The Birmingham age-herald., 1911-04-13
ANNUAL MEETING
 REALTY COMPANY Report of President Carse is Very Optimistic-Offi-
 cers Reelected |

The report of Henry Carse, president of the Birmingham Realty company, made yesterday was thoroughly optimistic. He said the present year had a strong outlook for a demand including houses and land.
 At the annual meeting held yesterday in the company offices MT. Carse was re- elected president. l. Groom Beatty, gener- al manager; Frank Norris, secretary and treasurer; J. W. Hale, assistant secre- tary, and John London. counsel. 1 The directors elected were: Henry Carse, l. c. Beatty, John M. Caldwell, Gull pepper Exum, M. V. Joseph, John Lon- don and II. c. Robinson.
 The report of Mir. Carse, which is short, pointed and comprehensive, follows:
 Presidents Report
 April 12, 1911. To the Stockholders of the Birmingham Realty Company:
 The report of the operations of the com- rany for the fiscal year ending March 3l, 1911. is submitted herewith;
 Preferred stock outstanding ...s 7,10oo0 Common stock outstanding ..... 1299, ,600.00 Preferred stock retired during
 the year ........................ 1o4,1oooo odleS or property loI tHe HStdl
 year ........ ......... ......... 142,s24.SS Income from rents, interest, Dol
 cito quarry and other sources 104,9173S Taxes and city assessments for
 streets and sewers .......... 42,sso.so Street improvements. repairs
 and buildings erected for rent
 ing ......... ........... ...... 946i9.M New houses for purchasers of
 company's property ............. s41oo7 73 Amount set aside for redemption
 of preferred stock .............. 7,1oooo Mortgage notes and bills re-
 ceivable ............ ............ s1s,oe4s5 Quarterly dividends of 1 per
 cent on common stock ........ 51,9S40o0 Liuudating dividends of per
 cent on common stock ........ 649S0.0J The year 1910 has been period of liquidation and retrenchment over the en- tire country, especially in relation to real estate and while our sales of property have been lower than in some years the collection of maturing mortgage obliga- tions has been very satisfactory. and the outlook is for strong demand for land and new buildings in the coming year.
 Work at Norwood
 The improvements in "Norwood'' have been steadily progressing and we expect to be able to place this property on the market for sale during the present year. This has been very important piece of work, and 1t has been the aim to have everything done n tne most complete and thoroughs manner, so that as a place of residence "Norwood,' in addition to its natural beauty of location, will have all the advantages of any other section of the city. The officers of the company are very sanguine of success when this prop erty shall be ready to be offered to the public The new track of the Belt rail road has been constructed parallel to the Southern railway about Twenty-seventh street, and trains are now being operated over this fine, and within a few weeks the old tracks along Thirty-third street will be taken up and the railroad cut filled in This very important imi ment on the north side has permitted the satisfactory construction Of the Highland boulevard and Parkway, which, when completed, will be highly appreciated by all residents of Brmngham
 During the past year the stone quarry at Dolcito was leased to the Dolcito Quarry company, and the income from that source now appears in rent account. As the property Of the company is sold the proceeds received in excess of amounts necessary to develop and main tein in accordance with our established policy the land and buildings belonging to the company, it is the intention to de- clare from time to time liquidation divi- dends on the common stock, while main taining regular quarterly dividends of Ter cent from earnings of the company derived from rents and interest.
 On the call issued July l, 1910. for re demption of the preferred stocks as pro vided by resolution adopted at a meeting of stockholders on December s. 19O9 all the shares have been redeemed at par and cancelled with the exception of Il shares, which may come in at any time. The amount necessary to redeem these shares is held in separate fund Yours truly. HENRY R. CARSE.
 President