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.

Fourth. That only a partial list of the property, which did not
include many valuable articles, was submitted to bidders outside
of the Chicago House Wrecking Company, and that a complete list
was refu