May 2, 1903
The finances of the Liverpool club are not so easily ascertainable as those of Everton. Liverpool is a private concern, not a limited liability company, and “we never divulge our financial position,” said Secretary Tom Watson the other day. I suppose not, unless the bailiffs were put in possession, but of that there seem no danger. The club is “warm,” without being rich, and will be able to pay wages in full during the off season.
As to new players, again Secretary Watson will “divulge nothing” – until next week. He has got hold of a big word in “divulge,” and he makes a free play with it in response to inquiries as the Prime Minister does with “fantastic.”
(Lancashire Evening Post: May 2, 1903)