286 Auditor's Report Mr. H. W. Bowler read the Auditor's Report. Proposing of B/S On the proposition of the Chairman, seconded by Mr. Williams, the Directors Report, Accounts & Balance Sheet, were unanimously adopted. Dividend Mr. W. C. Cuff proposed & Dr. C. S. Baxter seconded, that no Dividend be paid this year. It was pointed out that Football Association Regulations made provision for retrospective payments. The proposition was carried unanimously. Re-election of Auditors Messrs T. Theo. Rogers, Bowler & Co. were re-elected auditors at a fee of Sixty Guineas, on the proposition of Mr. W. Bruce, seconded by Mr. Burton. Re-election of Directors The Chairman referred to the fact that Mr. W. C. Cuff, the sole retiring Director, was now holding the proud record of over 47 years service with the Everton Club. It was a record of which he should be justly proud, & one in which we should take pride, as although by virtue of his office as President of the Football League, he would be a very busy man; he had very willingly agreed to stand for re-election. Messrs R. R. Turnbull, who had already had some experience on our Board, & R. E. Searle, C. C., were the only other nominations, as in a united effort to bring about harmony in management, other nominees had withdrawn their candidature; therefore he declared Messrs Cuff, Turnbull & Searle elected Directors for a period of 3 years. Each of these gentlemen expressed their intention to do justice to the Shareholders judgement. Vote of Thanks Mr. F. W. Lake proposed a vote of thanks to the Directors for their services. He