In 1917 another theater was operated in Webster City. The Princess Theatre was located at 504 Second Street. This was in the building that was first called the Grand Central Hotel. It was later renamed the St. James Hotel. The Princess was operated and owned by P. H. Treanor & Son and featured vaudeville, concerts, and motion pictures. By 1926 the Princess Theatre had disappeared. This building was razed in the 1980's.

As the building was being demolished one observer who was taking pictures of the building was told by a lady who stopped by that "...The Princess Theater used to be in that building." The observer then told me about it stating that he had never heard of a theater by this name. It was only as I read the newspaper files and the city directories that I found that there actually had been a Princess Theatre in Webster City.