Born in Toronto, Ontario, New was educated at Upper Canada College and the University of Toronto. In 1913, following the death of his father, he took over the family-owned Toronto Sewer Pipe Co. He eventually merged his successful business with two other Ontario companies to create the National Sewer Pipe Company.
A resident of Oakville, Ontario, Ryland New was active in church and community affairs. During the Great Depression he served as Chairman of the Executive Committee of the Federal Home Improvement Plan established by the Government of Canada in 1937 to provide subsidized interest rates on rehabilitation loans for housing. His wife Helen served on the 1950 Royal Commission On Education In Ontario. A member of the United Church of Canada, in 1954 Ryland New donated the funds that helped build the Halton Region presbytery.
The owner of a number of Thoroughbred racehorses, Ryland New maintained a racing stable in Oakville. He won the 1927 Kings's Plate with Troutlet and the 1930 running with Aymond. He served as vice-president of the Canadian Thoroughbred Horse Society (CTHS) for a time and for many years remained on its Board of Directors. In 2002, he was inducted into the Canadian Horse Racing Hall of Fame in the Builders category.
Ryland New died in 1979 at the age of ninety-one and was buried in the Mount Pleasant Cemetery in Toronto.