[Annual General Meeting of Shareholders held at the Central Hall Renshaw St. Liverpool on Friday 13th June 1930] Present Messrs W. C. Cuff (Chair) E. Green, A. Coffey, H. Banks, W. C. Gibbins, W. J. Sawyer, J. Sharp, A. R. Wade, Dr. C. S. Baxter (Directors) and 236 Shareholders. The Secretary read the notice convening the Meeting. Press It was agreed that the Representatives of the Press be admitted. Accounts & On the motion of the Chairman at was Balance Sheet} decided that the Statement of a/cs Balance Sheet be taken as read. Auditors Report The Secretary read the Auditors Report. Directors Report The Directors Report attached to the Balance Sheet (a copy of which is attached herewith) having been read, the Chairman pointed out that our transfer fees were always paid out of Revenue a/c. Some clubs had a Premiums a/c but our policy was to pay as we went along and not to include them as an assett on the Balance Sheet. He much regretted our descent into the 2nd Division of the Football League, and attributed it in no small measure to the inexplicable loss of form of some of our prominent players and by bad luck in many of our matches. Injuries had been abnormal & no fewer than 7 operations had been performed on our 1st team players. The team had made a wonderful recovery in the last few matches & our destination was not decided until after the last Kick at Goodison Park.