Rensselaer Semi-Weekly Republican, Volume 34, Number 18, Rensselaer, Jasper County, 1 November 1901 — BUFFALO FAIR IN DEBT. [ARTICLE]

BUFFALO FAIR IN DEBT.

Pan-American Show Wilt Probably Default in Sum of $4,100,000. At a meeting of the executive committee of the Pan-American Exposition an unofficial statement was made that the exposition probably will default in tho sum of $4,100,000. This will include $500,000 of the first mortgage bonds, $500,000 of second mortgage bonds, $2,100,000 stock, and other indebtedness sl,000,000. Of the original $2,500,000 first mortgage bonds, 5 per cent has been paid and the treasurer will be able to pay 30 per cent more. The balance will be a default. The second bond issue of $500,000 will be defaulted entirely. There will not be tha least return on the $1,600,000 of stock sold outright nor on the $500,000 of stock given as a bonus to the second bondholders. The question which will now perturb the holders of exposition paper is whether the stockholders can be assessed for the shortage of $4,100,000. While it is not believed they can, the matter is yet to he decided.