The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-10
LOTTERY m FRANCE.
Foolish Plans to Raise Funds for . GPso
National Enterprise.

boSpso runs 20 RAISE FUNDS for 6f0os
National Enterprise.
The organizers of the exhibition OF
1900. scys Paris letter. have launched
q financial scheme which would seem
senseless If they could not count on the
passion Of lotteries. They have an
nouneed the issue of 3,250, OOo bonds of
90 francs each The es.o0o.ooo thus pro-
duccd. coupled with the subsidies from
the Paris municipality and the state,
amounting TO 100000. 900 francs. are TO
be employed IN starting the building
operations. These comprise two pal
aces in the Champs Eiysees in place of
the Palace of Industry. a bridg. over the
Seine, and the buildings, which viii
cover the immense area from the ex-
tremity of the Champ de Mars to the
chief entrance in the Champs Elysees.
Each bond viii entitie the holder TO 20
admission tickets and to n chance in 81
drawings. The latter, which are GER
tainly the great attraction. include
money prizes of 10000 francs. 100000
francs, 10000 francs and smaller sums
down to 100 francs. The bondholders
are also entitled to reduced railway
fares from the provinces to Paris and
back, reduced rates of conveyance with
IN Paris and reduced rates of admission
to the entertainments IN the exhibition
itself. There will. of course, be no re.
turn of the capital TO persons not win.
ming lottery prizes.
Now the first question which arises is
whether there will really in six months
he 65.000,000 paying entries, or about
100000 day. Some persons will doubt.
less go 20 or 30 times. bus III 1889 there
were only 2s,o00.O0o paying entries
One million two hundred thousand
bonds Of Is francs had then been issued,
SO that about . 900 600 tickets were un.
used. though they could latterly be pur.
chased for IS centimes. Strictly speak.
ing, indeed, the admissions numbered
only 25.500 600, but on certain special
days the charge was five or ten francs,
and each visitor, therefore, used five OF
ten tickets. This will again be the case
in 1900. but in 1889 the daily average
Of tickets used was 140, 900. whereas il
the 5000, 900 are to be used in 1900 the
daily average must be 800. 600. To Ger.
tain extent, however, the inevitable fall
in the selling price of the tickets will
swell the attendance, and it is obvious
that nobody will pay franc at the
turnstiles when he can buy a ticket in
the streets for quarter OF the price.
But whether the great bulk Of the
tickets is used or not, the exhibition
Golfers will receive the 65, oCO 900 francs
OF course the organizers do not count |
On any further receipts from adInis.
sions. They will, however. make money
by letting sites to exhibitors.
Curiously enough, although the pub |
lie subscription for the bonds does not
open for several days. brokers have for
ten days been delivering scrip, at first |
at a slight premium. but latterly at par
They undertake to deliver a bond even |
if the application exceed the issue. I |
know ono financial establishment |
which. has had to engage an extra stafi |
Of clerks to receive these applications,
which in two days have numbered 49,
700. I do not think the applications will |
be considerably in excess, but L have
reason to believe that the issue will be
50 that from Monday there will |
ne 65,ooo, 900 francs N hand, minus the
to brokers. The financial |
resources of the exhibition are thus in. |
Times