The Long Beach City Council has waived $100,000 of a $175,000 loan it had made to the Long Beach Symphony in January, 1983, to ease a financial crisis that nearly killed the orchestra.
The waiver was made "in recognition of the fact that we should be playing," orchestra general manager Mary Newkirk said Wednesday. "The council knew that all the money for repaying (previously agreed at $12,500 every three months) was coming out of our ability to provide artistic programming."
Newkirk said that George Murchison, president of the Long Beach Symphony Assn., had made the request of the council because "we would rather be spending the money for making music."
Over the years, the orchestra had accumulated a deficit that by 1985 stood at more than $580,000--forcing the cancellation of all but two events in the 1984-85 season. Since then, however, the organization reportedly has made strides toward solvency. Last year, the debt was reduced by nearly $300,000.