of London, that the actual occupancy and use of the Theatre had
also then been transferred. There is nothing unusual or mysterious in
the fact that Burbage mortgaged the Theatre to Hyde. In the time of
Elizabeth, leases of business property were bought, sold, and
hypothecated for loans and regarded as investment securities. Burbage at
this time was in need of money. His brother-in-law, John Brayne, who had
engaged with him to advance half of the necessary expenses for the
building and conduct of the Theatre, defaulted in 1578 in his payments.
It is evident that Burbage borrowed the money he needed from Hyde,
mortgaging the lease as security, probably agreeing to repay the loan
with interest in instalments. It is not unlikely that it was Giles
Allen's knowledge of this transaction that excited his cupidity and led
him to demand L24 instead of L14 a year when Burbage sought an agreed
upon extension of the lease in 1585. As Hyde transferred the lease to
Cuthbert Burbage in 1589, it appears that he held a ten years' mortgage,
which was a common term in such transactions. In 1584 Burbage was
clearly still manager of the Theatre, and in the eyes of the companies
playing there from time to time, who were not likely to be cognizant of
his private business transactions, such as borrowing of money upon a
mortgage, was also still _the owner of the Theatre_.

In one of the witty Recorder Fleetwood's reports to Lord Burghley, dated
18th June 1584,[12] we have the following matter referring to the
Theatre and the Curtain: "Upon Sondaie, my Lord sent two aldermen to the
court, for the suppressing and pulling downe of the theatre and curten,
for all the Lords agreed thereunto, saving my Lord Chamberlayn and Mr.
Vice-Chamberlayn; but we obtayned a letter to suppresse them all. Upon
the same night I sent for the Queen's players, and my Lord of Arundell
his players, for they all well nighe obeyed the Lords letters. The
chiefest of her Highnes' players advised me to send for the owner of the
theatre, who was a stubborne fellow, and to bynd him. I dyd so. He sent
me word that he was my Lord of Hunsdon's man, and that he would not come
to me, but he would in the morning ride to my Lord. Then I sent the
under-sheriff for hym, and he brought him to me, and at his coming he
showted me out very justice. And in the end, I showed hym my Lord his
master's hand, and then he was more quiet. But to die for it he wold not
be bound. And then I mynding t