The age-herald., 1901-12-20
INVESTORS REALTY
 COMPANYAT ENSLEY
TO COMBINE HOME CAPITAL FOR THE GOOD OF THE TOWN AND THE STOCKHOLDERS -PRoMI. NEWT PEOPLE IN IT.

tate, to build, etc., and the people ought to understand that 1t is not Building and Loan Association in any sense. While Mir. D. B. Pennington, the president, Is not by profession real estate man, he Is well known as a safe and successful man of business, and is one of the best post ed men on real estate matters in Ensley He has carried through a number of profitable ventures in property within the past two years.
 Ut Is expected that the company, al- though primarily organized to earn a profit to the investors in 1t, will by it's op- erations largely inure to the benefit of the steel city. Most of the capital that has been thus far invested for the develop ment of the city has come from the out side, and this Is about the first attempt to combine home capital for public and private good
 "A feature which deserves special mem tion is the provision by which small in vestors may pay for shares In monthly in- stalments of $5 each share, the par value of shares being s50.' It Is expected that this will prove a popular mode of in- Vestment for the savings of the young men, or for that surplus of their income which is now being largely dissipated. On these instalments int crest will be allowed at per cent, when fully paid, and there will be no forfeiture of instalments in case the monthly payments are not kept up"
 MT. E. B. Pennington, the president chosen for the new company, said yes terday that the promoters were surprised at the readiness with which subscrip- tions for stock had come in at the start, many parties having already subscribed without being solicited. It is considered likely that the capital stock may be in- creased above the present amount of $25,OO0 before actual operations are be- gun on January l. It is proposed to not only invest in property centrally located but to purchase cheap lots on which cot tages will be built, to be rented at reas- enable rates, or sold on easy payments All transactions will be carried on in thoroughly business-like manner, titles will be examined, loans on real estate will be secured by first mortgage, and no purchases or sales will be made except with the written consent of a majority of the board of directors.
 Upon inquiry among parties interested the fact was brought out that the gen. tlemen at the head of the company did not seek official positions, having their hands already full of private business, but accepted reluctantly, and upon par ticular request of the principal subscrib- CTS.
 The general sentiment among the busi- ness men of Ensley, who were interviewed yesterday is that MT. John J. Walker, the vice president, upon whom the man agement will principally depend, Is one Of the shrewdest and most far-sighted real estate men of the city. He has been identified with its interests ever since it's daVa1nnn1nnt o0 off ffxrh 2x. the citizens of every class have entire confidence in his judgment and straight forwardness.
 MT. Walker says that he sees no reason why there should not be 12OO subscribers Tor 1nstalment shares within sixty days. because every young man who earns as much as $50 per month can easily sub scribe for one or more shares and never miss the money.
 The new SecretaryTreasurer Is MT. l.. c. Waldrop, who has ably filled the posi- ton Of General Agent of the Louisville and Nashville Railroad at Ensley for a number of years The business men speak or him as possessing strict business methods and perfect integrity. A promi- nent citizen expressed himself in this manner yesterday. Tt is generally con- ceded that the officers chosen will form the strongest team that could be made up in the city to promote such an en- terprise."
 The Board of Directors will be compos- ca or the three officers mentioned, in ad- oition to J. ". Minor, President of the First National Bank, and N w. Scott Mayor of Ensley. The two later gentle men constitute the Auditing Committee. to examine accounts frequently
 Mayor Scott says he has confidence in the success Of the company, chiefly on account of the character of the men who are to have its management He had not had an opportunity to examine the pros- pectus critically. but" he says. 1T think MT Walker to be one of our very best business men,"
 Methodist Episcopal Church, ,s well known in the city to have very good ideas on business matters He considers ''the managers to be thoroughly qualified. both morally and in a business sense to make successful company. have examined the plan carefully, and believe 1t is A good and safe one. The provision for in- stalment payments appears particularly excellent one, for the young men and the small investors"
 MT. R. F. Berry, cashier of the Bank of Ensley. says: ''The officers are good straight, reliable men,
 MT. D. W. Whips, the real estate man says:
 "I do not see why the company should not do we'll Of one thing I am sure, the men who are in the management will handle the money of the investors all right
 Henderson 6 Donaldson say: ''The men in charge of the company are good"
 Mir c. A. Nolan, President of the En- sley Company says: "The officers and Board of Directors are men of exception al ability in business. I know them all some of them for years, and they are good men,"
 MT. J. W. Minor. President of the First National Bank, believes that the new company will be a good thing for the city and the investors. There is much need for a means of investing small amounts, and the lack of such means hitherto has had the result that people of moderate income have not invested at all. As to the managers Messrs. Pen nington and Walker are thorough busi- ness men and I think they have the con fidence of the community. Anyway, they have mine. MT. Waldrop is a popular, active and reliable young man.
 active and reliable young man. sss
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