The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-11
REALTORS RECALL
-FOUR MORTGAGES
F0RECLOSED HERE
Astonishing Record For Bir-
mingham Incidentally Is
Brought To Liqht

How many mortgages have you
foreclosed?" Hill Ferguson, of Jemi-
son and company, asked John G. Far
ley at the luncheon of the Birming
ham Real Estate board in the Tut
wiler hotel Thursday.
Two, since we have been in busi-
ness. and they We're on the property
of men who left town and would not
keep up their property" Mr.. Farley
answered.
That started 1t. The chairman put
the same question to man after man
who puts up money to help Birming
ham people buy homes. Frank But
Ter, of Butler &; Garrett, has been
handling mortgages for home buyers
here for seventeen years. Il never
foreclosed a mortgage in my life."
he said.
H. X. Miner, son of the man who
invented Birmingham. and who rep
resents the Oldest esta blished and
continuous land selling institution In
Jones Valley, has foreclosed two
mortgages since that day and time
when the Georgia Pacific railroad
put tracks down to bring people hero.
Discusses Second Mortgages.
Mr.. Farley was the invited speaker
of the luncheoA. He is the quiet man
who runs the Realty Mortgage com
pany. under the wing Of the Traders
National bank. He discussed sec
ond mortgages, and doesn't think
much of them. According to the
paper Mr.. Farley read, a second mort
gage has as much standing in COM
mercial paper as the note of German
junker would have in Brussels. Suf-
fee to say, Mr.. Farley doesn't buy
them anv more, that's how much he
thinks of them.
1t was this talk on second mort
cages that drew Mr.. Fergusons
question Before the paper was read
around that he wouldn't answer any
questions Mr.. Ferguson put because
or their celebrated gimlet quality, but
he relented when he saw Mr.. Fergu-
son didn't have his dander UP.
Bill Leedy. the realtor who says
Birmingham instead OF amen
when he finishes his prayers, remark
ed after the meeting that he doubted
if any city in the land could show
similar record; the leading realty
men gathered in conference and four
mortgage foreclosures the total show
ing for a lifetime in business
Montgomery Has Rodeo.
The general benevolence of the
luncheon got on A. c. Montgomery's
nerves. Mr.. Montgomery. a year ago,
was a thoughtful. easy-going. kind
~ man VINO ola HuCn DuSlHess, at
tended to it we'll and had a lot of
sales. Then they made him presi-
dent of the Alabama Realtors assoc
citation and now he bawls folks out
if they don't do right He lit into
the realtors at the luncheon.
Next Monday the state organiza-
ton is to meet in Montgomery and 1t
is up to the state official to see that
Birmingham is we'll represented. Mr..
Montgomery, without provocation,
suggested that If Birmingham
couldn't musted more than a corporal s
guard at the state convention it
might as we'll get out Of it. Mobile,
he said had twenty-four members
and twenty of them are reported al
having booked passage on a sea-
going Louisville and Nashville train:
I'VE formed that Mobile part or
the state organization" Mr.. Mont
gomery said. land now it bids fair
to outnumber the parent body in at
tendance"
Before the president got through,
o. L. Horton, secretary, was writing
down the names of many who VIII
attend, and having gained his point.
Mr.. Montgomery subsidized into his
usual kindly disposition. He had
won, so he should worry.
Resolutions deploring the com
munity's loss in the death of the late
r. 8. Munger were adopted by the
organization.