People's Pilot, Volume 3, Number 22, Rensselaer, Jasper County, 17 November 1893 — LOST MONEY ON HIS WHEEL. [ARTICLE]

LOST MONEY ON HIS WHEEL.

Inventor Ferris’ Dividends Do Not Pa, Cost in Excess of Contract Price. Pittsburgh, Pa., Nov. 16.—The Ferris Wheel company has paid the stockholders 22 per cent on their investment The surprising information is also made public that George W. Ferris, the originator of the big Plaisance attraction, has lost money on the wheel, together with the construction company that built it The construction company only received $300,000 for building the wheel, while the actual cost was $362,000. Therefore Mr. Ferris and the construction company are out $62,000, while the Ferris Wheel company, which operated the wheel during the fair, made a good profit on their Investment.