The Birmingham age-herald., 1913-04-10
CARSE'S REPORT IS
VERY OPTIMISTIC
Annual Meeting of Birming-
ham Realty Directors
OFFICERS ELECTED
Same Directors and Officers Chosen.
President Declares Past Year Has
Been Best in History of
the Company

| The annual meeting of the Birmingham
Realty company was held yesterday, at
which directors and officers were elected
| for the year No changes were made.
| Tho officers elected were: Henry r. Carse
of New York. president; I. c. Beatty
general manager; Frank Norris, seere-
! tary and treasurer and ]. W. Hale, as
| sistant secretary. The same board of
directors was elected for the current year
and include: Henry r. Carse, Culpepper
Exum, John NJ. Caldwell, l. c. Beatty,
NJ. V. Joseph, John London, Robert A.
Terrell and William Woodward. The
above directors elected the officers. The
stockholders at the meeting included the
above owners OF stock in addition to j.
w. MCQUEEN, j. l.. Yancey, Frank Nell
son, Jr., w. II. Kettig, DR.. Thomas d.
ParlSe and Noah b. Feagin.
The feature of the meeting was the
usually optimistic communication of Pres
ident Carse to the owners of stock In
his note to them Mr.. Carse said the
past year has been the best in the his
tory of the company, indicating that Bir-
mingham was unusually prosperous, That
in Norwood over $5OO,00O had been in
vested in houses by different owners was
a part of tho statement. The investment
was in 100 houses. Mr.. Carse, In his re-
port, referred to the warehouse section
his company is creating ON First ave
nue. between Fourteenth street and Sew
enteenth street in connection with the
Louisville and Nashville management.
The report of Mr.. Carse says that in 10
years his company has financed houses
for purchasers of property from his COM
pany to the amount OF $1,16o,7ss 60. At the
present time the assets of the company
are placed at s.. .O92, III OF. an item of which
estimate real estate is placed at Sl,0IS,604
The full communication of Mr.. Carse
follows:
ITO the stockholders of the Birmingham
Realty Company;
"rhe result of the operations of the
company for the year has been very graf
flying to the management, the sales of
real estate have been above the average,
the collections of rents, interest and
notes have been the best in the history of
the company. and the prospects for the
coming year are excellent.
IN connection with the property leased
from the South and North Alabama Rail
road company on First avenue, the COM
pany has erected during the past year
two large warehouses that are leased for
a term of years to substantial tenants,
and the expectation is to build other
warehouses as tenants for them may be
secured.
at Norwood there have been erected
during the past year by different owners
about 100 houses at a cost OF probably
$500 600, and the prosperity of Birming-
ham has been more evident there than
at any other part of the city. Arrange
ments have been made for the building
and operation of a street car line on the
parkway, and it is expected this line
will be opened to the public during the
early summer, giving residents hrst class
TIRE nsit facilities.
"Since the organization of the company
in 1900, 1t has been the consistent policy
of the board of directors to develop the
property of the company in a substantial
manner so that it might be disposed of
TO the best advantage and at fair prices,
Most of the property of the company
was in undeveloped sections of the city
and if il had been sold in bulk in the
have brought but small sum.
During this period the COM
pany has paid out for
homes for purchasers of
property of the COM
pany ................. VI, ,1b0, 1890
Taxes and licenses ... $3.50. 90
street improvements ...... 49S,569. 90
CITY assessments for street
improvements ...... 2ss, 11.oO
.ot improvements ... 19,5S9.0O
New buildings ........ 302. $1,000
Redemption of bonds ..... LOO, 10000
Redemption Of preferred
stock ......,..,.. 100000 90
While there has been paid
out to the holders of the
preferred and common
stock as dividends and in
liquidation ....-....... 579.S62. 90
"The company now has an amount
Of property ready for the market on
the Northside probably sufficient to
meet the demands for some years but
finds II necessary to develop certain
PARTS of its property on Highland ave-
nue. near the Country club. as practi-
cally all it's lots in that territory have
been disposed of
1T has been and will continue to be
the policy of the directors to distribute
TO the stockholders regular dividends
at the rate of per cent per annum,
which, II is believed can be counted on
as income from rents and interest and
such other liquidation payments from
time to time that 1t may without det-
riment to further developments and on
February II, 1913. the directors or
dered the payment of per cent lidui-
dation dividend, making the total
amount paid on the common stock IN
LIQUIDATION to date lS per cent Fur
ther similar dividends may be looked
for as the liquidation and conservation
Of the company's assets may warrant.