Beport  of  Park  Royal,  Limited,  190IV1904. 
xxviii 
for  the  first  two  years,  and  400L  per  annum  after.  In  addition  to  this,  when 
the  gross  takings  at  any  one  match  other  than  a cup  tie  exceed  .'joO/.,  the  Club 
is  to  pay  to  the  Comj)any  one-half  of  the  receipts  in  excess  of  that  sum,  and  in 
the  event  of  the  Football  Association  requiring  the  ground  for  a match,  the 
Club  to  pay  to  the  Company  one-third  of  any  money  received  from  the 
Association. 
6.  Facilities  have  also  been  provided  for  three  local  Football  Clubs  during 
the  season,  and  it  is  hoped  that  the  demand  for  further  grounds  will  be 
augmented  in  the  future. 
7.  The  grass  keep  has  been  let  from  September,  1904,  to  May,  1905,  at 
a rental  of  00 k 
8.  The  purchase  of  the  site  of  the  Plumes  Tavern  has  been  completed,  and 
a Lease  granted  to  the  Middlesex  Public  House  Trust  Company  for  a term  of 
ninety-nine  years  from  Lady  Day,  1904,  at  a yearly  ground  rent  of  38f., 
provision  being  made  for  power  to  expropriate  the  house  and  larrd  acquired 
under  the  lease  upon  six  months’  notice  at  any  time  between  Lady  Day,  1909, 
arrd  Lady  Day,  1925,  at  a jrrice  equal  to  the  capital  sum  experrded  and 
cumrrlative  irrterest  at  the  rate  of  5 per  cent. 
9.  The  Hon.  Cecil  T.  Parker  havirrg  resigned  his  seat  on  the  Board,  the 
vacancy  was  recently  filled  by  the  election  of  Lord  Middleton. 
10.  It  has  been  considered  desirable  that  the  system  of  auditing  the 
Comjrany’s  accounts  should  be  rrrade  uniform  with  that  adopted  by  the  Royal 
Agricultural  Society,  by  the  appointment  as  Auditors  of  the  Company  of  the 
.same  three  gentlemen  who  are  appointed  annually  by  the  Members  of  the 
Royal  Agricirltural  Society  irr  General  Meeting  to  audit  the  Society’s  accourrts 
with  the  assistance  as  Professional  Accountants  of  Messrs.  Welton,  Jones  & Co. 
To  facilitate  this  being  done,  the  Auditors  originally  appointed  by  the  Directors 
on  the  formation  of  the  Company  (Mr.  J.  F.  Bond,  of  Welton,  Jones  k.  Co.,  and 
Sir  Ernest  Clark),  expressed  their  readiness  to  retire  from  the  post  of  Auditors 
in  favour  of  the  three  gentlemen  above  referred  to.  Accordingly,  the  Directors 
formally  appointed  as  Auditors  of  the  Company  Messrs.  Jonas  M.  Webb, 
Hubert  J.  Greenwood,  and  Newell  P.  Squarey,  by  whom  the  accounts  now 
})resented  have  been  audited  and  certified  as  correct. 
11.  The  Directors  retiring  at  this  meeting  in  accordance  with  the  Articles  of 
Association,  are  ; Sir  Walter  Gilbey,  Bart.,  and  Colonel  Sir  Nigel  Kingseote, 
G.C.V.O.,  K.C.B.,  who  are  eligible  and  willing  to  be  re-elected. 
12.  The  Auditors,  Mr.  Jonas  M.  Webb,  Mr.  Newell  P.  Squarey,  and  Mr. 
Hubert  J.  Greenwood,  retire  in  accordance  with  the  Companies  Act,  1900,  and 
are  eligible  for  re-appointment.  i 
(Signed) 
MIDDLETON, 
PERCY  CRUTCHLEY, 
Registered  Office  of  the  Company  : R.  S.  BURGESS,  Secretanj. 
Eastern  Entrances, 
Abbey  Road, 
Willesden,  N.W. 
I Directors. 
