New Iberia enterprise and independent observer., 1910-09-03
THE REVENUE OF THE
EXPOSITION.

Imput in SO important an enterprise
~ great international Exp sltton
should REQUIRE exact Information,
tcoucorning every detail ot the
business IN hand The amount
and character If the expense n
Icurrcd. the source from which thN
revenue is derived, and the DIS
tributIou of the funds and oi
Whatever profits may be realized,
IAN are questions III winch lnNeS-
tors have a legitimate interest
land about which they are entitled
Ito tuIl information.
The taN payers Of Louisiana are
Ia~kcd tu make an investment ~
Ithc Worlds Panama Exposition.
hence. they are entitled to be
Kept posted with regard to every
lddail concerning the collection
land disbursement of the revenues,
the plans OF the directors aud the
disposition of whatever surplus
may remain at the conclusion Of
he enterprise. Smc interest has
been manifested IN tins Eater
phase OF The subject. inquiries
have come from one or two sour
ccs with regard 70 the probablc
disposition Of any surplus reman-
ng after the affair of the ENpoSI-
tom Shall have been G Included.
II is Of course, rather carly to
discuss possible protI.% coming
out Of an enterprise WHICH may
never matcraljzc and the profits
or which. even should we succeed
In securing The Exposition may
be nil; yet. the interest which
prompts such an inquiry shows
spirit Of cautious conservatism
that is commcndablc. IT IS bet
ter 10 be sure that one IS right
before going ahead. than TO push
ah al rOoIshly only 70 find out
that the route Is i'm
practicable. The tax payers OF
Louisiana arc in a certain sense
Stockholders of the Exposition On
tcrprisc. which being true, gives
them the right to ask questions.
and to have them answered..
With regard t. any possible
profits that may result from the
operation Of the Exposition Com
pany. it is proper 10 say that n
IN of the charter of the Company
makes this provision for the dis
tribution Of any balance that may
remain:
''After this Corporation shall
have been IiqUdated, and il, al
ter all subscriptions to the Stock
shall have been reimbursed the
Of them subscriptions,
there shall demain any surplus
in The hands of tn Ilquldat ne
Commissioners lit shall 'be the
duty of the Commissioners f. dis
tribute said surplus Among the
respective parishes of tins state.
including the parish Of Orleans,
IN the proportion in which re
sprctfuIIy said parishes shall have
contributed to the purpose of this
Corporation by their taxation; and
said amount so paid to said re-
spectlve parishes shall be receipt
ed for by the Parish Treasurer,
and shall be devoted to the cs-
tablishment Of good roads there
in"
In addition to this, the Law
Committee ,f the Exposition is
now at work upon an amendment
to the Charter which will provide
for the construction of two perm
ancnt buildings; one to be the
property Of the State and he oth-
er to belong to the City, those l.
remain as permanent memorials o,
the great Exposition. and to be
put to such uses as the State and
City respectfully may determine.
In this connection it may not be
out Of place to say here, that no
private corporation in this coun-
try is conducted upon more bust
ness like principles or with
business like principles Or with
more scrupulous regard for the
rights and interest of the people.
No expenditure can be made unless
authorization is obtained for do
ing SO, before dollar can be paid
out the claim must be passed upon
and approved by the sub-commit-
tees, which authorizes it, by the
Finance Committee, and by the
Secretary and Auditor Of the Com
pany. e,II
At the end of each month the
books and accounts of the Com
pany are investigated in success
sion by several of the most prom
inena chartered public account |
auts in Louisiana. thereby render
ng fraud and crookedness impos-
slble except upon the unthinkable |
theory of the consent and concur |
renee therein by number of the |
most eminent business men of New |