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ALLAN A. RYAN JOINS DURANT AS BROKER
Publication: The New York Times
Date: 7 December 1921 |
Wall Street Wonders if Connection Means Return of Stutz Motors Figure.
TO HANDLE INDIANA STOCK
Financial Combination Rumored—Official Says New Association Will End All Reports.
Allan A. Ryan, who has played an inconspicuous part in Wall Street affairs ever since the famous corner in Stutz Motors stock, may once again become an important figure in the financial district through his association with the recently formed Durant Motors, Inc., of which William C. Durant, former President of the General Motors Corporation, is head.
It was learned yesterday upon inquiry at the office of Durant Motors that Mr. Ryan would act in a brokerage capacity in handling stock of the Durant Motors Company of Indiana, a subsidiary. This stock, it is expected, will be traded in shortly on the Curb Market, where application for listing has already been made. While Mr. Ryan's connection with the new company, so far as can be learned, is confined to certain brokerage considerations, Wall Street is wondering whether there may not be a financial combination of the two interests.
For some time rumors have said that Mr. Ryan would be identified with Mr. Durant in an endeavor by the latter to re-establish himself as a leading producer in the automobile industry. Furthermore, it was reported that the financial undertakings of the two might involve the taking over of Stutz Motors in the steadily expanding plans of Mr. Durant for a motor company of large proportions. No definite information has been forthcoming on this point.
A member of the Durant Motors Company, however, made the cryptic remark yesterday that “the announcement of Mr. Ryan's association with the stock of the Indiana Durant Corporation would set at rest all rumors regarding the two men.”
Just what interpretation to place on this remark puzzled the financial district. It was pointed out that this might mean a confirmation of all that had been rumored heretofore, or that it might simply indicate that Mr. Ryan's association was to be confined solely to the stock market feature of the situation.
