The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-04-14
ANNUAL MEETING OF
REALTY COMP ANY
President Carse Unable to At
tend in Person
NO CHANGES ARE MADE
Presidents Report Calls Attention to
Northside improvements and to
the Extensive Plans Made
for This Year

The annual meeting of stockholders of
the Birmingham Realty company was
held yesterday at the Birmingham offices
of the company and was without special
feature President Henry +. Carse of
New York was unable to be present be-
cause of his desire to attend the funeral
of James 4. Woodward, a large stock
holder in the company.
Mr.. Carses annual report, however,
outlining the work during the past year
was presented by I. C. Beatty. general
manager The stockholders reelected the
old board of directors, consisting of Will
liam woodward of New York, Henry R.
Carse of New York, John Miner Cald-
we'll of Birmingham, Henry G. Robinson
of Birmingham, Cupepper Exum of Biz
minghamf John London of Birmingham,
1. C. Beatty of Birmingham.
The board of directors also reelected
the old officers as follows: President,
Henry r. Carse of New York; general
manager, I. C. Beatty; secretary and
treasurer. Frank Norris; assistant secre-
tary. ]. Winston Hale; counsel, Jonn
London.
The annual report of President carse
was as follows:
Presidents Report
April 49, 1910.
To the Stockholders of the Birmingham
Realty Co.:
The report of tho operations OF the COM
pany for the fiscal year ending March 81
1910. is submitted herewith:
Preferred stock outstanding ...s nl,1U.w
Common stock outstanding -. l,zss,op.w
rt Issn ,eo, ''0N .s.......... 2S5, 10000
'a ares. Vi pi0ro '............. s05. Bib
Income from rents, interest,"
l Doicneo q0''''' ... 2s,55S. 81
streets stree ,sn and sewers ........... s7.55s.So
Street improvements, repairs
i i,,,r ......... 1854. 81
companv's Dropertv ............ lss,16s. SO
Cash on hand March 81, $780,. l,l6S1
Amount set aside for redemp-
ton of preferred stock $500. 1,2e0.W
After long negotiation and most serious
study and work the company has ar
ranged for the surrender by the Belt Line
of the railway running through the prop
erty on the Northside about Thirty-sec-
ond street, in exchange for new right
of-way which has been decided to that
company, parallel to the Southern rail-
way. thus leaving our entire holdings on
the Northside undivided for proper de-
velopment
1t is proposed during the coming year
to lay out on this property parkway
that will open up the land in the most de-
sirable manner providing some of the
best residential sites within the city lin
its. This improvement will require the
expenditure of considerable sums or
money. so that IT has not been deemed
desirable to increase the regular rate OF
dividend payable upon the common stock.
In addition there is under consideration
the construction of a Viaduct across the
railway tracks al Twenty-eighth street;
also at First avenue, which should be of
considerable benefit to the property OF
the company.
The sales of land during the past year
have been satisfactory to the directors.
The Docto quarry has also been OPP
Grated to advantage. and the net results
have been of benefit. A large amount
has been expended in stripping the stone
so as to open UP an amount equal to that
quarried.
1t is the intention of the company to
proceed in a careful, conservative NAM
ner in the development of it's property
as il is considered that is the best course,
both for the company and for the city Of
Birmingham
Following the plan of reorganization and
the resolutions passed at the meeting Of
the stockholders on December s, 1909. the
directors propose to issue a call for the
balance of the preferred stock outstand-
ing for redemption of date. July 1, 1910.
the intention having been that from the
liquidation of assets the bonds should first
be paid, then the preferred stock and the
the balance, If any, should accrue to the
holders of the common stock Very truly.
HENRY r. CARSE, President.