The Birmingham age-herald., 1916-06-23

do much more of this work in the future as is well known to all those familiar with the plans of the Alabama Power company.
 WILLING TO INVEST
 Our company was appealed to, when the Tidewater got into financial diffi- culties, to come to the rescue and put up the money needed for it's successful operation and for further development of the properties. We were ready and willing to do this, but on account of the situation to which I have referred, we decided to turn the proposition down. We also considered purchasing the Bir- mingham Railway, Light and Power company, but later decided against the proposition for the same reason.
 "A number of my friends here have told me that there was something the matter with Birmingham. They say everyone in the city realizes that the city and district are not going forward have hit upon the proper way to solve the problem. It is self-evident fact that Birmingham, with resources and op- portunities probably unrivalled in this country, is not enjoying the prosperity it should. I have been asked by a mum Der of my friends here to state my opin- ion, which being that of an outsider, HllSHL Dc ClcdTeT OH SOIH6 pOlHtS IndH that of man who lived here.
 TOO MUCH SPECULATION
 For one thing, I believe that most of the people in Birmingham in the past have tried to build a city on speculation rather than along conservative lines. The idea seems to have been to buy real es- tate, hold it for big profit and sell out. This has led to the gradual growth of a policy of trying to get something which the other fellow hasa kind of take it away from him proposition. With all due respect to Birmingham. it reminds me of story I once heard on a dead little crossroads town out west All the people hung around the square or the railroad station and no one seemed to be doing anything. A stranger asked one of the natives what the people of the place did for living. we skin the tourists playing poker" said the man who lived there. Well" replied the stranger, there are no tourists here now. What do you do when they are not here?' Well when there are no tour ists, we skin each other" he replied.
 ''To build a great city and a district there must be conservative work and not so much speculation. Birmingham has been exploited in real estate way. Sometimes stranger gets the idea that many people here think the only thing necessary is to speculate in real estate to make the city grow.
 VALUE OF ENCOURAGEMENT
 "A city can afford, and afford well, to lend encouragement to new industries. When company builds one plant at place, the chances are that if they are treated right they will build all their future plants there. This policy is to their advantage and the city gets the benefits from the pay rolls and the de- velopment. It is a well established eco- homie fact that plants of the same kind flock together, Let a city get a few and they enlarge and build other industries there and other companies come to the same place. Take, for example. the textile industry which is centered in certain Massa chusetts cities. Years ago. small textile mills went to these places because there was a small amount of water power available on the streams They grew and enlarged and outgrew the water power. but they rel mained in the same cities. Others fol. lowed and today they are the center of that industry in this country. I might. mention many other examples of the same kind.
 Now do not want to appear to be too critical of Birmingham. for it is a great city with wonderful opportuni- ties but since you have asked me to- state my opinion on these matters, I have done so frankly. I have been made to feel these matters very keenly as I am sure every other man who has been in charge of investments here has done. The monied interests know of these condi- tions and it makes 1t very hard for those who are working for the interests of