The Birmingham age-herald., 1924-08-10
PLAN TO ERECT lO-STORY HOME
 FOR BOND FIRM
Work Will Start October I On Bankers Mort
 gage Bond Project

The Bankers Mortgage Bond com pany's new building is yet another mil iion.dollar proposition which will add to Birmingham's growing list of sky Scrapers. Ten stories high, with front soe If 10 feet on Third avenue and 70 ieet on Twenty-first street, exterior or h,,sf hr;ck and a Spanish architectural 8esian. it will aid, distinctly, the ap- oearance of the downtown business sec don.
 ,construction of the building will be- sin October i with the probability that the program will be completed Dy Au, vuat i Besides quarters for the bond comnany. eight stories and 22O offices are provided for in plans of the puiid- ing.
 Cround floor of the building affords +wo Entrances, One of these is situated st the far end of the building on Third svenua while the second. on Twenty firTt atreet, leads through offices or the Bankers Mortgage Bond company Quarters of the Mcconnell ell-White-Terry Real Estate and Insurance company, rental agents for the building, are To- csted to the left, the two offices being senarated by marble and glass par tition.
 Three high-speed elevators enter upon the lobby feeding the various oas I.Oors of the building. The plan or tne uppsr p*. nine floors is flexible offering practi- .sIIv snv arrangement of space neces- S;tafed. Features of the. material to he used in the construction program include marble flooring and walls TOT T6s main lobby and tile for the upper corridors. Steel frame windows will De used throughout.
 The structure is the design of Will 1;.n Teslia Welton, architect. Building will be in the hands of the small man-Brice Construction company.
 The Bankers Mortgage Bond company ia the outgrowth of an organization or 100 young business and protessionai men, who, ten years ago, assemolea tse tne means of systematic savings or sSIU a month, the neucleus of the present corporation with assets over $oOO!OVO' That the company's affairs nave been efficiently administered IS tuiiy at. tested by the fact that during eigns years' average time that the original StockhoIdera' money was invested in the company, dividends aggregating more than 100 per cent were declared and paid.
 With it's enlarged capitalization, the company is rapidly expanding Its field of operations. 1t now has facilities for handling loans on business property in unlimited amounts. as well as resi- dential loans in every section of the Birmingham district, The company mas for sale, first mortgages on local real estate yielding 6, [ and 5 per cent, saferuardc1 by a special service plan Sybich relieves the investor of trouble and detail in connection with the cheek ing of insurance, taxes and interest col lectiOns.
 A bond department has just been organized under the management of Clarence B. Lloyd, well known in civic and investment circles, and this de- partment will be prepared at all times to offer the investing public a line or high class securities, including munich nal and industrial issues, and real es- tate mortgage bonds.
 It will foster especially the com pany's own issues of real estate mort gage bonds, which will be secured by deposit with q trustee of first mort Rages in proportion of $110 of mort gages for each $100 of bonds issued. This department will also deal in the c0mpany's per cent cumulative first preferred stock, which is already on a dividend paying basis.
 Officials of the organization are; J. H. Barker, president; E. B. Erwin, vice president; Frank B. Spain, vice president; R. ID. Johnston, treasurer, and Aubrey Allison. secretary. Directors include: Frank w. Miller, John D. Chichester, A. H. Dabbs, Person Moore, Theodore Swann, Percy W. . Rrower, Andrew 0. Ramsay, B. B. Err win, Frank E. Spain, Robert D. John ston, Ed S. Moore, Dr. Charles M. Nice, A R. Terry, Hal c. Marsh and q, H. Barker.