The Birmingham age-herald., 1914-01-06
Understood Prominent Hotel
Man Is Willing to COM
plete the Structure
WOULD TAKE A LONG
LEASE ON HOSTELRY
Foreclosure Now Appears to Be Only
Means of Clearing Up the
Slate and Making
Fresh Start

After a struggle of many months TO
forestall such proceedings. 1t Is be-
lieved at this time that the Roden
Hotel company. owners of that unfin-
ished hostelry. will cause foreclosure
| by the Roden estate, owners of the
first mortgage. The hotel with its steel
| work completed and standing unfin
ished at Fifth avenue and Eighteenth
| street is owned by less than a score
| of stockholders 1t Is understood.
The financial stringency that came
about last summer and during tho fall.
which affected some interests. left the
hotel high on the beach and since that
time plan after plan has been drafted
for the resumption of work to no avail
The agents for the Roden estate are
very much opposed to foreclosure
and have resisted such a step for somes
time, their reason for such position
being that the estate does not want
tho responsibility and cost of complet-
ing the hotel, but desires the aid and
Co operation of all the other persons
originally interested.
The president of the company. Rob-
ert p. McDavid. has battled through
many weary months In an effort to re-
finance the company and finish the ho-
tel However, he Is believed now 10
be of the opinion that the wisest step
that can be taken is a bankruptcy or
foreclosure of the company. It is said
that Mr.. McDavid is reasonably certain
that such plans will be followed out.
In that way the owners of the In
complete hotel will be enabled to can
| ,x,tth oil ota a
whatever leases may have been entered
intos If the owners raise the neees-
sary money and finish the hotel 1t is
generally understood that they would
be subjected to considerable annoyance
by the contract holders as we'll as
lesses.
Hotel Operators Proposition
An interesting feature of the new
situation that has developed about the
Roden hotel Is the understanding that
a well known hotel operator with In
finite faith in Birmingham, has made
a proposal to complete the Roden ho-
tel at his own expense provided tho
owners would provide the furnishings
and the former would execute n long
term lease on the place, paying a very
good rate of interest. That plan and
one other proposal from hotel man
ayers have been made to the Rodcn
hotel interests. Before any such plans
could be taken up. however attractive.
1t would be necessary for the owners
to go through some legal proceedings
to free the operators of the past acts
involving contracts for not only tho ,
steel construction and the construction
of the building proper but for all the
subcontracts and the lease that Is
generally supposed to have been ex-
ecuted some months ago.
The owners of the hotel are some
what impressed with the proposal OF
n proposed lessee that has applied to
finish the hotel and permit the owners
TO provide the furnishings. That plan Is
being seriously considered and IL is
believed that something OF interest will
develop from 1t at an early day.
Men Interested Are Not Idle
In the meantime the owners of thar
hotel or it's promoters have not been
idle. They have striven. as stated,
against the greatest odds to refinance
the structure and get it under way
again. Thcy are not inclined to relish
the statements made In levity that tho
"Roden Is the best ventilated hotel in
the world"
Friends of tho birmingham men who
started this hotel and are now deeply
interested in finishing the plan are of
the opinion that something will take
place in the next few days of general
Importance so far as the future OF
the Roden hotel is concerned. 1t is
generally accepted as true at this time
that tho hotel will be completed How
ever those in charge of the plans are
not at this time ina position to say
definitely what shape it's affairs will
assume. All of the officers connected
with the hotel are sanguine over the
outlook They attach most of their
cheerfulness to the offer of the hotel
operator already referred to as evil
dence that there is yet opportunity here
for first class hotel in addition to
the Tutwiler and that hotel men of ex-
perience admit that fact to the extent
of being willing to put up a consid-
cradle sum of money to complete the
plans. 1t is entirely probable that as
the owners want some showing. pro-
ceedings will be instituted soon looking
to clarifying of the situation ana