Word: loudermilk
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Dates: during 1949-1949
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Shortly after, Hilton decided that Dallas needed a new hotel-and he built it by a fabulous deal that Dallas still recalls with wonder. He started by persuading George Loudermilk, an ex-undertaker and a large landholder, to give him a 99-year lease on some Dallas property he owned. Then he used the leased land as collateral for a $500,000 bank loan. Hilton put up $100,000 of his own money, and raised $200,000 from friends. He needed another $150,000, and he borrowed it from the contractor who was to build the hotel. Then...