51 [At a Meeting of Directors held at the Bradford Hotel, Liverpool, on the 4th June 1919.] Present:- W. R. Clayton Esq. ( in the Chair) H. Banks Esq. J. G. Davies Esq. A. Coffey Esq. R. T. Francis Esq. John Davies Esq. E. Green Esq. H. Halsall Esq. The minutes of the proceedings at a meeting held on the 26th ultimo were read & confirmed. Annual a/cs Mr. H. W. Bowler of the form of Messrs Theo. Rogers Bowler & Co., the Auditors of the Co. attended the meeting & submitted the Income & Expenditure and Profit & Loss Accounts, and the Balance Sheet for the Year ending 30th April 1919, making detailed explanations, and it was Resolved. 1. That the amount paid to Players as per League Rules £931.18.8 be shown specially in the Amounts, & deducted from the other items as follows:- Travelling expenses £377. 8. 2 Gate Expenses 310.10. 1 Training Expenses 236. 0. 5 1920 2. That the amount due from Sundry Debtors be valued for 847.3.6 the purpose of the Balance Sheet at £1,218.3.3 on open accounts, it being reported what they consist of. 10% 3. That a Depreciation of 10% be written off all Stands 705.18.5 hoardings & erections, amounting to £784.7.2 4. That the amount expended on Clothing, Material & 471.14.0 Stores £258.12.11 be written off the Income & Expen. a/c. 5. That the Statement of Accounts, Balance Sheet & approved Profit & Loss a/c be approved. 7½% 6. That a Dividend of 5% on Paid up Capital (free of Income Tax) be recommended.