1964 New York World's Fair - Controversial Ending

Controversial Ending

The fair ended in controversy over allegations of financial mismanagement. Controversy had plagued it during much of its two-year run. The Fair Corporation had taken in millions of dollars in advance ticket sales for both the 1964 and 1965 seasons. However, the receipts of these sales were booked entirely against the first season of the fair. This made it appear that the fair had plenty of operating cash when, in fact, it was borrowing from the second season's gate to pay the bills. Before and during the 1964 season, the fair spent much money despite attendance that was below expectations. By the end of the 1964 season, Moses and the press began to realize that there would not be enough money to pay the bills and the fair teetered on bankruptcy. In March 1965 a group of bankers and politicians asked showman Billy Rose to take over the fair, which he declined stating: "I'd rather be hit by a baseball bat" and "cancer in its last stages never attracted me very much".

While the 1939-1940 New York World's Fair returned 40 cents on the dollar to bond investors, the 1964/1965 fair returned only 19.2 cents on the dollar.