The current hotel was founded by Henry Willard, a former Chief Steward on The Steamer "Niagara" on the Hudson River, personally suggested by “Ogle” Tayloe’s second wife, Miss Phoebe Warren, formerly of Troy, New York, in 1847; when he leased the six buildings, combined them into a single structure, and enlarged it into a four-story hotel he renamed Willard's Hotel.[2][8][9] Willard purchased the hotel property from Ogle Tayloe in 1864, but a dispute over the purchase price and the form of payment (paper currency or gold coin) led to a major equity lawsuit that ended up in the Supreme Court of the United States. The Supreme Court split the difference in Willard v. Tayloe. 75 U.S. 557 (1869): The purchase price would remain the same, but Willard must pay in gold coin (which had not depreciated in value the way paper currency had).