MEMOIRS BY DR. SAMUEL H. SUTHERLAND PRESIDENT EMERITUS June 20, 1986 Page 13 - Tape 1
exorbitant price, to which they said, "If you get $250,000 for it you'll be lucky!" Ray Myers held out for $350,000. There were two or three individuals interested in the property for the lower figure. The Superior Oil Company wanted the lot as a part of the complex which they had in mind to be erected at the corner of 6th and Flower. They wanted it for their parking area, but they did not want to pay the price. So there was dickering which went on for quite some time. Finally, Ray said that if we couldn't sell the lot for $350,000 clear to anyone, we would hold it ourselves, put up what was then called a pidgeon-hole parking lot several stories high to be used for parking automobiles, which was a very popular new concept in parking at that time. Ray set a deadline at 2:00 p.m. on a certain date and informed Coldwell Banker who had the exclusive option on it. I had lunch with Ray on that particular day. When we got back from lunch about 1 :30 p.m., we went into his office and waited until the deadline, which
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