Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-02-18
COMES VERY HIGH.
The Pleasure of Holding a Great
Worlds Fair,
But CHICAGO IS BOUND TO HAVE TT,

And 60 Make 1t the Biggest Thing in the
Universe-More Bonds to Be Put on tn,
Market and Their Success Almost As.
sured-1hose Souvenirs Fail of Expecta-
tions, and Haven't Yet Produced "A Mill
ion-The Managers Spending 81 900, OOO
Month.
CHICAGO, Feb. 1S.-Financiers of the
Worlds fair have decided to put between
=, 2OO, 600 and 81 300, 900 more bonds on tie
market at once. These bonds, like those
issued some time ago, will be per cent.
debentures due Jan. |, 1894 They are
needed to complete the exposition build
ings and get the grounds in shape for the
grand opening May l. The bonds that will
be publicly offered next week are the re-
mainder of the issue of S. ,00u, 600 author
lied after it became apparent that con-
gress would not appropriate S, 600, 900 for
the exposition.
Souvenirs Failed of Expectations.
The government appropriation of $780,
900 souvenier half-dollars in lieu of a
straight-out donation of 5000, 900 has not
answered the purposes as fully as many
enthusiasts had supposed. The proceeds of
sales of souvenir coins, according to Au-
ditor Ackerman's last report, was 1917 ,637.
This does not include the price realized for
the famous $4,000 beauty-the first perfect
coin struck from the mint. Including this
and SD % in addition realized from premi-
ums on COINS, the total amount of the sales
of souvenirs to Feb 6, the date of Mr..
Ackerman's report, is SS27, $50 IS
Believe the Bonds VIII 60"
ntaIx L
finance committee have been negotiating
for the sale of the bonds, and yesterday
Chairman Peck announced that fully half
the remaining issue had already been
placed. He believes that the small block
left will be sold in few days. The largest
buyers Of these bonds have been railway
companies, both eastern and western. 1t
is thought that the entire issue will be sold
to railways at par value The bonds are
secured by mortgage on the entire assets of
the exposition company, including the gate
receipts.
Tremendous Expenditure of Cash.
The report made by Auditor Ackerman
to the board of directors a little more than
a week ago showed that on Jan. 81 he had
1888, 1894 left in Chicago banks to the
credit of the exposition company At the
rate of expenditures that has prevailed for
almost year this amount would be ex-
hausted in three weeks. The month of
January was not favorable to building
operations at the park, yet S970, O9S. 40 was
paid out on vouchers of the construction
department. Other expenditures swelled
the disbursements for the month to 81, 49,
80, bringing the total outlay since the
exposition was launched to Sl4, 593, 31714
Expenses Twice the Estimates
This sum is far in excess of the amount
originally fixed upon by the board of direc-
tors for building the fair The earliest
estimates were that $4,000, 900 would be
ample. Now it is known that nothing less
than $40 900 will open the gates The
managers will not falter, however. They
are determined that the Columbian expo
sition shall stand without a rival during
the next century. Neither are they dis
couraged. They are full of confidence in
ultimate success.