The financial results of the Wembley Exhibition have been published
in a White Paper. The expenditure was £3,900,000 and the receipts were £2,100,000—a deficit of £1,800,000. Although this is a considerable loss no rational person has ever looked upon the benefits of the Exhibition as capable of being expressed interims of money. The Government have now announced their intention of increasing the amount of the State guarantee to the Exhibition to £1,100,000. Originally only £100,000 was guaranteed. The Government propose, further, to give a guarantee of £500,000 to meet the expenses of reopening this year. What is called expenditure in the White Paper was, of course, the whole expense of constructing the Exhibition. It is good business to arrange for another year of takings. It was hardly to be expected that there could be a return on the capital expenditure in one year —particularly in a very wet one—but there very well may be in two years. The revenue would probably be increased if the price of admission were lowered after, say, five or six o'clock in the evening. Last year the Londoner was not sufficiently attracted to spend his evenings there. * * * *
Previous page
