Stutz Revived

Sixteen years ago ''Cannon Ball" Baker adjusted his great goggles, threw in the clutch, dashed lickety-split across the continent. His new record of 11 days, 7 hr., 15 min., brought fame to Harry C. Stutz and his flashy car. Less than a year ago "Cannon Ball" again climbed into a Stutz, made a new record of 60 hr., 51 min. But during the 15-year interval many a change had come over Stutz Motor Car Co. of America.

In 1919 Founder Stutz resigned to make his unsuccessful H. C. S. In control of the original company was young Allan A. Ryan & friends. The following year Mr. Ryan formed the great "Stutz Corner" which, despite immediate profits, eventually brought him to bankruptcy and caused the late great Thomas Fortune Ryan to disinherit him. A big result of this manipulation was that two of Thomas Fortune Ryan's friends found themselves loaded up with his son's stock. They were Charles Michael Schwab and Eugene Van Rensselaer Thayer, who was then president of Chase National Bank, is now a director of several companies including Stutz.

Soon after the great corner, Stutz began to lose money. But Mr. Schwab clung to his stock tenaciously. Only in 1928 when doom seemed certain did he sell his stock. After that Stutz went the way of all weak companies, almost fell into the mire of bankruptcy. A reorganization plan was put through, the company given a clean start. Last week it was revealed that Mr. Schwab & friends, unable or unwilling to forget their old love, again hold 70% of Stutz's stock with a valuation of $1,000,000. Through the sale of new stock the company's cash position has been strengthened. Through the first five months of this year Stutz sold 207 cars against 451 in the same period last year. True to his true love, Shareholder Schwab drives a Stutz, also a Packard.

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