The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-11-03
Advanced Commercial Intercourse Be-
tween the United states and 9th
American Countries.
RECEIPTS $3,Ooo,ooO SHORT
Loss WILL FALL ON THE HOLDERS
OF COMMON STOCK,
Holders of Second Mortgage Bonds
and Contractors Who Erected
the Exposition Buildings.

BUFFALO, y. V, Nov. 2.-The Pan
American Exposition ended at u o'clock
tonight. At midnight John CT. Milburn
pressed an electric button and the lights in
the famous electric tower grew dim for the
last time. Slowly one by one the lights
on post and pinnacle and tower faded
away. corps of buglers standing in the
tower sounded taps" and one of the
greatest glories of the exposition, the cleo
trical illumination. passed away, and the
exposition was ended.
The exposition has not been financial
success, but it is believed the benefits de-
rived from it will be of great value to the
commercial interests of the country. The
primary object of the exposition was to
advance the friendly relations and COM
mercial intercourse between the United
States and other countries of the two
Americas In this respect it has been a
decided success.
The financial loss will be in the neigh
borhood of $3OOO,O0O. The statement TO be
issued by the officers of the exposition set
ting forth those expenditures and receipts
will be made public some time this month
Until then the company will make no
formal statement. The loss will fall upon
the holders of the common stock the
holders of second mortgage bonds and the
contractors who erected the buildings Two
hundred and ten thousand shares of COM
mon stock were sold at $40 a share The
stock was subscribed for by the citizens
OF Buffalo and the Niagara frontier in
small lots of from one share TO one hun
dred, that the loss VIII not be seriously
felt by any one.
No complaint has been heard from the
holders of the common stock. who appre-
benefit
the city. There is also a feeling of salts
faction that the enterprise was carried to
a successful end by the citizens of this city
without State or federal aid. The first
mortgage bonds, amounting TO $25O0O00.
will be paid in full. An issue Of $4,000 sec
ond-mortgage bonds is unprovided for. but
the revenue from the salvage on the build
ings and from other sources probably will
cover a part of this indebtedness The
balance due 10 contractors is not definitely
known but il is aid that ii represents their
profits for the work done, and no one will
be seriously embarrassed by the loss
The total number OF admissions for the
six months was close TO 5000 600 An aver
age of 100000 a month had been figured on
by the exposition officials. The great snow
storm. of last April was a severe blow to
the exposition. An immense amount of
work undOne and work on the grounds
and buildings was delayed for a week
Strenuous efforts were made TO make UP
the lost time. but on May l a vast amount
of work remained undone. and the formal
opening Of the exposition was postponed
until May 20.
The lamentable tragedy in the Temple OF
Music, which robbed the Nation OF its
President was another blow to the Pan
American. The attendance had been in
crcaSing steadily up TO the date OF the
assassination OF President Mckinley. The
gates We're closed for two days and when
they reopened there was a drop of u per
cent. in the attendance. and no improve
ment followed.
The government exhibit. which is a beau
tiful and instructive collection, will be at
once shipped TO Charleston.
a large crowd attended the exposition to-
day The exhibit buildings were jammed
during the afternoon. and there was consid-
erable petty thieving OF exhibits by souye-
mir fiends. The fruit and wine exhibits I'm
the horticultural building suffered the
greatest loss from the depredations OF the
crowd, and il finally became necessary 10
turn the people out OF the building and lock