cars and trolley at the bottom of the Magnolia Petroleum Building, Dallas, Texas, 1933

The 29 story Magnolia Building at 1315 Commerce Street was completed in 1922 and was originally the headquarters for the Magnolia Petroleum Company. In 1934, the company erected its trademark neon Pegasus on the building's roof (the Pegasus later became the logo of Mobil Oil who merged with Magnolia Petroleum in 1959) to celebrate the American Petroleum Institute's annual meeting, held in Dallas for the first time. The rotating winged horse came to represent the city of Dallas and became one of its most recognizable and endearing landmarks, even after the building became obscured by much taller skyscrapers (the neon Pegasus, which was recreated in 1999, can now only be seen in the downtown skyline approaching from the south).

Mobil moved out of the building in 1977 and it is now the Magnolia Hotel. It is listed on the National Register of Historic Places.