WEMBLEY FINANCE

Grey River Argus, 5 December 1924, Page 4

WEMBLEY FINANCE

NEARLY TWO MILLIONS DEFICIT. (Received December 4 at 9.5 p.m ) LONDON, Dee. 3. The guarantors of Wembley have received a letter stating that unless the exhibition reopens, they will be called or to pay the full amount of their guarantees, namely £1*700,000, in order to meet the deficit, which is £1,800,000. The letter asks them to state if they are willing to continue their guar r.ntee for 1925. It is stated that the Government are prepared to increase their own guarantee from £600,000 to £1.000,000, provided that support is forthcoming from the other guarantors, I nt it w’ill be necessary for practically all the guarantors to continue if the exhibition is to receive full benefit from the Government’s increase. The letter alludes to estimates indicating that au attendance of only seven millions, compared with seventeen millions in 1924, would be sufficient to cover the cost of continuing the exhibition through 1925. The point is emphasised that, while the position of the guarantors could hardly be worse, after another season it may be materially better.