me pieamoniTon Report To Stockholders See Page Three VOL. XI, NO. 2 1948 — TWENTY-ONE YEARS OF SERVICE — 1969 APRIL, 19S9 Directors Declare Stock Dividend; Stockholders Elect Morton To Board A ten per cent stock dividend was declared by the Board of Directors of Piedmont Aviation, Inc., at their annual meeting. Payable June 2 to stockholders of record May 15, this marks the third stock dividend ever declared by the company, commenting on the action inia m In commenting on taken by the Directors, President Davis said, “In view of heavy toancial requirements in connec- with our equipment program 'd the loss experienced in 1988 the Board felt it was in the best interests of the Company and the stockholders to declare a stock dividend at this time in lieu of the cash dividends that have been paid to Piedmont’s shareholders regularly since 1984.” Preceding the Directors’ meet ing, the annual meeting of Pied mont’s stockholders was held where the Company’s Vice Presi dent—Finance and Secretary T. W. Morton was elected to the Board of Directors. The stockholders also re-elected all the present directors of Piedmont. Those directors are: President Davis; Senior Vice Presidents Brown, Northington and Saunders; E. L. Davis, E. L. Davis, Jr., Charles E. Norfleet, John F. Watlington, W. Frank Dowd and Ralph W. Gardner. The stock holders approved a plan authoriz ing the Company to purchase on the open market a maximum of 10,000 shares of Piedmont’s Com mon Stock to enable the Company to meet its commitments under the 1967 Employee Stock Option Plan without issuing additional common stock. Also at the Directors’ meet ing all of Piedmont’s officers were re-elected. They are: T. H. Davis, President and Treasurer; H. K. Saunders, Senior Vice President; R. S. Northington, Senior Vice President; C. G. Brown, Jr., Senior Vice President; T. W. Morton, Vice President—Finance and Secretary; W. W. Barber, Vice President- Purchasing; H. M. Cartwright, Vice President—Maintenance and Engineering; W. G. McGee, Vice President—Sales; K. E. Ross, Asst. Vice President—Traffic; W. 0. Tadlock, Asst. Vice President— Flight Operations; R. E. Turbiville, Asst. Vice President; A. F. Long, Asst. Controller; J. R. Farley, Asst. Secretary; and Mrs. Rilla M. Gregg, Asst. Secretary. Mr. Morton fills the vacancy on the Board created by the death of Mr. Bowman Gray. I T. W. Morton New Director APRIL TRAFFIC SETS ALL-TIME RECORDS April, 1969, was the largest single passenger traffic month in Pied mont’s history. A total of 204,995 passengers flew on the Pace makers. This marked the first time the 200,000 passenger mark was ex ceeded in a calendar month. Another record set in April was an all-time high for Revenue Pas senger Miles. A total of 53,428,525 rpm’s was listed in the final statis tics. Are You Taking Advantage Of Your Employee Stock Purchase Plan? UU( % The recent stock dividend de clared by Piedmont’s Board of Directors was good news not just to a lot of “unknown stockholders” but to a number of employees as well. At the end of December last year there were 204 Piedmont employees buying stock through payroll de duction. They bought an average 27 shares each last year, paying average of $13.46 per share. All 0 g e t h e r employees purchased 4,128.08 shares and invested a total of $55,498.64 in the Company’s com mon stock. The stock dividend means that for each ten shares an employee owns as of May 15 he will be given another share. During the first quarter of this year employees purchased 844 shares for a total investment of $13,774.20. The average price paid per share was $16.45. At the end of March there were 179 partici pants in the stock purchase plan. This is a decrease of 12.25 per cent in the number of employees who take advantage of the payroll de duction. To help you keep up to date on the amount you pay for stock each month the Piedmonitor will publish a periodic report of the number of shares purchased, the average price per share and the total in vestment in the previous month. If you are not already partici pating in the stock purchase plan, you need to request the necessary forms from accounting for payroll deduction authorization. You can have any round dollar amount with held, subject to a minimum pay ment of $10 per month and to a maximum of 10% of your pay. The stock purchase plan is handled by the Trust Department of Wachovia Bank in Winston-Salem. An indivi dual account is maintained for each participant. All your money goes toward the cost of stock only. Piedmont pays all the expenses of your investment program except the Bank’s termination charge which is $5 each time you make a withdrawal from the plan. The number of employees partici pating in the Stock Purchase Plan is not wholly indicative of the total number of employees who own stock. In addition to those who purchase through payroll deduction there are 183 other employees, not including joint accounts, who own Piedmont stock. THE 49TH STATION opening certainly deserves a ribbon cutting cere mony as evidenced by President Davis, at left, sharing the scissors with Newark's Deputy Mayor Paul Riley. Looking on are Edwin Sorenson, center back, manager of the operating services division of the Port of New York Authority and Carl P. Oswald, director of the Economic Council of the Greater Newark Chamber of Commerce. The charming young ribbon holders are daughters of New York areas sales manager Vincent Dieringer, Betty Jeanne, left, and Mary Ellen on the right. DUFFER NAMED DIRECTOR FOR SUPPLY SYSTEMS Newark Becomes First All Jet Station For PI Piedmont added the 49th station and 80th city to its system when service was inaugurated to New ark, N. J., on April 1. Besides add ing a new state. New Jersey, to Piedmont’s system, Newark is also the first, and as yet, the only, of Piedmont’s stations served totally by Boeing 737 jets. The initial pattern of service offered flights from the Garden State to Lynchburg, Winston-Salem, Asheville and Atlanta. On April 27th two additional flights expand ed the service to include Roanoke, Fayetteville and Wilmington. The inaugural flight was greeted by representatives of the Mayor’s office, the Chamber of Commerce, Port of New York Authority and Delta Air Lines. Delta is handling Piedmont’s operation at Newark. Newark’s Deputy Mayor, Paul Riley, and President, T. H. Davis, cut a ribbon commemorating the start of the new service and ex changed keys for the mayors of Newark and Winston-Salem. From all reports the Newark flights have been well received by Piedmont’s passengers. Vice President—Purchasing, W. W. Barber, has announced the ap pointment of Henry G. Duffer as Director—Supply Systems. A native of College Park, Ga., Duffer is a graduate of Georgia Institute of Technology, School of Industrial Engineering. Prior to joining Piedmont he was with the Data Processing Systems and Tech nical Operations Planning Depart ment of Delta Airlines in Atlanta. Mrs. Duffer is the former Jean Etheridge of Charleston, Miss. They have five children. Duffer’s responsibilities will be to revise and establish systems related to purchasing, shipping and receiving, provisioning, stores and inventory control. Particular em phasis will be placed on those sys tems which involve the application of Data Processing equipment. HENRY G. DUFFER Director — Supply Systems DON HOLLIDAY IS PROMOTED TO CITY SALES MANAGER DON HOLLIDAY City Sales Manager — ROA General Sales Manager, Sheri Folger, has announced the promo tion of Donald E. Holliday to City Sales Manager for the Roanoke area. Holliday has been Piedmont’s Sales Rep. in Roanoke since last spring. A native of Pulaski, Virginia, Holliday graduated from the public schools there and attended East Tennessee State University. He worked for Eastern Air Lines in Washington, D. C., prior to join ing Piedmont seven years ago as an agent in Roanoke. Mrs. Holliday is the former Barbara Warner of Pulaski. They have a daughter and a son and live at 5854 Santa Anita Terrace in Roanoke. HERE 'N THERE Citizen of tlie Year Winston-Salem Dispatcher, Larry Overby, was recently named Citi zen of the Year by the Lions Club of King, North Carolina. Overby has been with Piedmont as a Dis patcher since 1952, prior to that he was with the FAA as a control tower operator. Overby, who is a native of Lynchburg, Virginia, was selected on the basis of his exten sive work with young people in King. Since 1955 he has been an official in little league and high school sports activities. He has served as President of the Win ston-Salem Umpires Association. Overby is also an assistant scout master. Pilot Wives’ Club A note from Janet Adams was a report of the formation of the At' lanta Piedmont Pilots Wives’ Club. Having been active since Septem ber of last year they now have a membership of 25 and are growing every month. Their monthly meet ings, held on the last Thursday, sound interesting and varied. They issue a news letter, “Under Pied mont’s Wing” and are inviting all Atlanta Piedmont Pilots’ wives to join. For further information con tact Mrs. Joan Benedict at 366-9354 or Mrs. Doris Turner at 478-1880 in Atlanta. Station Manager Change By mutual agreement Station Managers Bob Bennington and Dan Berry have exchanged stations. Dan Berry is now manager at Augusta and Bob Bennington is at Petersburg. Interline Winners Two Piedmont agents were re cent winners in an Allegheny spon sored “Partners In Progress” In terline Contest. Jenny Reynolds of the Memphis station and George Scheren from Baltimore won tran sistor radios. The first prize color television was won by a United res agent.