In the matter of producing plays, the same arrange¬ ment is often followed—the author, the star, or their backers supplying the larger part, sometimes all of the capital, while the Shuberts lend their name to the man¬ agement and take their share of the booking fees and the rental of the theaters where the show is produced.
In October of last year (1920) a serious slump hit the theatrical business. Even in New York the theaters were experiencing the worst depression of years. More than 3,000 actors were idle and managers were com¬ pelled to resort to the cut-rate ticket agents to sell their seats. And yet, in the midst of it, Shubert announced six new theaters for New York alone. At the same time they announced the production of forty plays.
Forty plays! If a man announced that he was going to build six new art museums in one city and fit them up with the requisite number of oil paintings produced under his own direction, he would be considered crazy, especially if it were a matter of common repute that he knew nothing of art and was having the pic¬ tures painted merely to give value to his real estate!
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