Evening journal., 1911-05-18
COUNCIL OPENS
WAY FOR HOTEL
Money Will be Borrowed From
Wilmington Trust Co. and
Bonds Issued
FINAL ACTION TO
BE TAKEN TONIGHT

Members OF City Councll, IN Com-
mittee meeting last night, decided to
furnish the necessary funds for the
widening of Eleventh street, from
Market to Orange street, so that the
new twelve-story Hotel, to be erected
by the dupont interests, at Eleventh
and Market streets, will become a
reality. Nothing now stands in the
way of the project, and the Whining
ton Trust Building Corporation, which
will erect the hostelry, will begin
work as soon as the new
Continental Life Insurance Company's
building, at Eleventh and Market
streets, can be razed. The company
will accept the award made by the
condemnation commission Of S52,250
The members Of Council decided 10
borrow from the Wilmington Trust
Company the money necessary TO
widen Eleventh street, and later is
sue bonds for the amount. This ac-
tion will be reported at the meeting
of Council tonight and receive the
sanction necessary to make it legal.
The Wilmington Trust Building
Corporation will pay 81 900 salvage for
the material in the new Continental
Life Insurance Company's building,
leaving $4,000 for Council to pro-
vide.
When President Of Council Banning
called the Councilmen to order the
room was filled with those interested
in the new hotel project Mr.. Benson,
of the Seventh ward, Immediately
moved that the, resolution submitted
by the Street and Sewer Commission
At the last regular meeting of Coun-
Gil be adopted
Councilman Kane asked that the re-
port of the condemnation commission
be read, but before this was done
President Suarks, of the Street and
Sewer Department, explained that the
directors Of that department, in order
To avoid any possibility of questioning
the legality Of the procedure, decided
10 ask the court for the appointment
Of a commission to condemn the prop
erty along Eleventh street. This
commission, he said. awarded the Con-
tinental Life Insurance Company $52.-
500 and the DUPONT Company six cents
for a strip OF land twenty feet wide
and extending from the insurance
company's building to the east side Of
Orange street.
Mr.. RaskOb EXPLAINS.
The question Of the estimated
assessment on the new hotel was
brought up by Councilman McMullen
and John J Raskob, Of the dupont
Company, through whose efforts the
hotel became a possibility explained
that he was not acquainted with the
method employed in assessing prop
erty, but the company thought that a
fair assessment on their completed
property, including the hotel, would
be about 81 100000
Councilman Kane said he thought
the assessment on the hotel accord.
ing to the plans proposed, would
reach about between 100000 anc
S400 600
After much discussion Mr.. Benson's
motion to adopt the resolution of the
Street and Sewer Department and
guarantee the money to that depart
ment to widen Eleventh street was
adopted without a dissenting vote.
Council met last evening and re-
ceived message from Mayor Spru
ance urging immediate action in the
matter. The letter is:
The Mayors letter follows.
President and Members of Council,
Wilmington, Del.
Gentlemen: I cannot urge upon
you too strongly the immediate and
preparation of sufficient funds and the
payment of the same to the. owners OF
property lately condemned for the
purpose of widening Eleventh street
You are aware Of the reason for the
condemnation Of these properties. and
therefore, can readily understand
how anxious I am to have this matter
settled as quickly as you reasonably
can. The erection of hotel. such as
has been promised to US. will mark a
new era in the development of our
city. It is a most progressive move
and one in which ! have found all OF
the people Of Wilmington. to be thor
oughly in accord in approving.
The money now expended by the
city will be more than repaid in 8
short time by the increased taxes re-
ceived from this property. Other
properties in that neighborhood will
also be enhanced in value, so that the
city can look forward to greatly in.
creased revenue from this section fol-
all times to come. =
Your prompt attention to this mat.
ter will confer a lasting benefit upor
our city.
Yours very respectfully,
]. Harvey Spruance,
. Mayor.