Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-05-26
Even il the financial Part is kot-csst Of
Fair Up 10 Date.

Chicago and the people of Chicago who
subscribed to the stock of the exposition
company may get back only small part
of their money. This is not thing to he
much deplored in itself. The Chicago peo-
pie didn't expect TO get their money back
when they put it up. At least, they did
not expect TO get it back directly from the
exposition treasury. But that they will
get it back many fold in other ways
| through the assemblage in their midst Of
millions of strangers, no one can doubt
But a large class of Americans will insist
upon regarding the fair failure unless it
earn a profit for the stockholders. They
have a strong commercial instinct, and
think success in this as in other enter
prises is measured by dividends. They
overlook the fact that this is not intended
and was never intended as a money-mak-
ing concern. Its greatest success will lie
in affording instruction, inspiration and
| amusement to a large proportion of our
people. Inasmuch as the educational sue
cess and the financial success to a certain
extent are dependent upon the same con
dition-a very large attendance-it is
worth while to pause here and consider
what the chances are.
The attendance so far during the month
of May has been rather disappointing.
But it is easily explained. The fair has
not been complete, and the weather has
for the most part been cold and cheerless,
The people, not only Of Chicago, but sur
rounding country knew the fair was not
finished on the opening day. and they
were not willing to spend their money and
time going to see an imperfect exposition.
You cannot fool the people, and some of
the Chicago papers now wish they had not
attempted to do SO. At this date, how
ever, the exposition is practically COM
plete. No one need fear being too early on
the ground after this. The work is done,
the show is finished. 1t is ready for the
inspection of the world.
How great will the attendance have to
be in order to make the exposition a sue
cess fiuancially2 This is very interesting
question, but it cannot be answered very
accurately because there are other sources
of revenue which depend somewhat upon
the attendance but which cannot as yet be
only estimated. Still, this inquiry about
the financial success of the enterprise is an
interesting one, and speculation upon it is
| a convenient means of reaching better
appreciation of the magnitude of the
operation.
In round figures, which are within
hundred thousand dollars of the actual
sum, the cost of the fair to the opening
day was twenty millions of dollars. This
enormous sum is more than twice as much
| as was spent for the last Paris exposition,
L ~. ~. <1f
| behind the enterprise. Twenty millions
| probably reaches the high water mark in
| the outlay for international expositions.
1t may be doubtful if the coming century
| will see parallel to this affair in mag
nitude or costliness. This fair is not too
| big, but it is big enough. Future fair
| builders will probably devote their ener
| gies to making more perfect but not more
vast. How was all this enormous sum
raised2 Principally by the citizens of
Chicago. In the first place, they sub
scribed nearly six millions of dollars of
stock in the exposition company, and have
| paid over in cash thereon s.. S5i ,113. Then
the city of Chicago as a municipal corpora
ton issued bonds and devoted the proceeds
to the purchase Of s., ,0OO,o0O of stock. Thus
nearly eleven millions in cash was poured
into the enterprise here.
| At first it was thought this would be
| enough, or nearly enough, to build the
| fair But it proved to be only half enough.
| The exposition issued five millions of its
| own bonds and sold them at par. This
| gave a total of sixteen millions. Congress
| voted five millions of souvenir half dollars
| in aid of the fair, and then took away q
half million dollars worth of them on a
| auibbe Out of the remaining two mill
| ions of dollars worth the management
realized, by virtue of premiums, very
nearly &, 500 coo. Thus the total receipts
were brought up to nearly eighteen and a
half millions Interest and miscellaneous
receipts swelled them to the grand total of
S190oo,W0.
Ii cost more than twenty millions to
open the gates. Only nineteen millions
had been received, therefore the exposi-
ton company began doing business May
| lst with a debt of million dollars staring
| 1t in the face.
Looked at as vast financial operation
this fair is almost as fascinating as from
any other point of view, twenty millions
to open the gates, three millions more
will be needed to pay expenses till the end
of the six months, therefore $23, 900 If
to be approximately the total cost of the
| Worlds Columbian exposition. Is there
any chace that this enormous sum OF
money can be earned by the gates and the
concessions. At the close of the fair it is
estimated the salvage from the buildings
and grounds will net million dollars.
Still twenty two millions to raise. What
do you think of their chances'
At the Philadelphia exposition the at
tendance was 5000 per day for the six
months. At the recent Paris exposition it
was 10000 per day. The former figures
at Chicago would mean failure, the latter
financial success Results will probably
be found about midway between these
marks, or from 125, 900 TO 10000 per
sons paying their way each day through
the gates. II, as it looks now, the fair il
to be open every Sunday, the average at
tendance may reach the latter figure.
Chicagoans who well know their city and
their people aver that every bright Sun
day from this time on there will be from
three hundred Thousand to a half million
people on the fair grounds. One finds nc
difficulty in crediting this statement. Chi
cago is now monster city with nearly
two millions of inhabitants. Besides, it Is
Sunday city. Three-ffths foreign born
the population makes the Sabbath a day
of outing and recreation. The theaters
are all open on Sunday, the dance halls
the saloons On this account many peopls
: have argued that the fair should be oper
also.
OF course II the people of Chicago poul
: through the fair gates on Sundays from q
quarter to half IAlIion people, they viii
not have enough people or energy left t.
constitute much Of an attendance durin.
the remaining six days Of the week Ther
the people who live outside the city mus
swell the receipts The indications ar
4 that enormous numbers of strangers viii
, flock here during the summer. Th'
crowds are already swelling. By the mid
die Of June the tide will be running
strong.
Chicago hotels have accommodates TO
about two hundred thousand strangers
The furnished rooms in minor hotels o
boarding houses and in private house
: throughout the city are able to take car
of one hundred thousand more. At n
time are they likely to be pushed to thei
full capacity. Repressing all enthusiast
= expectations, it is not likely that more thai
one hundred and fifty thousand stranger