The Birmingham age-herald., 1924-08-18
RYAN IS TRYING TO WIN FORTUNE
 LOST BY FATHER
Son Of 'Stutz' Hero Be- gins As Active Trader
 On New York Curb

NEW YORK, Aug. 17.--Allan A. Ryan, Jr., 21, who was graduated from Yale few months ago began trading on the Curb exchange as member Thursday. His father dropped some $5,000,000 by his corner of Stutz four years ago, and young Ryan will try to win it back where it was lost.
 Young Ryan bought the New York Curb market membership of A. R. Ullrich. He was sponsored by 0. w Carpenter of Rockwell, Carpenter & Cutler of No. 72 Trinity Place, where he will make his headquarters. The firm is one of the largest on the Curb
 Since leaving Yale, young Ryan has been busily engaged in fitting himself for his chosen task. With Rockwell Carpenter & Cutler, and with several stock exchange firms where his father and grandfather had spoken in his be- half, the young man has tried out all the lower rungs of the brokerage ladder. In three months he has been a stock runner, stock clerk, margin clerk and order clerk, and he now feels that he is qualified to test his trading skull.
 Father Not Active
 Although Allan A. Ryan maintains an office at No. 115 Broadway, he has not been prominent in the market since his discharge from bankruptcy but despite the disastrous ending of his experiment in Stutz, he is still regarded in Wall Street as a shrewd and daring operator. The young Ryan, according to his associates, has but one end in Wall Street. Both Allan Ryan and his father, Thomas Fortune Ryan, have many friends in Wall Street who ex- pect to help the younger Ryan along by giving him their Curb business.
 The fortune which young Ryan sets out today to rehabilitate was built up in the early days of the war. It was said at one time in his career that Allan R. Ryan could ''cash in" for $25, 100000. He was president, di- rector and large stockholder of at least half a dozen large corporations, and was one of Wall Streets biggest opera tors in the stock market. One of the companies which he controlled was Stutz Motors, the stock of which in the early part of 1920 was selling around par. While Ryan was ill there was several vigorous attacks on Stutz stock by Stock exchange bears, who believed that it was selling too high. On his return to business Ryan decided to punish them, and he set out to corner the stock and force these bears to pay his price for the stock they had sold short.
 In this bitterly fought drive Ryan ran Stutz up from below par to above 500, when the governors of the Stock exchange called halt on the corner and expelled both Ryan and Stutz Motors. Later the stock sold above 700 in tho auction rooms on the bid of shorts who sought frantically to cov- CT their previous sales.
 OVertaken By Disaster
 With the corner smashed by the lack of a market, disaster overlook Ryan. The final was the filing of a bankruptcy petition on July 21, 1922, in which Ryan's assets were put at S27, 100000 and his liabilities of $32, 100000. His Stutz stock, of which he had acquired 134,414 shares in his corner operations, was later sold at public auction at $20 per share, by the Guaranty Trust company for Charles M. Schwab. The same stock sold yesterday at $5 per share.
 Interested brokers, commenting yes terday on young Ryan's ambition to win back his fortune, said that he was following the old Wall Street axiom ''the place you dropped it, is the place 10 pick it up."