The promenade concerts flourished through the 1890s, but in 1902 Newman, who had been investing unwisely in theatrical presentations, found himself unable to bear the financial responsibility for the Queen's Hall Orchestra and was declared bankrupt. The concerts were rescued by the musical benefactor Sir Edgar Speyer, a banker of German origin. Speyer put up the necessary funds, retained Newman as manager of the concerts, and encouraged him and Wood to continue with their project of improving the public's taste. At the beginning of 1902, Wood accepted the conductorship of that year's Sheffield triennial festival. He continued to be associated with that festival until 1936, changing its emphasis from choral to orchestral pieces. A German critic, reviewing the festival for a Berlin publication, wrote, "Two personalities now represent a new epoch in English musical life – Edward Elgar as composer, and Henry J. Wood as conductor." Later in the year, overtaxed by his enormous workload, Wood's health broke down. Even though this was during the Proms season, Cathcart insisted that Wood should have a complete break and change of scene. Leaving the leader of the orchestra, Arthur Payne, to conduct during his absence, Wood and his wife took a cruise to Morocco, missing the Proms concerts from 13 October to 8 November.