The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-04-11
That Advance in Price
Is Equity All Round

Equity is an important element of bus
mess. Nc business transaction is profit
able to It's fullest extent, no business pol
icy is sound and permanent which does
not take into consideration the equities
of all parties interested in 1t, or who may
become involved in it.
In reaching the decision to advance
the prices of our property in and around
Norwood on the first of May, this COM
pany gave due consideration TO the equity
side of the proposition and found that the
business of it to the city of Birmingham,
to property owners at large and to owners
of property in Norwood, as well as those
who may become owners hereafter-to
say nothing of our own rights in the
premises-greatly outweighed any other
consideration opposed to it.
We knew the sweeping effect of the
decison-that it would raise the price of
every foot of residence property in the
city-and we gave it mature delibera-
ton.
BELOW REAL VALUE
For years the price of residence prop
erty in the city of Birmingham has been
very low, out of all proportion for those
which obtain for business property of any
kind, and considerably below the prices
which residence property brings in At
lanta and Memphis or even Mobile and
Montgomery. We have never thought that
this disparity in prices was helpful to
the development of Birmingham on the
home side. 1T is not easily explained, and
strangers might be excused for thinking
that 1t could be accounted for to some
extent by the undesirability of Birming-
ham residence property as a whole and
by conditions which affect home life in
Birmingham unfavorably. This, of course
would be a gross misrepresentation, the
reverse being the truth. This advance will
tend toward the removal of that very mis-
apprehension, and 1t is therefore a mat
ter of equity, of business, to the city and
all owners of residence property within
the incorporated limits.
A MATTER OF KEEPING FAITH.
OF all the equities which we took into
consideration, however, that of the people
of Norwood was most potent in shaping
our decision WE WANTED TO KEEP
FAITH WITH THEM.
Norwood has never been and never will
be a speculative proposition. The thor
oughness with which this company made
all improvements possible to be made be-
fore placing Norwood upon the market
and the comparatively low prices set upon
the lots clearly indicated that the pur-
pose Oh llllS COMPANY was " Citdlt d
permanent residence district of the first
class. The area so improved was not large
Just what We believed would be taken
up in three or four years by the very
desirable class of people for whom 1t was
intended. 1t was the intention of the COM
pany, after all these lots were sold, not
to open any more property near Nor
wood for some time to come. 1t was our
desire that owners of lots in Norwood
should reap the full measure of benefits
which were to follow the development
of the property and the strong demand
thereby created for it. We foresaw, of
course, that this plan would work in the
interest of the company also, and that
when the time came for making addi-
lions to Norwood we would be able to
sell the new lots on the basis of the en-
HANGED values in Norwood.
EVENTS TAKE THE REINS.
Events were destined, however, to
snatch the reins from our hands. so to
speak, and make it impossible for us to
adhere strictly to our original purpose.
In the first place, the growth of Nor
wood itself exceeded our most sanguine
expectations Within eighteen months af-