Gibson v. Dill

Last year, both U. S. world's fairs lost money, and for the same reason: sub-estimate attendance. This year, both fairs reopened under new management, new policies. Banker Harvey Dow Gibson took over New York's World's Fair of 1940, cut prices and stressed "Fun!! Fun!! Fun!!" at Flushing Flats. Chamber of Commerce President Marshall Dill and Vice President William Monahan took over San Francisco's Golden Gate International Exposition, cut prices and sloganed: "Let's have a good time" at Treasure Island. Last week the Dill slogan looked a little better than the Gibson.

New York's fair still suffered from sub-estimate attendance. With 9,600,000 paying guests clocked to date, Banker Gibson expected 17,000,000 for the full season, against earlier estimates of 25,000,000 plus. But revenues were bigger than expenses, and bondholders, who watched the 1939 World of Tomorrow wind up leaving them $23,983,000 in the hole, may eventually get back 25 to 35% of their investment (counting interest payments as principal).

The Golden Gate Exposition laid this year's plans on the modest basis of 4,000,000 visitors for the season. Last week the 4,000,000th visitor paid his way in, six weeks before closing. By that time the fair should have 6,000,000 attendance, a profit of $1,500,000 or more against last year's loss of $4,166,000. Of Treasure Island's original backers, 61% chose to be paid off last year at 35-c- on the dollar. The 39% who stayed may well end 1940 with 90-c- on the dollar.

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