WORLD FAIR PROVES DISMAL FAILURE.
FINANCIAL LOSS.
Attendance Millions Short
Of Anticipations.
15,000,000-DOLLAR DEFICIT,
United Press Association.—Copyright. (Received 10.30 a.m.) NEW YORK, August 17. Following many reports and rumours that the World's Fair would prove a dismal financial failure, the magazine, "Time," to-day published an analysis which indicates that the losses will be even more sensational than at first feared.
The attendance bv October 30, when the season ends. will lie between 24.<)0U.(>00 and 32,000,000, instead of 4-">,00O,(KI0 as was expected. The amusement section operations stand to lose approximately 0,000.000 dollars. Only three of the current 100 or more spectacles in it are making any profits.
Revenue from the Fair since the opening amounts to 10,710,000 dollars, and the expenses are 4,105,000 dollars, leaving insufficient to meet the principal and interest commitments on the bonds which have fallen almost 70 per cent in price.
Bondholders will probably lose the greater part of their investment, and the Fair altogether will show a 15,000,000-dollar deficit by the end of the first season.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19390818.2.53
Bibliographic details
Auckland Star, Volume LXX, Issue 194, 18 August 1939, Page 7
Word Count
170WORLD FAIR PROVES DISMAL FAILURE. Auckland Star, Volume LXX, Issue 194, 18 August 1939, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. 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.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in