Ch. Report U. S. A. Tour success financially, left injuries which made bad start to season despite which finished in highest position since war. Season was financially very successful with record income. Large expenditure in Ground improvements & profit considered satisfactory. Drs. Report Prop. W. Brich Sec. D. McPhaill. a/cs taken as read. Mr. Hughes presented the a/cs for approval anonymous Benefactor - £20,000 to whom all are grateful. Questions J. H. Hinton Mr. Beattie a/cs Prop. W. Birch sec. J. H. Hinton & carried. Prop. DIVI. E. H. H. Sec. D. McPhaill SEC REMUN. OF AUDITORS PROP R. E. S. SEC W. H. Sawyer ELECTION OF DIRECTORS PROP. Ch. SEC W. H. Sawyer Mr. Searle thanked Shareholders on Behalf of 3 Directors. Mr. Sharp report of Ground Committee. Improvements on playing pitch & at Bellefield. Report J. Taylor, Maintenance. Many improvement:- Bars New. & New Toilets & Major repairs. Q. Swift. Manager's Report:- Injuries cost us 2nd position & possibly Champ. & poor away record. P. T. O.