Of this estimated salvage the sum of $46,700 was
based on the presumption that the Exposition Company
could sell in the open market the copper wire in
its storehouse that had never been used.
The contract with the American Steel and Wire
Company, as read to the National Commission, provided
that wire in good condition should be taken back
by the American Steel and Wire Company at 55 per
cent of its original cost. Owing to changes
in the head of the electrical department, Mr. Rustin
being compelled to give up his position on account
of sickness, and owing to changes made in the
plans for electric lighting, the Exposition Company
at the opening was in possession of this quantity
of unused wire, estimated in the salvage to be
worth $46,700, if sold at the market value, but worth
to the Exposition Company $23,860 if it was returned
to the American Steel and Wire Company under its
contract at 55 per cent of the original cost.
The Exposition Company claimed that this unused
and unpacked wire should not be returned under the
contract and endeavored to sell it. The company
was prevented from making sale by an injunction
taken out by the Chicago House Wrecking Company.
The Wrecking Company had purchased the Steel and
Wire Company’s rights of salvage under the contract
of April 3, 1903. This injunction was pending
in court at the time the sale of salvage was negotiated
in November. If the contention of the Chicago
House Wrecking Company was sustained it would have
reduced the estimated salvage on the copper wire
to $97,893.68. The purchase of the general
salvage by the Chicago House Wrecking Company
ended the injunction proceedings. Copies of the
contract with the American Steel and Wire Company
and of the contract between the American Steel
and Wire Company and the Chicago House Wrecking
Company, which are of record in the office of
the recorder of St. Louis City and in the office of
the county clerk of St. Louis County, will be forwarded
to the National Commission if desired. The
reason that the copper wire could not be included
in the original specifications was the pending
injunction proceedings.
The Exposition Company purchased electric light bulbs referred to in the tenth allegation, of different sizes and under different contracts, to the amount of $65,688. The estimated value of lamps not used at the time of the close of the fair was $16,890.
As regards the fire-fighting apparatus it may be explained that most of this material was procured by the exposition on a rental or loan basis. The Exposition Company owned one second-hand La France fire engine, one second-hand Silsby fire engine, one fuel wagon, and four combination chemical hose wagons. The total cost of this apparatus to the Exposition Company was $5,325.
As regards the piping it can be stated that the Exposition Company had no unused piping; the company did not buy pipe and carry it in stock, but paid under contract for the pipe of various