May 17, 1892
The annual meeting of the members of the Everton Football Club was held last evening in the Presbyterian School-Royal Street, Everton valley. Mr. George Mahon presiding. There was a large attendance of members.
The minutes for the previous meetings having been read and confirmed, the Secretary (Mr. Molyneux, in addressing the meeting, and it was a matter I deep regret that the club had not been so successful during the past season as the season before that. They must bear in mind that the previous season the club was at the top of the tree and when such a position was attained the only stay there or get lower down.
He though however, the team had not been so unsuccessful as would appear altogether at the first glance at the results, when they bore in mind the number of accidents they had during the season, especially with the first team. He went on to point out the details the adverse circumstances which had led to their defeats on various occasions. At all events they might congratulate themselves upon the fact that the Combination team had done excellently. (Applause)
The balance –sheets, the details of which have already appeared in the Mercury, showed a credit balance of £877 2s, which, including the sum of £545 0s, 9d, make a total of £1420 2.s 9d – the Chairman, in moving the adoption of the balance sheet said that they had a most eventful season, and one which he hoped would not occur again during the life history of the Everton Football Club. (Hear, Hear).
During the last six months changes of an alarming character had been made, and yet they livened through it all. He next went through the various phases of the club’s history during the past season, and their action in relation to Mr. Houlding and the various negotiations which they had with him, which, he said, any reasonable men should have accepted. (Hear, hear).
All the threats of liabilities which were made to members of the club had only resulted in 35 resignations out of a total membership of 480 or 490. (Applause).
The motion having been seconded, various questions were asked as to the accounts and answered by the chairman, after which it was unanimously carried.
The Chairman then moved that the committee be instructed as the express moment to proceed with the formation of this club into a Limited liability company on the reset forth in a circular distributed amongst members in which it was proposed that they members, in which it was proposed that there should be 2,500 ordinary shares at £1 and 100 £10 mortgage debenture bonds. Ordinary shares payable 2s 6d, on application, 2s 6d on allotment and 2s 6d, on 1 August, September, October and November leaving 5s per share to be called as directors may determine.
An amendment was proposed, and after much discussion, withdrawn and some of its salient features were amalgamated into the original proposals of the committee, which were unanimously adopted. The Chairman and committee were re-elected.
(Source: Liverpool Mercury: May 18, 1892)