St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-02
FIFTEEN MILLIONS WANTED
To Meet the Requirements for the
Worlds Fair Board.

" NIlC AOA NAAO
Worlds Fair Board.
CHICAGO, Feb. IA local paper
prints the following sensational devel-
opments in the affairs of the worlds
Columbian exposition: Nothing less
than So, 000,000 will meet the neceSsl-
ties of the directors of the worlds
Columbian exposition. This is the re-
port that will be made by Ferd W.
Peck, chairman of the finance commit
tee. and Otto Young, chairman of the
ways aud means committee, some time
this week. The estimate OF eXpendl-
lures for the worlds fair that these COM
mitteeS have prepared will aStonish the
directors. At the last meeting OF the
executive committee it was ordered that
a budget be prepared. showing the prob
able expenditures that would be re-
quired before the exposition closes.
The resolution calling for this budget
was introduced after Director General
Davis had sent in a statement that SIX
departments must be organized at once.
The estimated expense of the smallest
of those depa tments was $12,0u0 year.
With half dozen more departments to
organize and untold expenditures con-
templated in other directions, the
executive committee decides that
it was of primary Importance to get
the financial bearings OF the exposition.
Each OF the departments was Instructed
to prepare a bLdE Eet estimating the
amount that would be necessary 10 carry
them through the exposition and up 10
the time of the closing up OF the ous-
mess affairs. AS the resolution was only
adopted Wednesday, the estimates were
hastily prepared and some OF them may
fall far short Of the amounts that Will
be actually required. A few OF them
may exceed the demands that will be
made on their departments. A lengthy
conference was held yesterday, at the
conclusion of which the joint committee
decided to recommend that nothing
less than S15,O00,000 would meet
the requirements of the exposition.
A large part Of this must be available
for use before dollar is received at the
gates. This puts the directory in an
awkward position. At the utmost but
10000, 900 will be at their disposal be-
fore May l, 1893. That estimate is based
OH the suppoSition that every dollar OF
the popular subscription of $5,600.000
will be paid. In Semi-cOntidentlal con-
verSations, directors admitted that fully
II per cent of the popular subscription
will not be paid. That estimate would
leave $4, ,92S, 900 in addition to $5,000,0O0
to be derived from the sale OF city
bonds. There is an apparent deficiency
of S5,072,0OO between the probable
receipts and the necessary eXpendl-
lures. How to provide for that delln-
quency is problem that must be solved
by the directory. The situation is fur
tber complicated by the fact that no
part of the revenue to be derived
from the sale OF city bonds
can be used until s3,00O,0O0 OF
the popular subscription has been
paid to Treasurer Seeberger. A men,
ber of the finance committee said:
"The 5000. 900 now in the hands of the
directory will soon be exhausted when
work on the buildings is commenced.
The ten buildings that are to be built
by the board of architects will cost ST.
600, 900, and all the time We will be pay
ing large amounts for the maintenance
Of departments and for the sustenance
of representatives in foreign countries"
"How, then, is the money to be
raised?"
THAT is the question that the direct
Ors must settle. 1t has been suggested
that we bond the gate receipts tor 3d.
10000. l do not think the proposition
will be approved. 1t smacks too much
of mortgaging public enterprise"
"What other ways were suggested?''
THAT the capital stock of the exposi-
ton be increased to SlO,0OO,0OO without
delay"
Tine people of Chicago must raise
the balance"
Solicitors have been out for several
weeks with but moderate success. The
ways and means committee will begin
next week to sue delinquents.