The age-herald., 1899-03-17
STOCKHOLDERS OF
 ENSLEY LAND GO The Annual Meeting Held
 Yesterday PRESIDENT SHOCKS REPORT He Predicted That During the Ensuing Year Enough Property eWoud
 Be Sold to Pay Of All
 Indebtedness.
PRESIDENT SHOCKS REPORT

The annual meeting of the stockholders of the Ensley Land company was held yes terday in the office of the company in Nor ris avenue, and directors and officers for the ensuing year were elected, and other routine business transacted.
 The meeting was called to order by Pres ident Shook, who submitted his annual re- port, in which he carefully reviewed the history of the company and pointed out the bright prospects of the future. by req son of the great industrial progress of the Birmingham district.
 The report of J. R. Vail, secretary and treasurer, showed that the indebtedness of the company under the administration of it's trustees had been reduced to below Sl0O,000.
 The old board of directors was reelected as follows: William A. Walker, N. Baxter, Jr., Walker Percy, A. M. Shook, c. H. Blacklock, John F. Fletcher and J. R. Vail.
 The board immediately reelected the foi- lowing officers:
 Presidential M. Shook.
 ce-president-William A. Walker.
 Secretary and Treasurer-J. R. Vail
 President Shocks report was follows: To the Stockholders of the Ensley Land
 Company:
 Conference.-The Ensley Land company was organized under a charter granted by the state of Alabama in 1890, and it's prop erty originally consisted of 379725 acres of land. The first sale was made in 1S93 and at the end of 1895 the total sales amounted to 5073 acres The total amount realized from sales to that date was g, 25.20. No further sales were made by the company On the z5th of January 1S97 the whole property was sold to satisfy judgment in ID Electric company for ST ,373.9S, which be- longed to the estate of James c. Warner, deceased. In order to prevent the property from being sacrificed for this small debt. and to protect the other creditors and stockholders an agreement was made With all the creditors by which the property was conveyed to James Bowron and N. E. Barker in trust. A copy of the declaration is hereto attached, which shows that the trustees are, first, to sell property enough to pay the debts; secondly to reconvey the remaining property to the stockholders or the Ensley Land company. The reports of the trustees shows that they have sold 409 acres of land for $51 ,773.47, which amount has been applied to the reduction of the debts of the company in accordance With the stipulations in the declaration of trust. This leaves 3 ,337 52 acres unSold at this date. The total indebtedness of the company on this date after deducting the $5l,773.f re- received from the trustees, Is S97 ,S9S.S9.
 On the 11th day of April, 1893, the stock holders of this company by resolution re- duced the capital stock from $10OO0,O00 to $500 ,00O by authority of an act of the legis- lature of the state of Alabama passed on the 10th day of February. 1893. At this date. 61 per cent of the stock has been converted into new certificates on a basis of s50OOOO. leaving still outstanding s3,9O0SOO face value of the old stock that has not been changed.
 Last July the Tennessee Coal, Iron and hn 1nI of a large steel plant at Ensley with esti- mated capacity of 1000 tons per day. This was followed by locating the Alabama Steel and Wire company at Ensley, who are now building a wire, rod and nall mill, with an estimated capacity of GOO tons day. A large brick works and two largo wood working establishments have been To- cated there. Negotiations have been com pleted for plant that will manufacture from furnace slag from 900 to 5000 barrels