Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-23
(P'rom yesterdays $50 Starr
PRESS CLUB TAKES
OVER EBB|TT SITE
Transfer of S2,85O,OOO Deed
EHected-BuiIding Work
Will Begin Soon.

Representatives of the National
Press Club Yesterday received the
deed making the club owner OF the
historic site at Fourteenth and F
streets where now stands the famous
old Ebbitt Hotel and the Hooe Build
ing Transfer of the deed. which was
effected in the directors room OF the
Riggs National Bank, marked the sue
cessful completion of the clubs ven
ture into the realm of high finance.
The transfer of this deed in the
presence OF representatives OF the
Press Club and Stormfeld & Lovely
OF Detroit, the former owners OF the
property, places into the hands of the
Press Club, which represents news
paper men from every part OF the
country, a deed valued at s2,S50,00O
and a site in the National Capital on
which there soon will be built a huge
building which will sta nd as a monu-
ment TO the enterprise Of the Amerl'
can newspa per profession.
The forma lities were concluded late
in the afternoon after a conference
ID sting six hours.
Those at Meeting.
Those who attended the meeting
we're John HAYS Hammond. John Joy
Edison and Edmund Brady, attorney,
representing the National Press Club
Col. Joseph Fairfax and Edward stat
ford, representing the Stormfeld &
Lovely orga MIA ton: Glenn Snlder,
representing Chapma N & Co. of New
York City. the first mortgages, ana
other officials interested in the trans
fer. Henry L. Sweinhart. president of
the Press Club, is in New York City.
Immediately after the deed was
signed and the transfer made Mr..
Sweinhart was informed of the con-
summation of the deal. Mr.. SWeln-
hart then placed the purchase money
on deposit in New York City and
upon proper information the Riggs
Bank issued the check for the prop
erty TO the former owner.
Soon after the first OF the year the
ia miiar landmark at the southeas,
corner Of Fourteenth and + streets
will disappear and in its place there
will be erected a $4,000. 900 building
which will he one of the largest and
most beautiful structures of its KIND
in Washington.
Theater Lease.
The Press Club has made history
in Washinston's realty transac tions,
In connection with the affairs OF the
building the Fox Theater Co. recently
signed a lease for approximately
SIS. O0O. 900 for the theater rights in
the building. This is the largest
lease ever signed on property in
Washington. The building will con
tain a motion picture theater seating
$500 persons, the largest theater in
the city.
In paying an annual lease OF more
than S20n. 900 for the, use of the thea
ter the Fox Theaters Co. is plying
the largest sum paid for any r'"tior
picture theater house in city the
size Of Washington.
Several months ago the Press Clubs
intention and the announcement of its
option on the F street property came
as a complete surprise. At meeting
of the Press Club the idea was enthu
siastically Endorsed. Prominent men
and Government officials approved the
plan. The National Press Club Realty
Holding Corporation was formed to
handle the affairs of the club in con
nection with the building. After the
expression of many doubts and ru
mors in regard to the transaction, the
erection of the new building has now
become almost a reality.
The stores planned for the building
are already spoken for, and enthusi
astic newspaper men representing the
great publications Of the country have
announced their intention of acquiring
Offices in the building. 1t is under
stood that nearly 500 Office rooms have
been spoken for.
gu,UN n