The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-07-16
FORO's HOTEL IS
IN THE L|MEl|GHT
State Wants it and So Does City,
is Gist of Report Going
Around.
COUNCILMAN FANORS
PURCHASE OF PROPERTY
Realty Operators Are Much Inter
ested in Proposed Sale, See
ing Enhancement of
Nalues.

DEFINITE steps looking to the pur-
chase of old Ford's hotei by the city
will be taken early in the fall.
This Information comes from a
leading member of the common coun-
Gil, -Whn numbers himself among those
that believe that the time is at hand
when something should he done to
relieve the present congested con-
ditions In the City Hall
In fact said this member Of the
municipal body Saturday. Il shall
bring the matter to the attention or
the council just as soon as practicable
after il is reorganized III September.
Eventually. | expect to see the city
erect fine court building on the
site, although for some time the old
building could be used just as II is,
by getting the courts out of the City
Hall the congestion would be re-
neVed to a great extent. That Is
why am personally In favor OF pur-
chasing the property as to make
room Tor the courts when could not
he better located than on the hotel
site situated as ii Is directly across
Tenth street on Broad from the mu-
nicipal building"
Price Is Problenatical.
What price the city would DE will
ing 10 pay for the properly is as Yet
problemauCai, hut II liz believed that
II could be had for less than 100000.
Recently. wneu the hotei was put up
at auction. bids were run up AS high
as $sb.oUo, but those representing
heirs Of the Ford estate called thu
sale on, beneying the bid too low.
At that time, 1t Was stated that the
propery ought to bring a, least $l2o.-
0o0. although these fis AEeS were con
siderabiy in eAeeSs OF those offered.
The fact that the cay viii IN all
probability endeaVor TO get posses
sion OF the property Is Of especial
interest at this time in view OF the
recent report that the state also has
Its eyes on the hotel for additional +
office room purposes. ihe State, how /
ever could do practically nothing in {
the way of buying the property until /!
the next legislature meets nearly two !
years hence and even then would /
likely experience difficulty in getting /
an appropriation. !
Spectators Interested.
Spectators In realty and business
property generally are eVincing more
than an ordinary interest in the pro
posed sale of the hotel. Tor IN the .
event of such contamination they }
know that Il means considerable en- +
hancemant Of property values IN that
vicinity
Building and realty operations dug
ing the week. while nor particularly .
marked, show that the market is cap
able of Its own even In the face of
the fact that the present season is
usually regarded as the ouilest of the ,
year
In the building line several items .
of interest developed. one Of these !
was the announcement that plans are
being prepared for handsome new /
addition to ST. Luke's ospital. me .
addition 10 st Lukes hospital. The (
Grace street immediately west of the .
hospital the property for the build
ing having been acquired several I
years ago. The structure will GORE
spond in appearance to the present
building and Will be used as an an
mex and home for nurses. /
Build New Bank.
Preparations were begun for con-
struction of the new Broad stree (
Bank, which is 10 be handsome and
oommodious structure occupying the (
present site of the bank. Pending its
completion. the bank will occupy the
quarters Of the old Bank of Rtcn-
mond branch on South Broad near /
Third which 1t recently took over.
The building committee of Main /
Street bank met early in the week
ami autI. srt, = is ar 1 a 1" ask I
fer bids ia a. x QUARTS ii WEI erect I
AT Eif', "nfo ma Main Streets Ioun-
dation will be laid for nine-stoSy I
building but for the time being only |
four stories viii be erected. it Is
stated The bank people, however.
have every hope of putting on the |
additional stories In the course of the |
next year or two
Rumors are floating around to the |
effect that the Chesapeake and Ohio |
L.,Si lfyakF no
shops east OF Fulton. 1t Is certain.
however. that nothing will be done In
this line until some time after Presi-
dent Stevens returns from his Euro I
pean trip the early part of August
Shops Boost Realty.
These shop reports have given de-
cided stimulus to suburban property
east OF the city and more than one
realty operator is now turning his I
attention in that direction, although /
hitherto imbued with the idea that |
cities. like empires, must of necessity. I
grow westward. Out-of- town investors
- are likewise being attracted to this
section as evidenced by the fact that
w T. s Bum and his son. w. A.
Bum, both of Peoria. H.. have re-
Gently purchased tract of 100 acres
or so along the National, cemetery
road, which thew will divide into sub
divisions and pu, on the market. Both
Mr.. Bum and his son. who are stop
ping at the jefferson, are Very opu-
mistic regarding the East Richmond
outlook. They make light of the old
theory that cities never grow toward
the rising sun.
The Iliinoisans have also recently
purchased farm OF $50 acres near
Maidens on the James river division
of the Chesapeake and Ohio, which
they propose devoting to dairy and
cattle raising purposes Another farm
they purchased near Hampton was
bought as an investment. IL Is under
Continued on Second PaGe.)