Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-03-20
MARCHIONESS
SELLS To
Imam
HUGH 7. INMANIs NOW THE SOLE
OWNER OF THE LAND UPON
WHICH THE KIM5ALL
HOUSE STANDS. I

. One of the most interesting recent trans
actions in reality is the transfer OF one OF
the lots upon which the II. l. klmDaAl
house stands from Minnas Marchioness OF
Anglesey to Mr.. Hugh T. Inman for w.
900, the sale having been brought ABOUT
through the firm of G. W. Adair.
The lot fronts q feet on Wall street,
having a depth of los feet, and situated
Just about the location of the office of the
Atlanta Banking and Savings company.
Behind the bald announcement of this
sale is a very curious and interesting sto-
~. Very few people outside of those di-
rectly concerned know the exact status
Of the Kimball house ownership, although
curiosity is often expressed on the sub
ject
After the first house was burned consid-
cradle difficulty was experienced in ac-
curing the necessary real estate for a site
for the present building. With the excep-
ton of two lots, each 27x105 feet in the
southwest corner, the square on which the
building now stands belonged TO H. I.
Kimball. John Rice and Joseph Thompson.
Sr. The two lots were the property OF
the late Richard Peters and the estate OF
John p. King. OF Augusta, Ga
After lengthy negotiations, the land be-
longing to Kimballs Rice and Thompson
was finally leased to the H. I. Kimball
House company for a term Of ninety-nine
years, at a rental Of $500 per month. Mean
while certain transactions had divided the
ownership into shares representing eigh-
teenths, and as a matter Of convenience.
eighteen separate leases were drawn UP.
each being for $50 per month.
The Peters and King lots were also leas-
ed for the same term at a monthly rental
Of 500 each, running the total ground rent
up to the neat sum of 81. 100 per month
The eighteen leases, which are better
than government bonds, are at present
oxrv1ad foIIouvs. 0f ID Grant
y; estate of T. ]. Glenn. 2; Joseph
Thompson, 2, and H. 7. Inman, 2.
The Peters Land company. a corpora
ton owned and controlled by the Peters
family, now own the Peters lot, and the
King lot has descended by inheritance to
a granddaughter, Lady Anglesey. who
now resides in Bologna, Italy.
A great many people remember the diff
ficulty experienced in raising the money
necessary to erect the present hotel build
Ing, IL being built by what was practical
ly popular subscription. Both bonds and
stocks were issued by what was known
as the Kimball House company, and scat
tered all over the country.
Almost every firm furnishing material
took at least half its pay in stock, and
for years it would have taken an expert
accountant to trace the innumerable
transfers Of this paper. Gradually, how
ever, Mr.. Hugh 7. Inman began TO collect
the stock and bonds. and at present he
owns the entire issue except possibly
few small holdings that have for one
reason or another never been offered for
sale. At any rate, he is to all intents
and purposes the sole owner OF the mag
nificent structure.
The late Captain W. D. Grant had in the
meantime accumulated his large holdings
in the ground by quietly buying each lease
interest as IL was offered, his last pur-
chase being made about five years ago
from Judge John L. Hopkins. 49,
Thus II seems that the hotel property.
including ground and building, passed
gradually chiefly into the possession OF
Captain Grant and Mr.. Inman.
BY virtue of an alliance between these
two wealthy families, there Is a POSSIBILITY
that this magnificent estate once so widely
scattered among hundreds of owners MAJ
finally gravitate into the hands of one
individual.
Some years ago the daughter of Mr..
Inman was married to Lar. John w. Grant.
the son of Captain Grant, and under GER
tain conditions provided in the viii of
Captain Grant his holdings may descend
to John w. Grants children and in the
logic of events they seem destined to be-
come the sole proprietors Of the Kimball:
certainly a singular turn of destiny that
should bring about a consolidation of in
terests originally so diverse and diffused.