Word: fairness
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Dates: during 1930-1939
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...Fair's concessions (gross of Perisphere and other Fair shows...
...believe these stories about hamburgers selling for a dollar and a half. They cost a dime and they're not transparent or synthetic. . . . We have put a soul into this Fair. . . . It is the last word in the application of the genius of man. . . . Our Fair will not be remembered for any hootchy-kootchy dance-and a fan means nothing...
...several respects New York's Fair outstrips Chicago's: its World of Tomorrow cost more than thrice Chicago's $47,000,000 Century of Progress, is twice its size, and at the end of its first year will probably have a deficit three times as big as Chicago's $5,000,000. (The Century of Progress closed its second year in the black.) Fond of booming, expansive ciphers, honey-tongued Grover Whalen prophesied for his Tomorrow 60,000,000 customers, when he unveiled his big show last April 30. Today the books of the Fair give...
From this operating profit of its first 102 days (82 days to go), the Fair paid $2,314,990 to a trustee towards retirement of its $26,995,000 of 4% bonds, and $1,659,665 to reduce a $3,500,000 bank loan. That left very little in the kitty. It had on August 2 about $1,613,000 of cash and accounts receivable, quick assets, which amounted to only about 40% of its quick liabilities. For the Fair had still to retire a $1,700,000 bank loan, had $4,113,000 of unpaid and past due bills...
...that debt and to replenish his working capital Grover Whalen last week asked his bondholders to agree: 1) to waive their claim on $2,800,000 of gate receipts (first 40% of gate goes to bondholders); 2) to lend the Fair the $1,250,000 already paid into the sinking fund for the bonds. Meanwhile, the Fair prepared to go to the banks for an additional $750,000 loan. By week's end not quite half (51% necessary) of the bondholders, who have received, besides interest, only one 5% payment on principal, had agreed to the plan...