New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-01
OPERA PLANS MADE SURE.
ABBEY. sCHOEFrEL GRAU TO HAVE
THE METROPOLITAN.
TWO MEETINGS HELD observation-disclosures

TWO MEETINGS HELD Observation-Disclosures
or THE RESULT OFFICIALLY CONFIRMED.
The reorganization of the firm OF Abbey, Scnoei'
fel & C;rau Is at last settled fact, and their CON
troll OF the Metropolitan Opera House for tho COM
ing season Is assured. The terms or the settle
ment are those that have been predicted hereto
fore in these columns and for those who have Eol'
lowed the indications OF the last few weeks. Is
scarcely necessary say more than thqt the plans
that have already been published have now OF
fetal force and will be carried out.
Two meetings for the purpose OF final action IN
the matter were held at the Mutual Life Building
Yesterday afternoon One Of the meetings was OF
the REORGANIZATION Committee of the creditors.
consisting OF William Steinway. Robert Dunlap ana
Thomas F. Fowler. and the other .was OF the d.
rectors of the Metropolitan Opera ana heai
Estate Company G. G. Haven the president o.
the company presided at this meeting and Decides
him there present William c. Whitney, A.
d. Juilliard, Adrian Isein. ID. o. Mills, George f.
Baker and Luther Kountze.
The directors voted to give a lease OF the Metro
potan opera House to the new corporation OF
Abbey, SchoeHcl & Grau, and the Reorganization
Committee Informed OF this action. AZ the
committee has received the assent TO It's pan OF a
far greater number of the creditors than would
be actually necessary for carrying the plan into
operation this makes the proposition Il certainty.
The committee will to-day send out the following
notice to each of the creditors:
Pursuant the terms of the plan and agreement
for reimbursement OF me aais ot .nr urn no.
upward Of 81 per cent OF the creditors nave
Of the undersigned committee a sufficient nunoer
Of creditors nave asserted, and that the SAID I'm
has now become effective and binding Tor all pur-
poses upon the parties thereto. You are therefore
requested provided in sad agreement OF June o.
mttee the del or debts due you respectively. and
the notes obligations. securities, contracts or Cner
instruments or evidence OF Indebtedness relative
thereto For this purpose IL VIII De nece-Sdly ioi
each creditor to execute and mail 10 tie ma IN ~
Fourteentn-st.. New-York City. an assignment III
the form hereto annexed. 49,. .o,
Upon receipt of such assignment. duly exeeu,ed l.
the committee Will send each creditor by man a
reorganization certificate IN que iorm iof ''c
amount of the debt so assigned. ~ l..
creiitors are urged to assis. the committee by
sending assignments Of th9ir CLAIMS az fne eAeS'
possible day. MILAN :, FL, W A.
T. p. FOWLER. Committee.
Mr. Abbey personally announced the result of the
two meetings. last night, and said: Everything Is
settled row as surely as anything can be that Is
nor actually signed The firm will so under the
new Arrangement. and 1t will manage the opera
under practically the same conditions as before
Mr. Abbey was asked whether the terms of the
new lease the same as those OF the oid one,
and he rel l.ed thai they 50, except Ior sine
minor d. talls ms means that The new y n WI
have enuIe control Of the opera tiouse -" WI.
receive the Stockholders suJscr ptO.s Tor t-lcir
boxes, condition Of giving cdcn season AT .cds.
nifty subscription performances OF opera, WIN d
stockholders will have the use OF their respectVe
boxes 1nis is the pan on which the house mas oeei
paced at the disposal of Abbey, Schoenei * Hiau
and managed by chem for the las three years, anu
the new lease which was granted yesterday takes
the place OF the similar one wnich uIe oiu iii"
forte ted bv making assignment.
The plan of REQ. ganzat!on mas Deen pup.sii -
grea ter or IL ss length many times tnat II - IN
Necessary to repeal it in full here 1t provides ior
the lornat on OF corpora ton ana Tor the pay
81 ~ ner cent of the unsecured debts OF ADoey
Scroefiel a. Grau in preferred stock OF tne new W
cc,nranv the remaining 80 per cent TO DE paia III
notes OF Messrs. Abbey. SchJenel q Grau ihese
men are to be managing directors OF the S I
ar an aggregate salary Of $4,000 year. Inc pre-
ferred stock which is issued as payment OF dep,s
NAV lee called in by the company when II Is ape ape
and DESTROYS 10 do so. ana mus the Corresponding
indebtedne will he cancelled. -. 49,,
Before the assignment OF the frm severdi o, i''e
SINGERS of last winter had been re-eneagei, anu d
fow have been engaged since then Inc conlpIHyy
which will sing the Metropolitan next season , W.
ha as to the chief artists. almost the same az Ias.
season. a careful revision of the approximate are
nent of the Liabilities and assets OF the hrin w'iiTh
,ro :. nublished some ten days ago. shows that the
labJi,ies were overestimated by about $2ooW