, 1874-11-15
From Dec 13, 1873, to Noy~ T, 1874, inclusiYo.

st1titn accou1it particularly about s0.00 for paint:
il. and at least portion Of the labor IN ths machinery
subscriptions to the capital stock hare been made
daring the rast year some payments have been 1ssate,
cTrvcr, within that tEes and Tie stocE account EoW
stows:
Whole number Of shares subscribed is. 829
1u:ner OF full pail shares for which certificates
n,nse1 0eof of saus sns9es on which psr payments
r'ees s % of shares % subscribed upon which no pay
Nua,ber Of unsubscribed shares- G72
whole amount Of capital stock $500 shares CT s1oo
e7ch, or $780, 900.
In accordance with order Of the Board
Of Directors, proper legal notice has been
givcn to delinquent subscribers with view
to the forfeiture OF their subscriptions. and Of the
amounts paid the provided for by the Law
under which the corporation is organized.
It may not he unnteresting 10 mention. in this con
last chow that the Exposition building, hxtures and
personal property belonging to the and
available for the Of holding industrial and art
exhibitiors have cost about SIS 600. OF tkls sum,
only s171, ,s75 have been received subscriptions to
thr catl stock that except the present ontstand,
ing Indebtedness Of about $780, ooo and s. 60 received
from rent the entire amount has paid from tho
earnings Of two exhibitions and within lefs than
eighteen months from the date Of the first contract for
the construction Of the building.
In ordinary times, and under ordinary conditions,
this showing would not rerhaps be justly regarded
remarkable SUCCESS in Chicago; bur, having been
conp1sbed within three years from the date Of our
great ccsolaou by fire. and during the existence Of
tulur1al depression QQd Dus1ueSs DECENTRALIZATION,
aluost If not quite unparalleled in the history Of this
country 1t hardly he regarded as 1esa than satis-
factory. OF the causes which have contributed most
largely to this gratifying result, desire to mention
vcrJ briefly the following:
-srst-!The wellnigh universal recognition among
istTs e4hbitiops Of The higher class aIord the very
best medium available In connection with the press,
for bnping their product and methods and processes
to tho knowledge Of the people for whose patronage
they 1ahor
tS,con6-The location-and by thisis not meant Lake
P,rk which the building stands md which is in all
eespecs the best possible lace for ibut the City Of
Chicago NTH its controlling GENITAL position IS #
stands related to The great industries Of tbs country
and to the actve energetic aud Intelligent population
of tie Nesteru States, by whom those industries
prosecuted
Third-The extreme thoroughness and 1ihera1ity
haito1s i:so in almost every department. n conp,ec-
ness Of detail in Ill the appointments for such an
5sse, sna s sav.nasea asheF sy 5nh5ne bsas
or to the accommodation und pleasure Of The waiting
ruac there is very little left undone and in these
safely said to to without rival in this country.
Only tome suitable provision for the exhibition Of
lie naSor;ancG Of tbas great interest. ecens to lie
;a=Eing, and this defect you will doubtless remedy in
dnc time.
offering piizes Al the International Ezpoaitlou Of
1so7, ths Commissioners rcpreentlng all the lending
rrtssed With the ahsurdlty Of the whole system
of competitive exhibitions, and tho gross
Injustice 80 often. resulting from its prac-
teal application in the awards of juries,
fiat they unanimously recommended its entire
abandonment in the management Of future exhibition
nf tho Industries OF all natlous, and learn that Of
late strong effort has been made TO conform the
policy Of the Centennial in 1876 to this recommends
t,on. Tour own organization was tue hrst Of any
magnitude to make the departure, and to bring
the principle to practel test. Instead Of compeli-
ing your exhibitors to submit their contributions to
s1pend portion. at ieast. Of the large amount re- g
qured carry through such system, in aiding those
s increasing the faciss ior presenting their cantr
buttons to the public in favorable manner. Hence,
tho ~ drst ST. time 60 IN tie history ny 'A'' of tn- p-
terr17Ees Of this character, the great mass
Of exhibitors after having been here duty for thirty
days, pettcning for two weeks extension Of time
To any one familiar With the closing Ct fair
wllcrc Trizes have been awarded, whether lie be tn
exhibitor, officer Of tho organization, or mere
spectator, no better or stronger evidence Of the Wis
dom Of your policy on this subject could be of.rea.
fifut-The adoption OF liberal excursion scheme
hy the railway companies Whose lines centre IN tits
city. 1t lis difficult to oreresti1nate the yalue OF
tne in inducing aud enabling the people Of the
ment for Excursions were far superior this sesI
those Of last sesr, and consequence tho att.n-
thaa in 1879 There is reason to believe hat The re
suit 10 the Companies Themselves entirely satfac-
snd that the railway arrangements for the Expo
sition of 1875 will bs 4tu more unera syste,natic aud
complete
.S,rM-rhe interest manifested By the press of the
c;ts; and not Of the city alone but OF the Western
6tatcsgcnesafly.-au influence reaching 10th city and
country, and which MI recognize and appreciate as In
di6rensabe to full measure Of SUCCESS.
Sctenfh-The popular basis OF the organization
i:stn. inspection Of the list Of stockholders Will
reveal the fact that nearly every material In
terest OF tho city,-manuf1ct1res, trade, commerce.
snd capital-fs represented. To this, NJ well tu
Tie intfinsc merit Of the aims and purposes OF the
organization itself, doubtless due the liberal policy
o. the city authorities, the Council. Board OF Public
Aorks tolice and Fire Commissioners and MaFshals-
permitting originally the Of this site for the
building III afterwards extending your term Of oc-
sopancy ~ well ae in protecting the property from,
nIc anu depreciation. suppose there is no rezspn to
sxpocs any material ch@nge III those friendly .iztour
aihcr " the e1actiou OF rental or re-
moval OF the structure until the net rcycnr1ea
shall have at least fully reimbursed ynn for
tho outlay, and place you in position to contt,na
Ilekc annual exhibitions graader scale and viii
still better appointments
serenn-The seh-sac1iAdng devotion and rare .bs1,,
ty With which the Chairman sud members of fha ~
:tiye COMMITTEE hare discharged the duties Of teir
rostion, in obedience 70 the Bylaw which charges
that body with all the arrangements for holding exn
bitons. OF this need not say more you are all
familiar with the facts but it justice "a Il
Is certainly your pleasure, to recognize them as fca
ture in the history Of this organization.
Il may not be necessary rnny add very little to
your knowledgs Of the general subject but cannot
# the paEt two years. experience, to some Of The
REASONS for continuing these annual exhibitions:
First-I ts entirely feasible. You have already
kruc:ed and nearly finished paying for exhibition