The Birmingham age-herald. [volume], January 13, 1922, Page FOUR, Image 4

About The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950

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I
RATE PARITY TO
PORTS OF SBUTHi
Agree Among Selves on Same
Rates From Chicago as
Base and Will Ask
Indorsement
According to advices from high of
ficials of southern trunk lines, the
carriers are endeavoring of their own
motion and by their own agreements
to maintain the parity of rates from
the middle west to gulf and south At
lantic ports.
This parity has been menaced by
declaration of reduced rates on ex
ports from the middle west to north
ern Atlantic ports. The Birmingham
Traffic Bureau took up the matter
with heads of southern lines asking
their good offices in seeing that any
reduced rates to northern Atlantic
ports also become applicable to south
ern ports.
Letter received from A. R. Smith,
vice president of the Iyouisville and
Nashville, is to the effect that thr
carriers have been busy among them
selves and have effected an agree
ment, Indorsed by the interstate com
merce commission, which will make
rates from Chicago to northern At
lantic and southern ports the same
with somewhat lower rates to eastern
ports from distances less than Chi
cago and proportionate lower'rates
to the south where distances are pro
portionately less.
Public hearings have yet to be held
before this plan of the carriers can
receive indorsement of the interstate
commerce commission.
Mr. Smith explains the status in
comprehensive letter, in w]*Ach
pmong other statements, he makes
these;
• What we have to do is to com
BISHOP-RESIGNS
Will Become Secretary-Manager1
Alabama Farm Bureau Federation
Auburn. January 12.— (Special.)—
Hoy O. Bishop, who has for the last
year been specialist in farm organiza
tion work for the Alabama extension
service, has tendered his resignation
to Director L. N. Duncan, effective
January 16. Simultaneous announce
ment is made by the Alabama Farm
Bureau federation that Mr. Bishop
will become secretary-manager of
this organization, which has head
quarters at Montgomery.
Along with the announcement that
Mr. Bishop will become secretary- ■
manager of the Alabama Farm Hu- ^
renu federation is a statement that
among the very first work of this
organization to be taken up in a
state-wide manner will be the estab
lishment of a cotton marketing asso
ciation, a hay marketing association,
and similar work on other products
as soon as conditions will justify. Mr.
Bishop will be located in Montgomery.
promise all around and what the
southern lines have finally obtained
is in my judgment a victory for the
southern lines, provided we can make
the agreement stand following the
public hearings which have yet to be
held. In other words, this compro
mise is so far a matter between the
railroads. n
'‘What is contemplated is the appli
cation from Chicago to New Orleans,
Savannah, etc., of the prevailing
rates to New York, and the resultant
figures will be the maximum from all
intermediate points on and west ot
the Chica*go-Indianapolis-Clncinnat!
line, although from an Important sec
tion of this territory the correspond
ing rates to New York will be higher
than to southern ports. . \
“From points in Ohio, Michigan and
Indiana east of the Chicago-Cincin
nati-bndianapollfl lines, the rates to
the southern ports will be the same
is prevailing to New York, but not
iess than from Cincinnati. Stated in
mother way, and rather roughly:
from some points In Michigan and
from Indiana and Ohio points east of
this line, the rates will be 87 per
cent of the Chicago rates; from the
balance of Michigan, they will be tin
same as to New York.”
Charier No. 3185
Kcserve District no. t>
REPORT OF CONDITION OF THE
FIRST NATIONAL BANK
At Birmingham in the State of Alabama, at the Close of
Business on December 31st, 1921.
RESOURCES
1 a Loans and discount,, including rediscounts (ex
cept. those shown in b and c).$19,448,459.42
Total loans ......$19,448,469^42
$19,44^8,459 42
2. Overdrafts, unsecured . 1,98#.09
4. U. S. Government securities ownsd:
a Deposited to secure circulation (U. S. bonds par
value) .$1,400,000.00
b All other United States Government securities.... 1,861,785.18
Total . 2,761,785.18
!>. ‘Other bonds, stocks, securities, etc.:.. 1.249.199.93
6. Banking house .. 250,000.00
S. lawful reserve with Federal Reserve Bank . .. 1,580,035.63
9. Items with Federal Reserve Bank in process of collection (not avail
able as reserve) .:.*. 816,999.35
10. Cash in vault and amount due from national banks.. 2.988,582.83
11. Amount, due from State banks, bankers and trust companies in the
United States (other than included In Items 8, 9 or 101. 772,637.52
12. Exchanges for clearing house . . 179,935.82
Total of Items 9, 10. 11, 12 and 13. $4,75 8,155.02
3 4. Checks on banks located outside of city or town of repotting bank
and other cash items .*. 184,051.45
3" "ademption fund with U. S. Treasurer and due from U. S. Treasurer 70,000.00
3 . Interest earned not collected .. 58,517.14
Total
$30,847,187.86
LIABILITIES
3 7. Capital stock paid in.$
3 «. Surplus fund .......
3 9. Undivided profits .$666,062.23
b. Reserved for taxes .t. 84.366.06 —
2u. Circulating notes outstanding.V.
’. Amount due to national banks .^.
2o. amount due to State banks, bankers and trust companies in the
T)tfW».t 8«n<l foreign countries (other than included in
Items 21 or 22) ....
? t. Certified checks outstanding ..
2 5. Cashier’s checks on own bank outstanding .
Total of Items 21, 22. 23, 24 and 25.$2,568,296.70
Demand deposits (other than bank deposits) subject to Reserve
(deposits payable within 3 0 days) :
26. Individual deposits subject to check .
27. Certificates of deposit due in less than 30 days (other than for
money borrowed) .>*..
2.3. State, county, or other municipal deposits secured by pledge of assets
of this bank .
30. Dividends unpaid .
Total of demand deposits (other than bank deposits) subject to
Reserve, Items 26, 27, 28, 29, 30 and 31.$11,777,346.64
Time deposits subject to Reserve (payable after 30 days, or sub
ject to 30 days or more notice, and postal savings) :
84. Other time deposits .
85. Postal sayings deposits .
TotaJ of time deposits subject to Reserve. Items 32, 33. 34.
and 35 .$10,350,788.00
36. United States deposits (other than postal savings) including War
Loan deposit account and deposits of United States disbursing
4'. Interest collected not earned .
1,500.000.00
1.500.000. 00
750,418.29
1.400.000. 00
1,246,177.22
1,256,281.34
20,565.56
45.272.68
11,106,835.19
248,821.99
376.689.46
45,000.00
10,344,451.54
6,336.46
356,847.43
U3.490.80
Total .r ..$30,347,187.86
State of Alabama, County of Jefferson, ss:
I, F. 8. Foster, cashier of the above-named bank, do solemnly swear that, the above
statement is true to the best of my knowledge and belief.
F. S. FOSTER, Cashier.
Subscribed and sworn to before me this 9th day of January, 1922.
LOUISE THOMAS. Notary Public.
Correct—Attest: Crawford Johnson, W. H. Hassinger, M. V. Joseph, Directors.
What to Look For
The first dutyT>f Overalls is service. They must
wear well or they are not economical.
Overalls must be comfortable. Plenty of goods
is necessary to allow for shrinkage and give ut
most ease to mind and muscles.
Seams should be double stitched to prevent
pulling out when there is an unusual strain.
Overalls should have plenty of large pockets. The
corners of the pockets should be specially rein
forced.
Buttons should be securely fastened—to have
them riveted is preferable.
The overalls you buy should be so well made
that the maker has no hesitation in guaranteeing
them to give you absolute satisfaction.
have all these NECESSARY qualifications. An
added reason for your purchase of them is the
*--• that they are made in Birmingham.
hillips-Lester Manufacturing Co.
Birmingham, Ala.
Zip! Bang! Fellows! Big
Friday Night Program on!
WHUrttlA
GONNA DO?
MEY! GETCHi
WHEEL WE'RE
GONNA RAC
V By MIGNON HALL
Calling up the neighborhood gang!
Big time tonight. The kids are going strong after a bicycle race,
which will keep them warm. The girls will root for the winners, and
fathers and mothers are to bo the spectators.
As we have remarked before—it’s kiddies’ night! Friday night, and i
school week is finished.
Ope whillikins—after this race, the
whole bunch of sightseers is to ad
journ, with good things to eat Under
their arms, to the home of a neigh
nor, and what a picnfc feast will be
had. Fourth of July barbecue at
Forth Firm Ingham park with Jack
Phillips on the job is the only thing
that could lay it in the shade.
What arc you planning for your
tribe of young Indians tonight?
Or do you expect them to enter
tain you all the time?
One evening out of all 'the week
Is mightly little to devote to having
fun at home.
Don’t lie This Sort
Wouldn’t it be awful to have your
children grow up saying, as lots of
children have to say:
"I'll come over to your house, Bill.
You know we couldn’t have no fun
at ours. They always raise sand
about everythin*? a body does.”
Good picture shows for children go
on at 11 o’clock a. m., each Satur
day—admission 10 cents—under the
auspices of the Better Film associa
tion. Fairy stories and funny stories
are flashed on the screen, and lots
of other things which have been
picked out especially for little peo
ple and Juniors.
Read The Age-Herald's children's
page each Saturday to your children.
Vou'li like what the youngsters have
to relate. Mothers have already be
gun to contribute articles to its
elumns. Don't you remember some
thing funny that happened when you
were a child? Write it and send it
n. Hurry up! Day after tomorrow
i.t \oo far off. Scribble it and mail
t next time the postman arrives to
iayf
BOYS CHAPTER OF
MASONIC ORDER
TO BE ORGANIZED
First meeting of prospective mem
bers of Birmingham chapter. Order
of DeMolay, will be held at Masonic
temple tonight and every boy who
has signed an application or who de
sires to join the order is invited to
be present.
Several inspiring addresses pert**
inent to boys will be delivered by
prominent Birmingham men.
Dr. J. E. Dillard, pastor of South
side Baptist church, and Dr. C. B.
Glenn, superintendent of city schools,
both of whom are on the DeMolay
committee of the Birmingham Scot
tish Rite bodies, are scheduled to
make talks.
At this meeting preliminary plans
of organization will be discussed and
a date of institution probably set.
W. A. Currie, chairman of the com
mittee, has secured the co-operation
of all his workers and tbe prospects
for a large and beneficial chapter of
DeMolay in Birmingham are most en
couraging.
SEABOARD OFFICIALS
VISIT BIRMINGHAM
M. J. Caples of Norfolk, vice presi
dent of the Seaboard Air Dine, and G.
R.*' Carleton of Atlanta, superintend
ent, with headquarters in Atlanta,
spent yesterday in the city on a visit
to local offices.
While' here«the visitors were also
In touch with officials of the Chick
asaw Shipbuilding and Car company.
The Seaboard recently gave an order
for 1,200 new car.** and repairs on
5.000 old ones to the Fairfield plant
of the Chickasaw company. This or
der. coupled with others already on
books, ensures six months of steady
operations at the Fairfield car shops
without counting on orders hereafter
coming in.
WOMAN APPOINTEE
IS STUDYING METHODS
Mrs. Cultie O. Porter of Hillfcboro
is in Birmingham, undergoing a
study of the Birmingham postoffiee
preparatory to taking over the office
at Hillsboro. She was recently'ap
pointed to that office and yesterday
she was investigating po>tal condi
tions in the local postoffice. She
will be shown all branches of the
work here Pn connection with the
government's recent order instruct
ing all postmasters of Alabama to
obtain instructions from the Bir
mingham office.
DEATHS
I'd n a A. Adamson—16-months-Oid
daughter of Mr. and Mrs. John L
Adamson, died at a local infirmary
yesterday afternoon. Funeral serv
ices front Johns chapel this after
noon at 3 o’clock. Interment at Elm
wood cemetery.
Sirs. Jessie llonner -age 74, of Fort
Miers, Fla., died Wednesday aft
ernoon. The body will be brought
to Birmingham for burial. Funeral
services will take place at the Firs:
Methodist church. Arrangements
announced later by Joi ns.
>lr*. Charles I*. Tiyman—Funeral
services for Mrs. Charles R. Tay
man. who died at 1320 Fifteenth
avenue, south, Wednesday after
noon, will take place from the resi
dence this afternoon at 2 o'clock
l)r. J. A. MacSporran, pastor of the
First Presbyterian chinch will of
ficiate. interment at Elmwood.
LIGE LOY
Funeral Directors
ind Embalmers
2210 Third Avenue
Main 769—Phones—Main 4862
JOHNS
Leading
FUNERAL DIRECTORS
Phono Main 1002
2011 Fourth Avsnus
'
AUTOMOBILE FUNERAL
CARS REDUCED
Save $3.00 per car by ordering from
us direct.
City to Oak Hill $5.00 per car.
City to Elmwood $5.00 per car.
City to Wood lawn $0.00 per car.
All others in proportion.
| Jenkins Cab and Auto Co.
I Main 1375 1816 5th Aw.
Complete List of 1922 Mem
bers of Committees Is
Announced
The committees of the Kiwanis
club which will function in 1922 have
been announced by President Joseph
Loveman who recently was Installed
to office.
The club plans an active campaign
for civic welfare this year and is
expecting co-operation of all com
mittee members.
The following standing committees
were announced:
Meinl>er«hlp
Andy Arrant, chairman; Charles
Jones. Sr., Mr. Trammel, Harold Mc
Dermott and Clem Gazzam.
C'laNNification Committee
Jack Adams, chairman; Mr. Brom
berg. R. A. Porter, Lige Chandler and
Fred Rennecker.
r ruoivRiup • ommittce
John Haralson, chairman; Lee Well,
Parson Barnwell, C\ M. Rudolph, Slier
ley Murray and Harry New.
Resolution* <'oinmlttee
Walter Brower, chairman; Ed War
ren, M. V. Dabney, Herbert Levy and
Jim Davidson.
Program Committee
Rod Trilck. chairman; Ed Leighton,
Ted Brownell, (Jordon Erickson, J. M.
Barrett, Thomas James, Bert Mea
dows and Ted Joy.
Clad llitnd Committee \
W. A. Currie, chairman; Ed Dona
hoo, Leopold Loeb. Jean French, Sid
Lee. Jr.. J. B, McClary, H. J. Early,
T. H. Gardner, J. D. Collins and Her
man Arrant.
Sport* Committee
H. L. Thomas, chairman; Charles
Jones, Jr.. A. M. Bruce, Charles Hllty,
W. K. Willett, C. E. Ireland and F. A.
Culiey.
Publicity Committee
Julian .Saks, chairman; Mort Simp
son, II. J. porter, A. W. fc». Johnson,
C. N. Wiley and Bob Daniels.
Educational Committee
N. R. Baker, chairman; Charles
Brown, Mr. Yancey. J. C. Blackwell,
A. A. Currie and A. M. Bruce.
MukIc Committee
Gordon Erickson, Tite Blsadlt and
Carlton Smith.
Attendance Committee
L. M. Robertson, chairman; J. W.
Porter, Ed E. Ellis, John Yeatman, J.
H. Lattuille, D. H. Cronheim and Leon
Harris.
House Committee
W. C. Bonham, chairman; Darby
Brown, J. T. Doster, J. H. Foster and
A. AN'. B. Johnson.
l*ark* Committee
Bob Totton, chairman; J. W. Mc
Queen, Theodore Swann, Tod Joy, Bob
Jemison, Sr., O. L. Bunn. Erskine
Ramsay and D. C. Picard.
Intcrclub Council
Jack Adams, chairman; C. N. Wiley
and Joe Loveman.
Public Affair* Committee
T. O. Smith, chairman; J. B. Mc
Clary. Harry Coffin, Russell Hunt,
George Yancey, Robert Jemison and
E M. Tutwiler.
Intereltle* Relationship Committee
J. M. Barnett, chairman; T. Jeff
Bailey, A. J. Arrant. NY. C. Bonham
•’and H. H. Cobb.
Editorial Committee
#G. H. Crain, chairman; J. E. Chap
pell, C. M. Stanley. T. Jeff Bailey,
R. 1*. McDavid and C. N. Wiley.
Auditing Committee
W. C. Caldwell.
The llooMter*
E. C. Thuston. chairman; W. A. Cur
rie and George T. Gambrill, Jr.
Lire ri_ud OJ i Crtno
MUST BE SERVED BY
JEFFERSON CONVICT
Montgomery, January ^2.— (Spe
cial.)—Clarence Reeves, alias Cecil
Walton, Jefferson county convict,
must live more than one life if he
squares himself with the law of Ala
bama^ The supreme court today held
that he must serv 30 years for high
way robbery and then a life sentence
for murder.
The attorney general’s department
j not many months ago held that sen
tences could not run concurrently
and that a convict must complete the
first sentence before he begins the
second. Reeves was given 30 \ears
by a jury in the Jefferson circuit
court January 17, 1921. He was given
a life sentence three days lat$r.
DRY ENFORCEMENT
MAN ALSO FROWNS
Pierce Scores “Harrison
Echols Pet,” and Wants
Skating Rink at
East Lake
N. L. Pierce, state prohibition en
forcement officer, is against dancing.
"Where is the moral in dancing?’
he asks.
"Did anyone ever dance in heaven’
Haven't the moral peoples of this
world since B. C. frowned upon the
dance hall?"
Mr. Pierce ’would convert Pershing
pier at East Hake into a skating
rink. He writes;
"To the Editor of The Age-IIerald:
"Will you permit me to eulogize a
bit on the 'controversy' anent Per
shing pier, or the dance hall, at East
Jaike. of which there is bo much dis
cussion down city hall way?
"I have to say that I have never
before seen so much interest taken
where there is so little manifest for
good. Dancing at East Hake, such a
joke! Then to be indorsed by two of
the commission, one of them Mrs.
Echols, the only lady member, one
whom I voted and worked for, just
to say that I knew all the other mem
bers (men) would be good, and re
spect the dignity of one of its mem
bers to stand out for this issue
shocks me. I agree with her and
commend her for on© thing, and that
is if you close one. 'close all.' If
she had said In the beginning ‘close
all It would have been so much the
better.
"There are so many more things
of greater importance to consider.
Why dwell on this Harrlson-Echols
>et?’ Head the importance of the
Muscle Shoals project, the caring for
the Mercy home children, the Hillman
hospital fund needed, the auditorium,
the city market, street improvements
to be made throughout the city, a
white way from the Terminal station
to the Tutwiler, the tubercular camp
Just outside the city limits and va
rious and numberless other matters
of grave importance. If half as much
energy had been placed on some of
these things by those who are so
upset over the loss of the public
dance hall muck more good for the
community probtndy would have been
accomplished. 'One regulated dance
hall creating so much confusion.'
Why?
"Why the necessity for a dance hali
at East Lake? Are there not many
more wholesome attractions? Why
not turn the dance hall into a skat
ing rink? I know people making
money out of this sort of enterprise,
and in this connection I know some
body that will take the East Lake
proposition and will not charge the
city one cent, but, on the other hand,
will pay them a nice royalty to have
the privilege of operating same, and
I don't think would lose any money.
"Where is there a moral in
dancing? Did anyone ever dance
into heaven? Did anyone ever ‘stag
ger’ in heaven dru^k? Then why be
so persistent for a dancer? If it were
not possible for one to survive with
out indulging, then with the proper
regulations (which I doubt), we
would then consider such a farce. Has
anyone (no matter how evil) ever
raised his or her voice against the
most wicked attending church? The
community singing, a prayer meet
ing or similar gatherings? No. Then
why is there so much dissension
against the public dance? Haven't
the moral peoples of this world since
B. C. frowned upon the dance hall?
Is there a good of any kind to be
derived from same? Then why Dar
tieipate?
“I commend Commissioner Dickson
In his stand to introduce a bill or so
on record as favoring putting a ban
on every public dance hall In the
city, and further commend Commis
sioner Cloe for seconding the mo
tion, and you need not worry that
Commissioner McLendon will be there
100 per cent with the goods if it ever
comes to another vote.
“The city of Birmingham should
feel exceedingly proud of its present
city commission. Never before have
I seen the majority stand out for
their convictions in a moral issue, as
I have In the present controversy. If
they have made good In this instance,
fellow citizens, you can trust them
In things of more importance. Gen
tlemen of the majority, permit mo
to congratulate you, and should the
issue ever be forced to a vote of the
people, mark this prediction now.
Out-of-Town
Orders Solicited
Return Postage
Paid
E & W methods of
cleansing, are the very
latest word—
E & W facilities are
thoroughly modern and
complete.
Phones 8387*8388
Six
Automobiles
at Your
SERVICE
V*
J
BLOUNT COUNTY HAS
nor CREDIT
—
Commission Devises Plan
Which Settles $70,000 .
Old Indebtedness
Following: a conference of the
Blount county court of commissioners
at which attorneys for the county and
creditors of the county met in Bir
mingham, plans have been devised
For the re-establishment of credit oi
the neighbor county.
The result Is that the indebtedness
of the county has been refunded by
Issuing refunding warrants,'the first
maturing February 1, 19jJ3, and one
tepth each succeeding year for 10
years, with coupons bearing 6 per
cent interest.
Two years ago suit was instituted
against Blount county by sundry
creditors for the purpose of com
peling the county to pay its over-due
warrants. The court of county com- 1
missioners of Blount county, con* ’
Bisting of E. G. Allredge, judge of
probate; J. H. Tuck, R. C. Gardner,
J. H. McCurry and W. E. Martin, com
missioners, has been in session dur
ing the bast week with the repre
sentatives of a large number of the
creditors in the federal building.
The interests of the county were
taken care of by Russell & Johnson,
attorneys, of Oneonta, and the inter
ests of the creditors by Wood &
Pritchard, attorneys, of this city.
It is understood that the county
will offer the same terms to all
creditors, and in this way the entire
indebtedness of the county will be
adjusted and refunded.
The amount which has been settled
during the past week is approxi
mately $70,006, and the remainder will
be taken care of, if proved to be un
paid, at the regular meeting of the
court of county commissioners.
MILLENNIUM DAWN
O. Peyton Moore announces that he
will speak on the corner of Second
avenue and Nineteenth street this
morning at 10 o'clock on "The Mil
lennium Dawn."
that a landslide will reward your po
sition.
"A child can indulge in harmful
iome, nature and solo dancing that
is good for the physical body, but
when they grow older and go further
no good is to be derived. Let’s put
mother ‘flying Jenny* out there so
the dear dancers can be provided for.
md yet T am afraid that this ex
pression might offend some innocent
one, for I have not heard of the citi
zens out there clamoring for what
Mr. Harrison and Mrs. Echols seem
to think is such a necessity. Very
respectfully. N. L. PIERCE."
Are You Prepared to Meet
JOHNS?
If Not See
E. W. Hicks, Mgr.
Security Mutual Life Ins.Co. of N. Y.
1404-5 Amir. Tr. A Savings Bk. Bldg.
Bham.f Ala. Phone 6189 Main
COLLEGE GLEE CLUB
The Birmingham-Southern college
glee club, will make its Initial ap
pearance tonight when an Interest
ing as well as musical program will
be given at the Eleventh Avenue
Methodist church. The glee club per
formance is the first number of a
lyceum course being put on at the j
church.
A musical farce, “111 Treated
Trcvatore" will feature the program
and many lively college glees will
be scattered throughout the even •
ing. Following the program, will
be a reception of the girls of the
Epworth league and the young folks
in general, meeting the college boys.
The Blrmihgham-Southem glee
ciub this year is giving promise of
being one of the best ever put out
and is being directed by Prof. O. Gor
don Erickson. Several long trips are
being arranged for the club to take,
one of them calling for an appear
ance in Pensacola. Fla.
PATTERSON TO SPEAK
J. M. Patterson of St. Louie
well known layman of the Pn ■ •
terian church. U. S. A., will spe* ''
the Fifth Avenue Presbyterian church
next Sunday morning1 at 11 o’clock.
Mr. Patterson has Just returned from
an extended trip through Africa
where he visited th# Presbyterian
missions and will use his experiences
on this trip as the subject of his ad
Iress.
Rev. J. M. Broady, pastor of the
church, extends to everyone a cordial
invitation to hear Mr. Patterson. -
J. H. Hard, Jr.
Public Accountant
Audits—Systems
Reports
807 Farley Bldg.
Telephone Main 5717
A 2-Day Special In Rich’s
Clear ’Em Sale
Men’s $7.50
Shoes
/
For today and Saturday we offer the men of Birming
ham an opportunity to choose from 16 styles in Rich’s
all-quality shoes that were good values at $7.50 for
only $4—a saving of nearly half.
Brpwn and black leathers, in
blucher, English bal, brogues and
bal strap styles.
OUR STETSON SHOES FOR 'MEN
ARE REDUCED TO $12.35
MAIL
ORDER
DEPT.
PARCEL
POST
PREPAID
A Desirable Investment
Is one which is safe, reasonably profitable, and that can be converted into
money at as much as or more than its original cost. The Preferred Stock
of this Company meets all of these requirements for the following rea
sons:
The principal business of the company is dealing in mortgages on real es
tate, chiefly homes in Birmingham. There is no safer security than a real
estate mortgage properly taken, and when secured by a lien on a home,
the maker of the paper and each member of the family has a strong in
centive to protect it.
Commercial paper is sometimes settled by an adjudication in bankr uptcy,
the bonds of strong governments frequently sell for less than par, and the
obligations of some governments have even been repudiated. But a real
estate mortgage for a conservative percentage of property value, never
shows a loss.
Profit and Convertibility
Under existing conditions, seven per cent is a reasonable return on cap
ital safely invested, and some one has said that it is better to be safe
than sorry. The amount of money that has been sent out of the city for
investment in speculative undertakings, and lost, if kept here would
have made Birmingham essentially a city of homes.
We provide funds for the purchase of mortgage paper by the issuance
of preferred stock, which bears a fixed dividend of leven per cent,
payable one-half in January, and one-half in July of each year. The
stock can be bought in sums of one hundred to five thousand dollars.
Experience shows that shareholders of a capably managed company
whose dividends are regularly paid, as a rule retain their stock ;*how
ever, from time to time there are persons who have need to dispose*
of their holdings. It will be the policy of this Company to assist share
holders who wish to sell, and we believe that under all normal and or
dinary conditions a firm market value of not less than one hundred dol
lars a share will be maintained.
The foregoing are in brief the reasons why 'our preferred shares are
a desirable investment, possessing the three requisites of safety, profit v
and convertibility.
Realty Mortgage Co.
JOHN H. FRYE, President JOHN T-. FARLEY, Vi s President
Capital Stock $250,000.00 * 3d Ave. is 20th : .