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Show New Theater to Lease Playhouse That Has Proved Financial Failure. The millionaire sponsors of the New theater. New York's palatial home of Independent drama, have concluded that n net loss of ?400,000 In tho two years of Its cxlstenco Is a little more than even devotion to art enn stand. Tho magnificent Blructuro facing Central park will bo leased for grand opera or other theatrical purposes In nil probability, tho poor acoustics being a drawback draw-back to Its success. Tho compnuy,v,IH probably bo sent on the road next season sea-son nnd then will bo housed In n'smallcr theater Among the New theater's successful piays wero "Tho Nigger," "Tho Piper," "The Dluo Bird," "Don" and "Nobody's Daughter." Anong tho founders of tho Now theater were John Jacob Astor, August Belmont, Henry! 0. Frlclc, Georgo J. Gould, JnmeH Hazen Hyde, J. P. Morgan, James Stlllmnin, W. T. Vnnderbilt and CInronco H. Mackay. |