of $600,000, together with interest at the rate of 6 per cent per annum and expenses of collection and management, they would reassign the subscriptions and rights to the company.

Prior to the completion of the loan there was received by the company from the sources assigned upwards of $162,000, and this amount was deducted from the loan, making the net amount received by the company $438,000.  Payments were subsequently made on account of this loan out of the receipts from the above-mentioned sources, and on March 15, 1904, the balance then outstanding of $92,515.25 was paid out of the general funds of the company, in anticipation of receipts from the sources assigned and with a view to effecting a saving of interest charges.

    It should be added that the subsequent receipts from capital
    stock subscriptions have amounted to more than the amount
    temporarily advanced out of the general funds of the company.

    Admissions.

    We have agreed the figures of receipts shown by the books of the
    auditor and the treasurer with those of the admissions
    department.

We have agreed the receipts from sales of tickets with the ticket custodian’s record, and have verified the tickets appearing on that record as unsold.  We have also satisfied ourselves that the system in the admissions department was such as to provide adequate safeguards for the collection by the company of the admissions receipts derived from other sources.

It would appear that the total loss of the company in this department through shortages of employees, counterfeit and mutilated coins, etc., amounted to about $1,250, about one-third of which is probably recoverable from the bonding company, so that the final loss to the exposition will be very small.

    The total receipts for admissions are distributed as follows: 

Exposition period: 
Admissions of individuals ................ $6,042,746.65
Vehicles .................................      5,671.50
-------------
$6,048,418.15
Pre-exposition period .....................................
175,906.25
Post-exposition period ....................................
16,156.50

------------

6,240,480.90

The details of the attendance and revenue during the exposition
period are as follows: 

--------------------------------------+-----------+----

-----------+---------
| Number.   |  Receipts.    |Cents per
|           |               |admission
--------------------------------------+-----------+---------

------+---------
Adults:                                |           |               |
General admission .................. | 11,180,996| $5,589,715.50 |    50.00
Season and other commutation tickets |    961,175|    291,827.00 |    30.32
Children:                              +-----------+---------------+---------
General admission .................. |    621,640|    155,634.25 |    25.04