102 [Annual General Meeting held at Central Hall, L'pool, Friday, June 4, 1948.] Present:- Dr. C. S. Baxter (Chair); Messrs E. Green, W. C. Gibbins, W. R. Williams, R. E. Searle, C. C., F. W. Lake, J. C. Sharp, Major R. A. O. C., H. R. Williams, Sec'y. & C. S. Shareholders. Sec'y. read notice convening the Meeting. Press 44 Members of the Press were admitted. Directors Report Dr. C. S. Baxter gave his report of the A/cs & Balance Sheet season's working & Mr. G. Bowler having read the Auditor's report, the adoption of the Accounts & Balance Sheet as read was put to the meeting & seconded by Mr. E. Green. This was carried. Dividend Mr. W. R. Williams & Mr. R. E. Searle seconded that a Dividend of 7½% on the Paid-up Capital of the Company, less Income Tax, be paid. This was unanimously approved. Auditors Mr. D. G. Stephenson supported by Mr. R. Thompson, moved the re-election of Messrs T. Theo. Rogers Bowler & Co. as Auditors for the forthcoming year at a fee of Eighty Guineas. This was carried unanimously. Directors The Chairman reported that Mr. W. C. Cuff having resigned & Mr. W. E. Bradshaw having withdrawn his candidature, he had now to declare Messrs R. E. Searle & F. W. Lake - retiring Directors - with Mr. N. W. Coffey, the only other candidate, elected for a period of 3 years. These three gentlemen expressed their thanks to the Shareholders.