New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-21

The power to give such guarantee il should procure
the necessary authority at the first meeting of the
In order to make the Exposition National and
popular affair. Congress should be asked early In
which IS reasonable to suppose would no. We REFUSED
particularly as no funds are asked from the Govern
ment as a contribution toward the Exposition ~
when the stock IS in legal shape che company Will
then offer TO the people of the United states an oppo
II she amount should be largely oversubscribed
division shall be made pro rata excepting IN tne Sae
who would receive back the full amount OF their SUI
ssriptions: they so desired III taken
there would probably be no difdcuty in finding parties
who would readily take all the unsupseroed-ior SUM
The question now arises, how is the city Of New.
York TO reimburse itself for the guarantee ana "na'
compensation shall Ii receive.
Flrst-It Will ultimately become the owner OF an 'oe
property and buildings.
secondIt is expected that 81 500 900 viii be
admission fees alone. and at least
from the rentals of the various privileges
This would make 50 DOC. 900. for which amount tne
right should be given TO the city to have tne s'oGS
called a. So 5as 81 o 100 for Which the
city would obigatc Itself to pay two per cen, ms
but il can be clearly demonstrated hat there would a
be annual income OF at least S5Oooo sivIn s b
rentals OF the different buildings that would remain
and the admission fees TO the great tower tna'
IS Intended to erect $780, -, o,,,s
per cent their stock, and the remainder should 20
toward the citation OF the stl outstanding $o,aoo
h,
Thus II will be seen that at this rate the city will
lion but on the contrary, would have, before the eX
piraon Of twenty years, all the property ana Dhr
ings free as by that time all the shock would nave
been retired oo ,h,s
II she Finance Committee should recommend Is0, t da
plan an the different committees could without He.
ay make all the necessary arrangements IN piepsrhs
their plans, specifications, estimates, etc, after She
proper site had been secured thus SAVING cohsu'''
time, which at this moment Is essenta.
APPLAUSE GREETs THE PROPOSAL
lila.
The reading Of the document was followed
by burst of applause indicative Of deep interest
in the project, if not of approval oil the schemc
presented. Chairman Babcock suggested thaO
Mr. Seligmans plan should be referred to the
Executive Committee, a suggestion which Drought
Mr.. Inman to his feet with remark that tlle
plan proposed by Ii. j. Kimball should also De
thus referred Mr.. Simmons offered a mouoa
that all the plans submitted should De feierleu
10 the Executive Committee, which should nave
them printed in pamphlet form SO that u copy
might be furnished TO each member OF tne ln nnn
Committee, thus giving every MEMBER an 1p to
iunty DO examine carefully each proposition peioie
being called upon to vote upon 1t; A., rxoo,,ive
Mr. Inman thought the powers OF the AAeeu'i Inc
Committee should be clearly Defined hs he
understood il that committee was 10 nave no
plenary powers but was TO devote ltseii 10 uSes
ing the matters TO come before the luil cUlnls.
and then facilitate its business Chairman l
Hancock said that Mr. Inman's understandings
of the Executive Commuters scope was corIect,
b,t that if clearer definition of Its powers %e[o
needed il could be arranged later on MI DE-
mont did not believe II would be possloIe 70 pl,no
all of the plans submitted as 10 DO so Wouig na i
a book much bigger than the bbie Besides, , 1T ~,
said some of the plans were 700 aoS"f" " P' 80
print, or even TO read .oor ,,,;+l,
an immense bundle of documents, and the mayor
rreated a ripple of laughter by saying: MI
Chairman here are some plans that nave re-
ceived, and which / will gladly turn over 70 your
committee They were referred TO d ds II
was understood the Mayor said, that the EAecu,lve
Committee should have printed only sucn Pn' 'ns
as in their discretion seemed leaslpe: "' .h "
affairs 70 the committee, for the work Of
his office had been immensely increased by them
since the project got under way ana the peflectloh
Of the organization of the Finance Committee
would relieve him officially Of great burden
Mr. Smith moved that j. Perpont Morgan pe
made chairman of the Executive COMMITTEE NY;
Belmont having EXPIRE, sed Discrimination 10 hOld
the Office but Chairman Babcock thought the
committee should br allowed 10 select its own
chairman, and the motion was wlthdraWn. ne
secretary was instructed to call meeting OF the
Executive Committee to be held in the rooms OF
the Chamber of Commerce at IL O'CLOCK Vhis
morning.
TEMPORARY QUARTERS SECURED.
Mr.. Smith said that as there were no adequate
accommodations in the City Hall for committee
rooms, he would offer the rooms of the Chamber
Of Commerce until permanent headquarters had
been provided. The offer was acceptee. MI
Smith also suggested that the committee might
need current funds for stationery, clerk hire,
ETC. each member should tax himself sou or
500 for this purpose; Al that instant kou ni
man handed an en- 5elopc to Chairman Babcoch,
who, after opening 1t and scanning ITS conlents,
said that he had Just received a check Tor SlOoVV
for current expenses from The New-iork sun
and that il would be unnecessary TO adopt Mr..
smiths suggestion. The committee then ad-
iourned, subject TO call II is Likely that the
ENecntiye Committee will arrange for meetings OF
the full Committee on Finance at stated intervals.
The cinet characteristic of the meeting was
the earnestpess displayed by everybody ~
demonstrate ted that the men OF finance who nave
gone into the movement have done so with a
determination to make the Exposition OF s92 a
complete success None of them men who
have been identified with failures in the past,
but, on the contrary. they are men who have made
great fortunes for Themselves whose active sup
port Of any project is a guarantee OF successful
Many additional letters relating to the Ex-
position received at the Mayors office yes,
others from citizens who have more suggestions
to make. Hamilton Fish wrote:
such services as my age and health win allow me
.icned to me I will be glad 10 discharge.
4 man in Troy sent copy Of long article
the question of whether there ever was such
man as Columbus, and whether he ever dis
covered America. The writer does not want
tho Exposition no 90 on under false pretences,
and saws that if il is TO celebrate myth instead
of real man. il would be well to have the
facts distinctly understood.
The Manhattan Association Of Custom Boot
and Shoe Makers requested the appointment OF
Francis o Nell.
joseph j. c. Clark wrote accepting place on
the Committee Site and Buildings, saying
As a citizen OF New-YOrk l appreciate the i'm
p0riance OF the position and its grave responsibility.
shall bring 10 its duties all the earnest care which
he greatness Of the task demands
Thirteen firms. representing manufacturers Of
ladies' jerseys and stocknette coats, request the
appointment of G.. Schwab
The Shoe and Cater Filters Society request
the appointment Of Francis ONe
The committee of the Consolidated Stock and
Petroleum Exchange on the Worlds Fair recon-
mend the name of George Rutlcdge Gibson the
representative of the Exchange.
i petition received signed by eleven firms
manufacturing leather goods requesting the APP