HEAVY LOSS
ANTICIPATED ON WORLD FAIR ATTENDANCE MUCH BELOW EXPECTATIONS. BONDS FALL 70 PER CENT IN PRICE. By Telegraph—Press Association—Copyright. (Received This Day. 10 a.m.) NEW YORK, August 17. Following upon many reports and rumours that the World’s Fair will prove a dismal financial failure, the magazine "Time” today published an analysis which indicates that the. losses are even more sensational than was at first feared. The attendance by October 30, when the season ends, will be between 24,000,000 and 32.000.000. instead of the 45,000,000 expected. The amusement section's operations stand to lose approximately 5,000,000 dollars. Only three of the current hundred or more spectacles in that section are making any profits.
The revenue from the Fair since its opening amounts to 10,710,000 dollars and the expenses to 4,105,000 dollars, leaving insufficient to meet principal and interest commitments on the bonds, which have fallen almost 70 per cent in price. The bondholders will probably lose the greater part of their investment and the Fair altogether will show a 15,000,000 dollar deficit at the end of the first season.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WAITA19390818.2.35
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Times-Age, 18 August 1939, Page 5
Word count
Tapeke kupu
178HEAVY LOSS Wairarapa Times-Age, 18 August 1939, Page 5
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Wairarapa Times-Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in