Port Royal commercial and Beaufort County Republican. [volume] (Port Royal, S.C.) 1873-1874, 1874-02-19
The Centennial Exhibition.
Financial Condition of the Undertake
ing.

Financial Condition of the Undertake
ing.
General Lansing, of Philadelphia,
agent for the American Centennial
Finance Committee, has been address
ing the Board of Trade in Chicago for
the purpose of obtaining support and
aid for the Centennial Exhibition. He
proposes laying the intent, meaning,
and wants of the Exhibition before the
Chicago Board of Trade "The Cen
tennial Board of Finance has the sole
charge of the raising of money, the
making of contracts, the auditing of
accounts, and the spending of the
money subscribed by the stockholders.
1t was organized in June of last year,
and to organize it it was necessary to
have stock subscriptions. Under the
direction of the Commission, the fnan-
cial corporators of each State were di-
rected to meet and open subscription
hooks for 100 days. For that period
each State was allowed to take so much
stock and no more. At the expiration
of the 100 days there was $4,000 stock
holders, and they elected the Board of
twenty-five Directors, who now control
the finances of the Exposition. They
met in June, and determined the way
the accounts should be organized, ar
ranged, and kept, and the way they
should continue the receiving of sub
scriptions to the stock. In the month
of September they decided that the
Union should be divided into five dis
tricts, West, Northwest, South, Middle,
and New England, committee to have
charge of each and obtain subscrip-
tions. I am here to represent the
Western Committee. The stock of the
Centennial Board Of Finance is $10,-
1000, divided into 1000, 600 shares of
$40 each, payable either in full at the
time of the subscription, or 20 per
cent. down-$2 per share-and the re-
naming so per cent. in four quarterly
payments, beginning three months
from the first month succeeding the
month of subscription. Interest at 6
per cent. is paid every stockholder
from the day of payment to the 1st of
January, 1876. Every stockholder has
a vote at the annual election of direc-
tors, and his share, pro rata, of all the
proceeds of the Exposition, less the ex-
penses and plus the price obtained for
the buildings at the close. They re-.
ceive certificate of stock to hold as a
memorial. 1t is steel engraving, lex
u inches, drawn by Darling. The
sketch is now in the hands of the Sec.
retary Of the Treasury, under whose
direction it is to be engraved by the
engravers in the employ of the Govern
ment. On the Fourth of July, 1873,
the Fairmount Park Commissioners
gave to the Centennial Commissioners
450 acres Of land on which to hold the
Exhibition. The buildings will cover
space of rs acres, the main one cover
45 acres. Their cost will be over TO-
100000. The memorial structure is to
be purchased by the State of Pennsyl-
vania, and will be kept in perpetuity as
national museum. Each State pays
the expenses incurred in sending its
products to the Exposition. The Com
mission provides the buildings, the
steam-power, and the space for the pro-
ducts, but what each State exhibits is
in the hands of its own Commissioners.
Applications for space nearly equal to
half the area of the buildings have al
ready been received. Compared with
the Vienna Exposition, there will be
5000 more feet of room. There is great
interest to-day in our Exposition in Eu-
rope. France, England, and Italy
have appainted 400 commissioners, 200
of whom will be here next spring. vi
emma has sent Baron Schonborn to
this conntry to superintend her inter-
ests at the Exposition. Your Cover.
nor will appoint your State Board as
soon as the Legislature passes joint
resolution. In the apportionment Of
the contributions, Illinois was assessed
1868, 700, based upon the population
given in the census of 1870. The popu-
lation having increased, the quota is
left open, and each State can take what
it pleases. The architects are now en-
gagged on the plans for the buildings.
The trenches for the foundations are
dug, and the foundation will be in and
the cornerstone laid on the next Fourth
of Julv