American financier. Mr. Ryan played a key role in numerous mergers and business reorganizations that took place about the turn of the 20th century, including those resulting in the creation of the Metropolitan Street Railway Company and the American Tobacco Company. Ryan came to New York at 21, joining the New York Stock Exchange in 1874. Later, in company with such notable financial manipulators as William C. Whitney, he became involved in the consolidation of utility companies in New York and elsewhere. In 1892 he organized the Metropolitan Street Railway Co., a large traction syndicate in New York City whose securities-holding firm, the Metropolitan Traction Company, is considered to have been the first holding company in the United States. The syndicate ultimately merged with August Belmont's Interborough Rapid Transit Company in 1905. Through a series of mergers, the American Tobacco Company, organized in the 1890s, enjoyed a virtual monopoly of the American tobacco market until the company was ordered dissolved by the federal government in 1911. Ryan also had interests in railroads, coke, coal, diamonds in the Belgian Congo, oil, rubber, and lead. Shrouding his operations in secrecy most of his life, Ryan was little known to the public until 1905, when he purchased control of the floundering Equitable Life Assurance Co., arousing the protest of policyholders. Later he turned the firm over to trustees. In 1908 Ryan was accused of misdealing's, but a grand-jury investigation failed to substantiate any charges. Ryan announced his intention to retire in 1912. Re-establishing his roots in his native state of Virginia, he had since 1901 maintained "Oak Ridge" in Nelson County, formerly the estate of tobacco trader William Rives and later of former Confederate and U.S. Congressman William Porcher Miles. Ryan also became as a Virginia delegate to the Democratic National Convention in 1912, which selected fellow Virginian Woodrow Wilson as the party's presidential candidate. In 1916, Thomas Fortune Ryan was also the principal financial backer of John T. Thompson's Auto-Ordnance Company for the purpose of developing his "auto rifle" and the Thompson Submachine-Gun. On October 17, 1917, on his 66th birthday, his wife Ida died from heart disease. Twelve days later, the widower Ryan married widow Mary Townsend Nicoll Lord Cuyler. Ryan lived out his years with Mary at Oak Ridge, they traveled a little, Mary began to have health issues. Ryan died On November 23, 1928, in Manhattan. His body was placed in the receiving vault at Calvary Cemetery, Queens, Ny. Once it was decided to build a mausoleum at the Oak Ridge Estate, Nelson Co. Va. His widow Mary & Son Clendenin hired Messer, Carrère and Hastings to design & build the mausoleum. Building started in summer of 1929 and Finished in December 1929. The bronze Doors were created by famous sculptor Lawrence Tenney Stevens. Mr. Ryan's casket was taken to Cathedral of the Sacred Heart In Richmond, Va. where it was kept until completion. He was then entombed in the Ryan Mausoleum on the Oak Ridge Estate.
American financier. Mr. Ryan played a key role in numerous mergers and business reorganizations that took place about the turn of the 20th century, including those resulting in the creation of the Metropolitan Street Railway Company and the American Tobacco Company. Ryan came to New York at 21, joining the New York Stock Exchange in 1874. Later, in company with such notable financial manipulators as William C. Whitney, he became involved in the consolidation of utility companies in New York and elsewhere. In 1892 he organized the Metropolitan Street Railway Co., a large traction syndicate in New York City whose securities-holding firm, the Metropolitan Traction Company, is considered to have been the first holding company in the United States. The syndicate ultimately merged with August Belmont's Interborough Rapid Transit Company in 1905. Through a series of mergers, the American Tobacco Company, organized in the 1890s, enjoyed a virtual monopoly of the American tobacco market until the company was ordered dissolved by the federal government in 1911. Ryan also had interests in railroads, coke, coal, diamonds in the Belgian Congo, oil, rubber, and lead. Shrouding his operations in secrecy most of his life, Ryan was little known to the public until 1905, when he purchased control of the floundering Equitable Life Assurance Co., arousing the protest of policyholders. Later he turned the firm over to trustees. In 1908 Ryan was accused of misdealing's, but a grand-jury investigation failed to substantiate any charges. Ryan announced his intention to retire in 1912. Re-establishing his roots in his native state of Virginia, he had since 1901 maintained "Oak Ridge" in Nelson County, formerly the estate of tobacco trader William Rives and later of former Confederate and U.S. Congressman William Porcher Miles. Ryan also became as a Virginia delegate to the Democratic National Convention in 1912, which selected fellow Virginian Woodrow Wilson as the party's presidential candidate. In 1916, Thomas Fortune Ryan was also the principal financial backer of John T. Thompson's Auto-Ordnance Company for the purpose of developing his "auto rifle" and the Thompson Submachine-Gun. On October 17, 1917, on his 66th birthday, his wife Ida died from heart disease. Twelve days later, the widower Ryan married widow Mary Townsend Nicoll Lord Cuyler. Ryan lived out his years with Mary at Oak Ridge, they traveled a little, Mary began to have health issues. Ryan died On November 23, 1928, in Manhattan. His body was placed in the receiving vault at Calvary Cemetery, Queens, Ny. Once it was decided to build a mausoleum at the Oak Ridge Estate, Nelson Co. Va. His widow Mary & Son Clendenin hired Messer, Carrère and Hastings to design & build the mausoleum. Building started in summer of 1929 and Finished in December 1929. The bronze Doors were created by famous sculptor Lawrence Tenney Stevens. Mr. Ryan's casket was taken to Cathedral of the Sacred Heart In Richmond, Va. where it was kept until completion. He was then entombed in the Ryan Mausoleum on the Oak Ridge Estate.
