The Birmingham age-herald., 1910-11-22

others have moved their residences. The street is doomed as a residence street. But what if it were not? If MT. Motion and worthy citizens of his type and en- lightenment or inspiration occupied every foot Of our proposed right of way for miles would that be sufficient ground for excluding a development which will do more to maintain the rate of growth of this city than any occurrence since the sale of the Tennessee company at the beginning of the panic The people of this town will have better ground for jubilee festivities the day the silver pick strikes the pavement of Fifth avenue for the construction of this line than when the census of 1910 was announced.
 It Is amazing, and little discouraging, for us to know that after years of untir- ing effort to connect this city with the sea and to be identified as pioneers In the work we should see the whole delayed by the envious, or captious, or ill-advised efforts of certain individuals, consciously or unconsciously active in an interest whose enormuos returns are dependent upon the continuation of its monopoly.
 One other Mares nest. MT. Motion and certain others working along his lines, have made the discovery that the consol- idation of the franchises was granted to corporation with a nominal capital. They do not, In their pronounced opposi- ton to the occupancy of Fifth avenue, contend that the interests of the present investors are not represented by the new company. for they know nothing about the facts and have not sought to obtain the information. The council was, how ever, satisfied on that point I organ zed the company, and with the mini mum capital and with the minimum number of incorporators. Any attorney will be able to state why it Is simpler to proceed in this manner with the in- tial steps of g. financial undertaking of it's magnitude and necessary complexity. I haven't time nor sufficient interest in the pupil to explain to MT. Motion why this is so. It is sufficient to state that, on the twenty-tbird day of February, 1901, a company known as the United States Steel corporation was organized with a paid up capital of fifteen shares of common and fifteen shares of pre- ferred stock. The company which pur- chased Dauphil island for a large sum was organized on similar basis. So, &C., cording to my recollection was the A., B. & A. railroad. I could name a score of smiliar instances. The parties who are to provide the funds are satisfied These preliminary organizations are usually made up from the office force of counsel. In the present instance unusual care was exercised by selecting several Tide water stockholders and binding them with a specific agreement pending their temporary holding of the stock. If the parties engineering this old hue and cry against this great undertaking had been actuated by the same scrupulous regard for the public interest and their duty to their neighbor that has prevailed in the prosecution of this work by J. M Dewberry and his associates, there would be no opposition to the franchise from any quarter-saye one.
 This franchise has been safe-guarded in every reasonable way to protect the interest of Greater Birmingham and a large number of careful and intelligent trustees of the public's rights in the va rious municipalities have framed it as it Is and we want to begin work There Is no valid objection to the granting of the franchise in question nor any that is not hypocritical, and I should prefer to lose the time and such funds as I have invested in the undertaking rather than be responsible to the public for the delay or defeat of this development
 The annexation of territory and the jubilee over an extraordinary census growth is a pharisaical procedure if we are to allow a narrow coterie of lot owners along Fifth avenue to prevent our new citizens from enjoying the ben efits of the greater city while we re- ceiye the unearned increment arising out of their voluntary and involuntary an- nexation. FORNEY JOHNSTON.
 
 
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