Willie Hammerstein big draw. Oscar Hammerstein went bankrupt in 1898. The Olympia theater was sold in an auction. Hammerstein managed to raise enough money to build the Victoria Theatre, which opened as a legitimate theater on 3 March 1899. On 26 June 1899 he opened a partially enclosed roof garden theater, the Venetian Terrace Garden, with an outdoor promenade that was attached to the roof garden of Hammerstein's Theatre Republic in 1900. Hammerstein enlarged the roof garden theater and reopened it in May 1901 as the Paradise Roof Garden. In February 1904 Willie Hammerstein took over management of his father's Victoria Theatre.
Oscar Hammerstein II Hammerstein's musicals were named to the "Songs of the Century" list as compiled by the Recording Industry Association of America (RIAA), the National Endowment for the Arts, and Scholastic Corporation: Hammerstein won two Oscars for best original song—in 1941 for "The Last Time I Saw Paris" in the film "Lady Be Good", and in 1945 for "It Might as Well Be Spring" in "State Fair." In 1950, the team of Rodgers and Hammerstein received The Hundred Year Association of New York's Gold Medal Award "in recognition of outstanding contributions to the City of New York." Hammerstein won eight Tony Awards,