Some place names have different spellings over time. While it is possible to add the alternative place names it is not possible to link the alternative name to a source citation. The person alternative name does give that opportunity. It would be very helpful, I think, to also be able to share/link a source citation to an alternative place name.
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There are no separate source/citation for alternative place names. Any S/C would be attached to the main Place record. As any alternative name is information about the main place record the single S/C location seems appropriate.