Grayson County TXGenWeb

Hotel Denison

The Corsicans Chamber of Commerce contacted the company that "put over" the building of a new $400,000 hotel built on upon the ruins of the Denison Hotel, which burned in January 1920, in hopes of possibly proposing the same plan in Corsicana. W.N. King, secretary of the Denison Chamber of Commerce, sent a letter detailing how the new Denison hotel was financed and built. After searching in avail for someone "outside" to come in and build a hotel, the Denison Chamber of Commerce fathered a proposition and appropriated $1,000 for the expense of the campaign. A local real estate man willingly took charge of the campaign and if the campaign was successful he received 5% commission with pay his expenses including six months of work. They also employed Eric E. Hall of Chicago to put together preliminary sketches and estimates, agreeing that if the plan did not go forward that he would receive $1,000 guaranteed by the Denison Chamber of Commerce but if the plans did go forward, he would receive 6% for the plans and supervision of the project. A preliminary contract was made subject to the project being approved of a 20 years lease on the building and guaranteed a net return of 7% on the building and the grounds with the stipulation that Mr. Hall was to furnish the hotel complete at his own expense, with furnishings to not cost less than $60,000.
With these business items secured, a site was selected followed by a 6 day intensive campaign with 60 men working to secure subscriptions. The common stock was sold with a guaranteed 7% interest to more than 250 people; with shares costing $100.00 each, subscriptions ranged from $100.00 to $40,000.
The hotel was to have 125 rooms with half of them with their own bath. The building was to be five stories high and the grounds were to cover 100 feet on the side street and 115 feet on the front. Store buildings and shops were provided to net a revenue.
Mr. W.P. Montgomery, a chain hotel man from Toledo, Ohio, agreed to lease the hotel and agreed to move his family to Denison to make their home. (Corsicana Daily Sun, October 27, 1920, pg. 9)