The Montgomery advertiser., 1908-04-02
NATIoN,s LOSS OF .FAIR.


May Acquire Grounds.
Washington Special.
Treasury o6lciais have reached the
conclusion that the United States re-
ceived q very thinly washed gold
brick. when 1t loaned . pillion dollars
In real money on the gate receipts Of
the Jamestown Exposition. According
figured un the totals from the chaotic
tumble Of figures submitted by the Of
ficials Of the busted" show, the ma
uenal Treasury now stands to lose Q
little more than 100000. Contrary to
the general belief, the government Is
not the preferred creditor OF the expo
sition company. and cannot realize on
the property which remains In posses-
aion of the bankrupt corporation. Con-
Rress loaned the money on the gate re-
eDlpts. ana as the gate receipts did not
bring enough. to square the govern
ment's account. that ends 1t as far as
the government Is concerned. II has
no lien upon the grounds. the beauti-
full exhibit buildings. on even upon
the magnificent permanent pier, which
was built with government money. Un-
less 1t buys In the property. therefore,
1t looks very much as IL the govern
ment were doomed to lose out alto
gether in the transaction.
THE best thing for the government
to do under the circumstances Is IN
pay of the other creditors and take
over the property" said treasury OF
ficial. There are about $750,000 of
outstanding debts due individuals and
various concerns by the exposition
company. This amount Is exclusive of
the amounts contributed by the stock
holders Of the company, who will, of
course. lose everything they paid In.
no matter who buys the property. For
this $4,000 the government will sA-
cure the grounds. a mile and half of
waterfront. and improvements which
cost the exposition company more than
a million and a quarter to make. The
navy will always rendezvous at Hamp-
ton Roads, and there could be found no
better place for a naval training sta
ton than the exposition grounds. The
permanent buildings erected by the ex-
position company would make splendid
quarters for officers and men, and the
waterfront and pier would just At in
with the scheme. I have no interest
In the matter one way or another for
l have neither stock In the exposition
company, friends In the corporation
nor claims against the concern but II
saems to me that to adopt this plan
would be the best way out of a bad
bargain. The court, which has ap-
pointed three receivers to take charge
Of the assets, has declared that the af-
fairs OF the company must be wound
up Immediately. 1t therefore behooves
the Naval Committee, which is consid-
ering the stability Of recommending
the use of the site, to act one way OF
the other. Assistant Secretary New.
berry, who Is anxious to secure the
grounds for a training station. has
urged the members of the Committed
to advocate the purchase, but. OF
course I am not in a position to know
whether they will see it in the same
light as he does"
The Navy Department is not sum.
GENTLY anxious to acquire the property
10 go on record as recommending the
purchase, but, at the same time II the
government acquires II and turns II
over to the Navy Department profitable
use can be made OF the tract as a ma.
val training station similar. to that al
Newport and such as Is contemplated
at North Chicago. on Lake Michigan
At present a branch of the naval train,
ing service is at the Norfolk navy yard
but there is really no special provision
made for the care of the young men Al
that station. They are quartered most
ly in tents when not on board the re.
ceivinE ship Franklin. The jamestown
Exposition tract could be developed In,
to very extensive establishment, com.
plete in all respects. with quarters and
the facilities of training. If a large ex
penditure should be authorized. The
navy. however. wants so many Other
things which are of more lmmediat.
Importance that no special recomn4n
dalton will originate with the Depart,
ment respecting jamestown.