LOSS ON WEMBLEY.

Hawera Star, Volume XLVIII, 7 October 1924, Page 7

LOSS ON WEMBLEY.

STATEMENT REFUTED. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. (Received Oct.. 7., 11.35 a.m.) LONDON, Oct. 6. Lord Stevenson,. chairman of the Empire Exhibition Committee, describes as sheer nonsense the statement by the Sunday Express that the deficit will be in the vicinity of £5,000,000 or £6,000,000. ‘ ‘lt is impossible to estimate Wembley’s less before the assets are realised,” he said. “Would we sell the exhibition as it stands for £1,000,000? Emphatically ‘No.’ As an instance of its value the Stadium cost £500,000, and that value has probably increased. It is the world’s greatest sports ground, within easy reach of the world’s greatest city. A vast majority of the Wembley exhibitors testify to its success, and desire its continuance. Its goodwill is. one of its greatest assets. It would be insane folly to close.” A high official said that between £3,000,000 and £3,500,000 were expended on Wembley, making an excess oyer receipts of probably £1,500,000. The total sum guaranteed was £1,800,000, including the British Government’s £600,000. Assuming the exhibition is closed in 1924, about 40 ner cent of the guarantees will be called up after the assets have been realised.