The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-13
THE TROUBLE AT THE ACADEMY
OF MUSIC.

WHAT THE LATE TREASURER AND SECRETARY SAY.
meeting Of the Executive Committee Of the share
holders of the Academy Of Music was announced to
take place at the Office Of Mr. August Belmont presi-
dent Of the Board of Directors yesterday afternoon.
The members Of the committee are Messrs. Belmont.
Clarence Seward. Woodbury. G. Langdon and Joseph
Brandon. Until his resignation Mr.. Royal Phelps
also member. The proceedings will have to be
reported in the regular way to the stockholders be-
fore they can be made public.
AN INTERVIEW WITH MIR. ROYAL PHELPS.
Representative of the HERALD called upon this well
known citizen at his residence in Sixteenth street
last evening, and expressing desire to with
him on certain subjects connected with the Academy
Of Music, Mr. Phelps said frankly. II have nothing
to conceal. Ask me any question and viii promptly
answer
"Then." said the writer, "why did you resignr'
"Simply because it was not pleasure q conven-
fence for me to any longer. am too old and
have too many other interests at stake to voluntarily
sacrifice my time and patience to the whims Of those
whose indifference to their affairs thruss
sary amount Of responsibility few active work.
ers Tho shareholders of the Academy very much
like q considerable class of New York voters
they never 60 to the polls and aferward
are the hrst to complain Of the results To give
a meeting at his house and naturally prepared for
their entertainment in his own generous way. Out
of the sixty three who invited only thirteen
tended. What can you expect of such corporation !?
Now, have pleasant home here, an abundance OF
business to look after and all that makes me comfort.
able and happy. Why should get into this musical
maclstrom and be swept about without purpose?
No. sir; let somo OF the younger men take hold
What is the bonded debt OF tho Academy, Mr..
about s1o5, ooo"
"And the floating debt ?"
'well say from $4,000 to $25.0OO."
do you think that the latter can be readily wiped
out =
vidcd the stockholders win give up their seats and
allow tho Academy TO be run on the business princi
pies that control Stenway or Chickering Hall. But
what are you going to do without harmonious mate
rials?"
Then. in your Judgment the place may bo made
profisableg'
Certainly: under the conditions that have named
the entire floating debt can be paid in two years.
I'm view of the existing depression in real estate.
is 1t worth 100000 p
eyes prompty); 1 would give that myself.
think Il is worth s3Oo,ooo The property comprises
in central locality easily accessible by the elevated
railroads aud horse cars, and as place Of amuse-
mcnt IL must be popular for long time"
lis it an expensive institution to run ~
I'm certain yes. Some of tho imprcsarn
are very cxtravagant and make extraordinary de-
mands. In fact there is no end to their calls. but
have never had any trouble with them. do want
It, My personal relationships on all sides have been
the most agreeable character, and in rcsigning the
Office of treasurer retain the kindcst feelings for
the several gentlemen with whom l have been asso-
ciatcd. don't know that can say any more"
WHAT By THE I.AlE SECRETARY.
The writer found Mr.. kingsland in the handsome
library which adorIs his residence in st. Marks
place In reply to questions propoundcd for the pur
pose Of elicting any new facts connected with tho
plans of the directors and stockholders OF the
Academy OF Music that gentleman replied as fol-
lows:--'T have little information TO give YOU that
il not already known. did not attend tho meet
ing this afternoon, but from my familiarity with
the differences of opinion which exist should say
that IL is marvel II any definite conclusion has been
reached. gentleman shrewd, wealthy and
public spirited Mr.. Royal Phelps would scarcely
have rendered his resignation the treasurer OF tho
Board of Directors ii he early solution the
knotty problem. The institution is like an elephant
and just now IL is handicapped TO degree that re-
quires q most skilful driver"
s'But what seems to be the chief diiiiculty?"
'Well. sir. there are two First, there Is debt
about which there is division OF sentiment. Ono
party would wipe II out by assessments upon the