16 [Meeting of Directors held at Exchange Hotel Liverpool on Friday 15th May 1931] Present Mr W. C. Cuff (Chair) & all other Directors Except Dr C. S. Baxter. Minutes The Minutes of meetings held on the 5th & 11th inst were read & confirmed. Accounts & The Secretary presented the accounts for the Balance Sheet year ending 2nd inst, and after Mr H Bowler (for the Auditors) had given explanations of the various items it was resolved that:- (1) The amount due from Sundry Debtors be valued, for the purpose of the Balance Sheet at £1438.12.4 (2) A depreciation of 10% be written off all Stands, Hoardings & Erections amounting to £2577.5.9 (3) The amount expended on Clothing, Material & Stores £345.18.3 be written off Income & Expenditure a/c (4) The Statement of a/cs. Profit & Loss a/c & Balance Sheet be approved. (5) A Dividend of 7½% (less Income Tax) on paid up Capital be recommended. Annual Meeting It was proposed & carried that the Annual Meeting be held in The Hall, India Bldgs Water St. L'pool on Thursday 28th inst at 7.30 pm It was decided that the Auditors of the Coy (1) Attend at the office of the Coy to receive proxies (2) Take control of admission to the Annual Meeting & the distribution & counting of voting papers, and that they be authorised to obtain the necessary assistance (3) To despatch notices of the meeting & copy of a/c to the Shareholders.