Ownership History
In October 1931 a Federal judge appointed the Irving Trust Company as receiver in the bankruptcy of the Harper Organization, Inc., and Harris H., and Percy Uris, its officers. The defendant corporation owned the Dixie Hotel. James B. Regan, formerly proprietor of the Knickerbocker Hotel, was another appointed receiver.
The hotel and bus terminal were sold in March 1932, during the Great Depression, to pay a debt of $2,058,540. The property was valued at $2,300,000. In April 1932 the Southworth Management Corporation, headed by Roy S. Hubbell, assumed control of hotel operations. Hubbell formerly managed the Hotel Commodore and the Hotel Belmont in New York City. The Southworth Management Corporation was affiliated with William Ziegler Jr. The company had jurisdiction over the site of the demolished Hotel Belmont at 42nd Street and Park Avenue (Manhattan). Hubbell, whose primary residence was in Pelham, New York, died in October 1932, in his bedroom at the Dixie Hotel. He was 55.
The Carter Hotels Corporation took over management of the hotel in 1942. In 1976 the company allocated $250,000 for renovations and sign alteration in an effort to clean up Times Square. H.B. Carter, president of the company, wanted to change the hotel's name to give one of the establishments in the chain a corporate identity. The firm controlled four other hotels in Buffalo, New York and Boston, Massachusetts.
Vietnamese businessman and former ship owner Tran Dinh Truong purchased the hotel in October 1977. The Carter was described as an establishment which caters to middle-class tourists which has suffered with the decline of the surrounding area.
Read more about this topic: Hotel Carter, Manhattan
Famous quotes containing the words ownership and/or history:
“They had their fortunes to make, everything to gain and nothing to lose. They were schooled in and anxious for debates; forcible in argument; reckless and brilliant. For them it was but a short and natural step from swaying juries in courtroom battles over the ownership of land to swaying constituents in contests for office. For the lawyer, oratory was the escalator that could lift a political candidate to higher ground.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)
“I assure you that in our next class we will concern ourselves solely with the history of Egypt, and not with the more lurid and non-curricular subject of living mummies.”
—Griffin Jay, and Reginald LeBorg. Prof. Norman (Frank Reicher)