We would call your attention to the note made in the statement as regards the cash in trustees' funds and would point out that, as the liability of the company as principal under the various bonds is included in the statement of liabilities, this cash may practically be regarded as an available asset. In other words, if the cash is excluded from the assets, the liability falling on the company under the various bonds should be correspondingly reduced.
We should be glad to be advised whether there are any further points in connection with this statement with which you would desire us to deal, either by letter or in our final report, and would add that, on hearing from you, we are prepared to send in the signed report.
We are sending a copy of this letter to the secretary of the
Commission, in case it should not reach you at Portland.
Yours, faithfully,
JONES, CAESAR, DICKINSON, WILMOT &, CO.
Hon. J.M. Thurston
President Louisiana Purchase Exposition Commission,
Portland, Oreg.
STOCK EXCHANGE BUILDING,
St. Louis, June 8, 1905.
GENTLEMEN: We beg to inclose herewith statement of receipts and disbursements of the Louisiana Purchase Exposition Company from the date of its incorporation to April 30, 1905, and to report as follows on the audits which we have from time to time made, and which together cover the whole of the period above mentioned. For your convenience we propose to deal in this report with the accounts for the whole period, and therefore to repeat some of the comments contained in our previous reports.
Receipts.
Collections on account of sales of capital stock:
The total subscriptions to capital stock, as shown by the
treasurer's record, amount to ……………. $5,294,490.00
Of this sum there had been collected, in cash,
to April 30, 1905 ……………. $4,821,456.11