When you see the red horse, you know you are in Dallas. In 1997, I tried to get a photo of the red Pegasus sign with a horse in the Pioneer Plaza group. This year (2004), I tried to do it again, and this was the best I could do. The angles are wrong to get a sculpture horse's head together with the pegasus sign.
The "Pegasus" building was designed by Sir Alfred Bossom as the headquarters of the Magnolia Petroleum Company, predecessor to Mobil Oil (which is now part of Exxon). It was the tallest building west of the Mississippi. But by the time I visited in 1997, the building was dwarfed by the surrounding buildings, and the sign stopped rotating, and had been turned off.
In 1997, the building was converted into a 330 room luxury hotel catering to the business traveler. The restored elevator lobby features a decorated gold leaf on a plaster ceiling and elevator doors that feature the Pegasus logo.
As a part of the Dallas Millennium Celebration, the Flying Red Horse neon sign was rebuilt and relit at midnight to bring in 2000. The original sign has been put on display in a shed at the Dallas Farmer's Market.
A description of the building (copied from the website) is:
".. a modified classical design. The 29 story tower consists of a three story base, a U-shaped tower and a top that has a balcony on three sides, multi-leveled penthouses, and an ornamented chimney stack. At the 18th floor, a bridge that connects the two wings of the "U" form a decorative arch at the light well. At the 24th floor, the top of the building steps back and forms a balcony on 3 sides. The first penthouse level is at the 25th floor and the two wings of the building are then capped by a hipped roof covered with Spanish tile. The 26th floor has windows on the north and south walls and is tucked between the roofs of the wings. From the main roof levels rises a 3 story penthouse with the 29th level set back from the remainder of the penthouse. Finally adding to the overall height is a two story chimney stack."
The Pegasus sign has always been aligned with the Mobil Oil Company as their
signature, and before them when they were known as Magnolia Oil.
This particular sign sits above the Magnolia Building in downtown Dallas and has become a Dallas landmark. The sign was restored and rotates.
At night the brightly lit sign can be seen from afar.
The red Pegasus sign on top of the Magnolia hotel has become a historical landmark in Dallas. The hotel was built in 1922 originally for the Magnolia Petroleum Company. In 1934 the famous red neon Pegasus was erected on the roof. It is 40 feet long by 30 feet tall and was said to have in those days, guided people traveling to Dallas as it could be seen 75 miles away on a clear night. The original Pegasus rusted and gained damage through climate over the years and ceased to rotate. A replica was made to put back in its place and can now be seen rotating again. There are actually 2 neon horses on either side of an oil derrick .The Pegasus is still a symbol of Exxon Mobil Corp. who became Magnolia Petroleum's successor.
In 2001, more than 200 Pegasus statues, decorated by local artists, were installed in downtown Dallas. Companies and individuals were then invited to bit at auction for any of the statues. The idea originated from the red neon Mobile Pegasus sign, which has been perched on the downtown Magnolia Building since 1934. The money from auction went to benefit Dallas's Adopt-a-Monument and ArtsPartners programs. The highest bid for one sculpture reached $6,900.