New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-17
HE WOULD RULE OR RUIN.
JAMES A. BAILEY OFFERS $50 A SHARE FOB
STOCK IN THE BIG GARDEN.
PLANS PREPARED FOR An OPPOSITION BUILD.

PLANS PREPARED FOR An OPPOSITION BUILD.
ING TO BE USED IN CASE OF REFUsAL-HIs
PROPOSITION NOT YET ACCEPTED
James A. Bailey. one of the propretors OF the
Rrnum and Bailey Circus. declared yesterday
that he would either get control of the Madison
Square Garden stock or would put up building
of his own in which his circus and the National
Horse Show Company could find accommodations
superior to those offered in Madsn Square Garden.
Mr. Bailey says that the statement that he Is
seriously contemplating putting up another build
ing Is not idle talk, for he has already secured
an option on a piece OF property largo enough
for his circus, and in more central location, ne
says. than the Madison Square Garden. Mr..
Bailey says he has gone even further than ~
curing good site for his proposed building. he
has had plans drawn for the new structure
and from what he said yesterday the proposed
building is to be something similar to the Crystal
Palace of London. At any rate, he says, 1t VIII
be light, airy and with all the modern conven.
fences. lie will not build il he can secure sat-
isfactory terms from the Madison Square Garden
Company hut If he cannot the new structure,
he says, will be ready to be occupied long before
the spring OF 1904
Charles Lanier and his son, J. F. D. LAnier, who
are directors of the Madison Square Garden, when
$50 share as most ridiculous proposition.
They said that the stock was worth fully twice
that amount, and that the circus owners offer OF
$50 would grow stale II ne waited for the stock.
holders acceptance Of 1t.
In reply ia this Mr.. Bailey said: why Is IL.
then, that firm Of brokers at Wall and New SITS.
recently advertised the sale Of Madison Square
bonds at IS or 81, and that stock, instead OF
bringing $780, was sold for only So? David II.
King, the builder of the Madison Square Garden,
sold nearly all Of his 100000 worth Of stock
for $22 share.
G.. " Morgan, who is associated with Mr..
Bailey in the management OF his affairs said that
letters bad been received from many of the share
holders Of the Madison Square Garden. and they
were anxious. lie said. for Mr.. Bailey to assume
the management of the Garden. MIR. Morgan
with Mr. Bdileys authority. said: Tho share
holders outside Of few directors are utterly dis
satisfied with the present management and for
that reason they are anxious for a change in the
condition of things Within the last year the
stock has been offered for S25 without takers
The two largest tenants of the Garden Company
are the Horse Show Company and the Barnum and
Bailey circus Without tie support of these two
concerns the Garden company could not pay the
interest on its bonds and its running expenses.
The Barnum ard Bailey show is honestly
| conducted on sound business principles
and it is Mr. Bailey's desire as stockholder
in the Madison Square Garden Company to con-
duct the Garden in a similar manner. The Gar
| den can be made successful enterprise, and Mr..
Bailey, with his trained business ability. can DO
| II The letters we have received from stock.
! holders are encouraging but we know that the
opposition to any change of management does
| not lack strength and if Mr.. Bailey does nou
| have something to say about the future manage
ment OF the Garden new building will be buue
which the Horse Show Company. the circus ana
| other public amusements could use on terms una'
would be satisfactory. The plans for the puno-
| ing are already drawn and it will be structure
that will meet all the needs for public entertain
| men,s II will be mostly Of iron, but there
| will not be any unnecessary towers. IL VIII
be on the London Crystal Palace order. ana VIII
be roomy and light We have contract WIN
| rho Madison Square Company for this year onV'
and beginning March IL the circus VIII De tnete
| for five weeks Our connection with the Siaoi'
| son SQUARE Company, however, Will emo alter 'he
circus leaves the Garden in April Il the cnanse
we hope for does not take pa aaice' ,robsblv know
whether the new building is to go up or no. Gao
proposition said Mr. Bailey can IN maSs to- but
he will not find stockholders who VIII sen ioI INV
isure am perfectly satisfied with the I'd inye s,n
| IL T ba we made in the Garden stock ana an
men. no ,a;t for returns ! received q copy OK
I r Baeys letter ut could not think OF enter,
tanning any such offer The stock 49, y To navy
W. Ra"v's talk about putting up new ouiiains
is simply the old story lie cannot ma an appsU
pirate site centrally located If ne oa mo onen.sir
NJ a moS Show had The present management OF tho
aren Company is doing all that eau be done No
changes are needed" ,.-.ou so;d ha did not
r. ~ ~ all ~ length about Mr. Bailey's PROPOSE
ian " II think said he that the Madison
Somare Garden Company is doing all 'ha' eau 70
done