In March last it was sold at public auction by the heirs of the Lafarge estate E. S. Higgins, Esq., who is recorded fourth on the list of wealthy citizens for the sum of $1,000,000. This gentleman determined on erecting the largest hotel in the country, and will doubtless succeed, as when completed the new hotel will contain 630 rooms, 200 more than either the Fifth Avenue, Metropolitan or St. Nicholas Hotel, and 100 more than the celebrated Lindell Hotel at St. Louis, which was burned some three years ago; 200 of the rooms will be parlors en suite. It is to be named the Southern Hotel, and is designed to accommodate 1,200 guests. It will be eight stories in height, surmounted by three gothic towers on the Broadway front. Three elevators, which will perform the trip from the first floor to the attic in thirty seconds, will be in use for the benefit of guests night and day. One item alone - upholstery and furniture - will involve an expenditure of $1,000,000. The articles mentioned having been ordered from Paris and this city.