New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-22
THE GARDEN And THE METROPOLITAN
J. A. BNLEyis LETTER TO THE MADISON SQUARE
GARDEN STOCKIfOLDERs-RUMoR ABOUT
THE OPERA UOI-SF

THE OPERA HOUSE
j. A. Bailey has written n long letter 10 the shan
holders OF the Madison square Garden Company. Nj,
Eaiey begins by saying that the promise CT the CON-
pany that the stock would pay great dividend IA,
been broken. Instead OF dividend. Mr.. Bailey siys
J that good faith has been violated, inasmuoh As
careful and capable management by persons familiar
with the nature OF the show business has not been
provided. Instead, there has been fosted upon tho
stockholders management extravagan,. wastefql
and utterly incompetent TO cause considerable CON.
ment, which shall cndeavor to show III. rs well az
that tho present management IS one OF the few AZ
against the wishes Of large number OF the stock.
holders. who feel their holdings are greatly
isopard,ed.-
Mr. Bailey gees 10 say that charges Of extravs
gance have been made in every department. abe
ginning with the president. whose salary is 5000
per anrum for labor merely nominal Other figures
are quoted TO show that the Garden has been er.
travaganty managed and the statement Is made that
the building itself has not been properly cared fOr.
Another charge Is that the Garden has been allowed
- remain closed for two-thirds o. the year. @own,
to inability ID secure attractions Mr.. Bailey -
Serts that IL he secures the management he will DO
willing 10 pay the price he now pays for the Gsrn
for bis olrcns, and that lie will bring Forepaugfs
circus hero In In" fall and winter. paying the same
rental paid by the Barnum & Bailey circus. lie
offers again 10 pay $50 share FOR the stoca and sn
TIE stockholders TO Cooperate with him.
II was reported yesterday that MI. Bailey had
Plan In case he could not get possession Of the Gar
den. for buying the Metropolitan Opera House property
at the auction sale which Is 10 take place under
foreclosure on February L. The subject was men
TONED to Mr. Hamilton Mr.. Ballcys agent yesterday,
and he denied the likelihood OF MI BAILEY trying 10
get the property. lie sald however that Mr. Bailey
would have a site In New York. matter how much
II might cost Mr.. DaIcy Is quoted saying Sue
weeks ago that he cOud get good place in New-iors
simply by saying that he wanted II.
The statement that Mr.. Bailey may want the
Metropolitan Opera House and may try TO get II Is
another element In the complicated condition Of affairs
In regard 10 the big burnedout theatre. ], is likely
that the opera house will bring at the auction not
less than 81, 100000, and there have been repealed
stories which Mere pretty generally believed q syndi'
Gates formed FOR the purpose OF buying 1t among the
members II the Metropolitan Opera House COMPANY.
The site has asO been proposed for n hotel. Tor :
railway station. for posoffce. and for such
other purposes ~ one fertile fancy
nnother might from time TO time suggest. Each new
theory OF the future Of the block and OF the
Ion gincs OF the projectors OF novel schemes for me
placc 10 experiment on adds interest 10 the approacn
ing sale and Increases the prospect OF high bdolns
The spot would apparently he adapted for Mr. ba''eys
purposes and In case he l. dissatisfied with tns =,
silt OF his negotiations AT the Garden II VIII w
Interesting to note whether he turns his nina SEN
Ousy toward the Metropolitan.