The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-05-24
THE ABBEY FAILURE.


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Ventures WerU Dlaaseruus.
New York. May 2.--Aftsr an extended
and brilliant career ~ operate mauageSs:
after introducing to the American public
tho greatest actors and sinGers OF Eu-
rope: after presenting grand opera on .
more splendid scale than has ever bsen
attempted in this country. Abbey. 0choef.
fef 4 0rau. controlling the Metropolitan
opera house and Abbey's theater. In New
York. and the fremont theater In Boston.
have found themselves In serious financial
difficulties. and have made an assignment
for the benefit of their creditors. Their
operate ventures since 1891 have Given
them magnificent profits, but with two or
three exceptions. their dramatic UNDER
fakings have been most disastrous. and
the latter have not only swallowed up all
the great gains Of the opera seasona bue
have run the Arm into such debt that
dividuals. practically stripped OF every doi~
lar they owned.
The crisis was precipitated BY Mr.. Alb
bey's present serious illness. The operate
affairs. which were highly uuccesgfu1. were
largely under Mr.. 0rau's management
and. the season having been finished. there
Was no trouble In that direction. The art.
LIST: had been paid. had gone to Europe.
the next season. Mr.. SchoefIel WAS mainly
In control Of the fremont thsatss. Boston,
In which the firm was. proftabiy interested.
The general theatrical specuiations. such
as the Lillian Russell company and Other
engagements made In the nrms name.
we're more particularly under the hand ok
Mr.. Abbey. Then. too. while Mr.. 0rAu
busted himself with operate matters. and
Mr.. SehoefYei with Boston a6atru. Mr..
Abbey was general financial manager Of
the FIRMS interests. As . result Of hio
inability to attend to this. his partners
found themselves I'm . most embarrassing
position. The nrm'a dramatic business
was going from bad 10 worse. and Mr.. Alb
hey was lying Al the Giisey house too 10
10 give his partners aid or assistance. A
consultation was held with several gentie-
men, who are Intimately associated with
the Metropolitan opera house. and with
Others. business aud personal frends Of
all three partners The assignment was de-
cided upon. and the papers signed yeStsr-
day. Col. A. A. Rand. OF Boston. ana
Louis J. Phelps. OF olln. Rives q Nont-
romery. were named az assiGnees.
When the assignees have made theip
report II will probably be found that the
sum total owed by the firm does not ex.
coed 500 efD. and probably II may be soms-
what less. Against this tho frm have
numerous assets. which. II carefully nursed
and not forced upon the market. may pro-
duce 500. 40. or at least sf50.00o.
Louis J. Phelps. assignee Of Abbey.
schoefYel q Grau, could not say anything
definite today about tho affairs OF the Arm.
Ths published statement that the frsu
owes SsD0.9o Mr.. Phelps said. however, was
merely speculation. a. the facts have nos
been arcertsined up to the present time.
The assets Of the firm. II not forced 70 q
sale. will produce. n II said in other quar-
tsrs. not less than $4,000 and may bring
sso.9o. Tho lease OF Metropolitan opera
house. Ia which the FIRMS principal oper.
attic enterprises have been conducted, 10
rot an asset. as by the act Of assignment
II IL cancelled. Maurice Grsu. the member
OF the firm who has been In charge Of af-
fairs at the Metropolitan opera house.
sailed on the Ncrmannic today for Havre,
u In ssid 10 renew contracts with the pr.r-
cipai operatic stars who have appeared
here during the season Of opera recently
closed. The opera season since 1891 has
been n continuous success. but the 10000
OF PROFITS could not stem the tide Of drss-
matte disaster that has been setting
against the firm Among the long Isl Of
great and lesser actors and actresses
whom the firm has managed during the iase
few years, Irving and Bernharft are al
most The only ones who have brought y
profit TO the partners. the Lillian Russell
company heading the disastrous list, with
losses OF nearly s1o.sq