PRESIDENT.

APPENDIXES.

APPENDIX I.

REPORT ON ACCOUNTS AND STATEMENT OF RECEIPTS AND DISBURSEMENTS

FROM INCORPORATION OF COMPANY TO APRIL 30, 1905.

The following is a copy of letter received from the firm of Messrs.
Jones, Caesar, Dickinson, Wilmot & Co.:

St. Louis, June 5, 1905.

DEAR SIR: We are duly in receipt of your telegram, reading as
follows: "Send statement liabilities Exposition Company to June
1, showing cost of restoring grounds and approximate cost of
matters in litigation," and beg to send you herewith a statement
of the estimated financial position of the Louisiana Purchase
Exposition Company, made up as at May 3, 1905, which we have
just received and which we understand has been approved by the
president of the Exposition Company. In his statement are
included the estimated future liabilities of the company,
including $200,000 for the restoration of Forest Park, and after
providing therefor there appears an estimated surplus of assets
of $467,211.45, subject, however, to possible liabilities on
suits and claims pending against the Exposition Company.

With regard to the estimate of $200,000 for the restoration of
Forest Park, it may be well to mention that the company is under
obligation to restore the park without any limit as to cost.
Moreover, the company has given the city of St. Louis two bonds
aggregating $650,000, which we understand is the amount of an
estimate made on behalf of the city of the probable cost of
restoration. Of the bonds given, one is for $100,000, secured by
guarantee of certain directors of the Exposition Company, and
the second for $550,000, secured as to $100,000 by personal
guarantees, and as to the balance by a mortgage on the Art
Building. We understand that an effort is now being made to
effect a settlement of the company's liability to the city, but
we are of course unable to say whether the estimate of $200,000
now taken into account will eventually prove sufficient or, if
not, by how much the estimate will be exceeded.

With regard to the suits now pending against the Exposition
Company, it is of course impossible to make any estimate of the
eventual liability to fall on the company.

We would call your attention to the note made in the statement
as regards the cash in trustees' funds and would point