ECFC AGM | 1915

In between dispatches from the Western Front and a review of the game of golf in 1915, the Western Morning News printed on the third page of their New Years Day Edition (1916) the 'Questions Asked at Annual Meeting Last Evening', in relation to the Exeter City Football Club and Athletic Company AGM 1915.

Transcript and Image below:

The annual meeting of the Exeter City Football Club and Athletic Company, Ltd., was held at the Bude Hotel last evening, under the chairmanship of Mr. M. J. McGahey.

The Directors' report and a summary of the balance sheet has already appeared.

The chairman, in moving their adoption, said that everyone new what a struggle the Board had to make the financial side of professional football in Exeter a success. They had had their worries, but resolved to stick to their task.

Save for the War, they would, he was firmly convinced, have been able now to show that they had cleared off all debts and were in a sound financial position - (hear, hear).

The result of the war, however, had led to their not being in such a satisfactory position. The accounts now presented were fairly clear, but it was an error in the report where it was said that the gross income was £3,000 less than last season. The figure should have been £2,000 less.

In regard to the £317 15s 10d shown as receipts for "friendlies," he should explain that £317 of this was received in connection with the Argentine tour, so that if it had not been for that trip the receipts from "friendlies" would have been only 15s 10d.

The Argentine tour also affected the wages and salaries figure. In the year before, namely 2013-14, that figure was £2,162. and in 1914-15, £1,975 6s 7d. It would, however, have been much less (£200 or so less) but for the fact that having arranged the Argentine tour they were bound to pay more summer wages than usual.

They had, in fact, to keep a team going all season.

The amount received in players transfer fees was £595, as against £533 the year before. The £595 concerned mainly, if not entirely, the transfer of Fort and F. Whittaker to Millwall. There was a balance of £350 still owing on that transfer, but it was not shown on the balance sheet.

If it were recovered after the war, there being some money owing to the late manager and one of the directors, the sum would be devoted to paying those amounts off.

The Chairman went on to deal with smaller items, and expressed the club's deep thanks to the Lady Ann Clifford's Charity Trustees in regard to the rent of the ground, to Mr. H. E. Duke. K.C., M.P., and others. He concluded by remarking that Exeter City had lost much less in 1914-15 than most clubs, and there was reason to that extent to be thankful, instead of being doleful.

In answer to a shareholder, Mr. Thomas, the secretary, said that the item of £92 7s 3d appearing as gates of Plymouth and District League matches should read "Plymouth and District team's matches," or really friendlies.

The Chairman, in answers to questions from the same shareholder, said that the arrangement made with the Argentine authorities was that they (Argentine) should pay the travelling and hotel expenses, and also pay £20 per man to cover the player's incidentals.

The tour showed a profit, fi it could be so called, of £311 1s 11d, which went in the summer wages, the players not receiving the £20 each in a lump sum, but as part of the sum they agreed to to sign on for for the summer.

If it had not been for the three extra Rio matches there would have been a loss, for these games brought in the £300 odd which was the gain on the tour.

Mr. R. Davey: Then but for those three matches the tour would have been a loss?

The Chairman: Yes, that is so. Every Club, I believe, which has gone to the Argentine before has shown a loss.

Mr Davey: Then there is a big risk in undertaking it?

Mr. J. T. Pengelley: Yes, but we considered the fact that we should be keeping our team together. That in itself was an asset.

Other questions were asked, and the Chairman pointed out that the particulars were not given as to actual amounts paid out in transfer fees or received.

The amounts he mentioned in connection with Fort and Whittaker were not the net sums agreed upon with Millwall.

In regard to the amount owing to the manager, the Directors wished to deal perfectly fair with him, and believed they had done so in the past.

Mr. O. F. Passmore said he was glad to hear that, because Mr. Chadwick had been a very good servant at the club.

The Chairman remarked that so far as he knew there was no breach between the club and the manager. Matters would heal themselves undoubtably, the same as the finances generally.

The report and balance sheet were adopted, Mr. Passmore remarking that he considered the Chairman has showed everything to be perfectly fair, above board, and satisfactory.

Messrs. McGahey, F. Parkhouse and F. G. Hill were re-elected Directors, and Messrs. Martin, Ball and Co. auditors.



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