EVERTON FOOTBALL CLUB CO., LTD. GROUND & REGISTERED OFFICE:- SECRETARY. THOS. H. McINTOSH. Goodison Park, TELEPHON NO. 63 WALTON. Copy. Liverpool, TELEGRAPHIC ADDRESS, "FOOTBALL", LIVERPOOL 17th May 1930. Directors Report to be added to the Balance Sheet. The Directors regret to report that the Season's working- as will be seen from the Income & Expenditure Account - shows a loss of 212,560:1:6, such loss being attributable to the abnormal sums paid for the transfers of League Registrations of players during the past Season. This loss has been transferred to the Profit & Loss Account and after making the usual reserves for Depreciation, the Balance standing to the Credit of the Profit & Loss Account is consequently reduced from £56,567:0:3 to £42,056:5:4. ` The Directors are of opinion that the available balance just- ifies the recommendation of the usual dividend of 7½% on the called up Capital. The amount owing to the Midland Bank Ltd., £9,233:8:6 is secured by a Legal Mortgage on the Company's freehold properties. Signed:- W. C. Cuff, Chairman. W. J. Sawyer, Chairman of Finance Thos. H. McIntosh, Committee, Secretary.