In the club's formative years, West Bromwich Albion were run by a seven-man playing committee, and funded by each member contributing a weekly subscription of 6d (six pence) (2½p). Albion's first chairman was Henry Jackson, appointed in 1885, with the club becoming a limited company in June 1891. Other early chairmen of Albion included Jem Bayliss and Billy Bassett, both of whom had earlier played for the club. Indeed, from 1878 to 1986 there was always an Albion player or ex-player on the club's committee or board of directors. Bassett became an Albion director in 1905, following the resignation of the previous board in its entirety. The club was in deep financial trouble and had had a writ served upon them by their bank, but Bassett and returning chairman Harry Keys rescued the club, aided by local fund-raising activities. Bassett became chairman in 1908, and helped the club to avoid bankruptcy once more in 1910 by paying the players' summer wages from his own pocket. He remains Albion's longest-serving chairman, having held the position until his death in 1937. The club's longest-serving director was Major H. Wilson Keys, during the period 1930–1965, including 15 years as chairman. He became vice-president of the Football Association in 1969.