In the heyday of Manhattan's stage the Theatre Guild published a quarterly house organ. Started in 1919, the Guild magazine became a monthly ten years later, in 1932 acquired a new name, Stage. About that time John Hanrahan, one of the early backers of The New Yorker, took over management of Stage. Up went circulation until it hit 55,000, up went Stage's price to 35ยข. Then Manhattan box-office receipts began to skid, and down went Stage with them. In June 1939, Stage dropped its curtain for the summer, did not reopen.
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