Meeting of Persons Interested in the New French Theatre

“A project is on foot for the erection of a new theatre in this city, to serve the double purpose of a German and a French house, where a French dramatic company and a German opera troupe shall perform on alternate nights, from October to May. A committee has been formed, and efforts are making to raise a subscription of two hundred thousand dollars in one hundred dollar shares, Messrs. Schuchard & Gebhard, of 19 and 21 Nassau street, being the bankers in the matter, and authorized to receive subscriptions. When two-thirds of the expected subscription are received the society will be duly organized by a general meeting of the shareholders to elect officers and decide upon the details of the enterprise.

We understand that it is not proposed, as in the case of the Academy of Music, to allow the shareholders free seats in perpetuity; it is rather expected to make of the intended theatre a financial enterprise like any other stock concern, and the Courrier des Etats Unis of this date contains an elaborate series of estimates which argue that capitalists and others investing in the enterprise will make twelve percent on their investments. The success of the French players, even under the disadvanages of the wretched accommodations at Niblo’s Saloon, and the success of Anschutz and his opera company when campaigning at Wallack’s old theatre, are the bases from which the present company derives its hopes of a favorable result.

The locality for the new theatre is admirable; for it appears that property can be obtained on Union Square for one hundred and ten thousand dollars, with a future annual ground rent of two thousand dollars. Eighty thousand dollars are allowed for building the theatre itself and ten thousand for incidental expenses. The lower part of the building will be devoted to stores, the rent of which will go far towards defraying the running expenses of the theatre. It is also urged, and with justice, that, even should the French players and German singers fail to attract the public, another theatre is any way still needed in New York, and the speculation can hardly fail to be profitable. The fact that every theatre in the city is crowded this season as never before, is an argument in favor of this assertion.”

[Summary of article}

Summary and analysis of the meeting held at Delmonico's. Two objections were raised after the presentation by M. Juignet the project's promoter, and explanations by M. Charles Villa, director of the project.

After clarifications and other information, two major objectgions were raised: the lease of the property was not assured in a permanent manner, and the asking price was excessive.

As a consequence, a committee was formed to examine to search for available properties in the city, and to collect subscriptions of $100 each in order to discern whether there would be enough capital to continue with the project.

“A meeting of the persons interested in the new French Theatre was held on Thursday evening at Delmonico’s, Mr. Gebhard presiding. [Lists memebers appointed to the committee to find a suitable site for the building.] Another committee is charged with the duty of soliciting subscriptions. The shares are fixed at one hundred dollars each. The committee will soon call a meeting to report progress.”