I would not suggest using a setInterval when dealing with animations due to the way newer browsers are making changes to the way setInterval and setTimeout work when the tab is not the active tab.
var $title1 = $("#title-1");
var $title1img = $title1.find('img');
function anim(){
if ($title1.height() < parseInt($title1img.css("bottom"))) {
setTimeout(function(){
$title1img.animate({bottom : '-=60px'},anim);
},5000);
}
}
$title1img.animate({bottom : '-=60px'},anim);
Edit: another reason not to use setInterval to fire off animations is due to the reqeustAnimationFrame that was implemented in 1.6 and removed in 1.6.3, which will more than likely be added back in 1.7. If you write code now that will be compatible later, that's less maintenance you will have to do later if you end up being required to upgrade.
Here's a jsfiddle http://jsfiddle.net/czUnU/
Edit: function...
function animColumn(title,img){
function anim(){
if (title.height() < parseInt(img.css("bottom")) {
setTimeout(function(){
img.animate({bottom : '-=60px'},anim);
},5000);
}
}
img.animate({bottom : '-=60px'},anim);
}
animColumn($("#title-1"),$("#title-1 img"));
animColumn($("#title-2"),$("#title-2 img"));
animColumn($("#title-3"),$("#title-3 img"));
http://jsfiddle.net/czUnU/1/