On this date, the FR Co. held its AGM.
It is reported that Needham Shelton and John Graves Livingston proposed the payment of a 6% dividend. Erring on the side of caution, Andrew Durham and John Whitehead Greaves countered this with a proposal for a 5% dividend. Shelton/Livington won the vote. Durham went on and ,supported by George Augustus Huddart, proposed that Spooner's salary be increased to £300 yearly, and free of tax(!). Durham further proposed a vote of thanks to the zeal and diligence of Spooner for and on behalf of the company.
There were no objections to the proposal of Shelton and Greaves that Livingston Thompson and Huddart be paid £100 plus expenses for travel and lodging, in order to attend, monthly, the company business for the following year. Apart from this it seemed the only payments to other direcors were in the form of the annual 5 guineas paid towards expenses.