Background
He was born on September 25, 1782 in New York, United States. He was the son of Michael Price, a New York merchant, and of his wife Helena Cornell (or Cornwell).
He was born on September 25, 1782 in New York, United States. He was the son of Michael Price, a New York merchant, and of his wife Helena Cornell (or Cornwell).
In 1799 he graduated from Columbia College.
In 1805 he began practising law in New York and continued that profession for five or six years. In 1808 he entered upon the major activity of his life when he purchased from Thomas Abthorpe Cooper, manager of the Park Theatre, New York, a share in that establishment. Being an astute business man, Price made the Park pay as no American theatre had ever paid before. He and Cooper shortly became men of wealth and fashion.
Upon Cooper's withdrawal from the management of the Park about 1815, Price became sole lessee and manager. After two or three years, however, he took the actor Edmund Simpson into a partnership that continued until Price's death. On May 24, 1820, the Park Theatre was destroyed by fire, but the managers promptly shifted their company to the Anthony Street Theatre and went on with the season. The Park was rebuilt as rapidly as possible and was opened September 1, 1821.
About 1823 the enterprising partners added to their affairs the proprietorship of a dramatic and equestrian company, which they stationed for several weeks each year at the Broadway Circus, sending it on tour the remainder of the time. For the season of 1826-27 Price was lessee of Drury Lane Theatre, London, but a single season is said to have proved ruinous, and he returned to New York.
Realizing that American audiences were more impressed by foreign reputations than by native, he hit upon the scheme of importing British stars for brief and intensive campaigns in the United States. With keen business acumen he saw in the idea greater possibilities than could be realized in the Park Theatre alone; consequently he entered into an agreement with managers in Philadelphia, Boston, and other cities to "farm out" his visiting artists for a sufficient consideration.
Price imported and managed such celebrities as Edmund Kean, Charles Mathews, William Macready, Tyrone Power, Fanny Kemble, and Ellen Tree.
During his later years Price spent much time abroad and relaxed his efforts to keep the Park in a position of leadership; hence it was outdistanced by more energetic rivals, and at the time of his death was in serious financial straits.
Stephen Price managed the Park Theatre for 31 years, during which time he initiated the decline of the theatrical resident company by bringing foreign celebrities to New York. Price became the first American theatrical magnate, as he was the first manager, who had near-monopoly on English stage stars for American tours at the Park Theatre and venues in other cities, which he organized into a circuit. Thus, he was known in England as "Star Giver General to the United States".
He lived in extravagant luxury, and his home was among the social centers of New York. By his associates he was regarded as an excellent friend, a good manager, and, although a strict disciplinarian, in all his business dealings a man of honor.
