Ogden Standard-Examiner | 1920-04-25 | Page 1 | Million Made by Broker in Stutz Stocks

Allan A. Ryan $1,650,000. Richer by Reason of Recent Re-cent Transactions NEW YORK, April 24. Allan A. Ryan, son of Thomas F. Ryan, is estimated es-timated to have added $1,650,000 to his wealth today when 58 other brokers agreed to pay him $550 n share for stock of the Stutz Motor Car company, which they had sold short at prices ranging from $100 at $391. He and a protective committee representing rep-resenting the short interests signed an agreement ending a controversy which has furnished the greatest sensation in years on the New York Stock Exchange. Ex-change. The controversy began March 31, when the Exchange suspended trading! in Stutz after the price had been jumping rapidly under shorts' efforts to cover. There followed charges and counter charges in which Ryan accused ac-cused members of tho board of governors gov-ernors of being short in the stock and in which other members of the Exchange Ex-change accused him of having aj. illegal ille-gal corner, which would prevent him from enforcing the usual obligation of a broker to deliver stock he has sold. Ryan denied having 'orner and said that as chairman of the Stutz directorate, di-rectorate, he had acted to protect stockholders against raiders. He took Stutz off the Exchange to curb, where! it sold a3 high as $730, and ho resigned re-signed from tho Exchange.