The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-01-29
a GREAT SHOWING.
Annual Meeting Of the Salem
Improvement Company.

Tho annual stockholders meeting of
the Salem Development Company, held
in Athelr office at IL a. m. yesterday,
was largely attended and majority Of
the stock represented.
DR.. Joseph A. Gale was made chair
man of the meeting and S. D. Nc
Common secretary.
The secretary read the annual report
of President Allemong, which showed
the affairs of the company to be in very
satisfactory como ition. The company has
q surplus OF S243, O3O.72 and the company
has sold only about one third of It's prop
erty.
Messrs. e. G. Langhorne, f. V. N
Painter and w. Il. Younger were ap-
pointed to audit the books and accounts
of the secretary and treasury and report
to the board of directors, after which
Col Logan read the following resolu-
tions, which were adopted:
Whereas, the president Of this COM
panY has made his annual report to the
stockholders:::a land whereas, the duties of
this company has been very large, in
volving many transactions, including
sales OF property, donations, subscrip
tions to the stock of other companies,
loans to individuals and other Joint
stock companies, and the grants of
lands and franchises to individuals and
other joint stock companies in interest
of the gene raj promoting of tho affairs
and business of this company: Now,
therefore, be it
Resolved, That tho report OF the
president be and the same is hereby
accepted and in all things ratified and
confirmed.
Resolved, That all of the transac-
lions Of the officers and the board of
directors of this company in the man
agemont Of the affairs of this company,
including all subscriptions, donations,
loans and grants be and the same are
hereby ratified and confirmed,
Resolved, That the management of
the affairs of this company by it's pres
ident and board of directors be and the
same is hereby commended and APP
proved"
Mr.. j. w. f. Allemong was unani-
mously reelected president for the en-
suing year, at the same salary as last
year.
The meeting then authorized the Sec
rotary to cast its vote for the following
board of directors: j. w. L. Allemong,
d. Il. Strouse, T. j. Shickel, S. f. Sim
mons, James Clark, C. M. Clark, E. G.
Pechin, Robert Logan and N. D. Bar
nett these two latter gentleman filling
vacancies caused by the death of Mr..
John M. Evans and the resignation of
Mr. Charles G. Eddy.
Mr.. L. G. Pechin made few informal
remarks, in which he stated that he
had not seen report from any land
company which mado such good show
ing as that of the Salem Improvement
Company; that, among the land COM
panies OF this State, it stood alone as
the most gigantic success of them all;
that its success was due to the zeal a nd
ability of its officers. He particularly
complimented Mr.. Allemong on the
unerring judgment with which he man
aged the affairs of the company. leaving
little to be done by the directors except
to confirm his actions.
In commenting upon the investments
of the company, Mr.. Pechin said that
in q normal condition OF business nine
tenths of them would prove iudicious
and profitable ventures.
The meeting was pleasant and har-
monious throughout, lasting only about
one hour, after which the board of d.
rectors met and reelected S. D. Nc.
Common secretary and treasurer, and S
L. Simmons president.