On the 10th of November bids were opened by the committee on salvage. They were of very unsatisfactory character. Most of the bidders selected single exhibit buildings or small groups of minor buildings. The highest bid for all of the exhibit buildings opened that date was $50,000. One bid of $325,000 was made for "buildings, structures, salvage of all kinds, and all property owned by the Exposition Company." On the 12th of November the salvage committee rejected all bids. During the following two weeks the salvage committee held frequent meetings. Hearings were given by officers of the exposition to all persons desiring to negotiate for salvage. By wire and by mail persons and firms who might be interested were advised that the property was being offered for sale. Proposals were invited for all physical property of the company, except the intramural cars and equipments and the general service outfit.
The salvage committee waited for proposals in response to this invitation, covering the physical property generally, until nearly the end of November. Three bids were received. The highest was $420,000; the next highest was $300,000. After careful consideration and much negotiation with the various bidders, the salvage committee proposed to the highest bidder, namely, the Chicago House Wrecking Company, which had bid $420,000, to recommend the sale of the physical property to the board of directors, with the exceptions mentioned, for $450,000. This, after some delay, was accepted by the Chicago House Wrecking Company on the 30th of November, and was reported to the board of directors on the 13th of December, and was ratified unanimously.
The records and correspondence showing the proceedings throughout are on file in the office of the secretary, and are ready for inspection and investigation.
The allegations set forth in the letter of the National
Commission as having been made to that body and the answers to
be given to such allegations are:
First. That secrecy was observed in handling the bids for the
wrecking of buildings.
Answer. It was the judgment of the salvage committee that better results could be obtained if secrecy was observed, in so far that the amounts of bids were not made public until the sale was accomplished. The wisdom of this judgment was vindicated in the amount realized for the salvage when compared with the lower bids.
Second. That the Chicago House Wrecking Company was favored from the beginning.
Answer. This is utterly false.
Third. That the exposition officials rejected higher bids than that of the Chicago House Wrecking Company, so that the latter might have further opportunity to raise its figures.
Answer. No higher bid was received either before or after the sum of $450,000 had been agreed upon to be recommended by the committee on salvage.