The Birmingham age-herald., 1905-04-13
OLD OFFICERS REELECTED

Condition of the Company Highly
 Gratifying to the Stockholders.
 Realty Has Developed.
 The Birmingham Realty company stock holders held their annual meeting yester- day. The old officers and directors were reelected and President A. l.. Fulenwlder was warmly congratulated on his report. The bonded indebtedness of the com pany has been greatly reduced and the affairs of the company were found to De in excellent condition.
 Amonk the stockholders present were William Halls, Jr., Gen. E. w. RucKer' c B. Mccormack, Max Blach, W. W. Coghill, John M Caldwell, W. H. kettig' John London, H K. Milner, otto Marx David Roberts, H. G. Robinson J. H. Robinson, Ross c. Smith, Leo K steiner' Louis Schulhoeffer G. M. Wilzin, E. w. Barrett, w. H. Woodward, w. P Ward' E. l.. Brown, w. M. Walker and George H. Stubbs.
 The Directors. The old board re-e.ected were:
 John M. Caldwell, broker; James M. Donald, vice president Hanover National bank, New York Culpepper Exum, pres ident Birmingham Fertilizer company; A. L. Fulenwider, president; William Halis' Jr., vice president Hanover National bank New York; Alexander T. London, attor- ney; David Roberts, retired iron manu- facturer; Henry c. Robinson capitalist; James T. Woodward, president Hanover National bank, New York.
 After the adjournment of the stock holders the directors convened and re- elected these officers A l.. Fulenwlder president William Halls, Jr., vice president
 Frank Norris, secretary and treasurer. E. B. Daffin, assistant secretary and treasurer.
 Alexander T. London, general counsel. This is the fifth election of MT. Full enwider to the presidency. and is a tell ing tribute to his ability as an executive officer
 Presidents Report. President Fulenwiders report follows
 Birmingham, April F, 1905. To the stockholders of the Birmingham Realty Company:
 The board of directors having changed the fiscal year of the company to termi- nate March 3l instead of December 3l. in order that it might conform more nearly to the date of the annual meet ing, l beg to submit the following as my report covering the time from January 1, 1904, to March 31, 1905, period of fifteen months:
 Qondad nahf Originally there was authorized the is- sue of the following securities as of Jan uary 1, 1900:
 Prior liens bonds ......... $550000 Gold mortgage bonds .. .. 5500OO
 $11O0,0O0 Of which there are still in the company's treasury:
 Prior lien per cent bonds. .$50OO0 Gold mortgage per cent
 bonds .......,.......... N,OOO
 71,0OO Making original actual bonded
 debt .. .....................,.,..$ .$l029,O00 OF this amount there has been purchased and cancelled by the Trustee to De- cember 31. 1903:
 Prior lien bonds ..............$3 .$32i000 Gold mortgage bonds ..... 200,50O Since December 3l 1905, prior
 lien bonds =. ................ @,OOo Gold mortgage bonds ...... 41,500 Making total thus retired s667, 900 In view of the fact that we were not able to buy any bonds in the market the Trustee was obliged to call some bends by lot in accordance with the terms of the mortgage; S20000 prior lien and $S000 mortgage bonds being thus lected and called for payment on Jan uary l, 1905, In addition to the above This leaves out standing on March
 31. 1905 .... ................$ .$334, 0O0 With interest charge of .......... 16,7O0 This shows a reduction in bonded
 indebtedness for past fifteen
 months of .. ...................... 16S, 800 And interest charge of ........t. 8,425 Your directors have sold to the Trus- tee, and for the company's uses, the $20,- 900 prior lien bonds which they had on hand December 31, 1903; said bonds having been purchased with surplus funds from time to time as mentioned in previous reports, and while in the companys pos session. having saved th< company the interest thereon at per cent per an- mum.
 The Union Trust company, as Trustee under the mortgage, held on March 31. 1905. for redemption purposes, the following:
 Casn ............$ 4o,sSf. 70 Bills receivable, bearing : 6 per cent interest .... 204,707.T
 Total ,... ...-................ .S24S,090. .O3
 Preferred Stock. The original issue author
 ized .... ............,..... 100000 Of which there was left
 in the companys treas
 ury and has since been