“The loss in season 1903-04 amounted to $58,530.23, so that we can show a distinct gain this year of $4661.52. The gain, however, was really much greater, inasmuch as our fixed charges were increased nearly $5000 due to increase in salary of conductor, increased rent of Academy of Music and increased charges for advertising, etc.” * * * * * “Owing to the unflagging energy and enthusiasm of our Women’s Committee, not only has our Guarantee Fund been substantially increased, but the season’s sale of boxes and seats, etc., was larger than for any previous year.” * * * * * “All this is very gratifying, but the fact remains that an efficiently maintained orchestra will always cost in the neighborhood of $100,000, with the possibilities of only $60,000 _maximum_ receipts secured from full houses at every performance.” * * * * * “There is no question whatever that the Orchestra is gaining in prestige and popularity among the people of this city, and it is the earnest hope of the Committee that the work should spread and that the Orchestra should be put on a permanent basis. “It has been decided to re-engage Mr. Scheel, and contracts have been authorized with the members of the Orchestra, so that as far as possible the present personnel may be retained. “It is the hope of the Committee that you will continue to favor the organization with your support as before, and that you will renew your subscription to the Guarantee Fund. “By Order of the _Executive Committee_ “(Signed) A. VAN RENSSELAER, _President_” PROGRAMME BOOK “THE PHILADELPHIA ORCHESTRA ASSOCIATION OWES MUCH OF ITS SUCCESS TO THE DEVOTED LABORS OF THE FOLLOWING WOMEN’S COMMITTEES ANY MEMBER OF WHICH WILL BE GLAD TO RECEIVE YOUR SUBSCRIPTION OF TWENTY-FIVE DOLLARS, OR MORE, TO THE GUARANTEE FUND OF THE PHILADELPHIA ORCHESTRA “WHAT THE PHILADELPHIA ORCHESTRA IS DOING FOR PHILADELPHIA” “The breadth of a city’s culture is measured by its point of view toward the arts that interpret life. Music is one of them—with Painting and Literature. It is the function of THE PHILADELPHIA ORCHESTRA to carry forward the musical tradition that has been Philadelphia’s for five generations— “And more, to keep its musical consciousness alive and virile, by presenting the noblest works of the composers of today—composers who are expressing life in the terms of the present day.” * * * * *