June 26, 1893
The annual meeting of the shareholders of the Everton Football Club Company, Limited, was held last evening at the Presbyterian Schools, Royal Street, under the presidency of Mr. George Mahon. The report and accounts, were submitted. A dividend of 5 per cent, per annum was recommended on called-up capital, and Messrs. Mahon, Frank Currier, and William Jackson, retiring directors, were proposed for re-election.
The Chairman, in moving the adoption of the report, said the club had passed through a crisis. Notwithstanding that, he regarded the balance sheet as one of a memorable character. One side of the balance sheet recalled reminiscences of a troublesome past, while the other side showed strong traces of the old club, and offered a cheerful augury of a successful future. He claimed that the balance sheet was a distinct and able vindication of the part which they had all along assumed. They had endeavoured to conduct the club on broad and liberal lines. They had catered for working men to a more liberal extent than any other club in the country, providing for those who could not afford out of their small weekly wages to pay a shilling to see the League matches. He drew the attention of other League clubs, which now complained of inadequate support to the way in which the Everton club had been rewarded for providing the accommodation for the working classes.
Alluding to some private meetings which had taken place, he said the directors did not approve of such meeting, and with reference to the proposed divided he said he would prefer that 100 per cent, should be declared instead of 8 per cent. A member second the resolution and after considerable discussion the motion was agreed to.
The next subject discussed was the question of dividend, and on the motion of the Chairman, seconded by Mr. James Montgomery, it was resolved that the dividend of 5 per cent should be declared. According to the rules a dividend of a higher rate could not be declared.
Messrs. Mahon, Currie, and Jackson were the retiring directors, and the meeting proceeded to consider these denominations.
Mr. Mahon, the chairman, said the matter had been one of serious import to him taken from a health standpoint. For the greater portion of the past 18 months he had not been up to the mark, and he felt that for the next six or twelve months he should conserve his strength to perform the obligations imposed upon him. At the same time, he had discussed matters with his directors, and what he might call terms had been arrived at, which Mr. William Clayton would explain.
Mr. Clayton said what he had you propose was that in the ensuing year Mr. George Mahon be president of the club, with full power to attend any meeting of the directors, but the directors would not call upon him to attend all the meetings. This was agreed to. Messrs. Currier and Jackson having declined to stand, the meeting proceeded to vote on the nominations of Messrs. Benjamin Kelly, John Read, Frank Hall, and William Wilson. Messrs, Kelly and Read were elected, receiving respectively 79 and 51 votes. The meeting shortly afterwards closed.
(Source: Liverpool Mercury: June 27, 1893)