The Birmingham age-herald., 1903-11-15
Robert Jemison, Jr., Talks.

Robert Jemison, Jr., president of the Jemison Real Estate and Improvement Co.,, one of the best known young real estate men in the city, says:
 "While the demand for Birmingham real estate has not been so active this fall as it was last spring, there is no evidence of loss of confidence on the part of property owners-in fact prices remain firm, as all seem to be wise enough to realize If they sell Birmingham dirt that it would be 8 difficult matter to find a safer or more profitable investment.
 ''It Is therefore reasonable to believe that the tendency of buyers to wait for decline in prices is due to hte influence of conditions In the north, which so far have had little or no effect in reality upon the south, only effecting the close buyer, who Is looking for excuses to bear the market for his own gain, or the proverbial pessi- mist who is always looking for trouble. These facts have however. failed to shake the confidence of the satisfied property owners of Birmingham, and there is, therefore, little trading at present, as the owner is satisfied to hold and the cautious and close buyer is willing to wait. It may be added here that past history dem- onstrates that holding Birmingham prop erty pays large returns. The present con dition of banks and the thousands of dol lars being spent here indicate that Bir- mingham is beyond the point, Of being ef- fected by a gamblers panic in New York in fact the same may be said of the en- tire south.
 With bountiful crops, 101a-cent cotton and more money than ever before, coupled with the foct that the south has been practically free from the evils of gam bling and watering of stocks, her fortun- ate people should feel confident that continued development of the vast re- sources upon a conservative basis will mean continued prosperity, and the Bir- mingham property owners particularly should feel satisfied as property here to- day is lower than that in many other southern cities with less than half the re- sources and with a future that cannot be compared with this prosperous and grow ing city. For example, residence lots in Montgomery are selling high as sl10 per foot and business property as a rule pays I and per cent, while in Birmingham $50 per foot is above the average price of res idence property and Birmingham business property will easily average 9 per cent These facts are verified by the large num- Der of Montgomery people investing in Birmingham property.
 ''In regard to coal and iron our facili- ties for underselling on account of our natural resources and our close proximity to tide water are too we'll known to make
 
 assuming that We are not blessed with such advantages, does the average busi- ness man think his business is going to the bow-wows because every day, week, month, or year 1t does not pay from 20 to 90 per cent, or has he any right to think the pendulum will swing one way all the time? Neither has the iron manufacturer nor the coal operator a right to expect al- ways the enormous profits they have re- gently enjoyed.
 Its an i'll wind that blows no one good Just as the merchants have been forced to add new lines and up to date methods in order to make money and meet competition, so will the iron pro- ducers have to make the finished product and so will the cotton manufacturers have to print their cloths in order to sat isfy their desires for profit and more profit. These things are coming and com ing fast and great is Birmingham and far greater will be the Birmingham of the future"