Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-11-05
LOTTERY IN FRANCE.
| Foolish Plans to Raise Funds for . Great
National ENTERPRISE.

The organizers of the exhibition of
1900, says Paris letter, have launched
financial scheme which would seem
senseless if they could not count on the
passion of lotteries. They have an
nounced the issue of 3,250,0O0 bonds of
20 francs each. The 65,000,O00 thus pro-
duced, coupled with the subsidies from
the Paris municipality and the state,
amounting to 100,00O,000 francs, are to
be employed in starting the building
operations. These comprise two pal
aces in the Champs Elysees in place of
the Palace of Industry, a bridge over the
Seine. and the buildings, which will
cover the immense area from the ex-
tremity of the Champ de Mars to the
chief entrance in the Champs Elysees.
Each bond will entitle the holder to 90
admission tickets and to chance in 90
drawings. The latter, which are GER
tainly the great attraction, include
money prizes of 100000 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 redu-,ed 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,O00 paying entries, or about
100000 day. Some persons will doubt
less go 20 or 30 times, but in 1880 there
were only 2s,000,000 paying entries
One million two hundred thousand
bonds of 25 francs had then been issued
so that about 100000 tickets were un-
used, though they could latterly be pur-
chased for rs centimes. Strictly speak
ing, indeed, the admissions numbered
only 25,500,000, but on certain special
days the charge was five or ten francs,
and each visitor, therefore, used five or
fen tickets. This will again be the case
in 1900, but in 1889 the daily average
of tickets used was 100000, whereas If
The 65,O0O,O00 are to be used in 1900 the
daily average must be 100000. 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 frame at the
turnstiles when he can buy ticket in
the streets for a quarter of the price.
But whether the great bulk of the
tickets is used or not, the exhibition
coffers'will receive the 65,000,000 francs.
OF course the organizers do not count
on any further receipts from admis-
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
al slight premium, but latterly at par.
They undertake to deliver bond even
if the application exceed the issue. !
know one financial establishment
which has had to engage an extra staff
of clerks to receive these applications,
which in two days have numbered 49,
600. I do not think the applications will
be considerably in excess, but / have
reason to believe that the issue will be
covered, so that from Monday there will
he 65,000,000 francs in hand, minus the
percentage to brokers. The financial
resources of the exhibition are thus in