Through the middle and late 1950s the LPO worked with new conductors including Constantin Silvestri and Josef Krips. This was a bad period financially for the orchestra, and it was forced to abandon fixed contracts for its players with holiday and sick pay and pensions, and revert to payment by engagement. Financial disaster was averted thanks to an anonymous benefactor, generally believed to be Boult. A historian of the orchestra, Edmund Pirouet, writes that having been on an upward curve in the 1940s, by the mid-1950s the orchestra "was at best marking time".