Pioneertown Holds Board Meeting
Perhaps one of the most unusual corporation meeting is ever to be held occurred recently at Pioneertown, the new desert-mountain community on the southeastern slopes of the San Bernardino mountains. The occasion was the first annual meeting of Pioneertown, a California corporation, and the setting was the Red Dog saloon, one of the early western buildings on the colorful main street “where the old West lives again.”
Dick Curtis, president of the corporation, presided at the meeting at which over 90 per cent of the stockholders were present or represented. Mr. Curtis disclosed that net profits for the first quarter of the current fiscal year before federal taxes were $8,884.86, equal to approximately two cents per shares on the 424,968 shares outstanding. This compares with the operating deficit of $2,303.28 for the first fiscal year. Assets were increased by $34,350.18 during the first quarter of the current fiscal year. The financial report distributed to the stockholders showed a corporate net worth of $436,817.71. The directors were all reelected for another year and included Dick Curtis, Thomas Carr, Frank McDonald, Russell Hayden and Philo J. Harvey.