Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1843-02-21
MISCELLANEOUS.
HOLT'S HOTEL.

Many Of our readers will recolect that
some ten years ago the name of Stephen
Holt was famliary known throughout the
whole country; and when the stupendous
marble structure which he erected in the
city OF New-York formerly called Hollis
Hote) was completed. its cost and magnf-
cence was the subject Of remark through
out the United States. The following in
cdcnts in the life Of Mr.. Holt, which we
take from NY. paper will be found in
,eresting:
The house known as tho "United States
Hotel" and formerly as " Hollis Folly"
was sold today at auction, under mort
gage to the NY. Life and Trust Company
for 500, 900, the only bid. TWAS bought
by Mr.. Samuel Leggett, the mortgagee.-
The premises were mortgaged to the Trust,
we believe, for $l35, 900, bul as Mr.. Leg
gett's bond is good, the Company will pro-
badly lose nothing. The sale was no doubt
for the porpose of clearing off other mort
cages to a considerable extent. The house
was sold about three years ago under a
foreclosure, by the same company, and
was bought by Mr.. Leggett for $4,000.
The history Of this house and It's original
proprietor, shows the instability of human
calculations, and the effect Of INSTRUCTED
enterprise and lack Of judgment. When
Stephen Holt commenced building that
house, he was confident Of realizing for
tune 10 a year, and although some of his
old friends endeavored to induce him to de-
sist from the enterprise, he persevered
AID was ruined. MIR. Holt was born in
Andover, Mass. where his father was
farmer. Mr.. Holt was brought up cab
met maker. He afterwards removed to
Boston, where, we believe, he failed. He
came to this city about 1912, and while
our troops were entrenchcd on this island,
he kept a sort Of suffers booth at Harlaem.
The troops, however, fond Of eating, were
not good paymasters, and Holt became in
volved in debt. He then opened Il small
store in Front, few doors from Fulton,
where he was burnt out in 1916, when the
whole block was destroyed. He soon took
the benefit Of state insolvent law. We
then find him occupying a cellar in State
Market, and removed to the house in Full
ton street, now occupied by Mr.. Burgess.
Here he opened an eating house, one OF the
first respectable eating houses in this city.
! From that momeat the tide Of fortune chan
ged, and wealth rolled in upon him. He
added house to house, until he occupied
the three buildings opposite Water street.
From this location he removed to the oppo-
site corner of Fulton and Water, where
| - ho loo e n
nifcent hotel, which Sd soon a(terward was
his ruin. At this time he was worth SIXTY
THOUSAND DOLLARS, having raised himself
from tho deepest poverty, by his own unal-
ded, indo nitabIe industry The hotel was
commenced lst Of May 1881, and was
opened in 1882. No one who was here at
that time, can forget the excitement occa-
stoned by the event, and the crowd oipeo-
pie who filled the vast building on the day
it was opened to the public. Holt, thai
day, would not give Mr.. Astor fifty dollars
boot to change places. The cost of the
house, land and other furn ture was not fai
from $500, 900, although probably no one
ever know exactly how much II did cost
For the lot on the corner Of Water anc
Fulton. the Brothers Port received $s25,-
600; Jordon Mott, received $50, 600 for the
lot on the corner OF Fulton and Pearl SITS,
and for other parcels about $4,000 a 10
were paid. The house covers eight small
lots. For short time the house did goot
business, but soon the bubble burst, anC
Mr.. Holt, who went in with sixty thousand
dollars, came out without shilling 10 com
mence the world anew. His industry ano
enterprises. were, however, the same. anC
he has since kept eating houses in ditferen
parts Of the city, and of late in the house
occupied by Recorder Rkcr in Fulton ST.,
with what success we do not know. After
Mr. II. left the house, it passed into sever.
al hands, ard was profitable, we believe,
to none. There appears 10 have been g
fatality about the house. Two Of the oc
cupants, at least, and two Of the builders
have taken the benefit Of the Bankrupt Act
II has now solo for 100000, or $l2, SOC
per lot on which it stands, counting tbs
house and furniture nothing. Twenty
years ago; one of the lots sold for more
money.