Syracuse (WSYR-TV) -- After 50 years in Central New York, financial troubles finally silenced the Syracuse Symphony Orchestra earlier this year. A key decision by M&T Bank may ensure this story doesn’t end on a sour note.
M&T Bank Regional President Allen Naples told NewsChannel 9, "This was a situation that unfortunately they were not able to sustain it. We had a choice of liquidating the assets, we had a first lien on it and it took us about 30 seconds to decide that was not where the value of the assets belong."
Probably the most important donation is one to help keep symphony music alive in Syracuse. The instruments are being given to the Cultural Resources Council.
"It's in the hundreds of thousands of dollars and that's money that will not have to be spent by a new organization," Onondaga County Executive Joanie Mahoney said.
Right now there are two symphony groups in Syracuse. Former musicians from the SSO which have formed Symphony Syracuse and the Syracuse Philharmonic put together with help from Syracuse University.
John Garland with Symphony Syracuse said, "The Symphony Syracuse is a life boat organization and we've always been hoping that someone would build an island for it to arrive on. We're not sure at this moment whether the plan for the Syracuse Philharmonic represents that kind of an island for us."
Mahoney said, "We really do have to work together to make sure we're meeting the needs of the musicians in the short term, so that the full Syracuse Philharmonic can be here on into the future, providing symphony music for the whole area. We have to come together."
M&T Bank is donating the SSO archives, including albums, the music library and equipment to the Onondaga Historical Association. All of the sheet music will go to the Setnor School of Music at Syracuse University.
