Birmingham state herald., 1897-01-24
A Tone of General HopefuIness
 and Confidence Prevalent.
REAL ESTATE IS BAROMETER
A Minor Note Here and There Because of Tenn porary Conditions-Sprng Build
 ing Boom.

HdS puDHSned numDer or items regard ing local improvements that, taken all together, are very encouraging. An East Birmingham manufactory is making an important addition, the Avondale indus tries are enlarging and a number of inn portant real estate sales have been made. Real estate is a true barometer that in- dicateS the rise or fall of general values, and the increase or decrease in nearly every line of business. Several of our leading business men have recently pur- chased residences, or lots upon which to build homes for themselves. This is an indication that business has been pros- porous, for a man cannot take money out of his business to build home unless his business is in good condition. For a long time our business men had to con- tent themselves with living in rented houses, but now they are becoming able to build homes.
 Yesterday in his rounds, a State Her aid reporter casually asked leading bus mess men what they thought about the prospect for the new year. Maj. Charles Wheelock, the architect, was hurrying along the street, but stopped long enough to say that the outlook was much better this year than at the beginning of last year. He has had a number of appli- cations for plans and specifications, and last week let a $5, 400 contract for an East Birmingham manufaetory.
 MT. Harry Hawkins, the lumber dealer, said he had been in business in Birming- ham for several years, but at no time in the past had he been kept so busy mak- ing estimates.
 The two gentlemen mentioned are in- directly affected by real estate activity, but it is the real estate agents who are directly affected and who keep their fingers on the pulSe-beats of the real estate market and their ears to it's heart throbs. The reporter extended his 1n- quiries and asked those who sell real estate what is the condition of the mar ket. How are inquiries for real estate as compared to the recent past? What prices have been realized? What num- Der of sales? How about the relative de- mand and supply for residence property? Are there any desirable houses for rent? What is the prospect for the spirng build ing? Do you think more houses neces- sity?
 MT. D. V. Gregory said: No well located houses are vacant and the demand is good. Prospect for spring building is good--T know of several that will be built; the plans have already been drawn.
 What are your views?" was asked of MT. S. E. Thompson.
 The condition of the market just at present Is rather quiet, but the prospect is for considerable activity this spring.
 
 I have sold. I have sold $15,000 worth in the past six weeks. Very few resi- dences are for rent. There Is a demand for residence property. One residence lot has sold this year for $50 front foot
 What is the condition of the real es- tate market?" was asked of MT. J. K. Mcdonald, president of the Elyton com pany.
 Judging only by the business done by the Elyton company, l should say 1t is ,r.4r nrrr tn1 ctFa November 10 1896, to date, as compared with the period from May to November 10, 1896 show a result of a little more than 20 to in favor of the last two and half months. The company owns about 160 cottages and tenement houses. Out of this number six are now unoccupied, and they are undesirably located. We have daily applications from persons seeking houses to rent, and I learn from real estate agents that they have con- stant demand for residences that cannot be supplied. The population of the city is constantly increasing, and the supply of residences being already exhausted, there is a healthy and growing demand for building lots. This demand is most ly from business men who are preparing to build homes. This is in my opinion a very good indication of improved busi- ness conditions. I think there is no doubt that great number of handsome residences will be built within the next few months. This, of course. will give employment to more men, and will have the effect of stimulating and improving business in all lines.
 You think, then, that the turning point has been reached and that the city is on the point of taking a new start to- wards substantial growth and improve ment?"
 Undoubtedly so. In fact, it is more ac- curately stated to say 1t has already talk en very decided start in that direction. New industries are being located here constantly. Necessarily each new enter prise set on foot means employment for more men, and increased business for merchants and other business people, be- sides an increased demand for homes
 "Mr. Mcdonald, the Elyton Land con- pany has in the past been recognized as @ leading factor in the growth of the city; and still is in a position, perhaps, to do more in that direction than any other local corporation. This being true, the people are naturally interested to know what policy your company pro- poses to pursue for the future. Would you object to outlining that policy for publication?"
 By no means. We realize the fact that the future of the company depends large ly upon the growth and development of the city and the mineral district, and that anything calculated to benefit Birming- ham will ultimately benefit our inter- ests. We are therefore, ready and will ing to lend our assistance to any req sonable extent to any enterprise which, after careful investigation, we are con- vinced will add to the population and stimulate healthy growth of the busi- ness interests Of the city. Our com pany is, of course, more directly inter- ested in real estate, and we are, there fore, naturally inclined to lend our as- sistance in all plans having for their ob- ject the growth of the city; because the growth of Birmingham in a healthy way means an increased demand for the com pany's property, and consequently in- erased values for the same. We believe the time has come for active work. At the same time we are convinced that, owning, as the company does, very large proportion of the real estate that will be brought into demand by the de- velopment now taking place, we can not reasonably hope to reap all the bene- fits to be derived from increasing values. Tn other words, we realize the fact that results to our company must be second ary, and will not fix arbitrary values upon our property. On the contrary. we intend to meet the growing demand for ttx--