despite a successful re-opening of the facility that had at one time been the pride of the city, the new era would be short-lived. around 2 am on march 9, 1950, a fire broke out in the boiler room under the stage. by the time that the fire was discovered, flames were already rising out from the roof. although firefighters were able to contain the fire before it reached the auditorium, the damage sustained as a result of the fire was increased due to the freezing of the water used to battle the blaze in the harsh winter cold. overall, the cost of the damage was estimated at around $30,000 - a total loss. however, after the fire, the building was purchased during bankruptcy proceedings. the new owner re-purposed the building as a warehouse. this action saved it from being torn down.