MEMOIRS BY DR. SAMUEL H. SUTHERLAND PRESIDENT EMERITUS June 20, 1986 Page 11 - Tape 1
time, and a very well-known real estate developer in southern California, did not give up on the idea of purchasing the lot across the street. He got his staff to do some research and discovered that the man who owned the lot lived in the California Club, which adjoined the same parking lot. They discovered that the man was willing to sell the lot for $65,000. It was approximately 150 feet wide and 300 feet deep. Dr. Myers was interested enough in it to put down a $5,000 deposit with a 30/60 day option. He said at the next Board meeting that he thought the purchase of the lot was a good idea, and that it was such a good idea in his thinking he put down a deposit, and if the school didn't want to buy it, he would buy it himself. He added, "I'll pay the $65,000 for it, and in three or four years' time, I'll sell it to the school for $150,000, and you men will think you got a good deal." Well, that brought the men to a halt with quite a jerk. And the upshot of the whole thing was that they wheezed and snorted around for awhile and
Made with FlippingBook flipbook maker