The Birmingham age-herald., 1912-05-02
Building Either 14 or 16 Stories High for Twenty
 First Street FINANCIAL PLANS
 NOW COMPLETED Purchase Price of Site Was $21O,O00. Building Itself Will Repre-
 sent an Investment of
 s55O,0O0
 


 s9ill be known as the Jefferson County Savings bank building. It will unques- tionably be erected It will be either 14 or 16 stories high not counting the basement. The financial part of the l proposition has been underwritten agreeably to the promoters Henry Ives Cobb, one of the most famous of Amer | ican architects, will design 1t and the Whitney Construction company will do he building.
 So much was indicated yesterday by a statement of E. F. Enslen of the Jeff fsrson County bank and w. N. Ma ilne, when asked concerning the new skyscraper. It was announced that MT, Malone had purchased from J. B. Ad- ans 40 feet by 100 feet on Twenty first street at the corner of Second al- | ley to become a part of the skyscraper block, paying for 1t $60,o0O. The build- l ing will take in an addition of To feet on Second avenue by 100 feet, running north. giving the owners frontage of 75 feet on Second avenue running northward 40 feet. The price | to be paid for the additional land will run the total purchase price of the | lot to s210,000, which is to be a part of the slxyscraper investment.
 An option on the T5 feet fronting Second avenue is held by local men interested in the project executed by the owner, Mrs. Bragg. of Montgom- cry, and will be exercised, 1t Is said' before Saturday of this week
 Both MT. Enslen and MT. Malone saio last night that there was not any ques- ton but what the proposition would pc closed in the next day or two and cer- tainly no later than. the coming Sat urday. It is stated that w. H. Seeiy of New York, who offered to assist Tn the erection of the Underwood hotel on the same site, has subscribed heav- ltly to the new building. It is stated that s55O 900 will be put into the build ine, and that it will be started im- nediateiy after the negotiations now under way have been concluded.
 MT. Enslen's Statement
 "If the skyscraper on Second and Twenty first is erected I am sure the Jefferson County Savings bank will be ouartered in that building said MT Enslen last night. Tt will be known as he Jefferson County Savings bank l., ildins while our present building will be used for its present purpose uninter- r. ,ntedly. The financial part of the sl< vscraper at this locality has been anderwritten successfully and only the smallest details are yet to be arranseu' I believe that almost any day now the matter will be finally closed up. Ihe building will be on lot 70 feet on oec- ond avenue by 40 feet on Twenty-hrst street. taking in the Wilson building
 nd inc old Commercial club building row occupied. I believe, by hotel
 In reference to his purchase Of the Adams lot, MT. Malone said yesterday : s.I have bought the 40 feet on twenty first street and Second alley from j. b. Adams for ssoO0o, to be part of the new srvscrsper office building. The additional nronertv which we have optioncd and ,vbiob will become part of the building cite will run the total cost up to S2l0,VOo. The building will cost $550,000 when com nlated If will be modern to the last de- gree and will be one of the most attrac- i've buildings in the entire city.
 .I believe that as MT. Seeiy IS out or the city for a day that the final detaiis will not be clOSeu uP bciptS However. there is not the slightest ooup' but that the building will now be erected' The financial part of the proposition mas heen handled to the utmost satisfaction of all concerned, according to all indica- tions."
 Abandoned Hotel Project
 MT. Seely, who is assisting In the financing of the building came here when Birmingham was discussing new hotel and offered to erect one. The Underwood hotel was announced on Second avenue. However. the Rodcn hotel and the Tut wiler hotel were also announced and after mature thought the Underwood hotel project was abandoned Later Henry Ives Cobb. the architect, came here with Mir Seely and the office building idea was the result It is stated that the interests represented by MT. Seely will assist great ly in handling the new skyscraper
 In addition to the Jefferson County Say
 ngs bank officials MT. Malone. MT. Seeiy and Mir Cobb, several other well known citizens are interested in the new ven- ture. The list includes J. l.. Yancey Drennen company. the Meyer Marx com paay, c. A Locke, Capt A. G. Smith, Lee (. Bradley, and others.
 It is stated that if the entire list of de- tails connected with the proposition is handled by Saturday that work of demol-