July 31, 1893
A depressing balance-sheet
The annual meeting of the shareholders of the Bootle Association Football Club, Limited, took place in the Pavilion, Hawthorne Road, Bootle, on Monday evening, Mr. Henry Heard presiding.
From the income and expenditure account it appeared that £1,365 8s. 10d. had been received from gates and stands, £54 13s. 6d. from subscriptions and season tickets, and £101 1s. from various donations. The expense included £1,073 5s. 6d. paid as wages to players and officials, and £166 17s. 9d. travelling expenses and allowances to players. There was a balance-transfer of £592 5s. 10d.
In the balance-sheet £1m459 15s. 9d. was attributed to capital and liabilities, while the account of property and assets included £686 13s., balance from the assets of the club takes over by the company, and £20 1s. 10d. cash in bank.
The report of the directors expressed regret at the unfavorable nature of the balance-sheet and attributed this partly to the delay experienced in connection with the necessary legal proceedings to establish the company. Had the shares been issued earlier in the season it was felt that a larger number would have been taken up.
Difficulties had also presented themselves in connection with some of the players. An undue proportion of matches were played away at the commencement of the season, causing the prestige of the club to suffer materially, and it had never rallied from the effects of the indiscretion.
Probably the most serious consequences in regard to the financial state had arisen from the causes entirely beyond the control of the directors. The taking of the Goodison Road site by the Everton Club, and the phenomenal success met with by that company had acted detrimentally to the financial success of the Bootle Club.
In League engagements a serious loss had been sustained in nearly every instance, while the friendly mid-week fixtures, although not showing a loss, had not covered the losses on the League fixtures. The reserve team had also contributed materially to the adverse balance.
In reply to the Chairman the Secretary said the actual liability of the club to creditors was £312 16s.
The Secretary intimated that the following men had signed: Smart Arridge, Handford, and Billy Hughes. He expected James McEwan would also sign. He could not, however, obtain players unless he had money. Let the directors provide the money and he would provide the men.
It was ultimately decided that in view of the serious financial position of the company the directors are requested to take immediate steps for the consideration of ways and mean whereby the club might be carried on.
(Source: Cricket and Football Field: August 5, 1893)