trusts" He also
was daring trader, and the market
| followed his movements. While he
was ill in 1920 bears began a drive
on Stutz stock and drove it low.
| Ryan was angered and purchased
| every share of the stock he could get
his hands on. He drove it from about
par to 1919 a share and caught brok-
.rs. who had sold short" He forced
them to pay up, some of them buying
the stock as high as 500 a share to
| deliver it to him upon his demand.
He had paper fortune of s35,00O,0O0,
lut he had wiped away the market
.or his stock. Two years later, as a
result of the Stutz fight, he went
broke" with SIG in cash and $5,-
| 100000 in unsecured debts.
1t is to avenge this defeat and to
recoup. this fortune that Allan, jr,
has entered "the street."