Mr. JOSEPH FLORY,
Secretary National Commission.

It was the opinion of the National Commission that the sale of the proposed tickets to stockholders alone at the reduced price proposed was in the nature of a dividend or pecuniary benefit in which the United States Government could not participate, and therefore contrary to law; and in view of the fact that the people of the United States had contributed through the Government appropriation for the exposition an amount of money equal to that which had been furnished by the stockholders of the company it seemed to the Commission that no special privilege respecting the purchase of tickets should be given such stockholders that was not given equally to all citizens of the United States.

This view was especially enforced by the consideration that stockholders of the company had subscribed for such stock in the belief that the citizens of the city of St. Louis would reap large local benefits from the holding of the fair in that city, while it was obvious that the other citizens of the United States could not in any degree participate in such benefits.

The Commission, believing that the sale of special coupon tickets at that time would increase the revenues of the company at a time when such increase seemed to be especially desirable, submitted to the company a modification of the proposed rule, as set forth in the following letter:

MAY 19, 1904.

DEAR SIR: I am directed by the National Commission to inform you that they have had under consideration the resolution contained in your esteemed favor of 18th instant, reading as follows:

"Resolved, That a ticket, photographic, nontransferable, having 50 coupons, good for admission at any time during the World's Fair, shall be sold to stockholders at the rate of $12.50; this privilege to continue to and including June 15, and to be open to all who shall be stockholders up to and including that day."

The Commission respectfully declines to approve the resolution as presented, but, being in hearty accord with the laudable purpose of the company to offer inducements tending to insure an extensive sale of admission tickets before the 15th of June, approves that feature of the resolution by modifying the same so as to read as follows:

"There shall be sold to the public up to and including June 15 at $12.50 a photographic, nontransferable ticket with 50 coupons thereunto attached, each good for one admission to the fair at any time prior to August 31."

In the judgment of the Commission the use of the tickets proposed should be restricted by a time limit, inasmuch as a failure to provide such a restriction would be equivalent to a reduction of admissions to 25 cents each. Moreover, limiting the time for use of the tickets, as proposed, would tend to stimulate attendance at the fair during the summer months.