The Birmingham age-herald., 1905-02-24
$6OO,OOO HOTEL
 FOR BIRMINGHAM Local Capitalists Purchase Mo- ran Corner for S90,000 ONCE SOLD FOR $500 w. H. Woodward and Associates Will Erect Handsome History Steel
 Frame Structure-Will Be
 Named "The Jefferson"

One of the hsndsomest hotel properties to be seen south of the Potomac and Ohio rivers, costing be ween $6OO,OyO and s75o, 0OO rising to the height of twelve stories and representing what is most beautiful in architectural design and what Is most secure in constr =tion, will be built on the northwest corner of wentieth street and Fourth avenue. The ground on which t.e impressive steel structure will be erected was pur- chased yesterday afternoon from the heirs of the late Barney 14oran-Mrs. Kate RittenberrY. the wife O. pr. Bax- ter Rittenberry. James A. Moran, her brother, and two minor children, Mary Bell and Bernard P. for -.om Mrs, Rit- tenberry acts as administratrix.
 The lot Is 40 by 100 feet The purchase was made by Brown Brothers &. Co.,, the real estate dealers, who negotiated the deal In behalf of ". II. Woodward and fifteen otha Blrmng- ham capitalists.
 The purchase price was S90,000.
 The deed was made over to William T. Willingham.
 Thirty years ago the property was bought by the father of the Moran heirs, lne late Barney Moran, for $500. Remarkable Fact.
 A more remarkable illustration of the startling increase in the value of B.rming- the history of the city.
 The assessed valuation of the property was $10,000.
 Eugene l.. Brown, representing the firm of Brown Bros. & Co., had this to say yesterday regarding the purchase:
 "The sale of the property known as the Moran corner situated on the north west corner of Twentieth street and Fourth avenue. has just been consum- mated through the firm of Brown Bros. & Go.
 "The purchasers of this property, while their names are withheld, are sall to be several of Birminghams capitalists and business men.
 Tt Is hoped that this sale wih mean the erection of handsome fireproof hotel However, any statements along this line will be merely surmises For reasons l Cp+ is not inclined to discuss this phase of the matter at this time'
 In spite of this diplomatic statement of MT. Browns. it is well understood that the hotel proposition Is already little less than a realty. The project has enlisted the support of Brmingham's financial circles, led as they are in this case by w. H. Woodward, who owns the building that bears 1lis name, and who is heavy stock holder in the handsome First Ma tional Bank building.
 Assuring Fact.
 The mere fact that MT. Woodward is backing the enterprise is. the public be- lieves, sufficient assurance that 1t VII be pressed forward to successful and speedy accomplishment
 It is estimated that the lot and fire proof building that is to be erected will represent an expenditure of between $600. GOO and $750,000.
 The new hotel is to be named "The Jefferson," in honor primarily of Jeffer- sen county and, secondarily, in honor of the third president of the United States.
 Rough sketches of the plans have al- ready been made by an architect and the plans and specifications for the de- signed structure will, il is reported, be promptly worked out.
 Will Break Ground Soon.
 Ground will be broken at the earliest possible moment, ana the work of con- struction will be carried forward with all possible speed
 1t was rumored yesterday that a gen. tleman who is now the highly successful proprietor of one of Birmingham's best hotels will take charge of The Jefferson when 1t is completed