The daily morning journal and courier., 1907-06-12
.ULLMAN STILL
 HOLDS OPTION Refuses to Accept Return of Binding Money and Cam cellation of Contract. SITE IS LEGALLY HELD MT. Leddy Admits That He is Bound if the. Colonel
 Insists.
SITE IS LEGALLY HELD

Carrying out his promise made at the meeting of the west end citizens held Monday evening Frank A. Leddy on be- half of Edward Malley yesterday aft errcon wrote to Colonel 1. N. Uilman asking him to release him from the option given on the property at Derby avenue and Boulevard and returning by check the $i0O paid on May z to bind the option. Mir. Leddy supposed that this would end the matter So far as MT. Malley's property was concern ed. But 1t seems not. Colonel Ulman declines to give MT. Leddy a release from the option and stated yesterday that he had written to Mir Leddy tell ing him that he wished to hold the op- ton. In this letter he returned to MT. I.eddy the $lOO check.
 Mir. Leddy when seen last evening stated that he had sent the letter re- questing the release from the option to Colonel Ullman and the $10O check. When asked if he had received the let ter sent by Colonel Ullman he stated that he had not yet, and was some- what surprised at the intelligence. He said he had seen lawyer on the mat ter and had received the information that if Colonel Ullman insisted on re- taining the option he could legally do So and that MT Leddy would be bound until the colonel chose to release him. Mir. Leddy said that of course he was bound If Colonel Ullman returned the check and was not willing to release him from the option and that as far as he was concerned he could do noth- ing more.
 The option, he said, which Mir. Nal ley gave to Colonel Ullman was not given as matter of speculation as he could hold the land and sell it later to better advantage. Mir, Leddy said that the option, which would not expire un- til August 12, named a price of $S, ,000 for the land without the present build ing or s7,000 with the building, which of course, means $6,OOO, as they do not want the building for anything" This price is below the assessed valuation of the property, which Is $S,600. Thus, it is evident that Mir Malley was not at- tempting to make money on the propo- sition. In fact, according to Mir. Led dy's statement, the option was given in the belief that Mir. Malley would be conferring a benefit on the city. He stated that no one had urged the site for hospital on behalf of MT. Malley but that when the site had been sug- gested Colonel Ullman had asked MT Malley to make a reasonable price or the land as the city wanted 1t. The re- suit was the option.
 Continuing MT. Leddy asserted that MT. Malley was not at all desirous oi selling the property and that he would not sell it to private parties for the price offered the city for a hospital. "so far as we are concerned we would lie to see the matter dropped now, We are not anxious to push it and shall make no effort to have the sale com pleted,"
 "Mr. Malley owns large amount of property around here, probably more than any other holder in this end oi the oity and we would not do anything to hurt our own property. We still stand pat on the belief that the hospi. tai would not be injurious to property about here,'
 The matter of the Derby avenue site will come before the aldermen next Monday night for final disposition,