Opened on November 6, 1909, it was noted for its fine architecture but due to poor acoustics and an inconvenient location it was financially unsuccessful.

Envisioned in 1906 by Heinrich Conried, a director of the Metropolitan Opera House, its construction was an attempt to establish a great theatre at New York free of commercialism, one that, broadly speaking, would resemble the Comédie Française of Paris.

On the whole the company did its best ensemble work in some of the modern plays of that time, like Maeterlinck's The Blue Bird and Sister Beatrice, Galsworthy's Strife, and Edward Sheldon's The Nigger starring Annie Russell.

The observer of to-day was able to see at first hand exactly what kind of theatrical company could be formed after a long absence of stock-companies; half a million dollars was lost in the effort, and persons of experience, knowledge, and taste have had an opportunity to see what the much-vaunted 'commercialism' has really done for the American Stage, and how necessary it is that other forces should control it.

Despite their efforts, the critic of The New York Times found the play "rich in spectacle, but dramatically deficient", and the scene changes tedious and "long delayed".