Salt Lake Telegram | 1932-02-16 | Page 13 | Lake Placid Pays Plenty for Its Fun

Lake Placid Pays Pas Plenty For Its Fun LAKE PLACID N N. Y V. Feb 16 P iF Bad Bad weather and all aU gate receIpts for tor the third winter Olympics ended here yesterday with the running of the postponed man four bobsled races amounted to or only less than the Olympic committee expected expected ex ex- ex the committee said today Emerging from a maze of or figures on costs and receipts this Adirondack resort found that it will pay the winter games deficit for the privilege lege of writing its name boldly into the history of international winter sports competition On the whole the official announcements announce announce- ments said the villa e has made a good investment in its own own future From the beginning we here in Lake Placid knew that the gate receipts receipts re re- re could never pay more than a fraction of the cost o of putting on the games Barnes said Willis Wells chairman of the finance committee of the Olympic pic pie committee We knew we would have to take care of ot our share of the expense Construction of the big bic arena almost almost al al- al most as large as Madison Square Gar Gar- den with its maKing ice equipment the stadium and the running of the games themselves brought the total cost of the Olympics to date to 1 1 the statement said But Lake Placid got most of that money from the state and the town of North Elba where the village is located Only village funds went into the building of the arena aren at a n cost of the largest single item of expenditure