The Pay Roll Was $36,000

The Ann Arbor Organ Company held its annual meeting Tuesday evening and besides declaring a dividend of 5 per cent, increased the surplus to $30,000.

Five years ago the stock in the concern was not very valuable. A block of stock that on its face represented $2,000 was sold for $700 at that time which made it look about like 30 cents. Today according to the surplus the Stock should find a ready sale at $1.60 and the directors, last evening, decided that no more treasury stock should be sold.

During the past year 90 men have been employed and the works have been run to the utmost capacity. Over $36,000 has been paid out on the employees' roll and more organs than ever before have been turned out and sold. . They have gone to every quarter of the globe. A good trade has been induced in Great Britain, Germany. Holland. Norway. South Africa. Australia and on the Pacific coast. General Manager James C. Henderson will make another trip to Europe this coming summer to visit the customers of the company.

The confidence of the stockholders was shown by reelecting the board of directors. The board organized by electing Frederick Schmid, president: Gottlob Luick, vice-president; James C. Henderson. secretary, treasurer and general manager, and David F. Allmendinger, superintendent. The orders for the new year are large and the outlook is good. A large store house will probably be built during the coming' year.