A question arose whether the sale price included accrued interest on the bonds to the date of sale, and as the city officers and the purchasers of the bonds were unable to agree on this point, the company, in order to avoid the delay and loss that would have resulted from a second offering of the bonds, decided to pay the accrued interest, amounting to $35,901.34.  The net realization to the company from the issue of the bonds was therefore—­

5,000 bonds, at $1,000.01 ................... $5,000,050.00
Less accrued interest paid ..................     35,901.34
-------------
4,964,148.66

    United States Government Aid.

Of the total sum of $5,000,000 appropriated by act of Congress approved March 3, 1901, there has been received by the company the sum of $4,752,968.45, of which sum $250,000 was in the form of souvenir gold coin.  We understand, however, that amounts have also been paid by the United States Treasury out of this appropriation which have not been reported to, or included in the accounts of, the company.

    United States Government Loan.

Pursuant to an act of Congress approved February 18, 1904, there was advanced to the company from the United States Treasury, by way of loan, the sum of $4,600,000, repayable by semimonthly installments, commencing June 15, 1904, and equivalent to 40 per cent of the receipts from admissions and concessions during the half month immediately preceding the date of payment, it being provided that each installment after July 1 should amount to not less than $500,000.  The whole of this loan was duly repaid on the following dates: 

June 16 ................................. $195,057.04
July 1 ..................................  213,092.15
July 15 .................................  500,000.00
August 1 ................................  500,000.00
August 15 ...............................  500,000.00
August 31 ...............................  500,000.00
September 14 ............................  500,000.00
October 1 ...............................  500,000.00
October 15 ..............................  500,000.00
October 31 ..............................  500,000.00
November 15 .............................  191,850.81
------------
4,600,000.00

Loan on Security of Capital Stock Subscriptions and Premium on
Souvenir Coins.

On August 22, 1903, the company entered into a contract with the Mississippi Valley Trust Company, the Lincoln Trust Company, the Mercantile Trust Company, and the St. Louis Union Trust Company, as trustees, under which it assigned all subscriptions which were at that date wholly or partly unpaid, together with all further subscriptions which might be received, and the premium to be received on the sale of $239,000 souvenir gold coin, in consideration of the sum of $600,000, with a provision that when the trustees should have received the full sum