text: Profits from the fair would have been used to improve Flushing Meadows–Corona Park, and many of its restaurants broke even. On the fair's closing day, the WFC had $11.58 million in cash. However, Moses anticipated that the WFC would not be able to repay the remaining $22.4 million in promissory notes, and the WFC was expecting to default on 60 percent of the bonds it had issued. Beame determined in December 1965 that the fair had actually lost $20.1 million in 1964 due to improper management. The WFC later agreed to pay noteholders another $4 million in mid-1966, even as it struggled to fulfill its obligations to restore the fairground.
  During the late 1960s, the WFC was separately investigated on charges of financial mismanagement regarding the Belgian Village pavilion, and the state government also opened a racketeering investigation into the fair's construction. The city government received $1.5 million in profits from the fair in 1972, following several years of legal disputes. Ultimately, the fair recorded a $21.1 million net loss, and bondholders received about one-third of their original investment back. In total, the WFC and other public agencies had spent $83.832 million on permanent improvements to the site during the 1964 fair.
  In part because of the 1964 fair's unprofitability, many industrial exhibitors were reluctant to sponsor major exhibits at the next world's fair, Expo 67 in Montreal, and two other American cities withdrew proposals for world's fairs in the 1960s and 1970s. Citing the 1964 fair, Expo 67's organizers invested heavily in amusement attractions, sought and received BIE approval, and constructed their pavilions ahead of schedule. Expo 67 officials also sought positive press coverage for their fair, a significant departure from Moses's negative reaction to every perceived criticism.
  Impact
  Reception