“That’s where those fellers are wrong,” said Mike, “I agree with Nat and
Scanlon that the Eighth Avenue car barns would be the best location. The
trend for amusements is to the midtown section. It will soon be the heart
of the theatrical district. Everything is moving up towards Fiftieth
Street.”
Thus did this man of foresight visualize New York’s future. The job
of negotiating for the land was turned over to Jacobs. According to
fable, the Garden was financed by a group of 600 millionaires, each of
whom contributed the sum of $1,000. The fact is that $5,600,000 was
required for the building and the car barns, and Jacobs manipulated the
deal whereby Rickard obtained the funds. After giving Rickard his first
$25,000 to turn over to Judge Mayer to show good faith in the proposed
purchase, Mike negotiated a bank loan for Tex for an additional $100,000
to start the ball rolling. It was not until then that a six-man syndicate
headed by banker Richard F. Hoyt, came in, with the rest of the money.
As for the 600 millionaires, they each put up $1,000 at a later date to
become life members of the Garden Club. In return for their money, they
also were given stock.
Mike Jacobs, as Rickard’s agent, was handsomely rewarded for his loan
and his very important part in the negotiations. He told me his prize
totalled $117,000. It was only after the property had been bought that
it became known that Rickard had been working on a “shoestring” and that
had it not been for Jacobs, he would never have been able to put over the
deal.
As for Scanlon, the man who originated the idea and who with me, had the
first plans for the new Garden drawn up, I don’t know whether he ever got
any money from Rickard, but I received from Tex the sum of $2,500 and
some stock, in settlement for my claim against him—small amount, to be
sure, but being friendly with Tex, I decided not to press the issue.
That’s the story of how the present Garden came to be, a story of
intrigue that made Tex Rickard and Mike Jacobs millionaires.
[Illustration: 14]
DESTINY’S PARTNERSHIP
As surely as there is a tide in the affairs of men, there are men marked
out by fate to be carried by that tide to fame and fortune. All the
forces of destiny seem to conspire to give them the breaks. Such a man
was Tex Rickard.
George L. “Tex” Rickard, boxing’s man of destiny, died on January 6,
1929, at the age of fifty-eight. I knew him intimately for a quarter of
a century. I wrote the story of his life and acted in a confidential
capacity for him on many occasions. I have no hesitation in saying that
he was one man in a hundred million marked out by fate.
President of Madison Square Garden, acknowledged king of the boxing
world, Tex Rickard lived long enough to put the fight game on the big
financial map and to make himself and many other people millionaires.
The Grim Reaper claimed him just as he was about to retire and, for the
first time in his career, enjoy himself by taking things easy.
Public-domain text, read in full here on John Shaqi.
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