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Thomas Fortune Ryan and his Family
Page entitled : Allan Aloysius Ryan and the Stutz
corner
Content of this page is about :
How Allan A. Ryan successfully defended Stutz Motor stock against the
attacks of the Wall Street bears until he cornered the market and
potentially ruined them
Extract :
…
At
the end of March 1920, Stutz stood at an all time high of $391 and the
shorts were squeezed, Ryan ending with holding more than the total available
shares in his portfolio and the contracts he held for future delivery. He
had successfully cornered Stutz in the New York Stock Exchange, if that was
his original purpose.
The
bears were caught, potentially ruined, threatened to loose their seats on
the NYSE or even to go to prison for breach of contract. But ...
…
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