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ON TIlE l\1ICROFICE RECf)RD

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,AWAADEJ> ftm EXCELLENCE
rt No. F'S 31059
lonnol & TraInIng
lalile~ HOUSf! 15 an EXdcutiva- AlJen/'y of 1(l~ Ot~pa:tml:!llt af Tr~<1e ,'md Industry
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THE EVERTON FOOTBALL CL..UB COi\1PANY Ui\UTEO
ft..'OTICf OF AIEETING
'-

,~tl1 ~t f !~ IU !\f BY (Ji\ ( N HMI tht"\ 4UW lumdu..f & ('h",t~' llh Directors
/\flJHMI (;t1iw !'J l .M t'H tOH t\f th(' CUmIHn~" ",sUIU' held ll~ tilt' P. D ('A::11 11,
f B f 'I t h,wm.Hl
,»iht. Q.h, Thf'hHton roulb.:J1l ( luh t nmJHn~' I unur d,
tt' }\ \\'1 \~.'~ttlt~\\m11i
(~oHdl\:fm (l(,n"'., I ~\NpHnI14 4H" un lhlH'\tJ.W lht, l'ird Ua\.' K (~·t TElI':lhn
h~ /\'itgu".!. p·14a, at ';T W GP m In rf't ('IU"' clod t on~ld("r tilt: (J. t\ n N('wlnn
~f'Pll1! ut .liP OlH'~ tl.r,," and dw /\(.\.uunti\ (tH' tlw \ ear l'f1df'd n Ii Pltfhl'ir
, ht IMt'~ 1litm, ~~j P~(\ , f')'fh tp!~.. 11 hWI)i)IIH AutJHof~ 1(1" ~h(l' D" ,'1.Mahh
f·n'U;O~~('~\r. and elit1\ ,1t(~lr n'IJ~m~3wr"tlfm,and It;Hl~j)S~l( l' an\' \V. KrO\H.~~1
~ l!h-l'l "Il\fnf"'1~ \\'h~l h mol't htl U'<ln'h)l t('{f Jt lhi'Anl1uc}!{~('t!f'rjll
Mn~~wH (d tht.' C~ \mp.ln'li'

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AlI~tlJ("t, 1 qqn
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M~nag~r
2irtJ jlll~'., 1q~}1J
J, Cu 1{llt'Vt'\
Admisslon on Pr~('l1lation o(
Annual Report

NOhU'I" ~\''''t, Ht\:(en thllt,1 Mc:mlwr "d' Ih~' Cumpam. rUhllN! ttl a.,nkN5
JUt)nd and voto ,ll the ~\hO\,(l Annulli (,portal i\\C'1ltm~l ~~ TSll 8M'' - ptt,
l~ntlll(-d to ..lJ~pt,mt.1 pn.n.)· h I 11tit nd and 'lotl' 1Il~Ift,..ltl OjhUll,
l

.Uttl '.hllt lhf' pm\V IW'l"tf not I>t.\ ~l memberof th(~ rOms),lO~.

PftA'(W~ mo~r Ir.(1 In&Jw'd til 'lIf~ ~P~J+.INl'(1 nj'{~:r; oj ,Ih'

( HmJl.10\. m,;! It,,-!v, tfhM ·m
Jum.rs h~~tou' fllt' W-'H~ 01 aM' ll:.uditors
,',~ e(·-t ~.fl~ I{o;wn" How Ier &. Cu
 __m III

THE EVERTON fOOTBAl;" CtUB CO~1PANY U~~\I1€D

Cl-IAIRMAN'S REPORT

\ h~l\'(l r:.'mt
h Jlh',,,,n(~ In ~uhl11lttm~~ lhl' f uMm ~,\I rkpI1lt f uH~ 1\'~ Hi}: m~ J,ll"" IPp!l71; \...... ' ..... ~. f~;, W,'\~:i ~ hi',1 _II~ I, ~", ~. 1~~" ~
1}~Ht '\l ( m.mh In flw t",n~li·t m,"j~k", V, f" hl mi'~i.~ "..;" 1:1/: ":~:,, V'..:~, '. ~, (,\~.
Attn't'hi •• nd P(lll"t 1l(~'~~'I,I' 1';.1\\•.,,, ,t \'d~·. ('n' Pl~~ ~di i P,I ""I
lltf' t ~i~~»h l "t"!'~ ln "t th ..... tWnlt'l\, dlt ,lpl)4llntmf~, hoth H.llIWf'. tw \\ II~~ m" f ':ml HrL~t l~~\ i'li dHI~ t"r~ !1!t~~ h\f'~l;:~
lh.)m tht' pwnt t j: .. 11)\\ nt l t~,l~Ut' ()o~llit ~n'l .lJiI'
(1111
pi·f'-UU1Mm ", ntt'
taMll pa~1Ut· J)4,\~jhnll (It Mil um \oj M:~\lln
I\:HN h'\f ,mtl,'p,lIf'\~~h ~.·.·,t'~ lit :,t~ j,~nh\n~ ,\ \v.lll t!lPt""l tfpll!m
oil utnn 1m\ n JIHI ,t..hlhfullL '1M' IMtI uml nt tlw \'.nr\t ~'l"\W.,.. \\ JIt·",> !"t ~,~.:!hdl! ~ R,tlc ~:,np
n·~ nn'h It! ttul 1(·,·~~uP< .... llmUlH onl)l l }~M~W" j,)lIlH\IIl~ an \. orl~m,f ~. ".1t L1H
(-'('\PJH\ 1~l4.l} ~)\Irh~mlclni ~·lli('~1tt\\'lntl~~I.)~Jiltv.ht'n,'t'"' '"un .~' Irp'cmd ~ \\ hltf~"li~M
nnl~' <4 ~,mw:. lhl~, \',,\~ IU ""h,up .. lmtrilq tf' t~ur hOrtt(b U't otd. I ttl" K ~fWfd~~
wlwtp \\t' ,u\tdm "d tlw ~nmt lugtw\t rnnnbor of \\,nnm~;
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'Itu.)~mn ~n\~h" from h. '.llIl~ 1\qUlh'lUlil( f ~p~clhh·. ~llld we tiff' '~,nU,H).! ' W p ~t'~'_I~'~
ont.P, c.l~~,un hu~~' m thr' lJim~h'r IIlJrkN "-u ,'dt'fj '( ....' '1' ~. Rph!\
tnn'LWtJ 'f;:2 } t hhwH t( t~phhnl
t '~H JU5'~n lfhllu ,n In Iht~ IWf. t up ('ompPhllf):l\ •••...IS ,\h.u
dl"llfl~}{JlI1Im~. W(l\~ ('fWlj..nrK "'lttloulot til<' lluft:w(wd~ 1•.: IJp I\t\\'Ui R,H( hft", \\ nit 4B ('~lP';. t~.l'" nnw WUf) !ndrt~ H~!n
In dtp.uh Round trw Nt. mUl#lJf1l f on..." c.md rn 'I)11l,1 nt plllV 111~~ flJlltl1MI honour\ ~h;nl .In\! ~,~fwrpl.wP( In f~('t1fm-"h '\~l'd\1,
': ,~lun('\ If) lh~ f :\ t -H~} '\''('' \\('i(' ht1.ut."l !W C>ldhJfI1 Athlt'lic
In Rmmd !'.i <,11\-, ). (L'pIIW" hl~l.md\ n.11Itm.d h·~lin 'I\. qutUl'd tfll'm'l,('I1.'('~ ..~~ lIb. ~~W,)~
In dw ~\mtlll\ tJ\l~Ut· V~(" Wf'fl' lHll, ~".IllhnlJ~h ~NJHUt, oedl[ dtHHlR ttw It.'\( N~l \\ ,trW ( op ('omIWhfmn T~W~ 'I,\'Nt'
Ifl3Uri(~ to uur iu\t ttWll\qll.ld nMd(\ 11 IW( l' .....u'! tor tht', O,l( h "t
•4) hl~\~N" .W~ Jy from qjJ,d!l~ Hli'th.1' lItl~ fllMI, and \'H1lll'd J ~~,m
t,Urti l lhw(~ hrnu.th1 tn tht'~ m"ild'l tl -nuth /:tn-·,-ltN l\.C,n.~I' 81,1
to f11(t\" a hl~h(", P"f( (~nti\~~(\ ol .,..nun~t.'! pIJYN.. tlhln flW'fihl),
l nm~"llt!lH IO! d(ltt 'ImmLllu HI ~~lld ~Fmt~ff'l~~n'~hlp e~ii':'" lh~H
lhp .". T£'..U iJ hrw.. lwd" t wdltJblt, 4th In lht.·lllf'ltt\<thire ~hO\\ n h't th(~ h\ ~j :1O.dl"'f~>
fomlMII tc\,gu~
~Ul( '~tht.' Nulo! dill ~(·.l'ion, Han) Cn()kl~ ('Iur C- h wi ~{out
I h'l\\(I\'t.\r" [ ngLwd '"''l'..k u~ pl.X\ Mid ~.('JWfJ.l .Hldgdp; ~;~
:h(' ft.~hl brmmht Ihpln ~fw "LB,r PI,'J~ !\\hl~d ..UUI I t!fiD
rptlr('(f "ltl'(!; l ¥('M\ wllh Ih(J Club,\\,,1 thiln.... him for hJ~ I ',tll
(1(llw,htt'tl, Iln llt.'h.dl' t.f f~'Pltn,). (' to ~ fJn~t,\IIl~_Itf'~ttNIIj')
and ~UP~l(>rtt ,.uti I J..nU'\\ tlh1t ~"\It\rv{)Il<' t1t h('rWn I C \~)~h
t}Wlt m,m~l~:t"r Bl.lhh\ £{ub··ql), Il,l1d lu<>, ~tdH
him ~1 htlPP\ ,lntl wt)'",m~ H~t1ff"nw nl I i,Ut\', \'t' lit .J IWil.rs hi.'
Wt'!,om£\ _Il dw { iU'.l.
1 hl'~ H'~,Hhllllt~)Jl(l~ o~ (nRIr,h (hih't tB I mr~IW~\~l
TNr~' fl.ur,u tIlt 11.\\ IWen.1Pi)fUl\tl'(f t~, tilt\' pnt."wH\ (II ( hll~f C.'lllf'X~l~llPll~, mu'l.tht~ .11)pt'lUd{'fJ t ~rh: 1\\ :h,lt th!"t nm\r Pit', ~~~
~t l-UI" dud \Hll h,IH' J\,< Nl·.~ (Inp,.18t'fJ tht' ~N~"ll (', nt jUklJll\· ht~ wt"llmnrd b .,11 o,ltt;UI),lnh, \",110 h.wl~~.n ~lw l.:it\t JtH\
r
('c.lhm·l. ,1 \\C'1t knn\Hl t'x (\ ntun pli\yHOI' tilt' '\h(w~, ~\(, t)w ""('M~ nU""'~('d tilt, 'W~lld'~ .1!Jd m.. p!"pmQ'nt t.l lfw E~t,~~ll~,!l
1\1 T~am ('(1,U h tl\1I11'"
--...--------------------_._---_.----~~~-,.-,---=-~,
. "...=-.,..",..,--.-;
THE EVERTON FOOT'8AlL CLUB COI't'U'ANY LIMITED
CHAIRMAN'S REPORT continued
_ _ _ _ _ _ _ _ _ _ _ _ _ _" " ' ' -
()ur ~\.. l'r~l~£' l('J~WP alti'miluu ~ dJ,t,lln f(~Hp( wei th... jilt\" ~
dl!t"PJhllnU1\t'nlg and,..ft." down to 2tJ pJ7N .=., 11 reducuon of
'"'
~1 "'('~~
(I
ImnnlC' nom our rnam joolh.lll a~tl\:I~lf'S Iell (nnn
i4.,Ji~ 1, ~ 1') to i·t.!lltt '\h6 due tf) our t omp,u.lt1H'IMJ... of
PHJAl(""\ III thtt ( up i CImlWllrlf)n~ 1h(\ lo'\~ on 'lootb:11l
,1(l'i ... lW't· mn("<\l\t~i Hom t4n'~/1 ~ J 13~t Y.~~U to LSJ6.rH)R
lwtort' tf,\n\!l'f h......-·~
Immm' 'mal uur tltlWI ~H W,ltir-li and (!onation~sht)wedi\
\\'t'h onw tnt n~",,~e frurn L lJI~'~ .olin IuL 1,79n.~7U
1h(\ort (~"pt'n(fltlnf·.m u.ln\jN tl"e_c.W,l~£~1')7~41 ['11 WhH h
oiht'l til(> H'~(\i\P 01 .t(;Oi\~mm providN.1 in l,l~t y('.u'!,
J(\'(lum~
In r)(,,-ord,lnc,'(l \\ fth uur prlH lH.l' or rt'(lmt \C,lr\. We.' htW(~
pm\-ldl~J II tufttwr tran"fl'f t('(' t'(\~'f\.(, UI L500,000 and th('
towllo\s r"lrrlNi to AllfU"1.1 I rt~~{,I'\'(,\ \."l~ £ 1U:.! ,99~ afterl~l\,
lh~ mlp!~\n1(6ntLttlOn ollhl' wff,mmpnd,lhon" withm the
T",~ lor Rt\~>t)rt \\ III t,'ke pl,)tt' O\'('t J period Ul Vt'lH~. The
Irrno\JJ oj ttw l(tnt (~\,lt CcoHdiso!l I.bt ~.'clf;m\ '....tl~ welcomed
bvourfans Ihe PnlH (lW(~W Mtl~II(-d with lh(~ ~Ur)port(irt.~ (()-
oper,ltmn dUringthe hornl' f~lnl{~, butW-cTl' ''fISK rrn(~J about
IIt(" plt( h IOV\l~lOn forth" 111~t game (){ lh(- ~(\l"'(lfl «Jut." rn,linl~<
to thl' f.~),.ull<'l~n{t' of our j',lJ\~ \ 'V(t tru~t lh,l~ (lV(,I)'Ot'<" will
p(al.'t\t~ rrstft\int <.luting ,h~ Ol'\t W")~OO"
DUling th~~ S('a~on W(" tlppornted' (':< Chlt-" Supt. Norman
f lautlJ!ld \i~ th1 J (Jub"'J ~JtNY r(Jl1("l.d~lOl, Mr.. flJnklamh"'-I'l~
one ()f thl~ m05t (l\prrwtlt. ed IloHu'" Offit. N\ In 1h~ Country
in 'hI' MeJ oj CrowdControf ,le OlI'Jor f(}otb~\H grounds HJ~
r{"~pnnf,iluhty IS to ('nSlIlt' that th~ tluh oprr.,tl'.1 ,'ull)'\\' uhu\
the f('qultf..lom{"r\t~ oi IJw Sl\tet~· Cer1i(l( ill~" c'Ind MlY other
I('H~sl~tiOn JH(~( tmggrwJI1d safNyIh.lt lJMV lw mtrodu~ l~ In
til{" IUlur{i,
()u,mg Ih(' r rO\C"·~(l~l~On W'C' WIII fontl null' to ,mpluve !In'
tl~ Jhlit~ and~l'f\"«('" III th(i (Iub, whiM ilT1plpnwnl:f\t~ !'unu~
cd dwTaylor R<"I>Ort rt!( ()mn\(,lld,lt,nll~.,
5
.
~_- .._O=~~.-~_=._..",...----,
8ullr-o't ROMf r),,\rldo{ b \\ lillI{' "",l!,nj 10 hf'.11(j~n .~~l\W ~
newPoll!e Room \\ 111.)(' t ~?Ot;~,m~ t8~i l~n",~';~wPl»~i1~~: ~f"c~',- ';:;;
II OtiC' 01' th(~ Itl.t\'l modt1 lf1 Il1lJw ( ounlry
Thr PA S~, . . tern \'iIU ht.· t.'),t()nl!<..-i eu tfw m[h,~k J,~ Jl.~,
ground
NI~·.\) t~r'lwrp,("nt "J tlt t (j~"i rnut(·~ an·l>t'mgprmtt!f'l~ l,ll~!,,~ '1
I,' I
lIi\t\lll,ltlon ofa nt"W,lul,nnMht flff> ~llarm t:,)'~.h~m
\Vt' w,1I eonnnue \Of'ltli nur On'~f)!ll~t luo~r,J~,mtt' ,~ ,) Hp'
Hr.-}(jt~ tOIIl-ts, mort' 111<1(1 tf'lJtJblin~ tht'a1.:m t tn~' \Jl{>ki! IR,' Ib >
19A.9190 h'Mn, lal "(tilr,,
\V~ ani r~(utbIShmR thebox h:}!ck,~· f()~JnRP Mut I';'d\ ~t!It)n
110 ,uJdltlonal mJt( l' day 'B(tlfl..tH~ld·l()ull.W to j>\1Nld OHf'
clll~mg f,l"iflll(~"
()n~~wmgdl't( ti~.,ion~ ()ntfnup r~~,\rdlnJ~ tht" Pt"'J'lll~~(\ IP--
development Of lhl~ P,l'''-lnd ~tJnd,
N EC,. our 'th" t sp-()n~ot, tonll nU(lIO ~~i\'(\ the ('Ilib dw~dul~
~UPPOr1, and w(' \\'(Il(-' d(~IJHhU'd to to-n JX\M U' I~\ zhf'llt
0lJ.lkcl'Oh4l11d promotmnal .Ktl\'Jty dunrm(Jur ;~'( t"nl \~~Itti~
dw Lu Ell'll.
fl.ir. Rill St:ott••tfmmllrChJlrm.,n fWI1l1qj'(J' 19~Hfl"~,n'(j
aftN J.2 ~t\lr~,,~ a Dirpnnr, \V(\ wl~h hH1~ ,\ (,11 to h.~ 'l~tn'f'
m(~"t, 6lnd ..m.' d('lI.~htl~d lhdt ht~ ct)uhnu('", (() ~1UN~d I'.·omt·
gamt'; Mr mu KN\"ill~h[ \\oi1t" \.(H);lll~d 10 th,' BOMd h) hi!
th£' \~lll'~ln(YA lmd Wt~ HU'ltlh.\t Iw ('nlOV"t hit, l(!nUll~ n! o!htf>
Iwould wish 10 p~.l~(,- on r~ old to}' de«p ,11}prCU,\tlnn n~
thl' hrlp ,\nd SllP~l()rt J h.1\'(' J(~ (lin'(! tr(}ln mN1'l1-wp, o! 'hp
80.ud ilnd clw (hi(l( Ex('(. Oh\~, lim Grl\(·Jlwuod••lnd ~WI.,tolh
f Jniltl~". W(" til h<'r1on u'm.l") (Untid<'rll ~bout our hUWI'
\V('wl~h Cohn H".~'(!Y. hi' 'StJH AUld p],)Yl'rs (l\'N)' ~lt( (~~ m
thl ~lM\01l1;1h{'ad.l~:( 0\,\11)" lru(' lV(~r1on \Upport('r HI\'t' IhtAIn
i
tlwlr {Omplt'll:" bJt:kll\g If\ lht"llr ("f1orts tn hrt"l~~ had., tn
(joodl~on PM}.. tht, ~(]n ('~r, ,mel lr()phl{'-(~ (Of \\hl( il w(~a'("\t~
hun tv')'"
PHIUf' CARTER
Ch.urrn..Ul
1ilh July 199tl
THE EVERTON FOOTBAll CLUB COMP,I\NY usurao
PROFIT AND LOSS ACCOUNT FOR THlf YEAll ENDED 31st AfAY 199D
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ .. Ilo .. _ _~__=""_r_oo_

No~~~ II.t!lO t{~:N

i, t
Income
tliltl1 rl~-elpt\ and tncomo from t~'at('tI (ootbafllng a('h\'ltlC~~ 4~~M4,) lllb 4,};: i ~ 'jlI
lrildlf\~ a~,fl otf:~« !"conn'- ',(,(~ ~~ ~H;, ,1" ',,,,;; ."'.14
~"-,-";~~:1;; - . -

5~~)29,.)71 f:i,::,(,m,a,i,

Expcndllurc
Cost of goods for 1(l~~)ll' IJ12n~11 ~j till ,j .,lfl 'i
St.lf( c:mt.. 10 ,l~20CJ/tH ;; l:lhH h9;;
Tr~1Inin8'1 travel, nl~'I, h and other expenses hiO,27!\ ~htl,!t~ ~
Ground eXIWn~(~ and m41intt"nMlt.(' );1:1<822 Jf]jl,J~J
Utihhc'i 3(18 134 Q ,~14Jm~
D~pr('{ 1atIon Z 12 Jl'123 '00,1 :U
Aud,tms' rernunerauon 6~OO(J t; a[m
Other (}J~r&l.tin~~ (tx~n~~~ 11.3,·105 '](,9,2 HI
~_.~HOIf'_"""""'~~-=- ~;~ - C·~l::~~.-;"''' ~.;,_; .... "

5,.6b4,3 Tt
~w"1'Y.:r~~4"',=,i1%l:l'...a,.::.
r.J..
~...,::;_"=
"4 f) 5
s.....' ~_w~~=
s v')
K;>'-

Balan(e before lr;ansr"\f fcc! 2('4~760 Jr;:l,l~ll

AdlJ.' Tr~nsf(\r fees rei. ch'lj)ble J,214,484 2.~ ';,. ~ ~'~:
Dtducl: TransfC'r fees, (~tC.1 payable f3n1 J 1,9(0) N p.fJq,,,j41J
~•.I.lOI"Jr..'~ ~~t"..r..:;--K~-=-~ -. ~'" _,,=".;~

OperaUng loss t232.656) f L8c"~,.1~fi'

Add: Inl('test ''L~elvable 41 f926 17~9{)6
Dedu(t~ InlNC'it p,lpbfe 11 t2&.8'3-Sl nt?.lm
....
..
~ ~ ...-:~ .. ~~.,,' , ...r.»1l'~~"~1'lr"I:7~_"""~

Loss on ordinary ilCllvllles before t.\Xdtton t216wSbSJ (1plJ.ft'~<Jt;tJl

TtJ)ll1fiOn re ordinary <1Ctl\'ltICS 12 ijJ,r.'J
~""'..-l~C~~ ~.:=:y.... -a-." L2~:=.=--- ':l~_"'rl!:W/~"~'"

Loss on ordln.1ry activities art~r tax3-lloo t2 t ";,st,:i) i 1.. 7114..21;')

Add: D()natlon~ ~(eiVclble 13 113,513 ~[M,HJ4

T'~ln~f()r (rom Trc1n!lfN Ft~s Re~etV~ 9 50().OOO ~.,,1.S0JJ{JO
l)t'do[l' Tr,'lns(cr to Tr.'ln~f(lr FN.!S Reserve 9 t500.000) (5at)~OOm
'""";~~~......-.:: .....
~.".~,~:;..~;...~

Ioss (ransferred to reserves (1989~ Profit) 002,992) b9.9&7

~'~~~"":'~aQlilJ~! ~.~"""'~"~I

1
 ---'.....-----------------_.._---------....---------..-="''"''"=~
THE EVERTON fOOTBALL cius COMPANY UhilTED
BALAf\N::E SHEET AS Ar 31st MAl' 1990

NCJt~~ l 'J9t) Il~Nj

t: L .i i:
Fixed Assets
Tangible ~\SE'tS l 4,.600,8'12 4))14 ol~:4

Current As~tts
StiXk~ 3 56# 190 J,~1.:2 ..."
l)('blors 4 li65,J61 s t~(Jlj.2f~J
Ci'lSh ell bank and In hand 104,31..1 ·1. JihfJ
I Io"'>~:l'l:, 1\:..."':"- .~ __ .'-::. ,
~#o~~

1/.025.. B67 2.) I_~fj. t 14

Creditors: ..'mounts Calling due within one yC'~u . s 1,509,,675
~~
2A~tl"" 14
'\Ilc;:II';l:;r..... ~ ~)7~~:=":'''::;
~~*"'~.

Net Currcnlltabilitil~ (483.608l (Bh/HW

"'~'-"'I. .·lAl::..IrlI::tr""J-""~C" (~ "'l..~ - . ' ~ ~ 'L •

Total Ass(!t~ less Curr~nl U41billli~~ ~t31f,064 ~SAi!t2 V. ~

t:1cditors; amounts ialUoK dueilHer more

thimone year iJ,7 fJ5,,450} ';'3.bU8l
't.I~~ .'; u<:; ... :::v~~ c ~-ll.~ I~,, __ =M=~ -.a >- ~_

Net Assets 4,;lO\~b1~ 4..•nN~HJ6

., ..... II.~~:.n'JliCllL.J.~ (.=-:r: ':..=.._" t~. _-_ ~- .2 R';:' ~

R~pl(;$(!1lt ml)

C,pitClI and R~CI"\'C5

Called up shi1r~ capnal 8 2~500 ;;LSO{g
t, I Revaluatlon re~ervc 9 2,916,.341 1., ~j r h,.J41
Otherreserves q SOO~OOO ~rfj.OrW
Pro{il.,nd loss account 9 862,773 !}[i.$)'6C;
~:~~~ ~:aL\~ /·~~-..:..:=E.t-.:t'~\.I.C·;"&IL.t::II

4_301.bl·' 4A04~b(J(}
~~"4,..::no ....... ~-".~-.SoC'''''~~<;

COMPANlES HOUSE .
02NOV t9?O
-------------_.. _----------,------....,.."".--~ . .".,.,.".,...~~

THE EVERTON FOOTBAl.L Cl.UD COMPANY LIMITED

rue YEAR ENDED n« AIAY 1990
I
STATEMENT OFTHE SOURCEA NO APPLICATION OF FUNDS FOR

Source of funds
!
lQ90
L !
"'~P:1
J
I
Fum/!'! 8rnNJtNl (film c1Mr41tlO,ll~~
ProiltJ'lL.(w,} 00 mchoi\l)" aC'i1villC:S bdnr(~ taxauon alb,,5h5~ 1/1 ; ;'f" ~J l ,:J

AOju'UJU'tH I'fir J(fm, not U$m~ fund~...-

Orprr<"l.ltton 111 l~H 1b't;: j ) II ~
"::I:i;'"L- .-.,r<;::,.(" ~--..:-"'

t93A4J' k t. ~~~:h ~H "l.,

Funds (rom fJlhe ~i ·Ul, ',),

J
[

Doot1l!()o" 1{'('t:I~Jhlp 11 t5r.3 UN, ~:M

S"lcoi fix(,,<13S-;t~l~ 2.1,100 r;;,~ ~·u
(Jrant\(corn The f(»'ltIMtI (;ft.)ufid~ ImpHJ"{'m~nts'rlust 62.8(}] 8, ;14
••
E!"".~~0:701iC.A~-,,_'l:.~'ft! ·,':~,r ).-. .- . -
Tot.,l ronds (rc>IU all sources 104.324 u. t;m~ t~t'(3 ;
Application01 funds
Purchase offlxNl assets Jt:n~qb4 2:~~(jl·'
R~pi1ymcnf Of loanv 64/360 fm,ltjO
'Ta~tjon Ihlld .14 1,-144
&.-~~.~-*Y~':f
,278,]24 ___.~J,#'~.:'IIIl~r~-r-:~
.~~N.;.W
-.~.-.... ~ • • 1~II;JJ ., ,-111 u -t, 7~s.. J: ~

(174,000> tl/J:'),17Jb
Moyernent in \Vorkins C,l pit" I
Dt'(tC'tl$('JtI ncrei\~{'J In st()('k'S 1J,(!8 1", (15~S~41
O~( rNSttJ(innl'JsC") jndcb'OlS ~~ \94.~ t~1 tJJ'-t,m~n~
!o"CaS(lJtdl~( (Ca~, in ct"l1(J,tOrs t9J9,257} f~ l;ln .1~"O
... ..-...~~_
~r.-.ta~~
,,08_748 ~·.~~p.n.c:~-.7.~f·,
,fo!l f~~ " : JIJ
--:r-~Vl':!lllJlr'l;"~.7t'-~ :"~lIIICfti1 L ~t'~~~'~ W.,1,·'; ;-..:-_...::.

Increase In net liquid funds <1989: decrease) 9·t148 ~ J/; _ n" ~~(jm
~~~ ........ .- , '- -~:L... ',:- ,
C()mplj~/t)g ;·ncf(t.15(,)s((d("n"'M~~) m:...•
DI1r\k balant.es !~2 ..'95() ~ Iv ~ i-~. qaO;'
Ct1~h in hand 1~7q'l J,tW[~

94.748
_.. . . . . . . . - --.. . . . . . . . . _ _.. . . . """"'--
~ '--_,..,..,__.-_---'""""1""".. . . . . . . ;= ... , ... ~~-,,,--'"~....,...,

THE EVERTON FOOTBALL CLUB CO,\iPANY lI,\1ITED

NOTES 1'0 THE A ceoUNTS FOR TfJE YEAR ENDED 37st AfAY 1990 ,... ... ~ ..

1. Accounting Basts and Pollcles

lh(~l"~KtOIJnt~ have been pf~lr('{j on du~ hi,tOCi(.ll ~,,~t 1)J.~is oi',;')(("OUNIOg asmodlf.cd W In( IlJd("lvl!iu.l~{071~ fittiwt ~'JiJ ~
pro~)(\rt~(~" .1 ndin d( fordllOt(\ with tK(()Unting pi)( je. f~\ fanSI stem \\'1 ththo~ .tdop1ed PI~' ~ou .. fj." and ~f'1 OHlin thl} l~)~t, A~jng
noW,- whl'H~ appmprailll('

2. T~ngible FlxedAssets JllMUJod

'''(OJ~t1'e~ ~qUlpmt\3)1 V(lhlt !('~ lH'!'~'
~--,l:\~!:M~~_. ';.'=~ .... ~'_$4.."'~~ ..

( t: L J
CO\lorV.duaWHl
At 1~I Jun(lo 1909 4A26,519 64'~',~~ 197"b04 5~271(,n~"~
.hddltlon" 9,907 58,,111 125~ 3·1b 19J/)64
Gt~tl1t~ UJ2.891) f6.!.,893A
Di,po~11s f46.05J~ t·1bJll.lj
J~~=::-" __-"'C.l~ )jIojf..,
"''''~''''''';'_'~~~-..:Jirlol .#~.~""'~~;"..J. ;:;:~ ,- =-=.::=e:::::'': _T. -:. '-;:1"'- r ~

At J1~tMay 1990 &1~4 36f41.b 043,51')U 276.6 Ql

51 )56l~pt-j
~k'4-".n;~ .. I1:'~~ ::;a9!ll".Mr;:!:Ih".Ir~"'4'.... "'QII ~.t....-.~~..u~..,.~ ~._~~.l.~iL...-=-A

Cost 406,42b ()·B.SSO 276;897 1,,'nb~87.!

Villu4luon m Apnl 1987 '1~O30,OOO 4 r.30J10{)
M
~"'~"'.;';;~ -.. . IIr~~_.-"I~ ~ .....~~ , --=---"1< -u t ':!ll'" _ "r

~1,4)614?& 64~t550 276897 5" 1$u"B73

~~ . . .~AtIb ....~';...::J~.. ~l"'... lIO: L..~.Jd~ .... ~n ;'_~-~li...e:~-r=.Tr:;,l.·_ • ~ ~

Depreciation
At I 5t lune t 989 )8#,184 70,247 457~b31
Provided dunngVl'ar b4,()41 57,082 11)",123
On drsposi11s 1.22,753) Ul~~S ,'j
~,,~""~'y."""'~.M. .• I~;'"",,~~'t:~, ,,,~~'-.a"_~.crb"~ t.:,-n:tI a, =-. ~~~~ .....

Al :il~lMay 1990 ~rs 1~425 lO<-!,5il, 55b~OOf

1"~:-PI.,:.t.r ... MI-.~ L,al':;"':;'~~~~ ~-::'~'6'~'~T.I' ~"_~~.'.a.:.!;.':I'a~;e

Net book value

At 11st i\{tl\' 1(J90 4,436A:Z6 t92.~ 125 1it:l:ll '1,800,a1,l
... 'b................;;;.....-:... ,""' ........_......~:w..~ ~A . . . . . .~, ~~~~~~

At 31~tM~y 1989 ~14·116.S 19 260,346 1271 :157 4,,814.224

1"C1-":'CJO.......'gl:·ft..~~·.tr 11;","'1lIt.rll~t....--... ~~ ~'(4;'~~~l',i'o:;'::!:.
... ~'CT -=~':"W-~~::-lIlI.'#-.._::Q

to
 II thp tll",,'hnld proPNtlt''\ h.lt§ not lWelH n~\'ah~('d aCI~ld,u~-l. ~'m(l ~\'m~} the; "'ll.,mtrlJ ~I.. ;.;.t'~(~ \ ,;,) , i'~:( ':\'
t\mmmt~ on (til' h~f,l~ JHt'HuH~I~ (,pPi~r1~lIflmg
S.
I-

Co',t • f,\,F~ '·"·T " r

;\~!~~n 'HIlt<' d(:prt"t lIlli, m ~ H .~ ~ .' I;, ,', -a

H I~ ttl(' rtuh\ pt,~;, ~ ~I:~ UlJJtl!,lln dw..(1IU(~ ~llld (·"tend d1t~ htt i.I J1~ JIWIlf'lt!(J~h) fj'~~~~ll,~~ f'~prl1igj'Wi'l ~~:;,q ,,~~, ) ~~ ,,~ 'j' J,~'
J

,md It J ft'\ tllU(l Ifw JUOPNllt'~ ~{'t)', loot ~'f'Jr~ Mid LHJIU~l tlw hfitj~ \ .IIUf<~ ilf ~ nrdingh I tn mH"~~~~\ht h ¥~;,u,' r ~1-;:11" I ':l~'" ,':
I~ nut P,fU\ l~'(-d ,,~\ fr(l(,~htt~t'II):t )JJ\~Jt'l'~~I'» lIll~ duet !~ U~ iUe()~ tllf' f ~llIrmml 1""the,-~~,I' t If 4'.1 mw PHIJ""'rtl:~'~ f~)Jl ~(n(I{:1 t,\~ ~~} ~~q1 t

H'~ldt~i\t vtdUID f'\f ('Nh \hi'lt h~ ~ok value, lUld til th(:, (.''1.1' ot ottwv PWI')(\'lliM: lh~1t llip l"u m Ul'+ nh fill \\.., '~l;M h.,1 iJ~ '<ll,\.l"~ 'iii ,~1
1

l >t'IUf'(hl!Um on nthn t.....t d a~(()t~ IM~ been ( ~tfUdl1tt'od J~ 25l : tm !lw bi'w~k \'J!uP
1
j

J. StO{k~
~liX J.,,,, MI' \'J{uNI <1~ tht' 10\\'" (il t u\t .lmI oN .w"l~~itbl(·"4llufl and (Ump:~~l' ttw 1(~IIfJ!.'" "I~'1
~!-~li~~ »r ,»
: l
R~~jt(l\hm{'lW" (\11\1 q~t~H l~W.. (~4 .;l("
,~t~mlH.'n.mt. t l ~)t(N, >.~ 1.,'n "

4. D~btors
Tr~idf' dt'hlOf\ ~S t) J. ibfJ ; .'i1 ~ 'f ~ill
OtltN dt'hlor.... lrH 4~U UH~#i,,"J4

J)f('(M~'nH'~nt\ .1fUf \1( ( ru~'t J!Ih.. 'fltP thl)h~)?4 ,,,,~ ..'t'J...1

5~ Creditors; .lr~~onts (&illlng doe '\ ilhlnone ) ~M

rr'ld(' c.r("dltor~ h4fl.i()' 1,. ~:Il ./1 Vii
SO( 1&11 st~( r.JUt)- l)nd ()thN t,l\t~'t 1 ]],.~h£ 14":. ":'~I'j
Peoston "( twm~ p:rO)lUmc, ~)~414 ;-, ',;;.,
(}lhN n('dlto,~ ~;,8f; HI '~,.\;(J
1'(nU~lls and df'-ft'IlNf liK(ln1(' l'J49}Jbit J4~1, (j, I

(orf~Ortltiont.l'(.
B41nk fo,\o (St'>«' noro 61 5J.6()6 D4" ,r~n
t.oan..from br(\Wl'f'r f~(,i' f\ntr- 4'; U,,·~50 (~H ~tA

. ~ : a 11# 11'~ ~'r- 'l' .' __.. ,-

6.. Balnk loan

I" ~ f "'hngdue wnhrn UftP 'J(\lt U4!1 ft.4~~
Ih1 F'~UlOH (JUt' MtN mort~ than OI~(\ ~ (lM and ,..'thm hv(' \l\J'~: 1~80H

Aggr'{~~~'e "moonls ,'ill 806 1 W.lh8

'flw h~tnk Ju.m r. U'IH.,' t,hlt.:',J tn~{'H"~N \\f i t h It1 tNf~~t, In ~q\Jlll mOlHhl ~ 1mMlrnerl!~ ofL7J)'\(~~ .1Od .~;~ ~;;;;J~l~~ ~I fj~=;;d\;- ;;4;;~~~· •
.(m (hl.' tlub\ ttt'<'hoid pror~:~rtJ('~ .ll C(/o<flson f>.uk and (s(!lll'fwhf

11
 ~t.~,"
O'fU·; ;}

7. loans from BrCWN)' ! !.

ttl)f'.,lIinn doewulun iHl(l ,,"PJr n~r"tj IJ I~ • 1

(0) L'llhnndWl tlft~lr mgff, then00(; ,"'PM.

Rt'lklyabll W rtlun h..,(,yt.\(lh 1.)"..1'11) l;~)f"~'~
R('payabll'' aftl'r IIV(\ \'('M\ l.HW) ~_ Ci':ll~jl

Fj ...VJO or? (:;;,;4

AgRrp~,lll' iltlmUnl4i .n .(I~}j) ,,~ ~,<rl' :,l~

1\·.0 loans arl' fn( hnled il~)(i"''\" one bNn~t rL'lh,,\~ble 111 hl\If·~\l.·Mh" .mtalnwnlt, 01 !4S~) ttf\tl~ 1iJq2 Mt(II:.f'J~m}; WlfK~~! ,,",
5.0~ perannum, afi(llh~oth(\r hl"~n~ rt'payabl(f' io h~lU..\I(\M(Y iIHI,llm('nh of Ll,.!.'iOOunhI19'·H, dod I~J'wl.~ m~' o'.':,~ .;~ ~/\
per annum
o. C&lH~1 Up Share Capital
.A.ulhorM"f1' 2 aSOO £ 1 stoc], Unit, .!,~\~'U .' 'h'

? Rcscn'cs
R~\'JftMtlO:t 1{11t~t\'L"
1l,11,UKC' ,)1 hl JUf1l' 19lJO 2,91l), ~41 ,.! I.llt~" ,~4:
AdJu\lnwnt on H~\'llhJo1110n of pr~,~~rtl("
-,,- T"l A"""':~~ -t; ~ -r--

BtllMlte or1ht ",\.1~ 1tNt} 2,910, i41 2,.'H-,. l4T

c...~ ft';)O' -_'.,.P.zf/" "'-.~ "";;1O,';l!:1 "IIl' .... ~( ~::=:'" •• c

1ftln:..iN ip~_~ f(l~('l\,p

B~ll~m(e ~lt l!tt June 1CHit' .SO<MXlCl s. :Hnj,iffJ
Tr.ln"l'rN.'d to profit and 1m\. r ,,~wnr tIjOO,()Om tl }~o.OOql
1 r.\n!-fc(l~d from profit and lo~s ,In ount In re>p<'c! of future
eXJ.wlldltutl, .luthori~('d b) the dlrt~:lOl.'i SOC.f)(){) ~on,wm
)o,..V._~'-:'''!';''''~Y:JII::JilI':::'K. '\....,":S"":'r v---:......_ . _ : . . : : . -

0411t"tll((· .~t 11 \t '''''1~lY 1q~lO 500J-XI(1 r,WtOU{)

c;."ll.-=..¥&'llI".:JII'-J-~lJ
"~';"--"""~-
.~ ~

1'roi,: iJnd I os~·\,,- {:()Onl

B"limu' at 1st lune 1~89 965.?61 "11 ~MJt'UJ
Loss im the )"CM (1989~ P,o~iu OO.2,,(92) 6~J}/h?
i _......-:::: ~-~:.::t.-.c:.J.",...IIJ~ ~~~J"'~.~;!: "~':-::J , •.\.v c-

BalMlu~ elt 31 ~~ fl.1ay 1mm 88.!.77J '~mt;cJ·'f-,1

~. t.."".- ... ,.J'\-wlI:""=_~ q ~r~ .. ~ ~ ~ -:~=,..:- ':'L =
••

10. Partlculars of Employees

1 hl~ average wl't"kly number ofernplovee-. dur-loU the ,'\.\~r W&l~ 115, follow,:·-
PlaYing/ (fllining and rn,H1Jg()ment 47 48
t\1i'1inteniint c," and ,ldmll)j-;1rallo:l ' Ji) JO
C..ltt1't(ng lind sales 11 .11
...:;&_~_ ", ':JII_ ~-_ _

107 11[)
":'l,l'"""~"#.,rL.~1':::Jl.rJI: ":;-'-~"p"ll! ....... p..,,,l-."=, -.~

The aggu'&.lte p~lrl()l1 to\t~ of lh~ above p{'r~tln~ were 11~ foll()w~.
\\1iJg(t~ and hl1ilfl(~ ;l.b57.. 158 l~ r.CJ4 eJ4·i
S<xlal ~'(un~' (ost~ 2.U t6 ' 2 1
11)7 '.14 p

OthN' ,~n!iion (O~IS 31v"OJ1

1....~.t·'1l::Jl:"~~'I';~cr -:;
J8'};]:tO
~.·~Jt-~ .!l.~h. • _~

J.209,03? 3" 160,f,€l?

t'...'ll'"~_.~~~ll.J'.;:=:' ~"'(:a~~:11'_--=-"'~_ .,
()t~l~tJX"nsioo (Oftt/) c; OIl\PtIU' fonlribulll)nS made bv tht,lCompnnv 10resJX~(t of t1w' nliljorltyof jl'l !'>Nnlllr(mt ('mplo~~'{.
to J>eosion S(h<II"~S Ind('p(\tld('ntl~) 1\dmini~t('(~f by the fO<HbJlllt!i1guc Lirnued, !OB~tlwr with tOlllrrhulf<J:iS nl,).«J(~ to
Irldl~ .dUf\~ l)(~n~jon tOnlr.KC) Ufh.icf dKn~t"~IlI~ wHh cNt.lin t'tllf)toy('(·s, 1\11 ~nsfor~ alrMt~r'f1l(lnt'i t)t~ dl,lfm:"('] ((Irlrnbmlt'n
"tht'm(~.

12
 llU' number ni ('mplo~T(j~ Whmf' nnulWIWnl~ ('Xl l,t'i\t~d ~,m,nqu ~H "hq~ '~'\H, t''t!~ ~;t~f,,',~g pn;' I ' ,':1 ( ! o1r \.'," , ',- "
~'W
.t •
, '

,1'- fullow c,' , .

n("Jh\\'(~n L10,J1!11 ,uld 1 E\,.frtW

1. ElJlOj ,md l.4UJ~UO
lAUJ:Ol and JA~,OdU
1:.45, mn imd!!i nono
1'..litUHII \\ntl1."l):>,Wlrt
!. S~"O(l i and LbO,tlnO
i..bt;,.mn ~lnd 1:70,000
£?O,.()t)l lod L75,OOU ,7
illlUJHl ,~"d .H\5.0Un
l.t\Jtr,~Jt~l ami HHJUnO
t,0U,.WH ,Hl(! LtJ.t'i,,(tfitl
£{)'j~o,n \'l1\d l. tnO,t)i)lt
l, 1oo.om l1ncf £ 101.00U
j, 1nS~nO' and t 110 nou
j, f lOJI/ i1 and 1.11 ~"mltl
L 115J)'. J unl) J.llfi,l~Ot'I
! t .?O.t i't11 ,md 11 ¢~ fi.W ~U
L 1 U\.ot~f ilnd L ll5,nOft
£14fj,P;1l and i l,riU.m~{l
1. 1(,r; UH1 tHld .UUO,OOO

\ l '.-.

11H.~ dl!t.~ tnr~ t(~( 0\";'(1 fUl Nlluiorra'ol') trom thf 1 (mllf)(m~\ durlnp, Ih~ ~(·dr.
~; A'~tCI'~t fl ,l )",lhle 1 1
0" b,lflf...l(h'O~ lmd 'O'tt'rdr~~tt" ~"4.4·m WI 1-~:":1
Orj :o ihor kMn~ l . 'N~ IAc,1

12. Tilx.1Hon
TftXdhon ton~I~II; 01 lhe fonow~n~; ~""
r...:O!por,ltlOn tJ1X "if( lhl ' ((l~jlhll\ plOhl~ (If tll(1 "CM t'dkJJlt~'(t'd l\( .i ~~'"
AdjusllUr(lt, w (,~~llJ('r ¥tl(lI~

In \lW\\, ,,( Ih(t nmtfflUlf1~t U~(\ of tilt' trCf~huld fll~)PN11~'; r)(lI;;U\ l~lO!l J~ (Onl,;dN('d t>A~ll'" Itl 'P"TX'H ~';i liw Jlnh"\tl,~l ,'it',
il,
t.)x fl,lhJltttJ \\hlt h ,m~:ht MI~{' Ul.h.., t'VNlt of tfw dlSP(1~\ll ot the pmpt~'lje" lilt" Jmmmt~ il,t whu h th..l ) <-w~ JUt !udc~l III
t1W~141f counts, ,tt1d sn the opinion ,)t liw dm'!tt!)1i l~ lS IOIJlhKtit .able and ofno usefu I purpo~{l to "1U mpt tu quan{it"V II l

13. Donatlons R(lcclvllhlc

f)Orldllom IN(\IVllhf<,l (mnprt,\(' Iln'Hnmh IN ('Iv.abl(~ from th\' vanouv (\,f1tton d\'vdnpnwnt ,Wlt)\ .iUlOfl'l. (('{flil pd In
p),r)(IO,p'f rpl.ltin~ IhNt'to,

14. FUlure C~I)ilill Expenditure

Ctlptt,\1 (.:\f){I"dllUi~ (f>nfrarted tor but "01 pUJVHi(l{t for rn th('\(1 tI<:c.ounl.,. nmcunted to NH \1'
t'urthrr (api~a~ ~)(~W/ldllOll' duthoU~t"(1 bY' t!w dlWt!t':'l\ onwlnrh mdt.'(s t)lid nOI bt'(lf:' pturd
pflor lt~ 'h~ Bl~'.1iKC 5h.l~(\1 dt'At(l amounted fo I 41J,1:;~ ",I
II'Olr ()tltfl ~VOrrOft~l()1Hl:MEMIHKS 01 1ft[ ~VUl'O~ roorsxu (1.lJ8 CO.\IPANY UMlfltJ
\\'~~I'(l.ud.I....J dl(llJ((I':1~~I~t(<f~~lIfi4'lr.~#'.)' to'! 'It It f:;Ii.m~ ~'l'II!'tlAl.. l.h:;" \~\I(M:;h
lr:lfJt(rG~m\C:iJ llw¥.~n~:,>" ;:M~lll'1u.\iIIj~ll... , .. ,~~~,!, ,~ .. ,..'
,.iltlf'f.(~!f1II-W~"'dft.h'~~'lln' l,tM.." 1qLrll1l"4J'\~ d.t" .. ~.11>al'-:\' tl~:11:("I:j'~'~N:}I.~I"l'q:f.i\fl:<'i:';I~·.J~tj,
~""'~1 f'iI'~f,!'l:f ()'I"!M I~"'h" ,,.1 JU\'(' .~:-;) ~"''ftt''ft i1h1",l,' 'J'~ \::¥.~,7tbnt'l '*(t~"tl,l" t.QlIi'),1f~~'''t ~ 1\:Qll
'U)( ,Il(~ l1t W.llR,~ ('0 t f:.t7;'f .£11"\\'~.:tl'J::.f{m, 61.:~...'''~''''·.)'' ~ :'!\11\n i tN~

13
!!!!i!!!!~_-_IMl_- ..z-r:s IUI_m."__Rl " __-_-__ 1III!

THE EVERTON fOOTBAll CLUB CO.\~PANY lIM1TED

----------------..
A41NUTES OF THE 110th ANNUAL CENERA L"'tEETING
_-------~-----_._........,,-""-"" . _--=

rur. 1~(j,h ANNUAL GENERAL MEETING OF THE DIRH:rOR$1 RffJORT ·,,~n A(~ Ol "~'i ~
['-ERTON fOOTOAll CLUB CO. 1.,10., UElf.) AT It, \~\h 41}VPt·d Ih;Hth(l (.)!n'j 1n~~)" ;md AIJ(htfJ1~ h:qlf\th .l~~
G\'~Oi)ISON IlARK, t IVERPOOt ON THURSDAY, 1,th tIn Ulllt{'d, ..houtd Ii(·t~l~(~nd"~ ((',Id T~WH~Wt·JIJnl.~(I'.tl~(;!i~tn'
AUGUST, 1989 AT1.00 p.m, on th(' Au.ounh· ·,tr 1 H. \V. , •• I~t ~'Jfm"li¥ (HnJ)ff",,{i~,J t'h~\
adoption ~)f tht' Hrr)(~rt~ 111 Jd A~ t. ou nl\.- .M t J }1 !»" .~~ ~ "li
r;fl'l~'lt Me~(,~!\ P D. (',:utN Htl ,fUI ( "'li". r H \\', ~(nttl ~V{ onded .,1Od lhi· pUJfSo,.11 \'\.1'" tiff Cl~d, "'(l.l~~'f.ll1m',~i\'
A.\\ \''.lk'I\\'I,.,ltL,1\ \\ T~lmhntll)(jo. H· fJltdwrIDifi:~rHr\),
L Gwt'r.....'nod ~~n f,·t~m i. J, C, l fll~\'C:Y 1'\/~w.1~:cr) and P. U. OIVIOfN{)
lJtiWh.'c 'f(IIl~{~\()fUmH Nt ~~f'f'J lfen\ Ior ,,\ t. o. J h)H~llmr with Mr, K, M 1,ltTJ1JO prm)l);l,,<:i lh4!( (W t~.'ildt'fld '·hou~!l fN'
1 ]1\ Slll( l.hhldN'"- pillet Mr. (" nl';.)Ul(~ M'condNi Mid Ihl(' P1~ lr~,n~.ll V'.,t"l( iff, ~"d
t;

unarumouslv.
"lloluHI£.'"
~\~-.~{.. nAn
\\N,)

ft.1r.. 1. ~P(~f.
rt·umlt·(f 'rom
~{·\\Hin. D, i\"
~Ir John M(J()r~"
MIlt'.h. P L PJrl"t'
C,O" 'r
and i"J>P()JN1l..~ENT ()r -t\l~nJTOR~
Mr f). H Plldwrp'wpul.('d th.ltM(~,..! ., RUI~4~r,) Ihn",IIT>~ 1.,
Co.. ~hould bt' .1"·~~ll)t'K)i!1fl"tf flsAudllor~ tt'lrdw ~w)U1n~ vein
~tnffT f()SVFNINC; llU ,)\1l£'TiNG .111d UlI'\)( H'nluner.HlOn btl I('it for tht [)1f~tOfl:> !() d{'t Id{'
l

It \~ .1\ tlIo;U"i"d Ili-oH tlw .~(;tn t \ '" nnV('nm~~~\p M('(·tP'l;t ,.hnuld l'orlf. G, P, O\\l~n ~Itondl~d ~'Hld thr' propt)<"ll \"••H t tW~t.~1
ht'· t~,~en ae; rt>Jcl, UlljlnUnou,fy.

ArJ.MhSION OF 11 U- PRfSS E:l r:CTION ()I' DHHCTnR~

It Wtl\ ~lf.rN~d dut nwml)(\r\ of dw Pfl-!-S a\f('ndai)(, l'
In
~hould beperlmtt('(\ to 1{)!llllIH In tli:~mdMH (' thmugfltRIl th(\
nw~tlnR,
~\INUTF.~
II W,l~ t'l~'l'('d U16\l the!\iinul('!l Ollfw 109th Annu"l Gt\nl\rid
-'~N't'llr.~ 41~ <- I tC:UIMN', ~lv1ulc.J bt." t,'~l~n ~\'l read. Mr, f .lon(~'i
PWlIowd tllllI Mimllt·~ h~ ...pprov('d t.md o;lgn(~~ ,1'\.') corrptt
r("( ord Ntt R4 E, [), tdwi),td~~t~(f)nd(,() .llld ch(~ propi)~)I" i'"
carliNI lJnMllmou~ly.
CfIAIR~,s1ANCS RtfiORT
leWlh ,1H'.('t'(llhal Ihr (h.llrnMIJ~SRt'pnrt ~houlcll>l· Wkf'O
i'~ «4J<J ;\i" C.ut~r rt·f~rrc'd to ft(lrn~ ~ubs(~q llt~nr 10 tlwr('JxH1
1t'ltlllllH to pl,l}'('" SIUIU" i]n(J dll' ('UN1 of theInll'tlm Rt'port
of loed JO' fi,.'p T~l\'lor mtu tht~ J II IhbmoUfth OJ!lMh~r W'! thi'
hlJ~lt Il~' ~,( (')OOdj:-'-:H'c f\uk~ whi( h wnultf l}(l redu(co from
501 059 tu 4,t889 a~ £1 nHl\l"(~U~nn.), ' St'i (,mdN! by ,~'t ~,p{\U (~k"
Mr. A \V. \V~t()"\'{)Cth "\Il~ JJlviR'ti to li\hr',hi'Ch.m to~ thl\
uem and Iln(\!pUIK(~( that M('~sr~, P l) C.lrtClJ'l H \.\:" StHU
and K M.T.:t(Y~,li'n w~n; lhr'l('t1tlt~~l L) It(~(Wt~. All thrN~ \\ ~"nt
('hgibl~ mlti ~l\{.'~JOg r(~-t.. t(\t.1l(m" NOIiUlMllO-':\ rN ('1\'(l('j ~n
n\~pN'l oj' G H. L llifeh ;uul P.I. I).my h.ld beonwnhdrawn
ThenteNlflt\ unanlmj)u,l~' .1Are~'1 ~o.) ~lng'(J' f"fUJ)fH,ll r(\,
vi [.( t inS tilt" tflr("(t u't I rinft Om\flor\ lor it IurdWll Yf..'J r tNTJl
Mr. VYtltNw()rth th~lil furm;}U~' Proll{)~('{j thlH Mr-~~.r.., J'. ()
C.1r'f.'r T. J 1,\\\~/.~,ot!and 1',h1.. T.l1111l1l1x\('!t'(t('(la1l0m,"(\w\
M
for "'t fmth\I'" 1 ~(I,Wj Mr A, G" H~r\t \,'(ondt,,(1 tU':J the
propus.\( wa, l.1.triP.d unil!liJ1lousl~ - Mr, 1_. A \V_ xnu
tIHm~\"'d (I\('M()C;k.h(jldN~ on lX'h"lft\fhh CElt.·r» c'\.\r Tllmlm
';lUti hifllsdt,
VOlf: OF lti,\NK"-
TtH~m(~(itingt lowdwuhfl \OR' of thlll',,"'1 fu Ih,' Ouedol!o,
;\~anJSNlll'nt i1rid St.'df, P'Op(~M'{t h~' ~ir. N.. f).lmly and

14