Park Ryan Inc. was a

municipal bond A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often ...

firm on Wall Street, founded in 1953 by Darragh A. Park Jr. and James Van Pelt Ryan. The firm, based at 70 Pine Street (the American International Building) specialized in government tax-exempt bonds, and later in

sinking fund A sinking fund is a fund established by an economic entity by setting aside revenue over a period of time to fund a future capital expense, or repayment of a long-term debt. In North America and elsewhere where it is common for government entiti ...

financing. Park, Ryan participated in numerous syndicates for bond offerings led by large investment banks such as

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated, doing business as Merrill, and previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investm ...

, and Dillon, Read & Co., occupying a secondary position alongside such firms as Roosevelt & Cross, Kean, Taylor & Co., and G.H. Walker & Co. The firm was a participating underwriter in the sale of '

Big Mac The Big Mac is a brand of hamburger sold by the international fast food restaurant chain McDonald's. It was introduced by a Greater Pittsburgh Region, Greater Pittsburgh area Franchising, franchisee in 1967 and expanded nationwide in 1968, and ...

' bonds for the

Municipal Assistance Corporation A Municipal Assistance Corporation (MAC) was an independent New York State public-benefit corporation created by the State of New York for purposes of providing financing assistance and fiscal oversight of a fiscally-distressed city. Two MACs are ...

, created by the State of New York in 1975 to deal with New York City's fiscal crisis. James Ryan died in 1964. After Darragh Park's death in 1973, Leonard J. Collins succeeded as Chairman of the firm. Collins decided to close and liquidate Park, Ryan in 1979 in response to declines in the bond market caused by the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of ...

's tighter monetary policy. In 1983, a group of investors led by Little Rock, Arkansas bankers Glenn R. Schultz and J.A. McEntire III purchased the firm's name, and opened several branch offices outside of New York. The firm ceased operating in the early 1990s.

References

{{reflist 1953 establishments in New York City 1979 disestablishments in New York (state) Companies based in New York City Defunct financial services companies of the United States Financial services companies established in 1953 Financial services companies disestablished in 1979 Former investment banks of the United States