Le MeschaceÌbeÌ. [volume] ([Lucy] La.) 1853-1942, 1910-09-03
The Revenue Of the Exposition.

1t is but natural that people who are
called upon to make an investment in SO
important an enterprise as a great inter
national Exposition, should require ex-
act information. concerning every detail
of the business in hand. The amount and
character of the expense incurred. the
source from which the revenue is deriv.
ed, and the distribution of the funds and
Of whatever profits may be realized. all
are questions in which investors have a
Legitimate interest and abont which they
are entitled to full Information.
The taxpayers CT Louisiana are asked
to make an investment in the World s
Panama Exposition, hence, they are en-
titled to be kept posted with regard to
every detail concerning the collection
and disbursement of the revenues, the
plans of the directors and the disposition
of whatever surplus may remain at the
conclusion of the enterprise. Some in.
terest has been manifested in this later
phase of the subj7ct. Inquiries have
come from one or two sources with regard
70 the probable disposition of any sur
plus remaining after the affair Of the Ex-
position shall have been concluded.
It-is of course, rather early to discuss
possible profits coming out of an enter
prise which may never materialize, and
the profits of which. even should we sue
ceed in securing the Exposition, may be
nul; yet, the interest which prompts such
an inquiry shows spirit of cautions con-
servatism that is commendable. 1t is bet
ter to he sure that one is right before
going ahead. than to push ahead foolish
ly only to find out afterwards that the
route is impracticable. The tax payers of
Louisiana are in certain sense stock
holders of the Exposition enterprise,
which being true. gives them the right to
ask questions. and to have them answered.
With regard to any possible profits
that may result from the operation of
the Exposition Company. it is proper to
say that Article TX of the charter of the
Company makes this provision for the
distribution of any balance that may re-
main:
sAfter this Corporation shall have
been iquidated. and il. after all sub
scriptions to the Stock shall have
been reimbursed the amount of their
subscriptions, there shall remain any
surplus in the hands of the liquidat-
ing Commissioners, it shall be the
duty OF the Commissioners to distri-
butte said surplus among the respec-
tive parishes of this State, incIud-
ing the parish Of Orleans, in the
proportion in which respectively
said parishes shan have contributed
to the purpose of this Corporation
by their taxation; and said amount SO
paid to said respective parishes shall
be receipted for by the Parish Treas
urer. and shall be devoted to the
establishment of good dstherein. ,
In addition to this, the Law Commit
tee of the Exposition is now at work upon
an amendment to the Charter which will
provide for the construction Of two per-
manent buildings: one to be the proper
ty of the State and the other to belong
to the City. those to remain as permanent
memorials OF the great Exposition. and
to be put to such uses as the State and
OASy iCSPOCoisOiJ uoy oCuOi uhn0' IL ollA@
connection it may not be out of place to
say here, that 40 private corporation in
this country is conducted upon more
business like principles or with more
scrupulous regard for the rights and in
terest Of the people. No expenditure can
be made unless authorization is obtained
for doing so, before dollar can be paid
out the claim must be passed upon and
by the sub committees, which
it, by the Finance Committee,
and by the Secretary and Auditor of the
Company.
At the end OF each month the books
and accounts Of the Company are inves-
tigated in succession by several Of the
most prominent chartered public ac-
countants in Louisiana, thereby render
ing fraud and crookedness impossible ex
cept upon the unthmkable theory of the
consent and concurrence therein by a
number OF the most eminent business
men Of New Orleans.