The Birmingham age-herald., 1912-04-11
ANNUAL MEET|NGOF REALTY COMPANY Big Improvement Is Noted
 During 1912 OFFICERS ELECTED I. c. Beatty Made Acting President During Absence of President
 Carse in Europe-Carse's
 Report Encouraging
OFFICERS ELECTED

I I. Groom Beatty was elected acting
 president, the annual report of Henry
 carse, president, disclosed an increase
 in the sales for 1911 of over 100 per cent and the old officers and directors were
 reelected at the annual meeting of the
 Birmingham Realty company. held yes l terday.
 1 President Carse, whose wedding oc-
 cured in New York Tuesday, was not
 present at the meeting, but will be In
 Europe several months on his wedding
 trip. The election of MT. Beatty as act
 ing president was on that account l The officers elected were H. R. .Carse,
 president; I. c. Beatty, acting president and general manager; Frank Norris,
 secretary and treasurer; J. W. Hale, as-
 sistant secretary; John t4ondon. general counsel. The directors named M. V.
 Joseph chairman of executive commit tee. His associates will be John London and William Woodward. The directors elected Mr. Carse. Mir Beatty MT. Joseph, MT. London, MT. Woodward, John M. Caldwell, Culpepper Exum and Henry G. Robinson.
 | The report of the president shows
 that for the fiscal year s3S1.S33. 5s was the amount of sales, as compared to $142,82 38 for the year preceding. The work of Norwood was commented upon, while brief reference was made as to | the recent Louisville and Nashville and Realty company development on lower First avenue, involving over $1,000,000. Annual Report The repor, which was very gratifying l to the directors, follows April 10, 1912. "To the stockholders of the Birmingham i Realty company:
 "I submit herewith the report of the operations of the company for the fiscal year ending March 31, 1912: Preferred stock outstanding not presented for redeinp- tion ................... 4,200 .00 Common stock outstanding. 1,299,600 .00 Preferred stock retired dur
 ing the year. ........... 2.9OO .Oo Sales of property for the
 fiscal year ............. 3S1,SSS 5S Income from rents, inter- 1 est and other sources... S5,S26 67 Taxes and city assessments
 for streets and sewers 75.S27 26 Street improvements. re- pairs and buildings erect ed for rent .......,...... 104, ,460 21 New houses for purchasers of company's property. 127,034. 42 Cash on hand March 31, 1912 54,2S7. 2f Amount set aside for re-
 demp of preferred stock. 4,2OO % Mortgage notes and bills
 receivable ............ 76S.s29 43 Quarterly dividends of l per cent on common stock. 51,9S4. % l lLiquidating dividend of l per cent on common stock 64,9S0 .00
 Big Improvement
 During the greater part of the year ] 1911 business conditions were very
 quiet in the Birmingham district, owing 1 largely to the depression in the iron trade, but during the latter part of 131f and the spring of 1912 there has been a great improvement in general trade and the demand for residential property has been very much quickened, so that the sale of lots has been more satisfac- tory, and the total for the fiscal year amounts to $331 S33 5S, as compared with $142.S24.3S for the preceding 12 months
 "The improvements at 'Norwood, which have been very substantial and comprehensive, have been practically completed and that property Is now ready for the erection Of residences and 1 it is expected that the sales during the coming year will be very large in that portion of the city.
 "The executive and engineering oft cers of the company certainly deserve great credit for the work which they have accomplished there.
 "The Income of the company has not heen as great as for the preceding year. largely owing to the lessened demand from the iron furnaces for dolomite and the smaller rental received from the Dolcito Quarry company. There have also been some readjustments of inter- est in connection with anticipated pay ments of mortgage notes. "The company has recently executed a lease with the South and North Ala bama Railroad company, covering cer- tain land of the railroad adjoining prop erty of the Realty company on First avenue from Seventeenth to Fourteenth streets, and 1t is the intention to erect l thereon warehouses which will have ex- ceptional advantages in the way of rail
 road service. It is expected that this
 will establish permanent wholesale