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twenty per cent on July 1, 1938 and ten per cent on October 1, 1938. In case of payment as a whole on or before January 1, 1937, the subscriber will receive the Debentures for which he has subscribed, such Debentures to be dated January 1, 1937. In case of payment in partial amounts as above set forth, the subscriber will receive a Part Paid Allotment Certificate of the Fair Corporation at the time of the first payment. The Fair Corporation agrees therein to pay interest from January 1, 1937, at the rate of four per cent per annum on each partial payment, semi-annually on the first day of January and the first day of July, until December 31, 1938. Upon payment in full of the subscription price (but in no case prior to January 1, 1939) the subscriber who makes payment in partial amounts as above set forth will receive the Debentures for which he has subscribed, all upon the terms and conditions set forth in the above-mentioned Allotment Certificate. The Allotment Certificate provides that in the event of default in making any partial payment the Fair Corporation, in addition to its other remedies and at its option, may upon thirty days' notice declare the Allotment Certificate and all previous payments thereon forfeited, or at its option may sell the Allotment Certificate and the rights of the subscriber thereunder at public auction, or at its option may recover judgment against the subscriber for the unpaid balance of the subscription price. The Allotment Certificates are transferable only with the consent of the Fair Corporation. Subscription blanks, containing a specimen form of the Allotment Certificate may be obtained from the Fair Corporation upon request. LEGAL OPINIONS THIS ISSUE has not been registered under the Federal Securities Act of 1933, as amended, since in the opinion of counsel for the Fair Corporation the Four Per Cent Debentures are exempted securities within the provisions of Section 3(a)(4) of said Act. Legal matters are subject to the approval of Messrs. Lord, Day & Lord, counsel for the Fair Corporation. A legal opinion with respect to the proposed Four Per Cent Debentures has been given by Messrs. Davis, Polk, Wardwell, Gardiner & Reed, and copies thereof may be obtained from the Fair Corporation upon request. GENERAL FAIRS AND EXHIBITS have been a common form of community self-expression since as early as the thirteenth century. Designed at first for the advertisement and aggrandizement of the communities in which they were held, these fairs quickly showed themselves instruments to stir the imagination and to direct men's thoughts to wider interests and better methods long after their buildings and exhibits had vanished from sight. World Fairs, in especial, have promoted unity among nations, have facilitated the exchange of knowledge, introduced new products, opened new fields of endeavor, heightened appreciation of the arts in every-day life, directed attention toward social problems, and generally, have provided mankind with a clearer and more vivid understanding of the possibilities of his genius and his environment. Universally, along material lines, they have stimulated business and inspired and hastened civic improvements of permanent value. It is to bring these benefits to New York City that the present issue of Debentures is offered to business in the belief that he who is to profit should aid in financing his own prosperity. NEW YORK WORLD'S FAIR 1939 INCORPORATED, 350 Fifth Ave., New York City November 23, 1936. [11]
