Asheville, Sept.16—Gaunt and black, the steel skeleton of the Fleetwood rising skyward on top of Jump Off Mountain near Hendersonville will resound with the cries of the riveter and the roar of the hoist within 15 days, according to the terms of a contract signed tonight by which the creditors sell to the Florida and Gulf Coast Land Company the hotel and site for a consideration of $1,250,000.
Started by Commodore J. Perry Stoltz, the hotel rose rapidly and was a landmark for the entire section of the country in the vicinity of Hendersonville as its steel fingers pierced higher and higher into the clouds that often hang low around the summit of Jump Off Mountain. Slated to open July 1 of this year, the hotel met first one delay and then another, finally reaching a climax with a $2 million auction by Commodore Stoltz and the Fleetwood Hotel Corporation against Thomas R. Byrd and the Standard Mortgage Company for the alleged failure to make a loan according to terms of a contract purported to have been signed by plaintiffs and defendants.
The sale of the property tonight came as a climax to along series of negotiations in which several concerns were bidding for the property.
According to the terms of the contract all creditors will be paid in full and the work of enclosing the hotel with walls and roof will proceed at once.
From page 7 of the Brevard News, Sept. Saturday, 18, 1926
newspapers.digitalnc.org/lccn/sn92074063/1926-09-16/ed-1/seq-7/
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