WEMBLEY FINANCE.

Waikato Times, Volume 98, Issue 16152, 28 November 1924, Page 6

WEMBLEY FINANCE.

TOO EARLY TO PREDICT A LOSS.

“It is impossible to say at present that the British Empire Exhibition t\as been either a financial success or loss,” the Daily Mail was informed recently. “So much .depends upon the amount each visitor spent in the Exhibition, as the authorities received a proportion of a great deal of this money in addition to the money taken at the turnstiles.”

If any profit is made out of the Exhibition it has been decided to apply it to public objects. It will be divided equally between the Home country and the Dominions. Soon after the close of the Exhibition on November 1 it is expected "that an interim balance-sheet will be issued. Much depends upon what is disclosed as to the proportion, if any, of money guarantors will be called upon to pay. The guarantee fund amounts to just under £2,000,000. Of this sum the British Government has guaranteed 11600,000.. The British Assets.

All the, British assets, including the Palaces of Art, Engineering, and Industry, but excluding the exhibits, the stadium, and tile freehold of a considerable proportion of the ground, and the leasehold of the remainder, will be handed over to the British Empire Exhibition Assets' Company, which consists of a body of trustees representing the guarantors. These assets will be bit her realised or administered.

It is possible, therefore, that if the guarantors are called upon their payment will be more than covered by the realisation of the asset.

“If the British Empire Exhibition were a commercial concern,” said an official at Wembley, “it would be possible to pay off a considerable portion of the capital and declare a handsome dividend. The average business man is very fortunate if during the first year he is' able to cover running expenses. If the Exhibition re-opens next year and is visited by only onequarter of this year’s attendance it would more than cover the running expenses.”