The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-10-17


We have been laboring since Max Maretzeks
grand coup d tot and splendid oratorical effort at
the Academy of Music, two or three weeks ago,
to penetrate the mystery which seemed to en-
velope the interesting establishment on the cor
ner of Fourteenth street and Union place. Moved
almost to tears by the sorrow of the young
ladies in the first circles, who cannot prove their
devotion to art by the display of their new
dresses profoundly affected by the stagnation in
the trade in opera cloaks, bouquets and white
kid gloves, we have labored like Hercules to
purify the operate atmosphere and set the con-
Germ on its legs again. Our efforts have not yet
been crowned with entire success, but we think
stitution has struck. Listen
The Academy has cost great deal Of money,
too much perhaps, ever to be a profitable in
vestment. Here is the account Of its cost =
deceived for ansres COZ
kaseo oy second mortgage. 1O,o0t
Floating debt.. t.................. z0,0do
Grand total, s852, Ooo
Mr.. James Pnalen gave the building its first
start, by advancing sixty-two thousand dollars
in the lots of land upon which it is erected He
also subscribed for five shares of the stock. He
with Mr.. Henry A. Colt, forms the terrible Ey
ecutye Committee that we hear so much about
Mr.. Pbalen being the First Consul Of the Opera
and Mr.. Colt the second. They regulate all
the financial affairs of the concern, and they
now hold this second mortgage of forty thousand
dollars the payment Of which is demanded
under pain Of foreclosure, and resisted by a
majority Of the stockholders. If this second
mortgage is not paid the holders threaten to
foreclose and sell the house at a sacrifice.
That is the snag. There is the sticking place
The First Consul and the Second Consul had a
sort of tea party meeting Of the stockholders at
the Academy, on Wednesday, which sat with
doors Dramatically closed, and was altogether as
mysterious, as dark, and as carefully concealed as
a consultation among the bulls and bears
of Wall street when they are plotting
some. grand railway scheme. Thus much
we know, however, that the Academy has
got to be regular stock jobbing con-
Germ. just think OF it. Art and the stock
exchange Bulls and prima donnas. Bassos
and bears. Tenors and transfer books! It is
horrid, but too true, we fear. On one side we
find the First Consul, Phalen, with the Second Con-
SUI Colt, and their party, anxious to sell out the
house at sacrifice; they are the bears. On the
other side, we find the Chevalier Maretzek brave
ly leading on part of the stockholders who are
anxious 10 save the property from sacrifice;
they are the bulls 1t is exactly like some of the
railway speculations by which SO many yerdant
individuals have been bitten. A certain number
Of shares arc taken and the money paid in. AZ
ter a while ii is found that there is not money
enough to complete the work, when loans are ef
fected, and finally two or three smart operators
get the property away from the original share
holders, without giving them show for their
money. So there is great fight going on at the
Academy between the bears, led by First Consul
phalen and the bulls under the invincbc baton
of the indomitable Chcvalier Marctzek. Mean
while the Chcvalicr has gone to Boston, and the
whole affair is YET enveoped in mystery, so far
as the result of this charming imbroglio is con-
ccrnod.
We are sorry that even our amusements cannot
be kept free from the faint Of Wall street. We
regret that the spotess robe Of art, in one Of its
highest forms, must be soilcd by the dirty fingers
Of small stock jobbers- We are sorry for the dry
goods tradc-we mourn for the people who sell
opera cloaks-we sympathzc with the young la
dies who are bored 10 death for somewhere to 90.
The loss TO the great bazaars in Broad way is
something startling. During the last eight or
nine years, probably million of dollars has been
spent in elQaks, gloves, bouquets, lorgnettes and
other feminine operate paraphernala all OF
which has been called out by the Chevalicr Ma
rctzck's magic baton. He has nothing but Ia
nurgc's fortune, "a splendid inheritance Of
debts." Why should not the dealers In opera
cloaks and 70 forth, get up a splendid reception
for Maretzek after the fashion Of the Peabody
demonstrations? There is most magnificent
opportunity for what our Western contemporaries
would call tremendous splurge.
JAMES BUCHANAN AT UoME.-lt is made plain