 At the end of 1930, it was announced that the Blackstone Theatre Company was terminating its lease. Mr. Erlanger had died in March, the country was in the midst of the Depression, and newspaper reports remarked on how many businesses were suffering. Building owners John and Tracy Drake managed the theatre for a year before foreclosure loomed in 1932. In 1934, they leased the theatre to Playgoer's Incorporated, although this group only lasted a year.
