1675-1 Hotels Gen. Info '1 k
i
OFFICFRS: DIRECTORS
JAMES H. SNOWDEN, PRRIDEAT JAMES H.SNOWDEN
JOHN H..LEVI, VICE-PRE . AND TREAS. JOHN H.LEVI
CHAS: 3C.CLARK.SECRETARY• THE MIAMI OCEAN VIEW COMPANY CARL G.i1BHER
OWNERS OF STAR ISLAND HENRY HIJ ENFY
FRANK B..SHUTTB
OFFICE FIFTH STREET AND ALTON ROAD H. R. DUCK WALL
•
ENTRANCE TO CAUSEWAY RALPH FOLK
MIAMI BEACH. FLA.
lots and X3,500.00 for corners. -e still have about x20 lots
left on the mainland, exclusive on the 37': lots on ;star Island
and of 155 lots on the mainland leased for '.:en years as golf lin:_s,
which at the end of that time will revert to this Company. Of the
• •_20 lots on the mainland a number are Bay Pront property, \ hioh
no doubt will brin; a very nice price.
I am enclosing; our state_zents as of I'ebruary
28, 1921. .;e paid the Government _.n income tam to the amount of
.)04,000.00 on realized profits for last year. Dur net income
fo: the year 19...0, as shown by our Income Tax Return, was .2245,000.00.
Our .gloss cash receipts for the same period anounted to .„;537,000.00.
great deal of this put basic into the property in improvements,
such as streets, and new residences on Star Island and the mainland.
Of course the residences we have just completed belong to this
Company. Our roads are practically all completed now and there will
'be very little expenditure in the future for improvements.
• This Company is operating with practically no
overhead: that is one reason our income tax was so excessive. The
commissions paid on our sals were probably loss t:inn four per cent,
d,zo to the fact that a great many of the sales were made by this
office direct and not tiaroun outside Agents.
I shall be very glad to give you any further
in orwation you may desire. Pith kind regards, I remain,
Yours very truly,
TM I,iL iI CCEIR1 Y
•
•
Vice-President.
JHL-K
1