New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-10
Syndicate Offers $2,500,OO6
for Landmark-COurt's
Approval Sought.
TELEGRAPH co. WILL
MOVE TO WALKER 81
Work Begun Months Ago for ST..
100000 Dey st. Structure
Time Ball to Stay.

a syndicate is planning TO buy the ole
home of the Western Union Telegraph
Company, at the northwest corner Of Dey
street and Broadway. II il succeeds In
getting control of the property-snd there
seems to be 10 obstacle in the way--tht
syndicate will pay s2.50oO00 for this vel
known landmark Of the time when tai
commercial structures first appeared ir
! lower Manhattan.
The project became known yesterday
when the Western Union Telegraph Com.
pany asked permission Of the courts &c
sell the building at the price named The
request was made in the form of friend
~ action brought by the telegraph COM
pany against the Farmers Loan and
Trust Company, as trustee of the West
ern Union bonds. In the action permission
is asked to withdraw the property from
the mortgage given for the bond issue and
for the right to dispose OF the property
at the terms offered.
The present home of the Western Union
Company was erected in 1874 from plans
by Richard NJ. Hunt, who was one OF the
leading architects OF his day. Red brick
was almost exclusively used on the IA
cades Of buildings put up IN Manhattan
in the 70s, and this Broadway landmark
with its dark red colored front, Is one
OF the few remaining structures OF those
early days.
Steps were taken by the company to
replace the landmark with twenty-eign'
story skyscraper several years ago. The
preliminary plans for the structure were
filed August Q. 1912. They called for
building which would have frontage OF
, about IS feet on Broadway, 20 feet on
Dey street and SO feet on Fulton street
Williams Wells Bosworth estimated th'
cost of the proposed building at 5000"
| Mark Eidlitz & Son got the contrac'
soon afterward the work of building
mart Of the structure was begun on the
premises. No. IA TO IS Dey street. That
mart of the structure is already In the
hands of interior decorators ana VIII 90
open early next year.
II was necessary to erect the westerly
part of the skyscraper first, so as not 10
' interfere with the vast business ot the
comnanv. II was planned TO move the
| telegraphing apparatus of the company
into this annex soon after the new year
and then break ground for the coulple'
ton of the Broadway frontage.
The Western Unions business VIII mol
| he transferred from the old structure ~
the annex if the court looks with FAVOR
on the proposition to sell the site 10
syndicate. The great army OF telegraph
operators and others connected with the
sending and receiving of messages over
the lines of the company are 10 ps
housed under the roof Of the Ne" iorh
Telephone Exchange, facing IN walker
| and Iispenard streets, between OhuTe"
street and West Broadway, about Jahu'
| ary I. when that structure VIII De Open
| for occupancy.
I II was thought in real estate circles las'
night that the syndicate in question VII
| he a subsidiary concern of the telegraph
| company, and that after the ehtlte "e"
! home for the site is completed the hlaIh
| executive offices Of both the western
Union and the New York Telephone COM
panies will be located there.
| Diagonally opposite the westerly ha!l u
the new Western Union building Is the
Cor,Iandt street exchange OF the Ne"
York Telephone Company. Accordins u
a rumor. that building is not modern
enough for the present demands OF 'ns
telephone company, and may be entiTely
rebuilt in the near future.
The oldtime ball atop the old home oil
the western Union, by which thousahas
OF persons set their watches, is to % on
ton of a flagstaff Of unusual length on
tower Of the new building. The ne"
building is TO be of white faced brick