At the 1893 World's Columbian Exposition in Chicago, George Washington Gale Ferris, a railroad and bridge engineer, built an amusement ride that is now a mandatory feature at any fair or carnival. The Ferris wheel was an instant hit after its 21 June debut, the highlight of the exposition for most visitors, and undoubtedly helped the fair turn a profit. The Ferris wheel earned back its entire cost of $380,000 on 1 September when it forwarded to the exposition $25,000 as royalty on the first profits. At the fair's end in late October, 1,453,611customers had ridden the wheel, with a gross intake of $726,805.50.

The axle of the Ferris wheel was considered a manufacturing accomplishment, the largest single piece of steel ever forged at that time. Produced by the Bethlehem Iron Company, the axle was 45 feet 6 inches long, 33 inches in diameter, and' weighed more than 45 tons. The towers supporting...