New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-11
NEARING A SOLUTION.
WORLDS FAIR COMMITTEES HARD AT
WORK
CONSIDERING THE DETAILS OF A FINANCE AL
SCHEME ALREADy-ANoTHER SITE TO BE

SCHEME ALREADY-ANoTHER SITE TO BE
LOOKED AT-Two STARTLING PROPOSALS.
Two of the most important of the worlds Fair Com
ntees held meetings yesterday, and such Information
rs given ont for publication concerning their
deliberations indicates that decisions, both as to
financial plan ana ste, may be expected soon.
The Executive Committee Of the Committee on
Finance met in the rooms of the Chamber or Coh-
at noon and for the first time since the COM
mittee was organized every member present
The chairman, j. Perpont Morgan, presided The o'her
members beng j. Edward simmons Charles g. smith,
John IL. Inman, August Belmont, Samuel d. Baocock
and Cornelius Vanderbilt Mr.. Vanderbilt had not
been able TO attend any of the previous meetings, AMI
fnal discussion OF financial plans was delayed 10
some extent because of an indsposlton the part OF
the other members take conclusive action in his
absence Charles .. smith, chairman OF the fuIl Com-
mittee on Finance, laid before the meeting, letter
from Whtelaw Reid, United States Minister TO France
1T as follows:
Paris, 2sth August, 1889.
Charles S. smith, esq, President Chamber OF Com
Dear Mr.. smith: Your cable of the twenty second,
asking for details OF the financial schemes OF the
FIcnch Exposition, including their ticket system, Was
i have at last succeeded in getting The French
Republic,' containing the more essential features vi
their schemes, and these are mailed TO you IN
separate letter envelope herewith oh .,...
mary OF their plans embodied In this note
on the 31st of March, 1856 agreement was en-;
The City of Paris on one Side and the Credit fOn Ter,
acting on behalf of Guarantee society, on the oher
exposition would he AZ, 100000 francs. Or this the
State agreed to advance 100000 the CITY eOOOOoO
and the Guarantee Society l9,000OU0 francs But
The Guarantee Society was TO receive back again
900 francs each and these to participate pro
rata in any profits that might accrue. u,o
The Guarantee Society anticipa- rat the 5000
boo francs advanced by the Government of France
and the city Of Paris should be exhausted before any
portion OF their 100000 francs touched. On
The other hand the state was TO have entire control
Of the Exposition In the first instance the tickets
TO be issued by the Treasury, in 1873, and
commission of per cent was 10 be allowed to retail
On the 18th Of April, 1889, the Credit Foncier
issued 100000 bonds Of % francs each at par
attached to- each bond were twenty-five entrance sce
used his twenty-five entrance tickets he got the bond
Tor nothing. The bond was ticket in a lottery en-
uting the holder TO GRANGE IN inc drawings 1Or
prizes particulars Of which you will find set forth
bonds arc themselves to be repaid without interest
10 the holders in the year 1864.
tickets attached. sold under these circumstances
TO the amount Of 80 100000 francs The Guarantee
Society was reimbursed or the total 100000 francs
are e1pposed 10 he sufficient II probcfIy inyes ted 10
pay all lottery prizes and accumulate fund for the
payment Of the bonds themselves al their maturity in
This IS a basty summary. and doubtless leaves out
many Of the important details, but hope it will be
sufficiently clear 70 give you a general idea OF TIE
subject, while in the documents send herewith you
will get all particulars
/ sincerely hope you going TO make great sue
cess Of the affair and above that you not going
10 ruin Central park u do it. II would he great adj
vantage If concus on could be reached before this
Exposition closes. Arrangements might doubtless be
mads 10 nave NAM oi @ and om AaHc paad
African countries, taken down and transferred TO New
York with best wishes very 'I WI1 y9rS Iw REID
Mr.. Reds letter the subject Of an extended
discussion and It was considered that it gave clear
and concise idea of the Paris Exposition financial
plan.
DOWN TO DETAILS ALREADY.
After the meeting had adjourned until u 80 on
friday; Secretary Wilson told tie reporters that the
adjournment had been taken in order to give further
consideration TO plan which II is hoped will by that
time be perfected If So # will be finally considered
nt Fridays meeting, and then a meeting Of the full
Committee Finance, consisting Of twenty hve mem
bers viii be promptly called, to which the plan VIII
be submitted for final action. What the nature OF the
plan referred to IS would not be made public, Mr.
Wilson said until submitted to the full committee.
The Executive Committee of the Committee on site
and Buildings met at thor headquarters at 3 D. III.
There were present Roswell =. Flower. chairman;
Charles A. Dana, John FOoId. samuel Gompers, william
T. Grace John II. Starn and Henry Il. ioWne' Inc
absentees were Charles +. Chandler and Isdor SauS
Mr.. Flower made a suggestion, which was adopted
that the proposed site composed of Riverside ana
Monngslde parks and adjoining lands should be adoed
AZ a fourth SITE to be included in the report TO be
presented TO the full committee Site and Buildings
today for The purpose of typographical surveys es
Inmates, ETC.
On motion of Mr. Grace the committee decided to
Instruct Secretary FoOrd communicate with the CHAIR
man of the Board OF Trustees OF bloominedale Asylum
with regard to the possibility OF securing the lands OF
the asylum for the purposes Of the EApoSluoh'
A motion was adopted that, for the better under
standing of matters TO be acrwaId presented TO them
the members of the Committee on site and BUILDINGS
be- invited 10 inspect the following lor slVos
IN Claremont Park and the lands south OF H.
Col Oak and Balretto Points and adjoining lands
tho Iryl
eide and Monncside parks and adjoining lands
Two reports were received in response to the COM
mittee's Invitations to prOIeIyONners, one Deihg
from the Washington Heights Taxpayers Assoclauoh'
and the other from Robert >. CheseO'oush A one
of these reports was lacking in deinencsN and Inc
property owners interested in the fom SHES speciaS
named not having been heard FROM 1t was agreed tha'
further time be given for the collection OF niomaHoh'
The committee received and considered a NUMBER
of interesting communications yesterday 10 some %
which considerable discussion was devoted, one ID
particular occupying the attention Of the committee
during the greater part OF its session 1t was nom
man who signed himself \ twenty resident
Of the city, His identity was known TO the com
mittee who suppressed his name at his request 1t
was announced however, that he is prominent
citizen. Among other things, he wrote
l submit for your consideration the area bounded
by Grand ST from the East River to Dlyision-st;,
thence TO New Bowery. TO Pearlst, to the Ne"-iorh
Fast River font TO Grand-st By legislature enact
ment the property can be condemned early il January
md the entire demolition accomplished by june /.
1880 which will be early any OF The plans can
bs cot ready for building. The condemnation can
~ 6sScd ON the average amount OF taxes paid upon
Inc property the last twenty years; that Is, Tor
iii,etralon If the average paid taxes indicate an
asSessable Valuation go 600. based upon thirds
~ The real value, the city should pay $4,000 Tor
s,cb nroperty After the Fair, the city could put
b n,uerty into the market at prices estimated upon
cost and improved advantages, and receive hand
o,,. ,cfprn Tor the investment. This would cut out
sHre Mace from the body OF the city, and at once
lead 10 Inc building Of comfortable ahd healthiui
tonseS for the Door I'm region where they are most
needed 49,. a, -.