Following Toscanini's departure, Gatti-Casazza successfully guided the company through the years of World War I into another decade of premieres, new productions and popular success in the 1920s. The 1930s, however, brought new financial and organizational challenges for the company. In 1931, Otto Kahn , the noted financier, resigned as head of the Met's board of directors and president of the Metropolitan Opera Company. He had been responsible for engaging Gatti-Casazza and had held the position of president since the beginning of Gatti-Casazza's term as manager. The new chair, prominent lawyer Paul Cravath , had served as the board's legal counsel.  Retaining Gatti-Casazza as manager, Cravath focused his attention on managing the business affairs of the company.  It soon became apparent that the Wall Street Crash of 1929 and subsequent depression had resulted in a dangerously large deficit in the company's accounts. Between 1929 and 1931 ticket sales remained robust, but subsidies from the Met's wealthy supporters had significantly declined.