to "elite audiences" and were "suitable for refined young ladies". One reporter noted that upon seeing a show at the Orpheum, he saw just as many female attendees as male.

Walter was successful but in debt, and in 1891, he faced bankruptcy and leased his theater and its management to John Cort. Cort took over the operations of the Orpheum for two years until his own bankruptcy led to Walter being rehired as manager. This time, Walter had the financial backing of Morris Meyerfeld.