New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-17
OPERA HOPES DEFERRED.
THE METROPOLITAN TO BE SOLD.
STOCKHOLDERS SEE NO OTHER wAY-THEIR
MEETING observation-disclosures

| FOR THE FUTURE.
The hone that the Metropolitan Opera House may
| again be the home OF grand opera for New-York Is
| not dead but at present its light shines with faint
| and far-oR look. Many obscurng clouds were cast
| about It by the action OF the stockholders OF the
| Metropolitan Opera House Company at the meeting
| held yesterday.
| The stockholders met at the Mutual Life Building
at noon. T1lry-two We're present, representing thirty
boxes a sufficient majority OF the whole number
to carry any measure provided they all voted together
| Among those present james A. Roosevelt. the
| president OF the company; ". Emlen Roosevelt, H.
| G. Fahnestock W. C. whitney. William X. Vanderbilt
| George Peabody Wetmore George E. Kemp, George
| VI. Davis, G.. G.. Haven. Robert GOelet. H. G. Mar
| quand W. f. Conner, Adrian Iselin, A. D. Smith
George H. Warren. DR.. W. Seward Webb. II. r. Bishop
and samuel d. Babcock. Mr.. Babcock presided, and
W. McIarcn was the secretary. George L. Rives was
also present as counsel for the company.
The general feeling OF the members and the result
OF their deliberations well represented by the
| following resolutions which adopted:
In view Of the fact great difference Of opinion
among stockholders of the company to the pract'
cablty OF completing the repairs upon the building In
time production OF opera this season and
the necessity OF making such extensive repairs as are
rendered necessary by the and rebuilding hastily
with risks OF future danger in the use OF the same
view Of the difficulty experienced IN raising money
| from the stockholders to complete the repairs;
Resolved That in the opinion of the stockholders and
upon advice Of experienced builders the necessary repairs
cannot DO properly In time for the production OF
| opera the coming season, and
Resolved That the property be sold at pubic safe uhuer
| rs incumbrenco and Indebtedness
Many Of the stockholders were undoubtedly as
couraged BY the prospect OF largo assessments TO be
made in order 70 rebuild the house and go on with
season Of opera now or In the future The financial
condition OF the company explained In circular
sent to each stakeholder after the meeting OF
ree ago The company's assets the building In It's
present condition and such furniture, costumes, prop
| critics etc as were saved from the fire. The apart
uents I'm the front end OF the building. however. no
longer belong 10 the company having been transferred
.ome time ago to the Metropolitan Improvement COM
pany Limited. The Liabilities are thus set forth
second ii h d, ............ lOl 900
estimated cost Of rebuilding 22oooc
The estimated cost Of rebuilding does not ihcinde
faxes or interest accrulng during the time required.
The estimated expense Of putting the company on 4
| firm financial basis Is figured thus
Second morteage Ioi 600
Floating debt w az
Rcbuildlng AZ? M
Total e $50. - nnn
| All thi, could BE- met by an assessment OF Slo'ooo
| an each stakeholder Many by no means inclined
to submit TO this and In cases vote for such
| q measure would seem impossible. For instance
" + Roosevelt IS trustee for an estate which owns
| a box I'm the opera house ana he dld not leel 1T
liberty rs trustee, to vote for measure which lshv
hiring further indebtedness on the estate There are
other cases like this this All plans OF reorganization Of
tho coupav &c WAS therefore felt must be abandoned
| and the scheme Of forming a new company by the
contribution OF 81 500 each from many stockholders
a.. CHOSE to ion In II also allowed TO lapse, al
Toast for the time being The only course lerI Seeheu
| 10 be to sell the property, and this Will acco"hgV
| be done under foreclosure Of The second mortgage
| Of $4,000
This then. will be the end Of the Metropolitan
| Opera House Company, Limited, which built up the
opera house and has maintained 1t since leoo' Inc
oue,tion OF grand opera In this house for the coming
season is also definitely settled But, looking further
| into the future, there may yet DO something eis'.
The plans OF the company to buy tho property OF
| tho old one and TO g on In the conduct musca
establishment Of possibly even more power ana 'aue
are not necessarily abandoned. Little was heard OF
| ,bcm at the meeting yesterday, but numer-
| ous stockh elders are ready to give assur-
| ance OF the likelihood OF such an out
come and TO say that they should themselves be gau 70
be members OF such company While It's very eS-
lstencc Is uncertain however, It's nature a'd soope
are. OF course. doubly doubtful.
II Is not unlikely that the course which the stoch-
| ,oIdors took Yesterday may give impetus to plans
hitch have already been dIvuged for the tmnsforina-
,on OF the Carnegie Music Hall into an opera, house
The auditorium B. already quite suitable i9r Tue pnr
|
rrcattng' and the company owns the land necessary
| for The changes, 1t l. known that the PRESIDENT OK
| Tho company Mr. Reno, has been consulting WIN
Andrew carnegie in Europe IN relation to some plans
with this end in view but Just now ma'h HS Rsvn
done or resolved upon is not yet dvulged Mr. heno
| IS expected 10 arrive here In II few days. u., 4,
John schoeie of the firm OF Abbey sGnCens a
| Crar saId Yesterday that he was much surprseo u,
tho action Of the stockholders lie said iat ne naa
submitted plans for the reconstruction OF the mouse
| To- the stockholders, and had offered to do 1t hmsei
for the sum 100000 for the budine-i me e'age
and the restoration Of the auditorium improving nne
! lines of sight and rcdecorang. This sum would not
include new scenery. lie said that be had telegaphed
| tho result Of the meeting TO Mr.. Abbey. Tile same
occurrence which had legally freed the Metropolitan
opera House Company from its contract with Abbey,
SchoeGel & irau would free that firm from Its con
tracts with the artists engaged for their company
| The company had not yet been disbanded, and ne
no posslbe 10 give opera season In Havana, south
America and Mexico. without coming to New-fork ut
| all.