New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Buyers to Hold
Pershing So.
ForVictory Hall
Henry Mandel, for Interests
Represented in Purchase,
Says Building Project Will
Be Held Up Until Fall
Await Funds Campaign
If the Site Is Desired for
Memorial, Then 1t Will
Be Sold at Small Profit


nc represented in purchasing Pershing
Square from the city will not proceed
with their proposed twenty-five story
building until the Victory Hall Asso-
citation concludes a fall campaign for
funds 70 construct a war memorial
there.
The association, by legislative act,
has the power of condemnation, but Mr.
Mandel made it plain that he did not
expect the association to acquire the
property. and considered the property
OF such hi n commercial value that the
association would look elsewhere and
select a cheaper location, Offering a
better setting for the magnificent struc-
ture planned.
But Mr.. Mandel assured General
George ". Wingate, president of the
Victory Hall Association. that il the
property is desired it will be sold to
the association at low pront. providing
decision is reached within a reason
able time. He wrote:
Our purpose in obtaining this site
should in no way be confused as an
attempt to procure this property for
the purpose of making handsome
profit from the association at a later
date, or at such time as it may be
in position to purchase same. AS a
matter &c fact, should we complete final
negotiations for this property we wish
20 - +r
willingly transfer this property to the
Victory Hall Association with little or
no profit to ourselves. should we still
hold The same at any time within a rea-
sonable period that the association is
financially able to purchase it.
Improvement Is Imperative
"You. of course, understand that this
property once offered for sale is of
such great value and the demand of
immediate Improvement is so impera-
tive rs to make it OF very little valu
in lis present uNimproved state; that
il cannot be reasonably expected of q
private purchaser to retain it in its
present state pending the success of
the Victory Hall Association in obtain
ing funds for its requirement is evil
dent.
w feel and recognize, however
that the Victory Hall Association has
an interest, if not claim, to the final
disposition of the property, and, in
deed, believe the New Yor kpublic
also ooncprs in this. This condition
tends 10 be retarding influence in the
matter u investing capital in a com
mercjal enterprise for this site, and
under the circumstances, may we ask
an expression from you, as president
and spokesman for the Victory Ball AS
Soeiat. n, whether we should, in your
opinion invest capital for the pur-
chase and Improvement Of this site in
view Of the conditions above outlined. "
General Wingate wrote in reply:
iosi'ioh OF ASSOCIATION
"The site is in two townships, one
part BELONGING TO the city and the
other II ,ee storage warehouse CON;
panv. SO We could Tot feven if we had
the man.,3 afford 10 buy either. IN
les v nave the authority to condemn
the e.Aer IF the price asked for it was
rea,or4fla We pxnected 10 procure
the passage of the law giving us this
altn9TitF last January, so ,nat we
money required about April. But the
oDpOSltlOfl, particularly by the Guy, Qe-
layed the passage Of the law until
about Mav.
"To ORGANIZE such e movement prop
erly is q complicated matter Of several
months. The summer was upon US
when u,sple are out of town; the
Prrsid .r.tr.I carepaipn was commenc-
inc. and in conseoueoce we fixed our
da+a e. N-o,-e,,her II which. at the re-
onesf 30 paI Cross and the hos
- -.a $40 1.-Two If +boir own
aIout >-',...r,5nr we CHANGED Ia
TbeTi..-,,.;,.c, 1a,,
~W. So. . [.o.ora1 com noi+tee Of five
br,s,.3 - 80 lo--di,o, c;ti4ens If the
ci-.. 49, st,ane. hnard Of directors
a .,65s oa.~. farce bova nrenared our
gerarol -. ,,,,Ger no hest advice we
coul1 ,rer,,re and arc arranging tc
ST. IN ssta,~si,,a onnaa1 ~ thot date
w. ~ 10 ;dao = efF y+,.onoe,S nonrla,
ana e, 49, 80 va sbaIl oct Ne
e t+t w. ,ro1s +ba,
va re,rs,dt s 1s ,I.o a. r,o iii nrrchase
tben j','. ,.,.,, oo, W 49, rannop;ze ~ a.
il ,.o,, ~. va SoaI;r ~. ;rcr,
anv otftoatio. - Se % ,,nlass wa bave
tho f,,,'{s 80 f,, &c Nv :. 81 "''-'
'''1' ~ N'''' '''
Willing to Pay Bonus
av7o ooo;o. ,:u,,. .,4
sbo" W. appieciate hignly VIVA. you, W." ";
s tor,. NY yg1T ElIo INTENTION 'o"ato s'o.
t Sl' n'''i' ana desire 10 meet you ~
v v'oe same sPlflt. we recognize that II
on@', IN addition to paying you the