The plans for the new Cambridge Hotel have been considerably altered by the recent petition for the Parkway. If the bill passes, the site on Massachusetts avenue, directly opposite Beck Hall, where the College Inn now stands, will be a very desirable locality for the erection of the hotel; and the Wesselhoeft grounds on Harvard street, where it was proposed to build, will be given up in favor of it. No definite steps will be taken, however, toward building on either site until the petition has been determined. It has been decided to organize a stock company, which shall have sole power over the erection and control of the building. This company will have a capital stock of at least $300,000 and will place a considerable portion of its shares on public sale.