Hotel Saranac - Revision history

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	In October, 2013, Arora announced that he would stop taking reservations, pending sale of the property to Roedel Partners of Saranac for $1,850,000. Over the next four years, the Roedel corporation put some $30 million into the property, completely renovating the property and building a two-level parking garage on the site of the former [[Odd Fellows Hall]]. The hotel re-opened on January 18, 2018.		In October, 2013, Arora announced that he would stop taking reservations, pending sale of the property to Roedel Partners of Saranac for $1,850,000. Over the next four years, the Roedel corporation put some $30 million into the property, completely renovating the property and building a two-level parking garage on the site of the former [[Odd Fellows Hall]]. The hotel re-opened on January 18, 2018.

	The Roedel corporation also acquired the former [[Paul Smiths College Residence Hall]] on Church Street and remodeled it to provide larger rooms and suites, as the original hotel had smaller rooms than are the rule today.		The Roedel corporation also acquired the former [[Paul Smith's College Residence Hall\|Paul Smiths College Residence Hall]] on Church Street and remodeled it to provide larger rooms and suites, as the original hotel had smaller rooms than are the rule today.

	Phil's News Stand, [[Phil Perry]], proprietor, was located in the Hotel Saranac Arcade according to an advertisement in the program for the [[St. Bernard's Club\|St. Bernard's Club]]'s [[Minstrel Review]], circa 1930. It sold cigars, cigarettes, confectioneries, newspapers and magazines.		Phil's News Stand, [[Phil Perry]], proprietor, was located in the Hotel Saranac Arcade according to an advertisement in the program for the [[St. Bernard's Club\|St. Bernard's Club]]'s [[Minstrel Review]], circa 1930. It sold cigars, cigarettes, confectioneries, newspapers and magazines.

	[[File:Highway Map of NY.jpg\|right\|thumb\|400px\|Ad for Hotel Saranac on the Highway Map and Guide of New York]]Richard DeMerse was a bellhop after serving in [[World War II]].		[[File:Highway Map of NY.jpg\|right\|thumb\|400px\|Ad for Hotel Saranac on the Highway Map and Guide of New York]][[Richard Demerse\|Richard DeMerse]] was a bellhop after serving in [[World War II]].
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MWanner: Text replacement - "Paul Smiths College" to "Paul Smiths College"

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Text replacement - "Paul Smiths College" to "Paul Smiths College"

← Older revision		Revision as of 11:34, 29 April 2026
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	''2011-01-14 10:33:27'' You may have seen this post, [http://www.fvza.org/phpBB2/viewtopic.php?t=5359&sid=4ed826bd97657a42636490189996613d here], apparently written by a student at Paul Smiths:		''2011-01-14 10:33:27'' You may have seen this post, [http://www.fvza.org/phpBB2/viewtopic.php?t=5359&sid=4ed826bd97657a42636490189996613d here], apparently written by a student at Paul Smiths:

	"Well, I know the history quite well. Her name is [[Lydia Martin Smith\|Lydia Martin Smith]]. She is the wife of [[Apollos Smith\|Apollos Smith]], who in turn is the creator of [[~~Paul Smiths College\|~~Paul Smiths College]]. His wife used to run the Hotel until it burnt down. She also helped to run the old TB clinic that was in the Hotel Saranac. Her grave is said to be somewhere near the dorm that she is said to haunt. And I have seen her at the Hotel Saranac at least once. I have had several guests come up to me and mention someone sitting in the ballroom which was her favorite room. I went to look and no one was there. When I asked the guests to explain what the lady looked like, they said she was her hair pulled tight, and a long dark dress. I would direct them to her portrait and they would tell me the lady looked somewhat like the woman in the portrait. Now out here at the college, she is said to haunt the dorm which bears her name. The dorm, is also shaped like a cross. She is said to walk up and down the halls, as she is discouraged by the fact that men and woman share the same dorm. Her spirit is said to not like that because its not proper. I have heard people tell me that they have seen her. As to their credibility, I don't know. I do know for a fact though, that my campus is haunted, as well as every level in the Hotel. I have felt and seen things there. Some odd things too, that I can't even describe. I can't see most of the spirits, but some I just know are there. I can feel them around me. Since I finished my internship, I haven't felt as many on campus, but there are at least three that I'm positive of, maybe a fourth..."		"Well, I know the history quite well. Her name is [[Lydia Martin Smith\|Lydia Martin Smith]]. She is the wife of [[Apollos Smith\|Apollos Smith]], who in turn is the creator of [[Paul Smiths College]]. His wife used to run the Hotel until it burnt down. She also helped to run the old TB clinic that was in the Hotel Saranac. Her grave is said to be somewhere near the dorm that she is said to haunt. And I have seen her at the Hotel Saranac at least once. I have had several guests come up to me and mention someone sitting in the ballroom which was her favorite room. I went to look and no one was there. When I asked the guests to explain what the lady looked like, they said she was her hair pulled tight, and a long dark dress. I would direct them to her portrait and they would tell me the lady looked somewhat like the woman in the portrait. Now out here at the college, she is said to haunt the dorm which bears her name. The dorm, is also shaped like a cross. She is said to walk up and down the halls, as she is discouraged by the fact that men and woman share the same dorm. Her spirit is said to not like that because its not proper. I have heard people tell me that they have seen her. As to their credibility, I don't know. I do know for a fact though, that my campus is haunted, as well as every level in the Hotel. I have felt and seen things there. Some odd things too, that I can't even describe. I can't see most of the spirits, but some I just know are there. I can feel them around me. Since I finished my internship, I haven't felt as many on campus, but there are at least three that I'm positive of, maybe a fourth..."

	There are a number of points here that are incorrect. Apollos Smith created [[Paul Smith's Hotel]], ''not'' Paul Smith's College, which was created by his son's will. Although Saranac Lake was famous for it's tuberculosis sanatoria, the Hotel Saranac did ''not'' house a TB clinic.		There are a number of points here that are incorrect. Apollos Smith created [[Paul Smith's Hotel]], ''not'' Paul Smith's College, which was created by his son's will. Although Saranac Lake was famous for it's tuberculosis sanatoria, the Hotel Saranac did ''not'' house a TB clinic.

MWanner: Text replacement - "Saranac Inn" to "Saranac Inn"

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Text replacement - "Saranac Inn" to "Saranac Inn"

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	PLANS TO BUILD HOTEL SARANAC		PLANS TO BUILD HOTEL SARANAC

	The exact status of the hotel project for which the Main Street school site is now being sought was revealed in an interview with [[M. B. Marshall\|M. B. Marshall]], former manager of [[~~Saranac Inn\|~~Saranac Inn]] and former owner of the Grand View Hotel in Lake Placid, who discussed the situation yesterday with a representative of The Enterprise.		The exact status of the hotel project for which the Main Street school site is now being sought was revealed in an interview with [[M. B. Marshall\|M. B. Marshall]], former manager of [[Saranac Inn]] and former owner of the Grand View Hotel in Lake Placid, who discussed the situation yesterday with a representative of The Enterprise.

	Mr. Marshall is associated with W. H. Scopes of the the Saranac Lake firm of Scopes & Feustmann, architects, in negotiations [space] the school property and the plans to build a hotel on it.		Mr. Marshall is associated with W. H. Scopes of the the Saranac Lake firm of Scopes & Feustmann, architects, in negotiations [space] the school property and the plans to build a hotel on it.

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	Phil's News Stand, [[Phil Perry\|Phil Perry]], proprietor, was located in the Hotel Saranac Arcade according to an advertisement in the program for the [[St. Bernard's Club\|St. Bernard's Club]]'s [[Minstrel Review\|Minstrel Review]], circa 1930. It sold cigars, cigarettes, confectioneries, newspapers and magazines.		Phil's News Stand, [[Phil Perry\|Phil Perry]], proprietor, was located in the Hotel Saranac Arcade according to an advertisement in the program for the [[St. Bernard's Club\|St. Bernard's Club]]'s [[Minstrel Review\|Minstrel Review]], circa 1930. It sold cigars, cigarettes, confectioneries, newspapers and magazines.

	[[File:Highway Map of NY.jpg\|right\|thumb\|\|Ad for Hotel Saranac on the Highway Map and Guide of New York]]Richard DeMerse was a bellhop after serving in [[~~World War II\|~~World War II]].		[[File:Highway Map of NY.jpg\|right\|thumb\|\|Ad for Hotel Saranac on the Highway Map and Guide of New York]]Richard DeMerse was a bellhop after serving in [[World War II]].
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MWanner: Text replacement - "Paul Smith's Hotel" to "Paul Smith's Hotel"

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Text replacement - "Paul Smith's Hotel" to "Paul Smith's Hotel"

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	"Well, I know the history quite well. Her name is [[Lydia Martin Smith\|Lydia Martin Smith]]. She is the wife of [[Apollos Smith\|Apollos Smith]], who in turn is the creator of [[Paul Smiths College\|Paul Smiths College]]. His wife used to run the Hotel until it burnt down. She also helped to run the old TB clinic that was in the Hotel Saranac. Her grave is said to be somewhere near the dorm that she is said to haunt. And I have seen her at the Hotel Saranac at least once. I have had several guests come up to me and mention someone sitting in the ballroom which was her favorite room. I went to look and no one was there. When I asked the guests to explain what the lady looked like, they said she was her hair pulled tight, and a long dark dress. I would direct them to her portrait and they would tell me the lady looked somewhat like the woman in the portrait. Now out here at the college, she is said to haunt the dorm which bears her name. The dorm, is also shaped like a cross. She is said to walk up and down the halls, as she is discouraged by the fact that men and woman share the same dorm. Her spirit is said to not like that because its not proper. I have heard people tell me that they have seen her. As to their credibility, I don't know. I do know for a fact though, that my campus is haunted, as well as every level in the Hotel. I have felt and seen things there. Some odd things too, that I can't even describe. I can't see most of the spirits, but some I just know are there. I can feel them around me. Since I finished my internship, I haven't felt as many on campus, but there are at least three that I'm positive of, maybe a fourth..."		"Well, I know the history quite well. Her name is [[Lydia Martin Smith\|Lydia Martin Smith]]. She is the wife of [[Apollos Smith\|Apollos Smith]], who in turn is the creator of [[Paul Smiths College\|Paul Smiths College]]. His wife used to run the Hotel until it burnt down. She also helped to run the old TB clinic that was in the Hotel Saranac. Her grave is said to be somewhere near the dorm that she is said to haunt. And I have seen her at the Hotel Saranac at least once. I have had several guests come up to me and mention someone sitting in the ballroom which was her favorite room. I went to look and no one was there. When I asked the guests to explain what the lady looked like, they said she was her hair pulled tight, and a long dark dress. I would direct them to her portrait and they would tell me the lady looked somewhat like the woman in the portrait. Now out here at the college, she is said to haunt the dorm which bears her name. The dorm, is also shaped like a cross. She is said to walk up and down the halls, as she is discouraged by the fact that men and woman share the same dorm. Her spirit is said to not like that because its not proper. I have heard people tell me that they have seen her. As to their credibility, I don't know. I do know for a fact though, that my campus is haunted, as well as every level in the Hotel. I have felt and seen things there. Some odd things too, that I can't even describe. I can't see most of the spirits, but some I just know are there. I can feel them around me. Since I finished my internship, I haven't felt as many on campus, but there are at least three that I'm positive of, maybe a fourth..."

	There are a number of points here that are incorrect. Apollos Smith created [[~~Paul Smith's Hotel\|~~Paul Smith's Hotel]], ''not'' Paul Smith's College, which was created by his son's will. Although Saranac Lake was famous for it's tuberculosis sanatoria, the Hotel Saranac did ''not'' house a TB clinic.		There are a number of points here that are incorrect. Apollos Smith created [[Paul Smith's Hotel]], ''not'' Paul Smith's College, which was created by his son's will. Although Saranac Lake was famous for it's tuberculosis sanatoria, the Hotel Saranac did ''not'' house a TB clinic.

	Lydia Martin Smith died 36 years before the Hotel Saranac was built, and ten miles distant— it would seem unlikely that a spirit would haunt a space to which it had no connection. The site of the Hotel Saranac previously held a high school (that Lydia Martin did not attend) that was moved before the Hotel Saranac was built.		Lydia Martin Smith died 36 years before the Hotel Saranac was built, and ten miles distant— it would seem unlikely that a spirit would haunt a space to which it had no connection. The site of the Hotel Saranac previously held a high school (that Lydia Martin did not attend) that was moved before the Hotel Saranac was built.

MWanner: Text replacement - "Hotel Saranac" to "Hotel Saranac"

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Text replacement - "Hotel Saranac" to "Hotel Saranac"

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	The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.		The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.

	About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[~~Hotel Saranac\|~~Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.		About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.

	In 1961, the Saranac was taken over by the hotel management school of Paul Smith's College. With considerable efforts on the part of [[Paul Smith's College\|Paul Smith's College]], [[John Freer\|John Freer]]'s prediction was fulfilled. In 2006, the college sold the property to a private owner.		In 1961, the Saranac was taken over by the hotel management school of Paul Smith's College. With considerable efforts on the part of [[Paul Smith's College\|Paul Smith's College]], [[John Freer\|John Freer]]'s prediction was fulfilled. In 2006, the college sold the property to a private owner.

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	'''Year built:''' 1927		'''Year built:''' 1927

	'''Architect:''' [[~~Scopes and Feustmann\|~~Scopes and Feustmann]]		'''Architect:''' [[Scopes and Feustmann]]

	'''Other information:'''		'''Other information:'''

	The '''Hotel Saranac''', designed by local architects [[~~Scopes and Feustmann\|~~Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.		The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.

	About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[Hotel Saranac\|Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.		About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[Hotel Saranac\|Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.

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	The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann\|Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.		The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann\|Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.

	About the same time the new [[Harrietstown Town Hall]] was being built, [[~~William H. Scopes\|~~William H. Scopes]] was selling bonds for his (then) latest project — the [[Hotel Saranac\|Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.		About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[Hotel Saranac\|Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.

	In 1961, the Saranac was taken over by the hotel management school of Paul Smith's College. With considerable efforts on the part of [[Paul Smith's College\|Paul Smith's College]], [[John Freer\|John Freer]]'s prediction was fulfilled. In 2006, the college sold the property to a private owner.		In 1961, the Saranac was taken over by the hotel management school of Paul Smith's College. With considerable efforts on the part of [[Paul Smith's College\|Paul Smith's College]], [[John Freer\|John Freer]]'s prediction was fulfilled. In 2006, the college sold the property to a private owner.
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	The hotel was sold to Theodore S. Tenney, of Hackensack, N. J., on his bid of $301,000, plus $10, which was the highest bid offered. Attorney Goorge J. Moore representing Mr. Tenney at the sale, made the bid, which was $10, subject to the mortgages, judgments and mechanics’ liens, and interest, on the same making the Tenney bid actually $361,000, plus $10.		The hotel was sold to Theodore S. Tenney, of Hackensack, N. J., on his bid of $301,000, plus $10, which was the highest bid offered. Attorney Goorge J. Moore representing Mr. Tenney at the sale, made the bid, which was $10, subject to the mortgages, judgments and mechanics’ liens, and interest, on the same making the Tenney bid actually $361,000, plus $10.

	[[~~William H. Scopes\|~~William H. Scopes]], of Saranac Lake, was also a bidder for the hotel property, his bid being five dollars, subject to the mortgages, judgments, mechanics' liens and interest.		[[William H. Scopes]], of Saranac Lake, was also a bidder for the hotel property, his bid being five dollars, subject to the mortgages, judgments, mechanics' liens and interest.

	Receiver Hewitt declared the property sold to Theodore S. Tenney, as the highest bidder.		Receiver Hewitt declared the property sold to Theodore S. Tenney, as the highest bidder.

MWanner: Text replacement - "Main Street" to "Main Street"

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← Older revision		Revision as of 20:43, 11 January 2026
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	[[File:Hotel Saranac postcard.jpg\|right\|thumb\|\|Hotel Saranac postcard, c. 1940. Courtesy of Noreen Oslander<br>[[Alfred W. Santway\|Santway Photo-Craft Co]]., Watertown]]<br>[[File:Hotel Saranac - 2009.jpg\|left\|thumb\|\|Hotel Saranac, 2009 ]]		[[File:Hotel Saranac postcard.jpg\|right\|thumb\|\|Hotel Saranac postcard, c. 1940. Courtesy of Noreen Oslander<br>[[Alfred W. Santway\|Santway Photo-Craft Co]]., Watertown]]<br>[[File:Hotel Saranac - 2009.jpg\|left\|thumb\|\|Hotel Saranac, 2009 ]]

	'''Address:''' 100 [[~~Main Street\|~~Main Street]]		'''Address:''' 100 [[Main Street]]

	'''Old Address:''' 95 - 101 Main Street		'''Old Address:''' 95 - 101 Main Street

← Older revision		Revision as of 15:04, 14 January 2026
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	The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.		The '''Hotel Saranac''', designed by local architects [[Scopes and Feustmann]], is listed as an Historic Hotel of America by the [[Wikipedia:National_Trust_for_Historic_Preservation\|National Trust for Historic Preservation]]. It is the only hotel building remaining of thirteen [[Lost Buildings in the Saranac Lake Central School District\|hotels]] that once served this community.

	About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[~~Hotel Saranac\|~~Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.		About the same time the new [[Harrietstown Town Hall]] was being built, [[William H. Scopes]] was selling bonds for his (then) latest project — the [[Hotel Saranac]]. Hundreds of thousands of dollars worth of these bonds were bought by virtually every business person in the community as well as many other individuals. When merchant [[Irving Altman\|Irving Altman]] bought one for $500, then [[Adirondack National Bank\|Adirondack National Bank]] president [[John Freer\|John Freer]] told him, "This is the best investment going." Some time later, Altman ran into Scopes on the street and asked, "Well, Bill, how's it going?" The architect put his hand over his head as though holding a rope, grimaced, and replied, "I'll have a noose around my neck till the day I die." With six hotels and numerous rooming-houses already operating in the village, there was really no market for the 100 rooms at the Saranac, no matter how modern they may have been. The hotel was a financial flop from the beginning, and it deeply embarrassed and nearly ruined its promoter.

	In 1961, the Saranac was taken over by the hotel management school of Paul Smith's College. With considerable efforts on the part of [[Paul Smith's College\|Paul Smith's College]], [[John Freer\|John Freer]]'s prediction was fulfilled. In 2006, the college sold the property to a private owner.		In 1961, the Saranac was taken over by the hotel management school of Paul Smith's College. With considerable efforts on the part of [[Paul Smith's College\|Paul Smith's College]], [[John Freer\|John Freer]]'s prediction was fulfilled. In 2006, the college sold the property to a private owner.