Savannah morning news. [volume] (Savannah) 1868-1887, 1884-09-25
A Word More About the Hotel
Project.

u
Project.
The shareholders in the barracks prop
erty do not appear to be disposed to con-
tribute their shares to secure hotel. The
MORNING News offered to contribute its
interest in the property, which is as great
as that Of most of the other shareholders,
provided other shareholders would con-
tribute their shares to secure the building
Of a hotel such as has been proposed.
There have been no responses to this offer.
The conclusion is that most OF the share
holders prefer to hold on to their interest
until some one offers to build the hotel
without any contribution, or until some
one is willing to buy the property at its
cost price.
1t will be a good while, probably, before
anybody offers to put up a $250,OOO hotel
in this city without very strong induce
ment in the shape of a donated site or
contributions in money.
1t will be a good while, certainly, before
any individual, company or corporation
will give anywhere near the amount paid
for the barracks property unless de-
termination shall be reached to utilize 1t
for hotel site. 1t wouldn't bring, pro-
badly, much more than half what was paid
for it last year if it were OfeTed at auction.
What do the shareholders propose to do
with it? There are about ninety of them,
and it is hardly reasonable to suppose
that all of them will want to hold on to it
for any great length of time aud pay an
annual assessment for taxes. Some Of
them will want to sell pretty soon if they
see no immedia te prospect Of hotel, and,
Of course, the property will have to he
sold and the proceeds divided, unless
there are those who are willing to buy the
shares at what they cost, or at something
near what they cost.
If the property should be sold and the
proceeds divided, the shareholders, per-
haps, wouldn't get half what they paid
for their shares. The shares cost about
500. Is there any one of the sharehold-
ers who cannot afford to donate $3.50 TO
the building of a grand hotel? Is there
any one OF the shareholders who wouldn't
be benefited to the extent of more than
$3.50 by the building Of grand hotel? If
there isn't, wouldn't it be wise to adopt
the proposition Ol Tic 2nOhNAN0 NEWS
and donate the property to any one who
will build the hotel?
OF course it was understood when the
property was bought that it wasn't to be
a money-making enterprise. The shares
were taken from purely patriotic desire
TO help build up the city, and increase its
prosperity. II will be remembered that
about the time the property was to be sold
a report that the Telfair Hospital people
intended to bid for it caused great deal
Of Indignation, because the hotel project
was looked upon as public enterprise
that ought not to be interfcred with.
In advocating 3 grand winter hotel
there is no purpose To create the impress
sion that this city hasn't good hotels, and
that they are not able to entertain the
city's visitors. Savannah's hotels are as
good as the hotels Of any city in the South,
and they can entertain the travelling pub
lie. The idea of the proposed new hotel is
to draw winter visitors here just as they
are drawn to Jacksonville. TODD that the
city must have a hotel on 2 grander scale
than any n uou~ has