Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1901-11-01
MONEY LOST ON THE
PAN=AMERECAN FAIR
The Buffalo Exposition Has Not Been
Financial Success.
DEFICIT WILL BE ABOUT sz,OOO,O9O.
The Total Admissions to Gate, Paid and Free,
Is 100000, and They VII Not Greatly Ex'
coed 100000 by the Closc-0f This One
Quarter at Least Has Been Free Admissions
Daily Expenses About $4,000

Buffalo, N. Y. (SpeciaD.-The Pail
American Exposition has not been a
financial success, but reports OF its fail
ure have been exaggerated.
1t seems that the impression has been
created outside Buffalo that the institu-
ton, as well as the city, will be almost
bankrupt after the first of November,
while the truth is that the fair will leave
this city in a condition much better
than has prevailed in any of the large
I cities OF the country where cxpoSltlonS
have been held during the last quarter
of century.
The exact financial condition is, Of
course, very much a matter Of Specula-
ton, but that it is not matter of entire
ignorance is due to the talkativeness Of
contractors and bondholders. A state
ment is published that the deficit will
amount to So, Ioo, ooo This, however, is
denied by Treasurer Williams, and the
superintendent OF the bureau OF admis-
sions and collections says that S., ooo, 600
would cover all that would be lost by the
enterprise, including $I,65o,ooo OF CAPT
tai stock.
President Milburn said at private
dinner given to the Governor OF New
Jersey. at which were present few Of
the chief men Of the Exposition. and no
reporters, that the amount wouiA De be-
tween 100000 and $4,000 900.
Though the receipts OF the Exposi-
ton will not be made public Until after
November I, when all the total paid
attendance will be known, there is a
reasonable certainty now as to the ac-
curacy of those receipts. The total Of
admissions to date, paid and free, is H.
GOO, 900, and they will not greatly exceed
100000 by the close. OF this one
quarter at least has been free admis-
sions This reduces the paid'attendance
to 100000, or financial collection Of
100000. To that should be added the
income from concessions. This now
amounts to II cents on an admssion--a
record which has prevailed for three
months-while before that it varied
from II to Is cents, making a general
average OF 20 cents. This accent reve-
nue. from every entrance is to be COM
puted on the 100000, and makes the
TOTAL receipts, cSllllldleu Ill IOulu ny
ures, to be $4,6oo,ooo.
The cost OF maintenance is unknown,
but it has not exceeded $72o,ooo, for it
has been at a daily average OF about
$4,000. In addition to this may be placed
the preliminary expenses, including that
of publicity, all of which was about S.
100000, so that the two make an ex-
pended sum for necessaries Of ST, 100000.
The cost of construction was, in round
numbers, $4,000 900; of this 30 per cent
has been paid. That amount, 81 APO, 900.
added to the other makes $2,o2o, ooo
The first mortgage bonds, amounting to
81, 100000, have been paid in half, which
is $I,25o,ooo This makes the grand to-
tai of expenditures to date $4,I7o,ooo.
There yet remains to be paid the so
per cent. OF the first mortgage bonds;
the second mortgage bonds, amounting
to $500, 900; the stock, amounting to
$I,65o,ooo, and the balance due to the
contractors, which is about 100000 The
grand total OF indebtedness, then, would
be about S., GOO, ooo