The Birmingham age-herald., 1923-08-01
PROFE ESS|ONAL ME N DEFER ACTION IN N [ W STRUCTURE
Will Introduce Bill Prohibiting Excessive Office
 Space Rent

Blrmlngham professional men are just as far away as ever from a solu-
 tion of their office rent problem, fol-
 lowing a meeting Monday night at
 which only about 20 per cent were
 present, and when three tentative plans were submitted. to be decided
 upon at another meeting to be called in the near future.
 Differences of opinion among the members present Monday night were varied. The gist of the meeting, fol- lowing short discussions of the three plans was that none of them offered any decrease in rent, but on the con- trary, called for a figure identical with what is being charged by the First National bank-$2.00 per square foot
 F. E. Butler, representing local capitalists, proposed to the commit tee the erection of a modern office building of approximately 12 floors, on the site now occupied by the First Christian church, the rentals in which he outlined would be approximately the same as that charged by the First National bank. The building, accord ing to tentative plans, would be for the exclusive use of professional men, Another Plan Presented.
 Charles E. Denhan, president of the Cooperative Service corporation, next presented his plan, which called for a modern structure of 20 stories, and likewise equipped as to be Spe- clally adapted to the use of profess siounal men. The plan as outlined by MT. Denham would be co-opera- tive, that is the building would be erected by capital subscribed by ten- ants, would cost approximately SS61,700 and would contain 13S out side offices and 136 inside offices. The outside offices, he said, would rent for S4700 and the inside ones s25.O0, practically the same, it was stated, as is now being paid. Loca- tion of the proposed building was described as being central and a site that within the next few years would be in the heart of Birmingham's busi- ness district. According to specifi- cations submitted 'by MT. Denham the building in question would be equipped with facilities to care for doctors patients who undergo minor operations and provides for their remaining in the building for period of 24 to 4S hours with all hospital comfort and care.
 Each tenant in the building would be required to take stock in propor- ton to the number of offices required on basis of four shares at $1O0 par value for each outside office and three shares for each inner office. Three temporary options on deslr- able locations are held by the cor pora tion, 1t was stated.
 pr. B. l.. Wyman stated 1t was his Information that the Colonial hotel could be bought for $125,000 and con- verted into a suitable office building. Eighteen years ago, he added, he could have purchased the site for S1S,nO0.
 It was moved and seconded that on account of the small attendance, due to lack of publicity, no action be taken at the the meeting, but that committee of five be appointed to whom these matters will be referred for consideration, the committee to report back to meeting to be called in the near future.
 Reads Proposed Bin.
 On request, Judge Horace Wilkin- son read the gist of bill which Will be introduced at the present session of the legislature which has for US purpose the regulation of office building rents, with a view to pro- hibiting what is termed exorbitant or excessive rental prices, and nam ing rents charged during the year 1922 as being equitable and reason- able. The bill further provides that in case of a raise in rental prices, the landlord be required to show by jury trial that he is not making reasonable profit on his investment. Speedy action on the bill has been requested by the committee with view of having it considered by the present session of the legislature.
 The consensus of opinion among professional men of Birmingham is that the city needs not one, but two or even three office buildings, and that in less than five years not an office in three new buildings would be vacant. In. this connection 1t was pointed out that at recent confer ence between tenants of the First National bank and oscar Wells, pres- ident of the bank, MT. Wells said In substance that he could fill that building immediately should it be vacated at once, that he has a wait | ing list sufficient to fill every office l in the building. Attorneys present | stated it was ther opinon that no re- | lief in rental prices would be pos sible until additional buildings were | erected, and hearty endorsement was given the idea of additional buildings for Birmingham.
 Just which of the three tentatVe propositions submitted look favor able to the professional men is the question to be decided. but practi- cally as a whole they favor the idea of an additional building immedi- ately,t with the majority, 1t would seem. leanng toward the co-opera- i've plan, or tenant owned building The date for q subsequent meeting has not been set