Combine shortening, sugar, salt and eggs in a medium mixing bowl; beat well, and set aside.
Combine flour and baking powder; mix well.
Drain cherries, reserving liquid. Add flour mixture to creamed mixture alternately with reserved cherry liquid, mixing well after each addition.
Stir in cherries and pecans. Spoon into a greased and floured 9 x 5 x 3-inch loaf pan.
Bake at 350 degrees for 1 hour. Let cool in pan 10 minutes. Remove to wire rack and cool completely.