New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-11
ANXIOUS ABOUT THE GARDEN
WONDERING WHAT WILL BE DONE WITH H.
80 DEFINITE PLANS MADE TO SELL TIT NAY

BECOME HOTEL.
The news that the stockholders Of the NaoiSoh
square Garden had decided at their meeting q"
Tuesday to Offer the property foi sale was re-
ceINed with good deal OF Interest In many phh'c'''
Although many suspected that the big amusement
enterprise had not been financial success there were
few outside OF the director, and stockholders VINO
knew how complete the failure to make money l'u
been. There We're no ne~ developments In the sI'ua
ton yesterday. Both the majority and the m"o''N
stockholders rested on their after the ski
msh OF the day before Frank X. sturgi'' presheh'
OF the company. had made definite plans iof u"
disposition OF the property.
:" II Is too sOon,' he said TO Tribune reporter mS'
evening 10 say what will be done. have not even
called the committee together yet. l shall do so III
few days.
Have you received any offers for the property y
asked.
"No. But have consulted with experienced real
estate men 10 what II would bring"
ais II likely TO be bought BY any OF tho present
stockholders and managed as at present.
al do not know. | do not think that The property
can be- made 10 pay Amusement institution
merely. !, is TOO large The fixed expense for ifh'-
Ing heating. insuring taxes care, etc. are about
$4,000. Add $4,000 for repairs and the special
expenses necessary for the different shows which are
gwen, and You have over 100000 year Only
aout $4,000 was taken IN last year.
win capital of s4,oo0,Ooo. 1t seems
to ne that tie property would be extremely valu
abb, for hotel. The alterations necessary wonld
be comparatively slight. The walls Up and he
cela.s dag All that would be needed would Or
partitions for dormiterIcs and inside arrangements
The lite wcld be superb. The Fourth-ave. and
Broadway surface cars would H. handy. and both
the Tlird.ave. and sixthave. elevated roads would
be re;r BY. The theatre could he left intact and
also Tie roof garden. that guests could 20 :"
entcrtanemnis without leaving the house In short.
make it like The auditorium IN Chicago This IS only
an idea. There may be other uses for The Garden
better iii. II ANYBODY wants 1: for purpose
whatever we are willing 70 sell 1t Tor fair price
simon II. stern OF Stern Hushmore. vino Is
counsel fl Mr.. Bailey. was seen by Tribnn" re
porter at his orice. No. 10 Wallst.
II do not know whether there have been Offers
for the Garden or not" said Mr.. stern. &C. All
know Is Tat went IN :he meeting yesterday ana In
troduccd resolution asking for an investigation 81
the compaiy's affairs and that Nr >turc. holding
proxies for majority Of III" stock. voted down ms
resolution ;nd passed resolution offered ly himself
10 uppoint Il committee ~ what oncr, could be-
got for tie property
Has Mr. Bailey any idea Of purchasing IT,
Not that know Of"
at /, runorci thai !. Picrponr Morgan ana other
bGdholder, nav make an offer
Il have not heard Of IT,"
VII SNl'~ DE- lahrl ~ NJ larry OF my hl Inv
minority stockholders before the committee make,
H. rcporti"
Il cannot say"
Joseph AnRu>tlni. who WAS appointed member Of
tr committee 10 offer the property for sale.
al his Oinc" No. - Broad 81. ai. ~ the afternoon
q" / went 10 the meeting yesterday as stakeholder
In crested In my holiings~ h. said Il arrived late
All knew nothing Of what was 10 be- done. had
received the circular which NJ. Bailey around
te Stockholders. bat did not pay much attention IL
II - far rs ! Lnow. Mr.. >tif.rs's proposition 10
sal The propcrt, madc Oh the spur Of The moment.
did not wish to scrvr on The committee. a, / have
enough 10 DO besides. but a. the urgent request OF
NJ. >tur.S. who T. Ihy p r-nnal friend. consented
10 do | have not heard from INA to-day. and
Il no, know what his plans are
What {, Your own opinion TO ia" management
othe Garden In The pat and Of IT, pO,,iblI'irs n
| TIA FUTURE
Well. IL seems 10 me that 4 great deal Of elbow
ant should be- made 10 the management account
81 ,hOfin"., Oi the time durin. which they have
! becI at work. II j. Il iie "nerpris" aud IT taA"
/ unt for such a biz enterprise 10 get TO running
/ sinO hy. The first two 81 three year, MT .
/ fair c.i reason why the ,Hidrn cannot
be- ndc 10 pay. II >Dm" one thoroughly familiar With
/ the I OF amusing and entertaining people /, pat
| In clfge. That j. what j. nccded most of all some
one hO las had experience In getting up shows
| ana ! sorts OF schrinr,. and who "ill know what
| SOFT engagements will be- profitable. 4 city nhr
people here growing MOI" and mUfr liz" the
! Tr'nclin their desir" for excitement. The Garden
ITSELF. he theatr". and IN" magnificent roof garden
ought pay handsomely"